How to Trade Cryptocurrency like a Pro
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Bitcoin and other digital tokens that
operate on blockchain technology have been creating buzz all year, with prices
rising steadily over time. If you’re just
getting started in crypto trading, here’s a
simple guide to navigating cryptocurrency investing. (This is not financial
advice—validus does not take responsibility for your investment decisions.)
Section
Trading pairs are one of the biggest
hurdles for new crypto traders. Unlike equities, where shares of stock can be
purchased in different quantities, crypto trading pairs are always two coins
trading with each other. Oftentimes these two coins have very little in common
or relation to each other; e.g., NEO (NEO) and Vechain (VEN). This is an
important concept because it dictates not only how you trade but also when you
trade. For example, if you own 10 NEO and want to buy 1 VEN, then that
transaction would require you to sell 5 of your NEO in order to acquire 1 VEN.
In crypto trading terms that’s called
selling your altcoin against your primary coin (in our case: selling NEO
against buying VEN). Once you complete that transaction, then you will now hold
5 VEN along with 10 remaining NEO.
understand that there are two major types of exchanges. You can trade
cryptocurrency on both exchanges or both. However, one exchange is much better
than another for trading in terms of liquidity, ease-of-use, security, and
features. If you want to be serious about crypto trading, it is important to
know what type of exchange(s) you should be trading on.
For those who have never traded cryptocurrency
before, keep in mind that crypto trading requires extreme caution. This is
especially true when using leverage and stop losses. Keep an eye on order types
as well, as some may contain hidden fees or other unexpected charges. Make sure
you learn how your chosen broker handles customer deposits and
withdrawals, too. Since crypto is still
new, it’s important for traders to understand
these risks—and develop strategies for protecting themselves from them—before
In This Chapter we learn about crypto
trading and how beginners can start with it in an effective way. The chapter is
divided into three main parts. First, it tells us why you should learn crypto
trading and how it will help you succeed in life. Secondly, it teaches us all
about investing techniques that are essential for anyone who wants to take
as long as cryptocurrency is around.
Finally, it concludes with some strategies that will allow us to get ahead of
other traders. We also have a bonus section on how to choose crypto exchanges
and where to trade. All in all, everything you need to know about crypto
trading is right here! Now let’s get started!
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