For myself, and most crypto traders, the goal is to increase the amount of Bitcoin we own. I don’t care about the US dollar, at least not directly. When I look at the price of a cryptocurrency, I look at it in terms of BTC. For example, right now the price of 1 ETH (Ethereum) is 0.049 BTC. My trades are based on that price, not the fact that 1 ETH is $304.
TIP: The tips and tricks below shouldn’t be mistaken for professional investment advice; instead this is basic friendly advice to mull over. If you want professional investment advice, consult a fiduciary. For a shorter list that zeros in on some key points, see: 5 Tips for New Crypto Traders. See also, how to trade and invest in cryptocurrency and our crypto investing / trading starter kit.
Disclaimer: I am not a professional (or even a veteran) trader. I am an intermediate trader with a passion for cryptocurrency. I am disclosing my own ventures in crypto because cryptocurrency trading does make up a chunk of my online income and I want to be 100% transparent with you when it comes to making money online. Investing in cryptocurrencies carries a risk – you may lose some or all of your investment. Always do your own research and draw your own conclusions. Again – this article is aimed purely at advising; draw your own conclusions on whether cryptocurrency trading is right for you.
The trading strategy used is bollinger bands. (You can create bollinger bands on graphs in poloniex). The strategy is to buy when price touches lower bollinger band and sell when the price is above your bought price and also hits high bollinger band. If the price goes down and again touches lower bollinger band then invest another 25% of total investment assigned for a currency.
So you can identify cryptocurrencies that will survive into the future yourself. The market is damn volatile and when you allow suggestions, everybody is marketing their own cryptocurrency everywhere, so you end up getting what many people use but not what might truly survive in the long term. So make your own decision by knowing what makes a cryptocurrency survive for long.
All of the different techniques used to track the price of Bitcoin and other currencies have one common factor- they require investors to remain up to date on the latest market movements. In addition to keeping track of the cryptocurrency market, it’s also necessary to buy and sell on an exchange, select a Bitcoin wallet, and make analytical interpretations of the statistical data gathered during market observation.
The technology behind Crypto Assets is called the Blockchain, which validates transactions and balances. It is leading a new wave of Internet application development, which I believe will ultimately form the backbone of a large proportion of the Internet over the coming years. I suggest you spend some time reading up on and understanding the blockchain. These applications tend to be decentralised, which means there is no single point of attack or ownership.
This is probably the most important factor to look at when deciding whether a cryptocurrency will survive into the future or not. Some cryptocurrencies, apart from acting as coins and trading assets, also provide platforms, serve as the fastest means to move money across the globe, try to solve a certain problem in society or in the cryptocurrency ecosystem, and do a lot more.
ICOs, as you may have guessed, are much like IPOs. This is where coins are offered for the first time to the public. ICOs are not offered through exchanges, but rather you buy them directly from the creators of the project. Usually (it’s different for each project) you will send them Bitcoin or Ethereum that they will use to fund their project; in turn you receive a certain amount of their new coin.
Taking the first option listed above, which is to buy the underlying, you become the direct holder of the digital asset. Upon purchase, the cryptocurrency is sent to your bitcoin address or account (wallet) with the exchange. From there, you can transfer the crypotocurrency to any bitcoin address or wallet address using your private key that verifies you control ownership of the asset.
When you buy/sell via an exchange, try to use limit orders (try not to use market orders). On some exchanges, like GDAX, limit orders have lower fees than market orders. On GDAX, limit orders are free as long as they don’t fill immediately. Meanwhile, market orders result in a .3% fee, which is better than the 1.4% that Coinbase charges but not as good as 0%, especially if you are day trading. If your exchange rewards you for using certain order types, aim to use them.
Investing in any currency is an activity that, roughly speaking, can be done in two ways: the speculative, by means of short sales (buying and selling currencies several times in one day depending on the possibilities of the price going up or down), Or by developing a medium- or long-term investment scheme (i.e buying currencies and saving them for a longer period to sell them when appropriate).
What are Confirmations? How to Time the Bottom of a Market Super Simple Bitcoin Explanation What Does “HODL” Mean? The Top Cryptocurrencies That Aren’t Bitcoin The Ethereum Classic Investment Trust (ETCG) Explained How to Short Bitcoin and Other Cryptocurrencies What is “Alt Season?” How to Buy Bitcoin and Other Cryptocurrencies (Simple) What are Sats?
In case, you do not wish to hold the token, you’ll be charged a small fee of 0.1%. Moreover,for depositing cryptos, you’ll not be charged anything but at the time of withdrawing, you’ll need to pay 1% fee with the minimum withdrawal of USD 15. Overall, Bibox offers an easy to use platform for you with a large array of cryptocurrency assets for trading.
I bought Elastic $XEL at the obscure Heat exchange. It was rather difficult discovering how to buy it because I was in this case ahead of the herd where the path was not well defined. In the end I bought it at a high price (average 31,367 Satoshis, should have got them at 25,000 Sats) as I got scammed over at Heat by a predator (Arsonic @Ars0nic on Twitter) playing the order book. We’ll see how that plays out. I think the excessive price I paid will not matter too much.
