Bitcoin
Cryptocurrency
Trading

Crypto Trading Guide for Beginners

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.

  • Short term trading: Short term trading refers to those exchanges which last within a range of few days and few weeks. It sometimes lasts for a few years. You can buy a cryptocurrency thinking that the price gets higher within the short term. In this case, you would sell it by making a profit if you feel that the price value somehow was going to drop.

Advantages:

  1. The first thing is that this kind of trading offers to gain high price values.
  2. Cryptocurrency prices can almost double within a few hours.
  3. It has more opportunities to make a massive profit in trading.
  4. As a stock is trending upward throughout a day or two, it could be an opportunity for gains, and as stock trends downward, it could be an excellent opportunity to short the stock.

Disadvantages:

  1. Short term trading is too much risky.
  2. It is somehow unpredictable due to the volatile nature of prices.
  3. Short term traders often think to make a profit within short ranges so that you have to have a good sense of business analytics.
  4. When you have arranged to make good returns, you should invest in a long term basis. But beginners are afraid of it.
  • Long term trading: Long term trading is also known as position trading. It lasts for a few weeks or a couple of years, in this case. The trader will follow the exchange pattern over an extended period.

Advantages:

  1. It is a straightforward trading system and requires a little amount of time.
  2. You don’t need to follow the trading rules to make investments.
  3. You will have to follow the simple business analytical strategy to earn huge profit.
  4. You don’t need to have a lot of money to invest. You can start it with something and invest it over a long period.

Disadvantages:

  1. You might miss the massive gain over a short term trading.
  2. As you cannot spend time to analyze the market values always, you can miss some harsh realities.
  3. You can’t make a profit if the coin value rises quickly.
  4. You have to hold it for a few years and then sell it for a significant price.

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:

  1. Way of investment: You can invest in via bitcoin. Otherwise, you can also go for USD, EUR and GBP.

A good website: Now you need to know a right and proper website which provides spot trading, margin trading, arbitrage trading and futures trading.

  1. Risk management
  2. Paper trading: In this way, investors can check their trading skills. There is one such platform which provides free paper trading. This platform is 3Commas. You need to have precise information before pitting your hard-earned money into this field.

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.

Coinbase

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.

Bitcoin

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:

Bittrex

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.

Bitifinex

It is active since 2012. The headquarters is in Hong Kong. They offer USD, EUR and GBP as well.

BitMEX

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.

Blockgeeds

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.

  • Rules

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)

  • Taxes

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.

CONCLUSION

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:

  • How to start your first crypto account via different currencies.
  • How to store the money in your Wallet.
  • How to deal with the market to gain a considerable profit.
  • Business analytics managements and risk managing factors as well.

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!

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Bitcoin
Cryptocurrency
Trading

3Commas Review: Best Crypto Trading Bot?

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.

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Bitcoin
Cryptocurrency

Bybit Review- Best Cryptocurrency Exchange?

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.

What is crypto-currency?

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.

Why is it indispensable to keep eyes on the exchange?

  • If you are using any crypto-currency, whether it is Bitcoin (BTC) or Ethereum (ETH) for trading purposes, it becomes so important to use an exchange platform as well. Otherwise, you might have to face significant losses.
  • Any organization does not decide the value of crypto-currency; it is based on some sophisticated algorithm. That cannot be figured out, so the value of Bitcoin in the morning would not be the same in the evening.
  • The main point is that the variations in the value of a crypto-currency occur so fast; that it is unpredictable. So those who trade with Bitcoin or others are suggested to use a promising and reliable exchange.
  • Exchange is an online platform or an app through which you can keep eyes on the variations. You can find graphs and data both. So Bybit is one of the most promising exchange platforms that is used by many cryptocurrency traders.

Bybit has been grabbing commendable reviews for some years. Let’s get to know what these are.

Benefits of Bybit

  • In today’s scenario, Bybit is one of the most preferred cryptocurrency derivative exchange platforms. The interesting part is that it is available in various languages, so more and more people feel ease while using it.
  • It is like a trading engine that not only shows the variation graph but also allows the users to trade. And you know what? The bullet point is that the trading cost is lower than other exchanges.
  • Bybit provides an app to its users, so it is well-supported by a mobile set and a tablet. Bybit also offers bonus cash to the users occasionally.
  • The best part is that it is fast. That means it you want to make a payment, or you wish to withdraw the money into your account; it does not take more than one minute.

Final words

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.

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Bitcoin
Cryptocurrency

How To Buy Bitcoins Instantly?

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.

  • Cex.io

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.

  • Coinmama

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.

  • Binance

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.

  • Bitbit

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.

  • Wirex

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!

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