What is Cryptocurrency Trading, How Can You Learn It and Earn on It?

What is cryptotrading, how can you learn and earn it?

The rapid growth of cryptocurrency exchange rate caused an increased interest in this industry among a wide range of people. It should be noted that many people still believe that Bitcoin and other coins are pyramids or bubbles, which sooner or later will collapse / burst, leaving their contributors with nothing. Such thoughts often arise in the minds of people who do not understand the topic at all. This is absolutely normal, when the general public does not accept the new technology and treats it skeptically. It was the same with all the fundamental things that eventually changed the world, like radio, television and mobile phones.

But even those people who do not believe in the future of cryptocurrency do not deny that you can make money on the fluctuation of the coin rates. That’s how we are approaching our today’s topic – cryptocurrency trading.

Contents:
(please, click the topic to scroll down to it)

  1. What is cryptocurrency trading?
  2. How to learn cryptocurrency trading?
  3. What are the main strategies of cryptocurrency trading?
  4. How not to lose the whole trading deposit?
  5. Conclusion

1. What is cryptocurrency trading?

This article will be useful only for beginners, who have a basic understanding of the process. For example, if your knowledge of trading consists of one sentence: buy cheaper, sell more, then you will learn a lot of new stuff here, find answers to frequently asked questions and plan your future strategy.

So, cryptocurrency trading is the purchase of an asset at a lower price, selling it at a higher cost at the right time and receiving profits. The volatility feeds the trader. The trader does not care what happens to the market in a global sense, his/her main earnings is the difference he/she gets from playing on the fluctuation of the exchange rate. It means that the trader can earn in the falling market as well. Of course, he/she tracks market movements (bears, bulls, trading range, etc.) and forms his/her trading strategy on the basis of those. Obviously, it is easier to make money in a growing market, but what distinguishes an investor from a trader is that the former earns only if the rate increases, while the latter is more autonomous.

2. How to learn cryptocurrency trading?

Cryptocurrency trading for beginners is full of unpleasant experiences and 99% probability of losing the whole trade deposit. Thus, the formula for successful trading sounds like this: “Stop being newbies or stop trading at all.” Of course, people are not born with the gene of a trader in their DNA, this certainly needs to be learned. However, it is very important to understand that you must not trade a substantial sum which belongs to you or someone else at the initial stage (up to one year). There are a lot of nuances incryptocurrency trading that need to be taken into account. The industry is still too young, so the market is very volatile (subject to sharp jumps in the exchange rate) and sometimes not quite rational.

A very important aspect, which you should pay attention to first and foremost is the study of professional terminology. There is a so-called “Dictionary of the cryptocurrency trading”. Not knowing it, it will be rather difficult to plunge into trading on stock exchanges.

The ideal option is to find a mentor who inspires confidence in you and learn from him/her personally, since individual learning is more effective. Also, you can take various group online courses. In this case, try to attend the webinars, rather than watch them in the recording. In this way you will have an opportunity to ask questions in real time and be on the same level as the group.

Of course, you can just wander the Internet in search of information, but you should understand that not all content is useful and, most importantly, relevant. For example, something that worked in 2016-2017 will not bring anything except losses in 2018.

3. What are the main strategies of cryptocurrency trading?

By and large, each experienced trader has his/her own personal trading strategy, but if we generalize and highlight the most widely usedones, we will get the following list:

