How to learn cryptocurrency trading for free


Last Updated: 17 February 2025

The most attractive advantage of trading for beginners is the ability to quickly achieve significant profits. This is precisely what unscrupulous 'coaches' take advantage of, promising to teach everyone interested in cryptocurrency trading from scratch.

Start earning within a month, achieve an income of $1000 with my proprietary program; my strategies will help you — such slogans are used by creators of thematic courses and crypto gurus to attract inexperienced students. Of course, for a fee, because no one will share such valuable knowledge for free.

Unfortunately, such investments often prove to be unprofitable for newcomers in the crypto industry. The information is often outdated, the advice ineffective, and sometimes teachers simply disappear after payment. Not all coaches are scammers, but you still need to know how to recognize those who won't provide any benefit and won't teach you to trade. At the same time, there is an alternative — to learn independently for free from various resources available online. But let's go through everything step by step.

How to tell if the cryptocurrency trading rate is a 'bubble'?

Among the offers to teach the basics and tools of cryptocurrency trading, there are always fraudulent schemes that prey on a person's desire to hit the jackpot. The following signs usually indicate that a mentor, proprietary program, or full course is likely a scam and a waste of money.

Guarantee of instant earnings

Cryptocurrency market is highly volatile. Various external factors, such as news from industry leaders or political figures, can lead to panic, asset sales, and price drops. Even the most experienced trader cannot be 100% sure when the most promising moment for profit will arise. Moreover, no one can promise a newbie the prospect of quick profits. Therefore, crypto coaches who attract with promises of instant gains are manipulators and fraudsters.

Guarantee of self-realization in cryptocurrency trading

Cryptocurrency trading, like any other activity, is not suitable for everyone. It is impossible to say in advance whether a particular person will succeed in this endeavor and be able to realize themselves in the profession. The high income level from trading somewhat depends not only on knowledge and skills but also on the talent and determination of the trader.

Making a deposit on an unreliable platform

To steal money from students, scammers ask to deposit funds on a certain platform. This could be payment for services or a deposit required for further training. The catch may lie in the terms of the offer agreement, under which it will be impossible to retrieve assets, even if the course content or individual lessons are just a façade. Alternatively, the account may be automatically blocked, the platform taken offline, after which the "teachers" disappear from sight.

Missing information about the coach or course authors

Sometimes unscrupulous crypto gurus create fake personas, providing false information about themselves, using someone else's photos, or presenting a façade of success. It is essential to approach the choice of a mentor very carefully, verify information about them from various sources, and study reviews. The same applies to questionable courses from dubious educational platforms, websites, or other venues. There may be some information about crypto trading there, but its relevance and usefulness remain doubtful.

Belief in the effectiveness of proprietary strategies

Of course, it is necessary to understand the approaches to trading cryptocurrencies. But if a mentor convinces potential students that their methods work flawlessly, it is most likely just talk. No strategy can be universal for everyone. Therefore, each trader develops their own strategy in the process of learning and gaining personal experience.

If there are other signals that may indicate unscrupulous teachers and useless training. Therefore, in case of doubts, it is better to refuse questionable offers and start learning independently and for free.

Studying cryptocurrency trading on your own: key stages

Learning cryptocurrency trading should be systematic and sequential. Like any skill, it is essential to start by getting acquainted with the basics and gradually move towards mastering more complex tools and strategies. Each stage is like another step on the path to successful trading, and if some of these steps are missed, one may face failure right from the start.

Introduction to themed literature and resources

The foundation of learning is the study of basic theory. In the field of trading digital assets, this base should be the understanding of the concept of cryptocurrencies and their functioning, blockchain technologies, and the principles of operation of cryptocurrency exchanges. At this stage, it is essential to carefully and thoroughly study the following topics:

  • Что такое криптовалюта и что стоит за ее существованием;
  • Thanks to what cryptocurrencies exist, how they are mined and earned;
  • What are the risks and benefits of investing in digital currencies;
  • How the largest decentralized cryptocurrency exchanges function and what trading tools they offer to users;
  • How to choose the right platform for trading and what to pay attention to.

Familiarizing yourself with specialized up-to-date literature, thematic blogs, video tutorials, and other materials that are available for free will provide a solid foundation for further immersion in trading. At the start of your education, it will be useful to join forums or communities where experienced traders share their knowledge with novices for free, answer questions, and help navigate the industry.

Besides studying the theory, at this stage you can already start some practice. Create your own cryptocurrency wallet, register on a cryptocurrency exchange, and conduct your first small transaction. This will help you better understand how the system works and confidently transition to more complex trading processes later on.

It is important to note that cryptocurrency trading is based not only on technical aspects and theory. In any trading, it is essential to understand how the market operates. Therefore, simultaneously studying the fundamentals of economics, finance, and trading psychology will be beneficial.

