UPDATE: I do not recommend paying to enter a Cryptocurrency mastermind group – I’ve tried a few and found the ROI to be disappointing. I am now focussing on growing my portfolio passively utilising a cryptocurrency trading bot, the renowned Notorious Bot. Having a bot that trades for me, without emotion, using an advanced algorithm, allows me to grow my portfolio in the background without it cutting into my time or stressing me out. You can familiarise yourself with the basics of cryptocurrency trading bots here.
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
Another thing I need to make clear is the type of trading I do - day trading. My base currency is Bitcoin, which I use to buy Altcoins like Ethereum, ZCash, Golem, etc. When I make a trade to buy an Altcoin with BTC, I could end up selling the Altcoin back for BTC within a matter of minutes or hours. All of my profits are converted back into BTC at the end of each trading day.
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional currency like US dollars or Euro. For those that want to trade professionally and have access to fancy trading tools, you will likely need to use an exchange that requires you to verify your ID and open an account. If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.
Trading on low-volume days in the market could incur substantial slippage. People who make trades — especially large trades — on low-volume days often will not find many partners on the other side of the order book willing to make that trade. The result is that they could end up paying much more for the trade than expected, incurring slippage in the process.
Before that, first understand the overall skeleton of Crypto Trading and have a clear understanding of Cryptocurrency and Bitcoin. Hopefully that will help you to mark out the good’s & bad’s in Crypto market. Being one of the fast renowned blockchain expertise company in India. Our Blockchain experts frequently deliver their knowledge on Blockchain & Cryptocurrency and if you’re one with aim to kick start it then here are best explanatory blogs for you!
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.
Categorize your investments and look at the long picture. In the process of your research, you’ll eventually realize you’re coming across a few different categories of coins. For some of them, you believe they have good teams, great vision, amazing publicity and a track record for successful execution. Great! Put these into medium or long-term holds and let them marinate into a delicious tenderloin. When the price dips, don’t even consider panic selling because anything in your medium or long-term portfolio should remain untouched for a set amount of time. BNB is a good example of a coin Miles considers a long hold. Recently, it dipped 20% for a while, and within our community, we witnessed some sell-offs to preserve investments. A week later, it jumped up almost 3x for a period of time.