This marketplace is widely known within the cryptocurrency community and I would tell that this is true as you hardly can find a trader who heard nothing about it. Moreover, several famous and popular tabloids like Forbes, Coindesk, Reuters have mentioned Bitstamp in their articles. The company has established cooperation with Ripple, CACEIS and Swissquote.
Suppose you’re watching BTC’s chart and notice multiple Doji candlesticks, a classic indicator of indecision in the market. You have a feeling from a few other indicators that the price is about to rise, so you buy more Bitcoin — but alas, the indecision swings the other way, and you’ve lost money (but hopefully not that much, since you’re placing stop-loss orders!).
Hey, Will, I like this! Thanx for the info. I’m somewhat new to cryptos but not to investing — my Dad invested in the stock market since I was a kid and as an adult I was a registered investment advisor representative for a large US institution. One conclusion I’ve come to is that the skills and approach for crypto investing are no different than those for the stock market. I use the same strategies and analyses I use for stocks and etf’s and feel completely at home in the crypto market. Yes, I deal with more brokerage accounts, etc., but the principles are the same.
Hey Will. Thanks for the helpful guide! I’ve just gotten into crypto and found this info extremely useful. Just a question regarding how you keep your alt coins safe. As far as I can tell, you can’t keep many of these alt coins on a Trezor hard wallet, so do you just use something like My Ether Wallet instead? Cheers mate! Here’s to a cracking 2018!!
Now that you’re well-versed about the types of crypto exchange platforms available in the markets, you might think it’s time for you to get started with the investments. Not yet though! Like stock exchange and money trading, crypto trading is not a piece of cake. You need to learn the basics, gather all the necessary information, and get prepared before ultimately heading towards investments. Here’s a list of things to check before finalising an exchange:
In contrast to Forex or stock markets, crypto industry have much more risks for traders and investors including scam exchanges, hacker attacks, delisting of tokens and the others. Cryptocurrency market is volatile and coins have no underlying value meaning they may cost either $100,000 or $0 depending on demand and supply. Nobody can predict today the price of Bitcoin for several years.
If somehow, you’ve only heard of one cryptocurrency, it’s probably Bitcoin. It is the biggest cryptocurrency — it currently has a 40%i share in the total cryptocurrency market cap! It is the oldest cryptocurrency and it still dominates in the market. So, if Bitcoin continues to increase like it did in 2017, then investing in Bitcoin might be a good idea for 2018.
This is one of the most important cryptocurrency tips. By looking at the number of wallets vs the number of active wallets and the current trading volume, you can attempt to give a specific currency a current value. You can then make informed decisions based on today’s market price. The more accurate your predictions, the greater your chances for profit.
While these rules are by no means the only lessons you need, they’re definitely a great starting point. Sometimes, though, things are easier said than done, such as watching your portfolio value plummet and still having the iron willpower of resisting the sell button. One of the best solutions I’ve found to this was to join a community of like-minded cryptocurrency investors. Educated and smart crypto-traders, as well as the community members, will all be there to support your efforts and will be holding with you in the rough times.
Swing trading concerns individuals that hold a cryptocurrency over a set period of time, usually a few days or weeks. Swing traders will then attempt to determine the overall trend of their cryptocurrency holding and execute trades based on its overall upward or downward trend. The success of swing trading is largely dependent on an individual’s ability to time the market, which is an extremely difficult feat to achieve given just how quickly the cryptocurrency market can turn. Thus, swing trading is no doubt one of the more riskier trading strategies to pursue.
As you know, the focus of this guide is all about trading cryptocurrencies, but there are other ways to get a hand in the pot. Some people choose to buy a cryptocurrency and forget about it, much like you would do with some stock in say, Amazon. Other’s are actually investing through the stock market via the Bitcoin Investment Trust (GBTC). If you are a firm believer in the future of Bitcoin, both are perfectly fine ways to go about it.
Cex.io provides a wide range of services for using bitcoin and other cryptocurrencies. The platform lets users easily trade fiat money with cryptocurrencies and conversely cryptocurrencies for fiat money. For those looking to trade bitcoins professionally, the platform offers personalized and user-friendly trading dashboards and margin trading. Alternatively, CEX also offers a brokerage service which provides novice traders an extremely simple way to buy bitcoin at prices that are more or less in line with the market rate. The Cex.io website is secure and intuitive and cryptocurrencies can be stored in safe cold storage. Check out the Cex.io FAQ
At Crypto Investing Insider, our passion is trading and our goal is for every member to be successful. We search through hundreds of cryptocurrencies every month and only select a few to move on. We look for innovation, joint ventures, mass adoption and provide in depth technical analysis. We look for coins that have long term potential, but we waste no time selling on spikes, locking in profits, and adding more coins to our portfolio without having to add any more capital.
Litecoin, like all major altcoins, has depreciated substantially against BTC. This decline has been precipitous and nearly monotonic since May, with even the slightest corrective rally sold off immediately. However, we may find solace in the fact this pair appears to have found footing around 9070, which appears to be a very significant level of support. In the ...
The only apps that can do trades right now are the mobile apps for the various exchanges. And to view the market and coins available, the most popular site/app is Coin Market Cap. But there really isn't one that can handle everything for you. Which is why I'm currently building out an app called Matrix Portfolio, that will help you automatically pull in your trades from exchanges, so you don't have to manually enter them. As well as allow you to discover all the coins, and offer trading insights as well. Feel free to pre-register for the beta here: http://matrixportfolio.com
Never put all your eggs in one basket. Diversify. While the potential to earn more is increased with the amount of money you invest into a coin, the potential to lose more is also magnified. Another way to think about it is to look at the cryptocurrency market as a whole; if you believe that this is just the beginning, then more than likely the entire market cap of cryptocurrencies will increase. What are the chances that this market cap increase will be entirely driven by one coin vs. being driven by many coins? The best way to safely capture the overall growth of cryptocurrency is to diversify and reap the benefits of growth from multiple coins. Also, fun fact — Between January 2016 and January 2018, Corgicoin has increased by 60,000x, and Verge has increased by 13,000x. During the same period, Bitcoin has increased by 34x. While you would have gotten impressive gains from Bitcoin, expanding into other coins could have landed you potentially larger ones.