Once you get used to a coin, the market you will be able to see the price trends of each and every single coin that you have paid attention to and this is how you take advantage of the newbies who invest without researching. It is also very crucial to be informed of new coins/ which new markets are about to get the coins.
⚠️Note: This Post has been published only for informational purpose, Sentences, Images of this post may be subjected to Copyright.
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| Bitcoin |
"Success is not final; failure is not fatal: It is the courage to continue that counts"-Winston Churchill
What is Bitcoin Trading?
Bitcoin Trading: A cryptocurrency exchange, or a digital currency exchange, is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Wikipedia
There are many different markets to get bitcoin from/trade bitcoin/other altcoins on.
For trading bitcoin, here are some of many BTC trading sites
Well this is a pretty well known and simple method however I do not believe all of you many know this method.
If you look at the prices they all are different between the exchanges... (Coinmarketcap.com)
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| Conmarketcap.com |
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| coinmarketcap.com |
There are the BTC/USD one’s only
There are more exchanges.
Now do you see the price difference between the exchanges?
Cex.io has a price of $605.75
The one under the exchange is $571
Which is around a $35 difference if you round it up.
However it is not that easy as different people who purchase
this guide will have different locations which they reside.
You will need to find 2 exchanges which have a difference in
price and you will need to verify payment methods/i.d/bank
accs if needed. The exchanges aren’t here to steal your $ or
your identity. They are here to follow laws and they always
need to verify that you are the one’s which are using the
accounts that you attach.
So essentially for this method your goal will be to find 2
exchanges which have a difference in price and then you will
take advantage of it. Now note that you can do this for some
altcoins as well but it changes around from time to time and
different exchanges will have different prices.
You will pretty much need to be a certain age to use this
method however do not worry. For the main trading method
any age will work.
Now depending on the altcoin there will always be a different
market for it.
The main markets I/main people use - poloniex.com / bittrex.com
Now I will go on Poloniex and teach you how to trade and then
we will get to choosing which altcoins are best.
I will be using rising coin Monero.
Why is Monero rising?
A dark market with over 100k active users is adding the coin to
their market soon. Everyone is buying coins and the price has
already went up 2x the amount in the coming days. Remember
when I had said that it is good to stay informed? The people
who were informed have already made 2x the profit and once
the market opens the price should rise up more as not
everyone knows that the coin is being added to the darknet
marketplace.
Above sites are some sites to get informed.
Now let's teach you, How to trade
The 1st one is to Buy and the 3rd one is to Sell
Now if you look at sell orders you will see that the sell order is
always going to be higher than the buy order. Now If you look
at the buy orders they’re always going to be lower than the sell
orders. The mistake that most people make are that they buy
through the sell orders and they end up paying way more. It’s
better to just setup a buy order so you can save $ but also at
the same time you can get the most coins for your buck. Now
you do not need to set the buy price to exactly the 1st one. You
can make it the 3rd lowest or 4th lowest/etc. You can even put a
buy price at 1 satoshis just in case a coin ever goes all the way
down, this won’t happen for the main coins but some coins
which are very low priced it can happen.
So lets say that a coin is 0.00750018 sats and gets dumped to 1 sats would be 0.00000001 sats.
Now if you scroll all the way to the full bottom you will see buy
and sell orders that have gone through and will also tell you the
price that they bought it at.
I will also link you a YouTube video showing you how to trade
just in case you do not understand this.
(Here is a video showing you, How to trade)
Now that you have learned the basics trading. Now, I will show you
how to read basic graphs.
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| Monero Exchange |
This is for Monero.
I have put a square around the important parts.
Now do you notice how the line goes a little up then goes down
on most of them/do you noticed how it goes up and then back
down. That means the price went up for a short while then it
went back down
Now if you look closely this has been happening for a while
before the recent news which made the value of the coin
skyrocket in value.
This means the coin was stable for a very long time. Now if you
are looking for a long term investment then coins like these
(You have to look at the graph) which have been out there for
a while are great to purchase! There are also short term coins
which will net you a very good amount of profit.
For long term I suggest targeting coins which have been out for
a while and which are at least in the top 100 on the charts.
Preferably around the top 50. There are a lot of coins which
have a good backing to them and actually have a community. A
coin is nothing without a community and a purpose. If a coin
has no purpose then most likely it’s just going to be a pump and
dump coin. If a coin has a purpose then it will most likely
skyrocket. Just take eth for example.
