Trading cryptocurrency can be a very interesting way to earn income if you follow the tricks enclosed in this article. Here is why I think trading makes sense and why i choose to share my experience as a trader in multiple trade platforms. Read through and take note of the key points so you do not repeat same mistakes that i made.
MY EXPERIENCE AS A TRADER
I started trading crypto currency approximately 3 years ago. Over the years I used different trading AND EXCHANGE sites like BINANCE, BINANCE DEX. Bitstamp, COINBASE, Bitfinex AND EVEN SOME NEWER TRADING SITES THAT I WILL NOT MENTION HERE FOR PRIVACY REASONS.
CRYPTO exchange sites do not offer much compared to a typical trading site. The trading sites introduce new coins or tokens on weekly or monthly basis
Traders acquire these coins and hold them for a while until the tokens are sold out before trading for gains.
Trading crypto as a beginner can be very tricky especially if you are not conversant with latest coins or tokens. It is advisable that you make your own personal research before investing on any coin or token.
The most important thing to take note of is the market capital, stability and trade mass (number of investors and daily trades).
You stand a chance to make good daily returns with new coins and tokens that have reasonable trade volume. Do not invest in any token or coin with poor trade volume.
HOW TO TRADE CRYPTOCURRENCY
firstly, Do not trade on one trading platform. Make sure to set up accounts separately on different platforms preferably with different email addresses and passwords.
Write down your passwords on a notebook and keep it safe. do not store your ID or Passport on your computer or mobile.
Make sure to study each trading platform by looking at the promotions they have and the latest coins or tokens.
Do not rush into investing and do not invest more than 75-100 USD on each token or coin that you plan to trade.
Most importantly, buy when you see the red color ( WHEN THE COINS ARE AT THE LOWEST POSSIBLE PRICE). The more reason why you must study the trading platforms for at least a week before investing.
Once you purchase the tokens or coins at the lowest price, trade them against the native coin of that trading platform.
Your daily income is dependent on the amount of money you invest but it is more advisable to invest a little first. never store your tokens or coins on the trading platform if you plan to hold them for a longer period.
Some coins are worth holding while others are just for daily trades. Do not hold any coin with low capital investment and trade volume.
You can make up to 100 USD DAILY BY TRADING AND EVEN MORE IF YOU TRADE WISELY. YOU CAN ALSO LOOSE ALL YOUR INVESTMENT IF YOU GET HACKED
HACKERS CAN STEAL YOUR PASSWORDS AND MANIPULATE YOUR TRADES ON TRADING PLATFORMS SO STORE YOUR PASSWORDS WHERE ONLY YOU CAN SEE THEM.
FINALLY, download cold wallets on your PC if you plan to HODL BITCOIN, store your tokens safely and never disclose your private keys.