Most exchanges offer cryptocurrency trading with the need of Bitcoin (for example Ether for Bitcoin, or Bitcoin for Litecoin), this is why Bitcoin is the first thing you should consider buying. Most exchanges also accept different payment methods like online bank transfers, PayPal or Creditcard.
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Themajority of cryptocurrency exchanges have a free a walletalong the ability to trade, but we suggest, that you dont put all your cryptos in one place. This way you can minimize your risk of an exchange going broke (f.e. MT GOX), being scammed or getting hacked.
The human mind can only follow several indicators at a given time. A Bitcoin (or other crypto-currency) bot can follow and try all the indicators at any time on all the cryptocoins.A Bitcoin bot doesnt need sleep a bot can be active at any time you wish, this allows to have a better sound, because you can be sure, that the bot will trade if something crucial happens.
A margin is required to be able to leverage a trade.
Let us make a 10:1 leverage example. Let the Bitcoin price be $500. Let us assume that you only have 500 USD but you want to buy 10 BTC. This is possible, but you will have to pay an interest for borrowing $5000 after you close your position. For example, the BTC closes at $550. So you have made $500 or a 100% earnings for only a 10% price increase. From this earnings, you will only need to subtract the interest rate (about 2%) and you have your final profit/loss, which is higher if you predicted the course of the trade correctly.
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If you want to maximize the return of the coins you currently have, then you should read our article onbitcoin lending on exchanges
Now that you know what forex and cryptocurrency exchanges/brokers are. We wanted to present you a list of so-called cryptocurrency forex exchange hybrids initially forex platforms, which now also offer crypto as a trading option:
This is why Brokers tend to have rates slightly above the exchange if you want to buy from them, or slightly above if you want to sell to them.
Cryptocurrency Trading is analternative way to get involvedin theCrypto-World! It doesnt require mining hardware nor investing inbitcoin hyipsorbitcoin cloud mining(which always has risk involved in their integrity).
The smart alternative of forex trading
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The spread of BTC/USD is intuitively bigger than the one of USD/EUR, since the market is less liquid. There is no rule of thumb, but you should expect that the spread is at least 10 times bigger in the crypto world!
One big difference to Forex are thebig spreads. A spread is thedifference betweenask and bid prices. The ask price is the highest price that someone wants for a given cryptocurrency, this is essentially the buying price. The bid price is the lowest price someone is willing to give you for a given cryptocurrency, this is basically the selling price.
Please help us make the list even bigger. You can always easily contact usover here.
A bigger spread opens up the possibility for the trading strategy called cryptocurrency scalping. Often utilized by market makers.
4/ Join their Telegram Group and confirm
Now after you bought yourself some Bitcoin, the time has come tochoose your exchange platform. This is where you are able to instantly trade one cryptocurrency into another. Take note of the currency trading pairs each exchange has a list of their own. There are exchanges, where you are able to only exchangeBitcointo Altcoin, butnot Altcoin to any otherAltcoin. This hinders the ability to trade fast and flexible. That is why we have made alist of the best crypto-exchanges. On this list you can find the most competitive bitcoin brokers available, offering lowest transactionfees.
Buy weeks before a roadmap (of development) gets revealed. It is like the stock earning releases something gets so hyped-up that even a good report cant help it.
Store your cryptocurrencies at yourcold bitcoin hardware wallet so your coins are 100% secure, or
2/ Answer some very simple question (no need to give you the answers)
Trading Bitcoin, Ethereum or Litecoin explained
The first thing you need is awallet. Only then you are able tobuy cryptocurrencieslike Bitcoin or Ether and protect them. We have made aguide on how to obtain Bitcoinalready, check it out if you dont already posses one.
Never buy into a coin after a dump.
On the first look, a cryptoexchange trading platform and a brokers platform might look the same. But there is indeed a big difference.
You have the option to use leverage trading on some Forex and Cryptocurrency Exchanges.
Blockchain Conferences Cryptocurrency Events
Learn to understand the correlation between Bitcoin and an altcoin.
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Cryptocurrency Tradingis the Forex (Foreign Exchange) of cryptocurrencies. This means that you are able to trade different cryptocurrencies like Bitcoin, Ether, Litecoin for USD. Most Altcoins (cryptos that are not Bitcoin) are paired with Bitcoin. The bigger ones are also paired with fiat currencies.
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On the other hand, if you want to start trading Forex, opening an takes several weeks. They usually need to follow security measures and send you your the sign-up forms and access code per mail. Not to mention that it takes days until the transferred money from your bank account is arrives at your Forex Broker.
