How to start Crypto trading?
Whether a currency is increasing or declining in value, there is always a way for you to make money in Crypto
Consider a national currency as a security, like stocks, commodities or precious metals. The recipe for success is to buy it at the cheapest price and then sell at a higher price. Or the other way round – sell at a higher price and then buy cheaper. Whether a currency is increasing or declining in value, there is always a way for you to make money in Crypto! Knowing the right time to buy or sell will do the trick. This is where market analytics, indicators, signals and automated trading systems come in handy.
Let's consider an example:
Cryptocurrencies are traded in pairs. For example – Bitcoin against USDT (US Dollar Stablecoin) (BTC/USDT) or Ethereum against BUSD (ETH/BUSD). A Crypto transaction involves buying one currency and selling the other currency at the same time.The exchange rate reflects the value of one currency against the another currency, For example, the quote BTC/USDT 1/29,931 shows, how many USDT you need to pay to buy or sell 1 Bitcoin. Currency exchange rates are always fluctuating depending on the time of the day, the country's central bank rate, government policy, market sentiment and many other reasons.
Let's assume the market forecast Bitcoin is going to appreciate against US Dollar (bullish trend for BTC/USD). You decide to buy Bitcoin with USD (buy order on ETH/USD). After some time you decide to sell the USDT at a higher price (close the open BTC/USD position). Your profit is the difference between the opening and the closing prices.
How much money do you need to start trading Crypto?
In order to attract traders, many forex brokers, including Bitpay Crypto, offer to start trading with a little starting deposit. You can start trading with us with as low as $200, which are credited to you as a welcome bonus to a newly opened active STP account after passing the verification.
Learn the basics of currency trading
Remember that Crypto trading involves high risk. There are limitless opportunities to make profit and your potential gain is very high. However,the risk of loss is high as well. If you make an independent and informed choice to become a Crypto trader, you should always follow the basic risk management rules. It's not an easy task but it's very important whether you trade with a few hundred dollars or operate millions.
Taking a good Crypto education course may be the best investment you'd ever make in your trading career. Take your time to study the basics of trading and practice it in a Login before you start trading with real money. Always be sure to follow the rule - never trade with money that you cannot afford to lose.
How to get started in Crypto trading?
- Open a trading account;
- Login to your account;
- Make a deposit.
- Select a plan.
- Our automated system will begin trading for you immediately.