This website uses marketing and tracking technologies. Opting out of this will opt you out of all cookies, except for those needed to run the website. Note that some products may not work as well without tracking cookies.
Opt Out of CookiesHow To Profit in Cryptocurrency Trading
By Roland S Cartagena
I have been into trading cryptocurrencies for a few years now and still find many new traders who go into trading even without some basic knowledge about cryptocurrencies much more on trading them for profit, as a result they loose their coins, and the sad part is, some fall victims to scammers. This has given the crypto world bad taste to the online community. This is the purpose of this article to guide beginners how to trade with profits and success.
What are bitcoins, altcoins, cryptocurrencies?
For me bitcoin is simply a virtual money produce only online by solving complex mathematical problems known as mining. Altcoins are also virtual monies, they differ with bitcoin only on how they are earn or produce, some altcoins use staking wherein coins earn interest in wallets as opposed to bitcoin where you need computer machines to mine them. Cryptocurrency is the general term use in virtual monies which include bitcoins and altcoins.
What is Profit Trading?
Profit trading in cryptocurrency is buying coins in its lowest price, then selling them at the highest possible price reaping you with good profits. As the saying goes "buy low, sell high" is the core component of profit trading. The best and safest way to do profit trading is in the exchange sites.
Where to find good exchange sites to trade?
The first thing to do if you haven't done this yet is to find a good crypto exchange site and register, i would recommend a few good ones where i have been using and trading and making good fortune on these sites for years now. Just a few reminders before you start registering on these sites: Be sure you do not enter the same or similar passwords or username you have with your other sites like your email, Facebook sites, there were others who became victims of hacking incidence due to this poor practice. Write down your passwords so it will become in handy whenever you forget it. These are the crypto exchange sites i have been using for years that gave me good profits just click on each name and register:
BINANCE - A cryptocurrency exchange with a lot of earning features including staking of cryptocoins.
YOBIT - A cryptocurrency exchange with hundreds of altcoins. Most new coins are launched here.
BLEUTRADE - A unique cryptocurrency exchange with free faucet and can own blue shares of the company where you can earn dividends.
HITBTC - A very advance bitcoin and cryptocurrency exchange with very good support service.
Where to get the initial investment for free?
Now that you have a crypto trading site, you need an initial capital in bitcoins or altcoins to be used for profit trading which is buying coins and selling them for profits. Most of these trading sites have a minimum trading amount of 0.0001BTC or 10,000 SAT (satoshis). I strongly suggest for beginners to trade first in the minimum amount to experiment and try trading so as to put your risk of loss to a minimum. You don't even need to invest a dime to start trading, you can collect free bitcoins and altcoins from faucets, in just a day, you can easily raise the minimum amount of BTC to be used for trading. Be careful with some other faucets though, they do not pay and have viruses on their sites!
How to avoid newbie pitfalls and being "scammed"?
Before you start trading, it is important that you familiarize and orient yourself first with the different functions of the tabs and menus found on your site so you can maximize the benefits and minimize the risk of having problems with your site. For instance, Yobit have chat box, where you can communicate with other users. Just a word of caution about these chat boxes, do not listen to what they suggest to buy coins there, most of these are trolls trying to trick newbies into buying unprofitable coins which they usually call "scam coins", "shit coins" or "dead coins". These coins have lost their value. Nobody are buying these coins anymore. Most of these coins are being sold for just 1 SAT each, so cheap for a newbie to fall into the trap. Once you bite the bait, you lose the entire purchase amount because you will not be able to sell it back, you will take your seller's shoes, you will now become what traders call "bagholders". There are also instances where some scammers would offer to sell their coins directly through the chat boxes, once you deposit your bitcoins unto their wallets, they will not give you back the coins you agreed to purchase. for your safety, do not do business at chat boxes, use it only for information purposes. Most of the time coin developers or the chat moderators make announcement at chat boxes about updates of coins and trading matters.
How to buy and sell?
You have to familiarize yourself with the buy and sell panel. You can place your orders either on the buy side or the sell side. The buy side usually found on the left side of your screen (see actual sample below), is where you can instantly buy the coins from sellers with sell orders. Take note that the lowest selling price is the first in line. If you want to sell your coins at a good price, you should place your orders here. The sell side found on your right is where you can bid or want to buy coins lower than what is sold in the buy side. Take note that the highest bidder is in the first line. However, if you want to sell your coins instantly at a price lower than what is sold and probably at a loss, then you can dump your coins here.