Learn technical analysis. This plays a major role in reading current market movement.
Here is ourlist of most important trading rules, which we recommend you to follow:
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Financial bots haveexistedformany years, but they were only accessible to the brokers and banks. Just the Bloomberg API cost 10000$ per year.Bitcoin Bots are different. They are managed on an external cloud/server, which means you dont need to have your computer running all the time.The strategies are pseudo-coded so you can say for example, if this indicator crosses that indicator, then buy. Else wait for that indicator. Most bots are user made with different ratings, which allow you to choose easily from several strategies, without the need to program any code at all. For this way you can follow one of the profitable trading bots. Check out ourCryptoTrader Review & day to day testto see if this is something for you, or not!
5/ Follow the different social task that the bot will give you
After opening an exchange account, you need totransfer an amount of Bitcoinfrom your wallet to your exchange account. Another option is to deposit fiat currencies (like USD, EUR etc.) but take into consideration thefact that there are higher fees attached to those transactions.
Why do we suggest the first point? Well, becausethe point of a decentralized currency is, thatone can be his own bank! And one has full control over his cryptocurrencies.
Go to crypto events. That is the place you will find the hottest coins!
Learn to understand candlestick charts. They offer significant information, which cant be figured out of normal lined charts.
A cryptocurrency Exchange is trying to match buyers and sellers, bids and asks.
After reading all this bitcoin (altcoin) cryptocurrency trading text here some things, which might interest you as well:
Followour (and your own)rulesand you will be able to take advantage over the people who dont. Also, you will be able to detect which cryptocurrencies are scams and which have potential to skyrocket like Bitcoin. This shall be ajourney, which we will take with you, wherewe will try to find thesafest and most promising opportunitieson the crypto-market!
A cryptocurrency Broker is buying or selling the cryptocurrencies directly to you.
As a conclusion you need tobe careful where you invest and dont forget:never invest what you cant afford to lose.
Learn to understand the Block (or any) -chain.
Dont trade if you lose your sleep because of a single trade. That is just not worth it.
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We see thecryptotradingas a great opportunity to make goodmoney.Many coinsquadrupletheir value in less than a week. Though you always need to be cautious, because there are lots of fake coins, pump & dumps, schemes and ponzis.
Leverage Tradingis the possibility to trade an amount, which you dont have at your disposal. Normally Cryptocurrency Exchanges offer a leverage of up to ten to one (10:1). This means, that for each dollar you get 10 dollars of buying or selling power.
It should be also mentioned that crypto-trading is easy to leave. Just transfer your Bitcoins out of the exchange into your wallet and you are done. We dont even want to start talking about how nerve-racking it is to quit your broker.
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To start trading bitcoin and earning money, you really needless than an hour for the how to steps, just scroll down.
There is lots of value created bypump- & dumpersso watch out! Always set a goal, which you want to achieve, e.g. 2% or 35 USD per day. If you dont check you exchanges daily, then the best thing you could probably do isadd a limit order. A limit order is executed, when a specific price is reached.For example, if you buy Ether for 0.05 BTC. You can make a limit sell order for 0.075 BTC. This means that you will automatically sell your Ether when the value is higher than 0.075 BTC. This assures, that you dont miss any big price movements- it can always fall back to 0.05 before you can see the profit opportunity.
In conclusion, this means a higher risk and a possible higher reward.
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Important notice for Bitcoin newcommers: Like stated above, hacks on crypcurrency exchanges do happen. This is why, if you just trade occasionally there are two things you can and should do:
Margin Trading: You are allowed to use coins from peer-to-peer margin funding providers. This means, thatyou can borrow buying/selling power, but you need to allocate some funds (=margin) which wont be accessible until you return the lent coins.
Though most cryptocurrency brokers are licensed to do what they do, so you can see this as a big plus.
Always do youre homework and read the fundamentals of a coin. If you read the whitepapers, you will know more than 90% of the people we know trade cryptos.
Never forget, that if in the same example the Bitcoin price would have fallen to below $450, then the crypto exchange would have liquidated your position and your account value would be zero.
3/ Submit your email and validate it
This is anold saying in the stock-trading scene, which is also valid in the cryptocurrency-trading-world! We are going to post our latest trades, suggestions and technical analysis on ourBitcoin blog, but you should not limit yourself only to us. Other sources aretwitter hashtagsfor the given coin andcrypto-forumslike reddit for example.