In the last several years, the cryptocurrency market has emerged rapidly. Some people have made tremendous money and some have lost a tremendous amount of money in this volatile crypto market.
So if you are also interested in making money in this volatile crypto market, then read this complete post.
The best way to make money is by trading cryptocurrencies on the crypto exchanges. But you have to learn before you start doing it.
Because trading is a very difficult job. And you may lose a serious amount of money if don’t know how it’s done.
Okay so let us discuss some basic things about the crypto trading.
Guide to Crypto Trading
Trading is done based on the analysis. Now there are two types of analysis are done in the stock market.
They are known as Technical Analysis and Fundamental Analysis.
Now just like stock traders, crypto traders also follow these strategies. You can do crypto trading either by carrying out the technical analysis or fundamental analysis of the cryptocurrencies.
What is Fundamental Analysis?
Here the intrinsic value of an asset/company is looked at. And it is done by evaluating the financial statements and economic variables.
It is similar to what stock traders do for carrying out the fundamental analysis of the stocks before trading it.
What is Technical Analysis?
Technical analysis actually looks at the market’s activity. It studies the market investment charts, its historic movements, using a different number of metrics.
It is also very similar to the technical analysis carried out in the stock trading.
Now technical analysis can be performed in different ways. Such as using charting patterns, statistical indicators and oscillators, and the hybrid of two.
And as I said the big difference between the technical analysis and fundamental analysis is that, technical analysis uses historical volume and price data.
Okay by now, you know how you can do crypto trading. But let us look at where you can do crypto trading.
Crypto Trading Exchanges
Crypto trading exchanges are the places, where you will do crypto trading. Which means, here, first of all, you will have to transfer your money into the exchange.
And once the money is transferred you can buy Bitcoin/Ethereum/Litecoin from that money. After buying any of these cryptos, you can start trading other cryptos in the exchange.
Some of the very famous crypto exchanges are Coinbase, Poloniex, Binance, Bittrex, CryptoSoft and Bitfinex.
You can register at these above crypto exchanges and once you are registered with them. You can start trading cryptocurrencies on these platforms.
You can login to cryptosoft and start trading on this wonderful cryptocurrency trading platform.
And these platforms are used by thousands of people. Therefore, it is completely to safe on these platforms.
In this post, we saw how you can start crypto trading in no time. We looked at some of the best cryptocurrency exchanges.
Where you can start trading cryptocurrency safely. And I also shared the ways to do crypto trading.
You can either opt for fundamental analysis or technical analysis for doing crypto trading. But as I told you earlier, crypto trading is a risky job.
And you will be responsible for it. Therefore, first of all, learn crypto trading and then only do it.