Trading crypto is a profitable way to earn money online. Tiny and sharp price fluctuations open many opportunities for investors to capitalize on the market movements. Traders earn daily and weekly. To buy assets, they pick the time of the day when rates are low, usually before the beginning of the workday, and sell coins when the market is the most active (during business hours) to make a profit. For example, the price for the ETH to BTC pair can vary depending on the time of the day you trade it.
How Does Cryptocurrency Trading Work?
To be consistent in trading, strategies are advisable:
- It may be a short-term trading method where positions are held for a couple of seconds.
- It can be intraday trading, implying closing positions in 24 hours.
- Swing trading takes a couple of weeks.
- Position trading is holding assets for many months.
Here are the main tips to keep in mind:
- Always adhere to your trading strategy
- Use automated crypto trading programs when needed
- Evaluate risks
- Do not take high leverage ratios
- Diversify your investment portfolio.
Where to Trade Cryptocurrency?
Make sure you use a reliable platform for trading crypto. Safety is the main thing when it comes to crypto investments. Choose credible exchanges with a good reputation. for example, the WhiteBIT platform. It offers all possible trading tools and has a convenient interface that is easy to navigate, even for a beginner user. To learn how to trade cryptocurrency, you may use demo tokens first. It will help you polish your trading strategy and find nuances you could miss. The WhiteBT blog will come in handy when you learn new strategies or try to handle new tools. This educational resource offers the latest crypto news and manuals as well as overviews of up-and-coming projects in the industry.