Cryptocurrencies are in trend now. Here we will discuss the beginner’s guide for trading cryptocurrencies, and it surely helps to find out the necessities of cryptocurrencies.
If you have decided to start exploring cryptocurrencies, you need to have an account. It is as simple as a real-world stock exchange. It is a simple trading system by which you can do the transactions and make funding for you.
In this guide, we have given the instructions on how to become the winner of cryptocurrencies. There will be a complete step by step guide with images that will help you to find out the major crypto trading.
By the end, you will have all the information and trade on your own. So what are you looking for?
Here, I will show some short term trading and long term trading as well with its advantages and disadvantages.
NEED TO BE CAREFUL ABOUT ‘FUD’
When you have decided to start purchasing crypto, you should keep it in your mind that there is a chance to lose your investment. As crypto trading markets are volatile, some people can gain where some loose.
FUD is a well-known term in the crypto trading analysis. This stands for Fear, Uncertainty and Disinformation. (Source: Google)
When people try to invest in these agencies, FUD gives you precautions regarding this and influences no to invest. It is somehow considered as “It’s a scam”, or it’s “Going to crash”.
Do your research to get the proper knowledge and then starting to invest.
RISK MANAGING FACTORS WHEN TRADING
Here are some well-established risk managing factors you should know before purchasing cryptocurrency:
ü Misleading technologies
ü Volatile market
ü Lack of knowledge about business analytics
ü Maintenance of your presence
ü, Keep yourself away from scams.
If you have managed to all those things, nothing can stop you. Go ahead and purchase your first coin.
WHAT DO YOU NEED BEFORE STARTING TRADING
Below mentioned things you need to know before jumping into the trading:
A good website: Now you need to know a right and proper website which provides spot trading, margin trading, arbitrage trading and futures trading.
HOW TO START AND FROM WHERE TO START TRADING CRYPTOCURRENCIES
Lets’ start this beginners guide! Here you can find where and how you can trade cryptocurrency.
Visit the Coinbase website. Now make a username and a password on your own. After that, you need to confirm your registered mobile number and email address.
The first steps are as follows:
ü Click on Buy/Sell at the top of the screen.
ü, Add a payment method. Click on Add Payment Method. Choose the option debit/credit card.
ü, Click on Upload ID.
ü You can upload a passport, driver’s license or a government-issued ID card.
ü After uploading your ID, you will get the below confirmation.
The next steps are as follows:
ü, Enter the billing address for your debit/credit card.
ü Now enter your debit/credit card details.
ü That how simply, you can have a verified account.
The first following steps are:
ü Click on Wallet, then Spot Wallet.
ü, See your Bitcoin wallet address.
ü Click on “Buy cryptos” and select the value you have to invest for.
The next steps are:
ü Click on trade, then Basic and select the market on which you want to trade
ü After that, it is wholly set to start trading cryptocurrency.
There are also some other trading agencies from where you can start purchasing. Here are those valuable websites:
This is a US-based exchange which is active since 2013. It is an excellent platform to start your venture into crypto trading. It provides security for all.
It is active since 2012. The headquarters is in Hong Kong. They offer USD, EUR and GBP as well.
When you have too much experience about trading cryptocurrencies, then this is the best option to invest further. It has some powerful backup from developers, economists and also traders. This is considered to be one of the busiest exchanges.
This is a straightforward platform where you can buy bitcoin using your credit or debit card. This provides a hassle-free exchange facility.
RULES and TAXES
Trading cryptocurrency has been emerging in these days. High volatility and trading volume are vital in terms of cryptocurrency. The government of many countries had been plotting to manage the taxes and in the regulation of new currencies due to the digital market. It is essential to know these rules before beginning the trade process.
The government officials were uncertain to classify the cryptocurrency between currency and property. In the year 2014, new trading rules for cryptocurrency was announced by the US, which indicates that the trading will belongs to the umbrella of property. Traders are categorized as investors and should conform to their complex reporting requirements. You can found the respective Details in the IRS notice 2014-21. (Source: Google)
Considering the possible events for complicated reporting procedures, your tax payment would have been affected by the new regulations. The US, the ‘property’ ruling would indicate the earnings will be noted as capital gains tax (15%) which is considered in place of regular income tax (25%). The tax planning for each country would vary on their adaptive nature in the digital market. To avoid further problems, you need to do some research about the tax you are planning to pay.
So this is the full guide to trade cryptocurrencies. If you have read this whole article, you must have complete knowledge about crypto trading. Hope you will understand how to manage your crypto account.
Trading cryptocurrencies is as same as fiat trading. You have learned so many things from this article:
We think that this beginner’s guide is more appropriate to make your first exchange. We hope you will be successfully initiated your cryptocurrency trading.
So, what are you waiting for? Have your cryptocurrency. All the best!
In a revolutionizing world, getting work done in a few clicks is the essential ease that every person seeks for. Having a wholly digital and reliable approach, 3Commas provides a cryptocurrency trading platform where it helps traders use an automated trading bot and portfolio management. It also updates about successful traders and allows them to copy by assessing their statistics which helps the beginners to make their own trading strategies. Overcoming the limitations, it provides a crypto universe which executes multiple trades on all exchanges from a single window. While maximizing investor’s profits, it aims to help minimize risks, and limit their exposure to losses.
