Practical tips on how to trade cryptocurrencies

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For some time now, I have been closely monitoring the performance of cryptocurrencies to feel where the market is headed. The routine that my elementary school teacher taught me – where you wake up, pray, brush your teeth and have breakfast, move a little to waking up, praying and then hitting the net (starting with coinmarketcap), just to find out which ones crypto assets are in the red.

The start of 2018 was not great for altcoin and related assets. Their performance was crippled by the frequent opinions of bankers that the crypto bubble was about to burst. Nevertheless, ardent followers of cryptocurrencies are still “HODLing” and, frankly, they are reaping big.

Bitcoin has recently recovered to almost $ 5,000; Bitcoin Cash approached $ 500, while Ethereum found peace at $ 300. Virtually every coin was affected by newcomers who were still in the excitement phase. At the time of writing, Bitcoin is back on track and selling for $ 8,900. Many other cryptocurrencies have doubled since the beginning of the uptrend and market capitalization has remained at $ 400 billion from the recent $ 250 billion crest.

If you are slowly warming up to cryptocurrencies and want to become a successful trader, the tips below will help you.

Practical tips on how to trade cryptocurrencies

• Start moderately

You have already heard that the prices of cryptocurrencies jump sharply. You’ve probably also received the news that this upward trend may not last long. Some distrustful, mostly respected bankers and economists usually continue to define them as quick-money schemes without a solid foundation.

Such news can make you invest in a hurry and not apply moderation. A small analysis of market trends and the currencies in which you can invest can guarantee you a good return. Whatever you do, do not invest all your hard-earned money in these assets.

• Find out how the exchange works

I recently saw a friend of mine post on Facebook a show about one of his friends who kept trading on the stock exchange, he had no idea how it was going. This is a dangerous move. Always review the site you intend to use before you register, or at least before you start trading. If they provide a dummy game account, use this option to learn what the board looks like.

• Don’t insist on trading everything

There are over 1,400 cryptocurrencies to trade, but it is impossible to deal with all of them. Spreading your portfolio to a huge number of cryptos than you can effectively manage will reduce your profits. Just select a few of them, read more about them and how to get their trading alerts.

• Stay sober

Cryptocurrencies are unstable. This is both their curse and grace. As a trader, you need to understand that wild price changes are inevitable. Uncertainty about when to make a move makes an inefficient trader. Use hard data and other research methods to be sure when to make a deal.

Successful traders belong to various online forums where cryptocurrency discussions about market trends and signals are discussed. Of course, your knowledge may be sufficient, but you should rely on other traders for more relevant data.

• Diversify meaningfully

Virtually everyone will tell you to expand your portfolio, but no one will remind you to deal with currencies with real applications. There are a few rotten coins you can deal with for quick money, but the best cryptocurrencies to deal with are the ones that solve existing problems. Coins with real use are usually less unstable.

Don’t diversify too early or too late. And before you make the move to buy a crypto asset, make sure you know its market capitalization, price changes and daily trading volumes. Maintaining a healthy portfolio is the way to get the most out of these digital assets.

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The best platforms for bitcoin trading

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Cryptocurrency has provided not only the fastest way to transfer money, but also a new venture to trade and make money in addition to stocks and other commodities. Although you can sell and buy bitcoins directly, you can also use bitcoin exchanges to continue your cryptocurrency transactions. There are many exchanges where bitcoin trading is safe and secure, and customers are also facilitated with many advanced services. As an investor or cryptocurrency trader, you can choose one of the exchanges for your convenience. However, it is advisable to take a look at the reviews of some before giving up on this one. Below is a brief overview of the best bitcoin exchanges in the world.

CoinBase: This is probably one of the most famous and largest exchanges for bitcoin trading with dual trading of objects directly and through the portfolio. CoinBase was founded in 2012 as a venture-finding Y-Combinator and has grown rapidly since then. It has many lucrative services such as multiple options for depositing and withdrawing cash, money transfers between two CoinBase are instant, Wallet facilities with multiple signature options for more secure transfers, Bitcoin deposits are insured for any losses, etc. . of Europe and the United States, which seamlessly allow transactions to take place through them. It has relatively low transaction fees and offers bitcoin trading, along with a large number of Altcoin trades.

CEX.IO: One of the oldest and most famous exchanges, launched in 2013, London as a bitcoin trading exchange and also as a cloud mining facilitator. Later, its production capacity increased so much that it held almost half the capacity of the production network; however, it is now closed. CEX.IO allows customers to expand to a much larger number of bitcoin transactions and has the ability to provide instant bitcoin at a stated price. However, a slightly high exchange rate is charged for this exchange, but this is offset by the security and ability to allow transactions in several currencies (dollar, euro and ruble) to purchase bitcoin.

