Here is how a young Emirati crypto trader made money using cryptocurrencies. The ups and downs of trading cryptocurrencies need not be intimidating. Here are tips for the newbies out there.
Dubai: Gulf News spoke to a young and experienced Emirati crypto currency trader to understand what it has been like for him trading in crypto currencies and what tips he had to offer fresh investors.
Omar Darwish Al Zarooni, a 34-year-old with nearly half a decade of experience trading in crypto coins walks us through his first-hand experience on how he took the plunge into the cryptocurrency world and made profits. As Omar describes the ups and downs of trading in crypto coins, he also reassures with tips for those nervous to take the first step.
Omar, a person who likes to try anything new and takes apt amount of risks in life, started trading in the currency after he “saw a big potential” at the beginning of his journey he hasn’t stopped trading since then.
Following is the detailed account of the interview.
What has been your experience like trading in crypto and what tip do you offer newbies?
“I have been trading now for more than four or about five years and it has been a profitable journey for me,” said Omar. “If you understand the market, you can easily get a winning margin every day. And because the market is open 24 hours, whenever you have free time you can trade.”
If you understand the market, you can easily get a winning margin every day.
– Omar Darwish Al Zarooni
What currency do you trade in? And have you tried trading in other currencies?
“I have traded in most of the coins,” Omar said, while listing out some of them being Bitcoin, Ethereum, BitCash, Bitcoin SV, Litecoin, Chainlink and Monero. “I keep changing and I do not have any particular coin. If any coin has the potential to grow, I’ll buy that coin. I don’t stay invested in a coin for more than a week.”
What advice would you offer new investors out there who may be a bit nervous about investing in crypto?
“If people want to invest for the short-term (seeking gains in 1-3 days), you need to always look at the market. For long term, what I suggest is keep buying only Bitcoin monthly –…