Practice on demo accounts

After becoming familiar with the theory, it's time to apply it in practice. However, diving straight into active trading with only the basics under your belt is quite risky, especially in such a volatile and changing environment as the cryptocurrency market. Demo accounts help beginner traders hone their skills.

Демо-счет is a virtual account on a cryptocurrency exchange that allows for trading operations without actual financial risks. Thanks to it, a newcomer can:

  • To get acquainted with the interface and main tools of the cryptocurrency exchange, explore the available features without fear of making mistakes and losing assets;
  • Test the basic strategies found in literature or thematic forums, and understand how they work in practice;
  • Create your own capital and risk management plan by setting different stop-loss levels, take-profits, and determining position sizes;
  • Understand the psychological aspects of cryptocurrency trading, identify your own emotional reactions to market changes, in order to understand how to take control over them and manage;
  • Analyze the allowable mistakes, understand their causes, and find effective solutions to improve your own strategy in the future without losing cryptocurrency.

It is important to understand that even with all the advantages of using a demo account during the learning process, trading with 'test' assets can differ significantly from real trading, which is always associated with financial risks. Therefore, after honing your knowledge on the demo account, the skills acquired should be applied in trading gradually: starting with small amounts to adapt to the psychological reactions of the market, after which one can move on to larger deals.

Deep dive into technical and fundamental analysis

Technical and fundamental analysis are two key approaches to studying the cryptocurrency market. Each of these methods needs to be understood and applied in practice for successful trading.

Технический анализ — это подход к оценке инструментов, основанный на исследовании статистики, которую получают исходя из активности на рынке, такой как объемы и цены. В основе этой методики лежит допущение, что все рыночные колебания и будущие изменения цен уже заложены в самой цене. Среди базовых аспектов технического анализа выделяют:

  • Charts and patterns. Understanding how price charts change over different time frames and which recurring graphical figures (patterns) appear allows for insight into how prices may move in the future;
  • Indicators and oscillators. Using various mathematical tools, traders analyze and predict price fluctuations;

  • Support and resistance levels. These are key price points at which the asset's movement slows down or reverses. They help traders determine entry and exit points, as well as set stop losses and take profits.

Fundamental analysis focuses on identifying factors that influence the price changes of assets. In the field of cryptocurrencies, these may include:

  • Технические новшества — updates in the blockchain network, improvement of protocols, transition to new algorithms, integration of new features, and other internal changes can have a significant impact on the value of a specific coin;
  • Economic factors — directives from central regulators, legislative changes in different countries, economic crises, declines or surges in financial markets also impact the crypto market;

  • Events and news in the crypto industry — the launch of new crypto projects, partnerships between major companies, hacking attacks, regulatory oversight in certain countries, public statements by market leaders, etc.

The success of cryptocurrency trading is built on a skillful combination of each approach. Technical analysis allows for the identification of optimal entry and exit points for trades, while fundamental analysis helps to assess overall market trends and long-term price fluctuation prospects. By delving into these methods and applying them in practice, a crypto trader strengthens their position in the market and gains more opportunities to succeed in a volatile environment.

Creating your own unique strategy

After mastering the basics of trading analysis, the trader moves on to the stage of developing their own trading strategy. This is an important step in training, after which a systematic approach to crypto trading is formed and excessive emotionality in decision-making is eliminated. To create their strategy, the trader should:

  • Define trading goals. You need to understand your expectations from trading. Is it perceived as a long-term investment or as a tool for generating quick income? Understanding your goals impacts your approach to cryptocurrency trading;
  • Identify risks. The trader must clearly define the acceptable level of risk they are willing to take and then strictly adhere to it;
  • Choose a trading asset. Each cryptocurrency is unique in its own way. In the learning process, it's essential to delve into the history of the coins of interest, price growth dynamics, liquidity, volatility, market capitalization, and many other factors. It is crucial to choose a cryptocurrency that best aligns with your strategy and trading style;
  • Identify entry and exit points. For an effective strategy, it's important to establish clear conditions for opening and closing trades based on data analysis. These can be key price levels, chart patterns, or signals from technical indicators;
  • Effectively manage capital. Through practice and familiarization with the cryptocurrency market, a trader begins to better understand what portion of their crypto portfolio they are willing to engage in a trade given the risks. Based on this, appropriate stop-loss and take-profit levels are set;
  • Test and adjust the strategy. To learn how to apply a new strategy in practice, it must be practiced on a demo account or historical data. This way, its viability and effectiveness in different market conditions become clear, allowing for optimization if necessary.

Creating your strategy is the final step in a cryptocurrency trader's education. To reach it, you need to put in a lot of effort and study numerous theoretical resources. In the future, understanding the workings of different strategies will become a solid foundation for earning through trading in any market conditions.