Cryptocurrency trading is more popular today than ever. You can buy or sell bitcoins in several ways:
- Directly with other users of the system.
- Open an account on one of the stock exchanges and start trading bitcoins.
Each exchange has its own set of tradable instruments (tokens, crypto currency), so it makes sense to register at once on several. The main parameters by which the exchanges can be classified are liquidity (trading volume), commissions and reliability. It is worth noting that not every exchange can make a deposit in fiat money (the usual dollars, euros, rubles or hryvnia). Most exchanges accept deposits only in crypto-currencies. For example, cryptocurrency exchange Poloniex.The exchange supports Fibonacci levels, has various timeframes and clear detailed schedules. One of its main advantages is convenient navigation: news, chat, markets (BTC \ USDT \ XMR) – all presented on one screen. Markets are sorted by several parameters, including price changes, volumes, alphabet. You can customize your favorite pairs. Trades on the markets reach considerable sizes: 134272.130 USDT, 5328.618 XMR, 62529.825 BTC. The daily volume is also large: 60,000 BTC or $ 28,264,115. If we talk about fork turnover, then Poloniex is among the top exchanges.
The market of crypto-currencies for today is one of the most promising and fast-growing markets in the world. Some digital coins add up to a hundred percent over a month, and the size of the investors’ capital also grows with them. Cryptocurrency trading lawsare constantly changed. The main principle of investment and, in particular, speculation in the financial market – is to buy at the lowest price and sell at the maximum. Therefore, do not rush to buy crypto-currencies at the peak of their growth. The best option is to wait for a corrective price reduction, which is guaranteed after each new growth price. In order to correctly choose the time of investment in crypto currency, you need to learn how to analyze their quotes. To do this, you can use one of the many on-line quotes services where it is possible to independently analyze the market and find the most optimal levels for the acquisition of digital money. In addition, cryptocurrency trading platform and service providers associated with crypto-currencies must have a license to work.
Best cryptocurrency trading platform
Before you start trading, you must determine for yourself the site on which you will earn digital units. This means that you must choose a stock exchange. To do this, you will receive help from well-known blogs about crypto-exchange sites and your own feelings when working on the platform. Also, you must pay attention to the number of trading pairs on the exchange and commission for transactions. These two simple criteria will help you to get more opportunities for earning with less. If you are a beginner, and only get acquainted with the sphere of crypto currency, then you can turn your attention to these exchanges:
Cryptocurrency trading methods and currency quotes -cryptocurrency trading: legal or not?
In order to receive all current events, you must monitor all information channels related to currencies and react quickly to everything that happens. Fundamental analysis is the core of the Crypto-currency market. Technical analysis is an analysis that studies the structure of price changes. This means that with the help of technical analysis, we assess the prospects for the development of the value of the asset, based on its previous changes (exposing support and resistance levels, conducting wave analysis, etc.). Until recently, the use of technical analysis in the market for crypto currency was difficult, because we observed a constant and continuous growth. But, after a deep correction, we saw clear levels, and now we can navigate through them. By the way, our friends from TSI Analytics conduct an excellent analysis according to the Elliott wave theory, go to their channel and read.
How will the algorithmic trading system work: cryptocurrency trading meaning
The main thing is to choose the right platform for trading. For example, the cryptocurrency trading Kraken platform is one of the most reliable and such which offer the most favorable conditions for the trader. Trading on the stock exchange requires the beginners to learn basic indicators and trading instruments. Without knowledge of their work, it is impossible to build a profitable trading strategy. Therefore, the third lesson for beginners is as follows: pay attention to the key levels on the chart. They are formed by the tails of candles or bars and show where the big players are gaining ground and controlling the digital asset. All key levels are divided into support and resistance. The first do not give the price of crypto-currencies to fall lower, and the second, on the contrary, to rise higher. The principle of working with levels is simple: buy over the support line and sell under the resistance line. Protective stop orders that limit trade losses should be set for levels. The strength of the level is determined by the number of touches of the price. The more tails of the candles or bars hit the line, the stronger it is. Weak levels can break out the first time, and stronger ones – with the third or fourth attempt.