3Commas performs a number of functions and with this ease comes the question of security. Like all other trading bots, 3Commas also maintains data security and protects their user’s personal data. It confirms that if there is any security breach, they take the necessary steps.
The trading bot doesn’t use any physical funds, and they don’t even have access to make any withdrawals from the linked accounts of their users. They are connected to their user’s accounts via API and trade according to related exchanges. There is no need for any user to make any crypto transfer to their accounts linked externally, and all the trading exchanges can happen via the generated API. This provides absolutely no access of the external accounts to the trading bots, and hence there are no withdrawal rights granted too. Also, the standard rules of personal security of crypto do apply.
As we are now well aware of how safe it is to use 3Commas, let us explore its workings. Firstly, we need to make an account on the website by linking it to the mail account that demands the mail ID and password. With this, we get access to the dashboard, which requires to select a bot among the mentioned one, i.e. short, simple, composite, and composite short bots.
The simple trading bot can be accessed with the most ease. Further, we have to connect to a Binance account which should be connected via API and holds BNB. Then, we can name our bot. Further, we select out trading pair and decide on the currency we would initiate with. Also, it is highly recommended to set a safety trade size to manage trading in a controlled manner.
Eventually, we can set target profits which will guide the trading bot to function according to the set percentages. We need to opt from the available option as to how we take our profit percentages which will be either base trade or from the total volume. For maximizing profits and trading without losses, we should set maximum safety trades to count as it helps in better function and guides the trading bot for the number of safety trades done.
Also, we need to set price deviation as percentages for the trading bot to begin executing safety trades accordingly. Finally, we need to instruct the trade start condition from the available options, i.e. TradingView Signal Buy or Strong Buy, TradingView Signal Strong Buy, Manually, or Open New Trade ASAP.
Do you know why is it so important to use the right exchange platform when you trade with cryptocurrency? If you don’t have a vivid idea; then you do not need to worry about it. You will come to know as you go through this article. So, stay tuned here.
Crypto-currency is a kind of currency that cannot be touched like the currency you have in your purse or wallet. One might think if this currency is not like the currency that is kept in the purse, then what is the meaning of currency? So, it is a digital currency, and it is stored digitally with the help of an app or an online platform. It is invested digitally or online as well. In some states, it is not legal to use crypto-currency.
Bybit has been grabbing commendable reviews for some years. Let’s get to know what these are.
If you like trading with Bitcoin or any crypto-currency and you haven’t used Bybit app before, then this page is meant for you. Bybit is an exchange platform where you can not only be aware of the variation of the value of crypto-currency but also you can trade with this app. Before you use this app, you are suggested to take a look at the review section here once.
If a survey is ever conducted to know what means of payment do the people use, the most common answers would be cash and mobile wallets like G-Pay, PayTM, PhonePe etc. If the technological advancements are to be considered and if implemented for a more secure and swift transaction with very fewer customer issues, then Bitcoin would be focused on in the upcoming years. Bitcoin is a cryptographic currency (a virtual currency that gets stored on your device). It has gained its craze since its inception, and in upcoming years, it may dominate over cash and mobile wallets.
There are many payment options by which we can buy the Bitcoins, but cards have become more popular and secure. We will be looking at the sites where you can buy bitcoins easily with debit or credit card.
There are numerous sites where you can get the bitcoins via credit or debit cards, but we have to be very sure of the transactions. Here are some of the famous and widely used sites where you can get your bitcoins instantly.
It is one of the trusted sites to purchase the bitcoins via debit or credit cards. All you have to do is verify your account on the site and add your card in the card sections. The card may take one or two days to get confirmed, but once it is verified, you can use it to purchase the bitcoins.
Here, unlike the other sites, you have to add your Bitcoin Wallet address, where you wish to receive the bitcoins. It does not offer you a Bitcoin Wallet. The prices of bitcoins are higher here as compared to Cex.io.
It is an idle platform for crypto trade as it serves in all countries, except the USA. The company promises to provide a lot more features as compared to other sites. It also promises to give high rates as it has got a lot of sellers and buyers involved.
This site sells popular cryptocurrencies, including BTC. It is one of the locations where you can quickly get your bitcoins from your very first transaction. They also support a variety of cards powered by Visa, MasterCard, American Express so that there can be no issues during operations. All you have to do is verify your card first, and then you can start using it very frequently.
It provides complete solutions for crypto trading, mainly for UK residents. You have to get yourself verified on the site, and you will get access to crypto linked bank account. Then you can use it to buy BTC anytime, anywhere.
These were some of the famous and trustworthy sites from where you can buy the bitcoins easily via debit and credit cards. If the developments are considered, bitcoin is going to dominate the market, and it will gain a lot of importance in the upcoming years. If you find it worthy and you are genuinely interested in investing in Bitcoin, then do visit the sites as mentioned above that help you to get them instantly. Till then enjoy your trading!