What kind of coins to buy and trade?
Beginners usually ask this question. With hundreds of different kinds of crypto coins to choose, it is understandable for a newbie trader to get confuse in choosing the right coin. For a start, I suggest to choose one among the top twenty highest volume of coin trading. High volume coins give you fast return of profits because a lot of traders are buying and selling these coins, consequently making the risk of loss and your profit margin much lower. High volume trading is a low reward, low risk kind of trading which is suited for beginners. To illustrate an example, you can start to trade with doge coin, most of the time doge coin is among the top 20 highest volume of coin trading in most trading sites. For instance, with a minimum investment of 10,000 SAT you bid and buy doge for the price of 39 SAT then sell it for 40 SAT, your profit margin is only 1 SAT which is small, but if you look at it in terms of percentage, your profit margin here is around 2.5% not bad, especially if you could repeatedly earned this three times a day, you could have a total of around 6.3% net profit for a day ( we need to deduct 0.2% trade fee for each transaction or a total of 1.2% if you buy/sell three times a day). This example is only for one coin, with just the minimum investment. What if you add another two kinds of high volume coins and slowly increase your investment daily in each coin? your net profit will exponentially grow each day!
Be warn though, that not all high volume coins are profitable to trade, there are coins, especially the new ones, that have high volume trading for the first few weeks only, after that the coin simply lost its trading appeal and went to the graveyard of dead coins. That is why it would be prudent to invest on coins that have been a high volume trading in the exchanges for at least a year. To know more about coins, you can go to coins info tab of the exchange site, go to the forum of the coin community, read their posts and you'll find out more about the coins.
Some Reminders
♦ Always research first about the coin you want to invest. Ask these questions: Who are the developer of the coin? Who supports the coin? What are the goals/objectives of the coin? answers to these questions could somehow give you a picture if the coin will remain profitable in the future.
♦ Invest only what you can afford to loose. After you have experience few success in trading, you might be tempted to go all out and invest in huge amount. There is always risk involve in trading, you might earn big in just trading for a few minutes, but you can also loose big in a few minutes!
♦ Practice trading, hone your skills in trading, soon you will discover many things, i personally find trading cryptocurrency fun, exciting and very profitable.
If you find this article helpful, you can give your tip to the DOGE address below:
DDhpM1N4ymahm4rdxkcpEBnHvQ7bmonrtU
By Roland S Cartagena
I have been into trading cryptocurrencies for a few years now and still find many new traders who go into trading even without some basic knowledge about cryptocurrencies much more on trading them for profit, as a result they loose their coins, and the sad part is, some fall victims to scammers. This has given the crypto world bad taste to the online community. This is the purpose of this article to guide beginners how to trade with profits and success.
What are bitcoins, altcoins, cryptocurrencies?
For me bitcoin is simply a virtual money produce only online by solving complex mathematical problems known as mining. Altcoins are also virtual monies, they differ with bitcoin only on how they are earn or produce, some altcoins use staking wherein coins earn interest in wallets as opposed to bitcoin where you need computer machines to mine them. Cryptocurrency is the general term use in virtual monies which include bitcoins and altcoins.
What is Profit Trading?
Profit trading in cryptocurrency is buying coins in its lowest price, then selling them at the highest possible price reaping you with good profits. As the saying goes "buy low, sell high" is the core component of profit trading. The best and safest way to do profit trading is in the exchange sites.
Where to find good exchange sites to trade?
The first thing to do if you haven't done this yet is to find a good crypto exchange site and register, i would recommend a few good ones where i have been using and trading and making good fortune on these sites for years now. Just a few reminders before you start registering on these sites: Be sure you do not enter the same or similar passwords or username you have with your other sites like your email, Facebook sites, there were others who became victims of hacking incidence due to this poor practice. Write down your passwords so it will become in handy whenever you forget it. These are the crypto exchange sites i have been using for years that gave me good profits just click on each name and register:
BINANCE - A cryptocurrency exchange with a lot of earning features including staking of cryptocoins.
YOBIT - A cryptocurrency exchange with hundreds of altcoins. Most new coins are launched here.
BLEUTRADE - A unique cryptocurrency exchange with free faucet and can own blue shares of the company where you can earn dividends.
HITBTC - A very advance bitcoin and cryptocurrency exchange with very good support service.
Where to get the initial investment for free?