  • Scalping. Its name speaks for itself. Using this strategy the trader removes the surplus profit just like a scalp. Scalping involves high-intensity trade, the opening and closing of dozens and even hundreds of orders per day. For example, you buy BCT for $6103 and sell it for $6109 in 10 minutes. Earnings on one transaction are minimal, the profit is achieved due to a large number of transactions. The strategy is suitable for beginners, since it does not imply a deep technical analysis.
  • Speculating for a fall or shorting. It involves buying assets on a downtrend and timely selling them with minimal growth. It is necessary to spend a lot of time peering into the trading terminal not to miss the price jumps.
  • Daily. As part of this strategy, the coin is bought in the first half of the day at an average lower cost. After that, the trader observes the situation until the evening and sells the asset at an average higher price. For example, in the morning you buy coins which cost $500 per piece and sell them for $510 in the evening.
  • Momentum. Trading with this strategy implies a complete immersion in the process. Trader actively monitors the volume of trading and news background. The success of working with this strategy depends on the ability to look through and filter tons of information. For example, you know that TRON will be listed on a new exchange tomorrow. So you need to buy this coin today and wait for tomorrow’s rally, at the first sign of a downward tendency you need to sell the asset immediately.

4. How not to lose the whole trading deposit?

Frankly speaking, there are many reasons why even experienced traders can lose their savings. We will not consider them all, as no one is protected from the force majeure situation. The main rule of money management is diversification, that is, keeping assets in different places. Here are some basic mistakes, avoiding which you essentially minimize your losses. Let’s name the things that you should NOT do:

  • follow the forums, chat rooms in Telegram and blindly copy their actions;
  • trade using insider information from cheap or free signal groups;
  • trust all insiders without conducting your own technical analysis;
  • keep only one asset;
  • buy because of hype and sell because of panic;
  • trade emotionally;
  • trade a substantial amount of money (credit card, debt, selling real estate to invest, etc.).

5. Conclusion

Trading on the cryptocurrency market is a fairly profitable sphere, but it will be very difficult to succeed in this field without proper education and knowledge. You should adhere to the rules of “smart” cryptocurrency trading and always stay calm and focused to trade coins successfully. You can not treat trading as a gamble, otherwise you can lose all your money.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Binance Will Add Stablecoin USDC To Its Listing

Recently, one of the major crypto exchanges, Binance, has published a notice which says, Binance will open two new pairs for trading on November 17. Interestingly, those two pairs include a new-comer – USDC – stablecoin backed by Circle.

The trading pairs are USDC/BNB and USDC/BTC; the trading starts at 2018/11/17 03:00 AM (UTC). However, users are already able to deposit stablecoin in advance.

Moreover, Binance wrote there would be a “top-ranking auditing firm” to preserve the transparency of the stablecoin. Every month, the firm is bound to provide data of “the corresponding USDC and USD balances held/issued.

We want to remind you, such crypto exchanges as OKEx, Huobi, BitPay, Coinbase have already listed USDC stablecoin on their listings.

Dollar-Pegged Stablecoins Exceeded the Price Point of $1

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, November 15: Cryptocurrencies Collapsed in Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 10.76% over the past 24 hours. The price at the time of writing is $5643 per coin.

Almost all cryptocurrencies absolutely crashed in price:

Bitcoin Cash lost 13.28% over the past 24 hours and costs $447 per coin;

Ripple dropped by 8.94% and is $0.46 in price;

EOS fell by  11.7%, and its price is $4.66;

Litecoin lost 13.45%, and its cost is $42;

Cardano decreased by 14.13%, and its value is $0.061;

Stellar lost 8.24% and is worth $0.23;

IOTA became cheaper by 16.64%, and its cost is $0.48;

Dash dropped by 12.34%, and its price is $142;

Monero decreased by 13.95% and costs $90.

Over the past day, Ethereum lost 12.76%. The cost of the coin is $179.

The total market capitalization dropped significantly to $185 billion. Bitcoin accounts for 53% of the total. In monetary terms, the amount dropped to $98 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bank of America Has Officially Patented A System for Saving Crypto Actives for Significant Corporations

One of the major USA banks has been approved the patent for a system of saving crypto assets. The application for the patent describes a method for safekeeping cryptocurrency assets of users of the system. It also stated that the bank will cooperate only with major corporations.

The popularity of using cryptocurrency has turned into a trend that many companies are aiming at. The biggest part of major corporations serves their clients with the help of cryptocurrency. Because of this, there is a need to convert the cryptocurrency into any currency deposit, which has to be placed in a storage.

