Is it possible to trade Fantom with $100? The answer is a strong yes! However, is it worth it?
Many cryptocurrency exchange accounts have the minimum opening balance set at $100.
Trading Fantom is a form of cryptocurrency trading activity that involves buying and selling Fantom tokens. Cryptocurrency trading has become a popular investment strategy globally as it continues to attract more people.
Technological innovations have made cryptocurrency trading easier. The best part is that you don’t need to rob a bank to start trading crypto. With as little as $100, you can start to buy Fantom tokens and start trading.
Fantom is one of the tokens and networks in this space that offer timely solutions to the issues that affect the traditional financial sector. It plays a role in decentralised finance (DeFi), making financial transactions more efficient.
Over the past year, cryptocurrency trading has seen increased adoption due to the major gains made by the sector. With crypto and blockchain becoming more mainstream, it is the perfect time for you to become a reputable cryptocurrency trader.
Many cryptocurrencies are in the market, but investing in multiple coins and tokens such as Fantom is a great way to diversify your portfolio. So, do you want to start trading Fantom with $100 today?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Start Trading Fantom With $100?
Yes, you can start trading Fantom with $100. As aforementioned, many crypto brokers and trading platforms make investing as low as $100 in Fantom more than possible.
However, before we get to Fantom trading, it is important to understand that there are many ways to make money out of the cryptocurrency and blockchain spaces. You can explore other areas such as blockchain development, crypto mining, Initial Coin Offerings (ICOs), crypto gaming and more.
However, crypto trading is the most popular investment option in this space. To start trading Fantom, you can choose from day trading, Contracts for Difference (CFDs) and long-term investing.
Day trading is possible with crypto because the prices are highly volatile. If you are yet to grasp the basics of crypto trading, long-term investing is recommended. With long-term investing, all you need to do is buy Fantom, store your tokens in a wallet and sell in the future when prices increase. On the other hand, CFDs allow you to speculate prices without owning any cryptocurrency. Other trading options include crypto futures and arbitrage trading.
Given the many ways that a trader can invest in Fantom, it makes it possible for you to start with as low as $100.
Check Out: Will Fantom (FTM) Make Me Rich?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Should I Trade Fantom With $100?
It is possible to start trading Fantom with $100, but this does not necessarily mean that you should start trading with a small account. You need to ask yourself whether trading Fantom with $100 is worth it.
Trading with a small account is a smart choice because of the heavy risks present in the cryptocurrency space. You can make winning and losing trades. The most common phrase used by experts is that you should only invest 1% of your account and only invest the money you can afford to lose.
Secondly, cryptocurrencies are highly volatile, and having a small account of $100 will prevent you from losing a huge amount. However, you need to know that there are trading fees that could end up draining your account if you fail to use a proper risk management strategy.
Thirdly, while it is safe to start with a small account, it will also mean smaller profits. When you make small profits, you can easily be tempted to increase your stake because of greed and overconfidence, which could end up causing you immense loss.
How To Trade Fantom With $100
If you believe that trading Fantom with $100 is worth it, you still need to analyze if you have what it takes to dive into the world of cryptocurrencies.
Even if you are starting to invest with a small account of $100, it is recommended that you take your time to explore crypto trading and learn all the concepts involved. The good news is online courses and webinars will give you the proper trading education needed to create a successful trading strategy.
Do not be overconfident and rush to make trading decisions. Practice means a lot in this field, and taking your time will help you create a successful trading strategy.
Some of the techniques you need to learn include reading charts, analysing historic data, using price predictions and technical indicators. Explore news and social media updates to know the best trading deals.
Cryptocurrency trading can be highly volatile, and sometimes, with your small account, you can either make some wins or losses. However, sticking to your trading strategy is a fundamental factor in cryptocurrency trading success. Do not trade out of fear, greed or overconfidence.
Most importantly. Know when to take the time. If you are a day trader, it is very easy for you to become obsessed with charts and price movements because the crypto market is open 24/7. Set trading hours and know when to attend to other priorities.
Is Fantom A Good Investment?
Even if you are investing only $100, it is still important to know whether you are placing your money on a viable investment.
Crypto scams and frauds are many in the crypto space, and you need to research the tokens you want to invest in and if they have any underlying projects.
Fantom is a smart-contract enabled network that can support decentralised finance projects. DeFi is currently a big thing in the crypto space because these platforms allow users to lend, borrow and earn interest from their holdings, just like one would do with a normal bank.
DeFi solves some of the limitations present in the traditional finance system by offering low fees, better security, and fast transaction processing. This strong use case for the Fantom network makes it a viable and safe investment option.
The Best Platform to Trade Fantom
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read More:
What Is Fantom? Should You Invest In FTM And Where To Buy It?
What Will Fantom (FTM) Be Worth In 10 Years?