Successful cryptocurrency tradingof any assets has one formula: buy cheap, sell expensive. Crypto currency is no exception.
Exchange: cryptocurrency mining or trading? How to correctly trade the Crypto currency at cryptocurrency trading platform open source?
How to start trading currency on the exchange? To begin with, you need to buy it. The most important factor in the trader’s job is choosing the right trading floor. If your plans do not include trading little-known crypto currency, then it’s better not to mess with large stock exchanges, because it’s very easy to get confused in the complex functional and huge amount of currencies.
If you intend to trade only a few of the most popular types of crypto currency, you can stop at Kraken or Bithumb. Traders planning to trade in crypt or fiat – it is better to contact Bitfinex and LiveCoin. Also you can start trading cryptocurrency on Etrade and so on. In addition, special platforms are created for successful circulation of the cryptocurrency, for example, cryptocurrency OTC trading.How to correctly trade cryptocurrency at the exchange? Because at the moment there are very large numbers, so you need to choose the best exchange for your purposes. But during the search it is necessary to remember that the more money a day passes through the exchange, the more active the trade on it and this must be taken into account.
Selecting a pair
Having identified with the couple, you need to conduct a detailed analysis. Pay special attention to the time when the maximum growth occurred, as well as the decline in value. Here it is easy to do, since the analyst here is at the highest level! As we can see firstly trader need to select cryptocurrency trading software open source and then couple of cryptocurrencies.
Moreover, the backlighting of “glasses” is very well implemented on the stock exchange, having looked at which, it is easy to determine in which direction the course will go, which will allow you to plan in the near future how to trade crypto currency further. You need to be able to correctly use these “glasses” and timely implement or buy cryptocurrency, since this can greatly increase your funds. You can start trading cryptocurrency on eToro. Use the advanced risk management tools offered by the eToro platform to protect your positions. Evaluate the possibility of rapid fund replenishment and withdrawal, prompt execution of orders and the benefits of a free demo account of $ 100 thousand, allowing you to test your chosen trading strategy. It is one of most popular cryptocurrency trading platform in USA.
But do not forget that many newcomers in this business who sleep and see themselves as “authoritative solid traders”, but who do not actually have the slightest experience, are often driven by provocations of traders who have a lot of experience in this business. They perfectly understand the psychology of the newcomers and because of their naive attitude and lack of experience they do not badly increase their capital.Trading cryptocurrency on IQ Option has as many as three different approaches to the bitcoin exchange process, which makes one of the most reliable platforms on the Internet.Therefore, only you decide – join the majority or become a trader who thinks differently, and does not want to go with the flow.
Start deposit in trading on cryptocurrency
If you are willing to take risks, in order to break a good jackpot, the first deposit must be no less than $ 50. Although on this exchange you can start with $ 1. Starting the trade, you need to decide which of cryptocurrencies to give the advantage. For example, if you choose the currency of the Ether, it means that the main goal is to purchase it as cheaply as possible, and to realize it as costly as possible so that the profit will be invested again in this crypto currency when the rate is suitable for this. And you need to select personal device. You can start trading cryptocurrency on iPhone, Android and so on.
The basic rule of trade, without reference to the product, is to buy at the lowest price, and sell at the maximum. Being engaged in trade in crypto-currencies to observe this rule is simple, as the rates are dynamic and to invest money in some of the crypto-currencies, when its rate falls, it is very simple. There is always a desire to invest in the crypto currency when its price is at a minimum and sell when it reaches its highest peak. But, how do you determine which direction the course will take? Trading a commodity that almost always has a constant price (for example, dollars, precious metals), you can even predict the news in which direction the course will move, but with crypto-currencies everything is much more complicated. While the next issue of the news will be broadcast, the Crypto-currency can change its trajectory several times, depriving the trader of the desired earnings. An experienced trader needs to be able to analyze the market byhimself or herself, and on each of the exchanges there are special tools for this.