Bitfinex: This is one of the most advanced trading exchanges and is especially suitable for experienced cryptocurrency traders. With high liquidity for Ethereum as well as Bitcoin, this exchange has better opportunities such as leverage, margin financing and multi-order trading. In addition, Bitfinex offers custom GUI features, many types of orders, such as limit, stop, follow-up, market, and more. This exchange also provides about 50 currency pairs that can be traded with easy withdrawals for everyone. One of the largest exchanges in terms of volume traded Bitfinex offers pseudonym for transactions and only for some of the services requires identification. The only drawback of this exchange is that it does not support the purchase of bitcoin or other altcoin through fiat transactions.

Bitstamp: Founded in 2011 and is the oldest of the exchanges that offer cryptocurrency and bitcoin trading. Most respected, because although he is the oldest, he has never been under threat to security and has not been lately. Bitstamp currently supports four currencies, Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app in addition to the trading website. It has great support for European consumers or merchants who have a Euro bank account. Security is also enhanced by the type of cold storage, which means that the coins are stored offline, so you can say that it is not possible for any hacker to break in. Finally, its sophisticated user interface suggests that it is not for the novice user, but for professionals, and offers relatively low transaction fees.

Kraken: This is one of the largest exchanges for bitcoin trading in terms of liquidity, volumes of crypto trading in euros and figures for trading in Canadian dollars, US dollars and yen. Kraken is the most respected exchange focused on the turmoil of cryptocurrency trading and has managed to keep customers’ amounts safe, despite other exchanges that have been hacked at the same time. With more than 14 cryptocurrency trading facilities, the user can deposit fiat as well as cryptocurrency, along with similar towing capacity. However, it is not suitable for beginners, but has better security features and lower transaction fees compared to CoinBase. The most important factor for Kraken is that it has confidence in the community and is the first to show the volumes and prices of the Bloomberg terminal.

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5 Benefits of cryptocurrency trading

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When it comes to cryptocurrency trading, you need to predict whether the market you have chosen will increase or decrease. And the interesting thing is that you never own a digital asset. In fact, derivatives such as CFDs are traded. Let’s look at the benefits of cryptocurrency trading. Read on to find out more.

Volatility

While cryptocurrency is a new market, it is quite volatile due to short-term speculative interest. The price of bitcoins dropped to $ 5,851 from $ 19,378 in 2018 in just one year. However, the value of other digital currencies is quite stable, which is good news.

What makes this world so exciting is the instability of the value of cryptocurrency. Price movements offer many opportunities for traders. However, this also carries a lot of risk. Therefore, if you decide to research the market, just make sure that you have done your research and developed a risk management strategy.

Work time

The market is usually open for 24/7 trading because it is not regulated by any government. In addition, transactions take place between buyers and sellers around the world. There may be short downtimes when infrastructure updates are made.

Improved liquidity

Liquidity refers to how quickly a digital currency can be sold for money. This feature is important as it allows faster transaction time, better accuracy and better prices. In general, the market is somewhat illiquid, as financial transactions take place on different exchanges. Therefore, small transactions can lead to large changes in prices.

Leverage exposure

Since CFD trading is considered a leverage product, you can open a position on what we call a “margin”. In this case, the value of the deposit is part of the commercial value. So, you can enjoy great exposure in the market without investing a lot of money.

The loss or gain will reflect the value of the position at the time of its closing. Therefore, if you trade at a margin, you can make huge profits by investing a small amount of money. However, this also increases the losses that may exceed your transaction deposit. So be sure to consider the total value of the position before investing in a CFD.

It is also important to make sure that you follow a solid risk management strategy, which should include the right restrictions and stops.

Quick account opening

If you want to buy cryptocurrencies, make sure you do it through an exchange. All you have to do is register for an exchange account and keep the currency in your wallet. Keep in mind that this process can be restrictive and time consuming. However, once the account is created, the rest of the process will be quite smooth and without complications.

In short, these are some of the most well-known advantages of cryptocurrency trading here and now. We hope you find this article useful.

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What you need to know about cryptocurrency trading bots

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Is cryptocurrency of particular interest to you? Want to learn more about the tools that will allow you to make the best deals? So, you better slap your eyes with cryptocurrency trading bots. Sounds curious, doesn’t it? In an era where bots seem to be used almost everywhere, it is not surprising that they have been introduced even in cryptocurrency trading. Let’s find out more about these bots and clarify the key aspects.

Cryptocurrencies (or crypto) trading bots are computer programs that allow you to buy and sell cryptocurrencies at the right time. They strive to bring profit to their customers and ensure that they have a long-term advantage. Bots closely monitor market conditions and execute trades based on predefined algorithms. It should also be emphasized that you are free to set your own parameters that will contribute to the execution of various transactions. This type of software is able to respond almost a thousand times faster than human – so its operational efficiency can not be said.