Now if we take the coin waves in for example you can see the
graph on the right side.
The graph’s line goes up and down repeatedly over and over
again. The coin gets pumped and then it gets dumped and then
it gets pumped again. People who pump coins have a lot of $
and control the market for most of the altcoins. Of course it is
harder to pump the coins of the top one’s with the millions and Millions/Billions dollar market caps. However the one’s which
don’t have too much volume like waves for example can easily
be pumped. Waves is a coin I would possibly get if the price
goes down but I would have to do more research on the coin as
I do not know much about it. Each and every single altcoin
should have a Bitcointalk thread so you should be able to view
the thread link through Coinmarketcap.
Click on the coin on coinmarketcap and then click on
“Announcement”
Now it will take you the bitcointalk thread
Bitcointalk is a great place to get brand new news and
information on new and upcoming alts/etc.. However there is a
lot of schemes that go on that site ( people wise) do not believe
everything you here and get suckered into buying coins. Read
up on the coins and see which coins are worth investing into.
Almost 100% of the people who actually make profit off of BTC make $ through reading the news (Bitcoin news) and staying
up to date on everything. Now remember there will always be winners and losers. You can’t win all the time, it is just
impossible. However if you follow these tips then you will be
way on your way to making a good amount of $ in the long run.
I highly suggest in investing in some ico’s on coins which have a
lot of BTC raised.
Once the coin comes out the chances are that the price will
skyrocket as the people who purchase in the ico want to make
profit so they will make sure that the price at least stays at the
price they bought it for. A lot of coins get dumped at ico to a
price lower than what people purchase in the ico. Do not worry,
the coin will go up again. That is also a good time to purchase a
coin while the coin is low. The best time to buy coins is when
they are going down. Not up but down. When coins are going
up there is a super high chance of a dump and the price
collapsing and never getting back to that price point ever again.
Now I am going to give you a list of coins which are good to
invest in.
Bitcoin (low risk)
Ethereum (low risk)
Litecoin (low risk)
Ripple (stable coin) (low risk) (price will eventually go up)
Dogecoin (medium risk)
Ethereum classic (medium risk)
Monero (medium risk) (sounds like it has a good future)
Dash (high risk)
Lisk (medium/high risk)
Nxt (medium/high risk)
(Peercoin and Namecoin) (both go up if BTC goes up) (medium
risk)
Most of these have been pretty stable coins and they end
up going up a lot and then they end up going back down. There
are other coins which you can look at, everyone will have a
different way of thinking. Who knows, you may even end up
buying the next big coin.
Now I will go on to the next and last method. This is primarily a
trading guide but I am giving this method to you guys free of
charge. So if you already know this method then just ignore it.
Many of you guys already know that you can buy BTC for 0-1%
rate and resell for 15%, that is common practice. However not
many of you guys know that you can use local bitcoins and buy
gift cards back and forth to make decent profit.
The top is buy orders and the bottom is sell orders.
Buy orders will always be higher than the sell orders as the
buyers want more and the people who want your BTC will sell
for lower.
So what you will do is setup a buy order for cheap for an
amazon gift card and when it fills and you get a code then you will resell the code for more than what you brought it for and
equals easy profit $. You can also buy items on amazon and
sell them on ebay etc. For more than what you brought them
for as people sell Gift Cards for around 20-40% off so it’s an easy
20-40 bucks per $100 item. You can also do this for gift cards
form other types of websites.
❤️ Thanks for being here.
Bitcoin Trading FAQ(s)
Q. How can I learn Bitcoin trading?
1. Learn what moves bitcoin's price.
2. Pick a bitcoin trading style and strategy.
3. Choose how you want to get exposure to bitcoin.
4. Decide whether to go long or short.
5. Set your stops and limits.
6. Open and monitor your trade.
7. Close your position to take a profit or cut a loss.
Q. Can I get profit from bitcoin trading?
Yes, You can get profit from bitcoin trading, and your ability to achieve a profit will depend on the depth of your market analysis, your market knowledge and the underlying market conditions. You will have to learn much deeper and get know ledged about Bitcoin.
Q. Is bitcoin trading safe?
Well, Investing in Cryptocurrencies is totally legal in India and its absolutely safe.
Q. When is the best time to trade bitcoin?
8 AM to 4PM (Google Result), Sunday Evening.
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Happy Day:)