It is possible to improve the security and safety of deposit funds with the help of single corporate accounts that maintain the cryptocurrency storage.

At the same time, the clients will receive credit funds, the amount of which is equal to the crypto deposit. This concept was introduced by Bank of America.

The patent spelled out a storage system specially designed for the banking system, which processes and stores the secret key. The system is demanding to high throughput of a channel and the amount of calculation capacities.

When required to complete a transaction, the system will provide customers with access to Member’s personal account.

It should be reminded, that previously Bank of America approved the patent for close system private keys, that supports remote management.  

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Crypto Master Minds That Made It Into Forbes’s 30 Under 30

One of the most famous editions in the world, Forbes, came out with its annual rating of the most influential people under the age of 30 in different spheres of activity, including healthcare, music, art, retails and many others. This time the section of “finance” was replenished with a couple of blockchain and crypto personalities, namely:

1. JB Rubinovitz (26) is a crypto entrepreneur whose goal is to incorporate crypto mining as a way to provide bails for arrested people.

2. Olaoluwa Osuntokun (25) is one of the founders and a Chief Technical Officer of the company Lightning Labs. He raised $2.5 million to develop Bitcoin as a fully usable means of payment.

3. Hunter Horsley (28) is a CEO of the company Bitwise Asset Management. His firm specializes in creating crypto indexes.

4. Nader Al-Naji (26) and his company Intangible Labs are currently working on a concept of a cryptocurrency that could easily replace the usual banks.

We remind you:

Forbes Launches Its Own Version of the CoinMarketCap

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, November 14: Cryptocurrencies Continue to Decline in Price

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 0.16% over the past 24 hours. The price at the time of writing is $6356 per coin.

Almost all cryptocurrencies are in the red zone:

Bitcoin Cash lost 0.66% over the past 24 hours and costs $502 per coin;

Ripple fell by 2.29% and is $0.51 in price;

EOS minus 2.40%, and its rate is $5.30;

Litecoin decreased by 0.95%, and its price is $49;

Cardano dropped by 3.02%, and its cost is $0.072;

Stellar lost 4.23% and costs $0.25;

IOTA added 0.37%, and its value is $0.48;

Dash plus 0.15%, and its price is $164;

Monero lost 0.99% and costs $106.

Ethereum lost 1.03% over the past day. The cost of the coin is $206.

The total market capitalization is $209 billion. Bitcoin accounts for 52.8% of the total. In monetary terms, this is $110 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Real Estate Market Switches to Blockchain

The power of countries depends on the economy, which real estate market is a significant segment of. More than 50% of global finance belongs to it. An impressive share, isn’t it? This market segment is most adapted to reforms and crises.

However, this does not mean that it cannot be slightly improved by innovations, such as the blockchain. Technological upgrade will allow the real estate market, as well as the economy in particular, to move to a new stage of development.

While the real estate market is “collecting its belongings” and is preparing for a full-fledged move to the blockchain, a Japanese company has launched the sale of real estate for cryptocurrency. A couple of Bitcoins can buy you a paradise on an island somewhere in the Caribbean. The world of real estate is gradually becoming digital.

Definitely, the “relocation” of the housing market onto the blockchain will have a positive impact on its development. This promising combo will improve and facilitate the purchase of real estate as follows. It will allow to:

  • exclude intermediaries who charge a commission in the course of transactions;
  • reduce the time for the preparation of transactions and references;
  • reduce the risk of fraud;
  • simplify the process of checking property before selling:
  • customers can buy property at any time of the day;
  • opportunity to track the entire history of the transaction.

All this makes the purchase of real estate easier and safer, but not publicly available. The latter and the above mentioned benefits can be offered by Elements Estates.

The project provides an opportunity to buy housing not only to reserved players. Owing to blockchain technology the national boundaries are disappearing as assets can freely move from one country to another.

It is time to improve the global economy by reinforcing the real estate market with blockchain and cryptocurrency.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/