Crypto trading bots can be divided into many types. Among them you can find bots, following trends, arbitration bots and scalping bots. According to bitcoin.com, however, the most popular are arbitrage bots.

Trend bots are useful if you focus mainly on trends once you are in the process of building your strategies. These bots are able to follow trends and decide when it is profitable to buy and / or sell something.

Scalping programs make it easier for their users to present themselves more effectively in side markets. This means that “scalpers” (as these consumers are often called) manage to buy something at a low price and resell it at a higher bargain price.

As for arbitrage bots, they should earn by researching the prices of multiple exchanges and taking advantage of price discrepancies.

Once or if you have decided to try to implement cryptocurrency trading bots in practice, then you need to consider which of them will be able to meet your business needs. Note that all bots have different software and hardware requirements. Consider all aspects before deciding.

Once all the formalities are settled, you can proceed to the installation procedure. In fact, you can get a trading bot by using one of the three options below:

  • Get it for free through an open source platform;

  • Get a paid version of a licensed bot;

  • Create a trading bot (provided you have enough technical knowledge and skills).

After processing all the details above, you have probably formed an opinion about crypto trading bots. Still, let’s summarize all the advantages they have over people.

  • Speed: without a doubt, bots run a hundred times faster than humans

  • Durability: bots can work 24/7 without breaks

  • Capacity: bots can process gigabytes of data per second

  • 100% objectivity: bots are not prone to any emotions. They just do what is required.

However, many experts say that some cases require subjective thinking and thus people can surpass heartless bots. But these are isolated cases, and given that bots offer so many great opportunities, you will definitely be in a better position once you give them priority.

As you can see, cryptocurrency trading bots are proving to be really useful and multifunctional, allowing you to generate a lot of profit. Just keep in mind that to give them a full game, we strongly recommend that you look at the details of the bots. And then you put all the chances to stand to take advantage of this ingenious technology.

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What you need to know about cryptocurrency trading bots

[ad_1]

Is cryptocurrency of particular interest to you? Want to learn more about the tools that will allow you to make the best deals? So, you better slap your eyes with cryptocurrency trading bots. Sounds curious, doesn’t it? In an era where bots seem to be used almost everywhere, it is not surprising that they have been introduced even in cryptocurrency trading. Let’s find out more about these bots and clarify the key aspects.

Cryptocurrencies (or crypto) trading bots are computer programs that allow you to buy and sell cryptocurrencies at the right time. They strive to bring profit to their customers and ensure that they have a long-term advantage. Bots closely monitor market conditions and execute trades based on predefined algorithms. It should also be emphasized that you are free to set your own parameters that will contribute to the execution of various transactions. This type of software is able to respond almost a thousand times faster than human – so its operational efficiency can not be said.

Crypto trading bots can be divided into many types. Among them you can find bots, following trends, arbitration bots and scalping bots. According to bitcoin.com, however, the most popular are arbitrage bots.

Trend bots are useful if you focus mainly on trends once you are in the process of building your strategies. These bots are able to follow trends and decide when it is profitable to buy and / or sell something.

Scalping programs make it easier for their users to present themselves more effectively in side markets. This means that “scalpers” (as these consumers are often called) manage to buy something at a low price and resell it at a higher bargain price.

As for arbitrage bots, they should earn by researching the prices of multiple exchanges and taking advantage of price discrepancies.

Once or if you have decided to try to implement cryptocurrency trading bots in practice, then you need to consider which of them will be able to meet your business needs. Note that all bots have different software and hardware requirements. Consider all aspects before deciding.

Once all the formalities are settled, you can proceed to the installation procedure. In fact, you can get a trading bot by using one of the three options below:

  • Get it for free through an open source platform;

  • Get a paid version of a licensed bot;

  • Create a trading bot (provided you have enough technical knowledge and skills).

After processing all the details above, you have probably formed an opinion about crypto trading bots. Still, let’s summarize all the advantages they have over people.

  • Speed: without a doubt, bots run a hundred times faster than humans

  • Durability: bots can work 24/7 without breaks

  • Capacity: bots can process gigabytes of data per second

  • 100% objectivity: bots are not prone to any emotions. They just do what is required.

However, many experts say that some cases require subjective thinking and thus people can surpass heartless bots. But these are isolated cases, and given that bots offer so many great opportunities, you will definitely be in a better position once you give them priority.

As you can see, cryptocurrency trading bots are proving to be really useful and multifunctional, allowing you to generate a lot of profit. Just keep in mind that to give them a full game, we strongly recommend that you look at the details of the bots. And then you put all the chances to stand up to take advantage of this ingenious technology.

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