Now that you have a crypto trading site, you need an initial capital in bitcoins or altcoins to be used for profit trading which is buying coins and selling them for profits. Most of these trading sites have a minimum trading amount of 0.0001BTC or 10,000 SAT (satoshis). I strongly suggest for beginners to trade first in the minimum amount to experiment and try trading so as to put your risk of loss to a minimum. You don't even need to invest a dime to start trading, you can collect free bitcoins and altcoins from faucets, in just a day, you can easily raise the minimum amount of BTC to be used for trading. Be careful with some other faucets though, they do not pay and have viruses on their sites!
How to avoid newbie pitfalls and being "scammed"?
Before you start trading, it is important that you familiarize and orient yourself first with the different functions of the tabs and menus found on your site so you can maximize the benefits and minimize the risk of having problems with your site. For instance, Yobit have chat box, where you can communicate with other users. Just a word of caution about these chat boxes, do not listen to what they suggest to buy coins there, most of these are trolls trying to trick newbies into buying unprofitable coins which they usually call "scam coins", "shit coins" or "dead coins". These coins have lost their value. Nobody are buying these coins anymore. Most of these coins are being sold for just 1 SAT each, so cheap for a newbie to fall into the trap. Once you bite the bait, you lose the entire purchase amount because you will not be able to sell it back, you will take your seller's shoes, you will now become what traders call "bagholders". There are also instances where some scammers would offer to sell their coins directly through the chat boxes, once you deposit your bitcoins unto their wallets, they will not give you back the coins you agreed to purchase. for your safety, do not do business at chat boxes, use it only for information purposes. Most of the time coin developers or the chat moderators make announcement at chat boxes about updates of coins and trading matters.
How to buy and sell?
You have to familiarize yourself with the buy and sell panel. You can place your orders either on the buy side or the sell side. The buy side usually found on the left side of your screen (see actual sample below), is where you can instantly buy the coins from sellers with sell orders. Take note that the lowest selling price is the first in line. If you want to sell your coins at a good price, you should place your orders here. The sell side found on your right is where you can bid or want to buy coins lower than what is sold in the buy side. Take note that the highest bidder is in the first line. However, if you want to sell your coins instantly at a price lower than what is sold and probably at a loss, then you can dump your coins here.
What kind of coins to buy and trade?
Beginners usually ask this question. With hundreds of different kinds of crypto coins to choose, it is understandable for a newbie trader to get confuse in choosing the right coin. For a start, I suggest to choose one among the top twenty highest volume of coin trading. High volume coins give you fast return of profits because a lot of traders are buying and selling these coins, consequently making the risk of loss and your profit margin much lower. High volume trading is a low reward, low risk kind of trading which is suited for beginners. To illustrate an example, you can start to trade with doge coin, most of the time doge coin is among the top 20 highest volume of coin trading in most trading sites. For instance, with a minimum investment of 10,000 SAT you bid and buy doge for the price of 39 SAT then sell it for 40 SAT, your profit margin is only 1 SAT which is small, but if you look at it in terms of percentage, your profit margin here is around 2.5% not bad, especially if you could repeatedly earned this three times a day, you could have a total of around 6.3% net profit for a day ( we need to deduct 0.2% trade fee for each transaction or a total of 1.2% if you buy/sell three times a day). This example is only for one coin, with just the minimum investment. What if you add another two kinds of high volume coins and slowly increase your investment daily in each coin? your net profit will exponentially grow each day!
Be warn though, that not all high volume coins are profitable to trade, there are coins, especially the new ones, that have high volume trading for the first few weeks only, after that the coin simply lost its trading appeal and went to the graveyard of dead coins. That is why it would be prudent to invest on coins that have been a high volume trading in the exchanges for at least a year. To know more about coins, you can go to coins info tab of the exchange site, go to the forum of the coin community, read their posts and you'll find out more about the coins.
Some Reminders
♦ Always research first about the coin you want to invest. Ask these questions: Who are the developer of the coin? Who supports the coin? What are the goals/objectives of the coin? answers to these questions could somehow give you a picture if the coin will remain profitable in the future.
♦ Invest only what you can afford to loose. After you have experience few success in trading, you might be tempted to go all out and invest in huge amount. There is always risk involve in trading, you might earn big in just trading for a few minutes, but you can also loose big in a few minutes!
♦ Practice trading, hone your skills in trading, soon you will discover many things, i personally find trading cryptocurrency fun, exciting and very profitable.
If you find this article helpful, you can give your tip to the DOGE address below:
DDhpM1N4ymahm4rdxkcpEBnHvQ7bmonrtU