Investors can get insights into the fund with the PentaView analysis platform. It’s basically an aggregation of the data regarding the investments and assets within the fund. The cryptocurrency space is constantly evolving and PentaView is a tool to keep users up-to-date. PentaView also gives investors a way to make suggestions to the PentaCore team.
Cashaa is more than it's CAS Token cryptocoin. It's a centralized, completely free cryptocurrency exchange where users can exchange their online coinage into any other cryptocoin quickly and easily. Take a look at their site and you will see that the CAS Token is backed by a dynamic exchange economy that means it has massive long-term potential as an investment - because it's a cryptocoin that works with competing currencies instead of trying to beat them.
Disctric0x is a network of decentralized communities and marketplaces, and where each ‘district’ is a decentralized entity on the district0x Network. In other words, District0x allows anyone to create a network of communities (or organizations) with a focus on governance, cooperation and decision making being decentralized. District0x is an open-source software project, and as such, it does not seek to gain profit, but rather focuses all of its attention towards building software that enables development and governance of marketplaces that are powered by the community.
How can you test the strategy that you have built to see if it is right for you and your purposes? The best way to do so is testing your strategy against the market. Kryll allows you to safely execute your strategy before using it in the real world. Using the test environment in the platform, you’ll be able to test over the previous six months of recorded data.
CoinMama is a veteran broker platform that anyone can visit to buy bitcoin or Ether using your credit card or cash via MoneyGram. CoinMama is great for those who want to make instant straightforward purchases of digital currency using their local currency. Although the CoinMama service is available worldwide, users should be aware that some countries may not be able to use all the functions of the site. CoinMama is available in English, German, French, Italian and Russian. Check out the CoinMama FAQ
Need a one-stop shop for all your crypto trading requirements? You can place your bet on Bitfinex (BFX). Bitfinex is a popular cryptocurrency exchange platform that allows you to trade conveniently and effectively. Having its headquarters in Hong Kong, Bitfinex has expanded to a great level since its inception in the year 2012. As a reliable source of cryptocurrency, Bitfinex has its daily trading volumes with a net worth of around USD 1 billion.
Ripple continues to remain pegged down by this supply zone and the EMAs as it tries to break out from that descending trendline. The lower trendline has been adjusted and we can see that it has tested near it multiple times and is now attempting to break past resistance and make its way back to the FIB level or the supply zone above. MACD seems to be signaling ...
Update 1st October 2018: The cryptocurrency market has been volatile as ever over the last 6 months. Unless you are a skilled trader, it is harder to make money in a bear market than in a bull market – and we have been in a bear market for some time now. Personally, I have stopped trading and I am now focussing on growing my portfolio passively using a cryptocurrency trading bot – you can find out more about this here. If you are new to crypto, read on!
These big coin strategies can also be used for trading bitcoin cash as well as other cryptocurrencies, in fact, you can use this as a trade guide for any type of trading instrument. The blockchain technology is a big step forward for how to access information and many companies are starting to develop applications to use it in their favor. Remember that when trading digital currency it may seem like it is not a real currency but it actually is real, this is not some Ponzi scheme. Before you buy bitcoins have a solid plan in place and don’t underestimate the cryptocurrency markets, you must do your technical analysis just as if you were going to day trade any other instruments. You can also read our best Gann Fan trading strategy.
An additional common mistake is searching for crashed coins, in accordance to their value against the Bitcoin, hoping they will return to their glory prices. So newsflash – there are coins which are light years away from their peak levels. Take Aurora for example; in March 2014 an all-time high price of 0.14 Bitcoin for one Aurora was recorded. As of the time of writing, Aurora trades at a 99.9% discount – 0.00014 Bitcoins. Could the (damned) Aurora make a move upwards 1000x? You’ll never know. You surely can’t assume a coin being lower than its peak price is an opportunity rather than a falling knife. There are also coins which disappeared and slowly got out of continuous trading – a scenario defiantly worth considering (especially with the low-cap and volume altcoins).
To stress some points made above, realize that a diverse portfolio and investment strategy will eat into gains as often as it staves off losses. The only way to make big profits most of the time is to make risky moves. If you go all in on a single coin at a given price and it goes up, that is a payday. If it goes down, your investable funds are locked into that crypto (unless you want to sell at a loss). Diverse strategies protect against this, but they will also eat into your potential gains (as it is rare for everything to go up or down at once). Know what you are looking for and know how to weight your portfolio to reflect that.
Bitcoin seemed to be heading for its demise last night before it broke back above resistance and retested the channel bottom trendline. We do have a trendline (red), which has been supporting this recent rise back up after the big drop and as long as we stay above it, bulls can remain hopeful. This pop has caused MACD to crossover bullish and turned the histo ...