Financial bots have existed for many years, but they were only accessible to the brokers and banks. Just the Bloomberg API cost 10000$ per year. Bitcoin Bots are different. They are managed on an external cloud/server, which means you don’t need to have your computer running all the time. The strategies are pseudo-coded – so you can say for example, if this indicator crosses that indicator, then buy. Else wait for that indicator. Most bots are user made with different ratings, which allow you to choose easily from several strategies, without the need to program any code at all. For example Cryptotrader.org – this way you can follow one of the profitable trading bots. Check out our CryptoTrader Review & day to day test to see if this is something for you, or not!
We are in a growing market; we could be in a growing market for years. There is no need to day trade. There are amazing returns available from finding a good coin with a solid trajectory, finding a good entry point and holding for the medium to long term until you are in profit. You are then able to liquidate some of your positions and find new entry points.
This is the most comprehensive guide I’ve ever seen! I just tried to sign up but they have suspended all bitcoins in Hawaii (or something like that, they said I’m not allowed to get it because it’s not allowed in the state of Hawaii). That’s too bad. Do you have any other advice in investing somewhere else, like a stock market or in gold directly?
The company says that residents of California, Massachusetts, Missouri, Montana and New Hampshire can can now buy or sell bitcoin and ether using the new Robinhood Crypto platform. The service will also allow investors to track 14 other cryptocurrencies, including bitcoin cash, litecoin, XRP, ethereum classic, zcash, monero, bitcoin gold and dogecoin.
Secondly, the factors involved with trading Bitcoin are completely different than those on a traditional exchange network. Fees, regulations, limitations…every single one of these points are completely different from using any other fiat currency or stock exchange system. Furthermore, all of these points have to be taken into account when deciding how much to buy or sell or when to buy or sell. Then there are the different ways you can purchase Bitcoin or other cryptocurrencies, and the multiple different ways you can sell that same currency. The only resemblance between fait currency exchange and cryptocurrency exchange is that just like choosing which software to use for trading stocks and fiat currencies, you will have to choose a cryptocurrency exchange platform.
Always check reviews to make sure the cryptocurrency exchange is secure. If your account is hacked and your digital currency transferred out, they’ll be gone forever. So whilst secure and complex credentials are half the battle, the other half will be fought by the trading software.
A while back, I put together a google doc for close friends and family who wanted to get involved with Crypto. Everybody has now at least doubled their money and some people have made a killing. I am now making this Google doc publicly available – it’s here, it’s free, your welcome 🙂
Mercado Bitcoin is the biggest exchange in Brasil and South America. It allows users to trade Bitcoin, Litecoin and Brazilian Reais. Users are required to provide a CPF or CNPJ number in order to register and login. Mercado Bitcoin has no limits for VIP accounts and higher, which requires document verification. Mercado Bitcoin has a solid reputation within the crypto community and over 100 thousand clients that use their service.
DISCLAIMER: Be a big boy or girl and make your own decisions about where to put your hard earned money. I am not a financial adviser and this is not financial advice and if I really need to tell you this then it’s best to keep your money in your pocket anyway.
So is everyone chasing a golden egg laying goose and getting scammed along the way? Not really. There is great potential for making some serious profit when investing with ICOs, but the lack of regulation and security is what we are worried about. Just because the system works doesn’t mean it is working the right way. Yes, in a certain alternative way ICOs are exactly what the whole cryptocurrency world is all about, but security is something that all cryptocurrencies focus on as well. We don’t see this same concept being implemented with ICOs.
I bought Elastic $XEL at the obscure Heat exchange. It was rather difficult discovering how to buy it because I was in this case ahead of the herd where the path was not well defined. In the end I bought it at a high price (average 31,367 Satoshis, should have got them at 25,000 Sats) as I got scammed over at Heat by a predator (Arsonic @Ars0nic on Twitter) playing the order book. We’ll see how that plays out. I think the excessive price I paid will not matter too much.
Trading fees: Low trading fees are important for the growth of any exchange. In this regard, Binance is very competitive and only charges 0.1% fee for each trade. Moreover, it should be noted that you can get a discount of 50% if you use their token BNB for trading. The discount is huge and it brings down the overall trading fees to just 0.05% which is one of the lowest in the exchange ecosystem.
But as a price goes down it also can go up tremendously. This creates thou the fear of a bubble which will make the price eventually crash. People that cashed out before a crash are the lucky or well, educated ones and make enormous amounts of money.
GDAX is a cryptocurrency exchange that is great for technical traders and offers high levels of liquidity. Deposits are in USD and can be processed just as rapidly as withdrawls. Also happens to be the best ethereum exchange for serious players in this space. For more information on GDAX.
Monero (XMR) was created in April 2014 and focuses on privacy, decentralization and scalability. It is a secure, private and untraceable currency system. Monero uses a special kind of cryptography to ensure that all of its transactions remain 100% unlinkable and untraceable. The word ‘Monero’ comes from the language Esperanto where it literally means ‘coin’.
The first digital coin introduced was Bitcoin and today it remains as the standard that all other coins compare themselves to. Following in its steps came Litecoin, so to date they stand as the top 2 highly valued coins on the market. There are several other coins also reaching a high-level market share such as Bitcoin Cash, Dash, Ripple, Ethereum, Monero and NEO.
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.
“We believe that cryptocurrencies have the potential to fundamentally reorganize the way money works from the ground up, putting power previously held by financial institutions directly in the hands of the people,” Robinhood added in its announcement.
The Relative Strength Index (RSI) is an indicator that measures the speed and change of incremental price movements, while also determining when an asset is overbought or indeed oversold. The RSI oscillates between 0 and 100 and is considered overbought when it is higher than 70, and oversold when it is lower than 30. However, in strong trends, which are very common in cryptocurrencies, the RSI may remain overbought or oversold for long periods of time.
It makes no sense for each trade to be a taxable event. You could make $100 on a trade and then mins later lose $150. You don’t pay taxes by the trade. You pay them by the year or quarterly based on your earnings.
Crypto trading will initially include only bitcoin and ethereum, with more coins offered later. Beginning in February, residents in five states will be the first to be able buy and sell — California, Massachusetts, Missouri, Montana and New Hampshire — with other states following in waves until trading is available nationwide.
I can’t find the tweet now, but just the other day I saw a guy posting about how he mortgaged his car, lost it all trading cryptos and his wife kicked him out. He was looking to get in on a “shit coin pump” aka where traders get together and buy like crazy to pump a penny-stock equivalent to the moon before dumping it on idiots. Not good. Do not be that guy.
Needless to say, Bitcoin’s place as an alternative digital asset among cryptocurrencies has become entrenched, despite likely headwinds it will continue to face as it evolves further. The U.S. Securities and Exchange Commission (SEC) announced in early August 2017 that certain Initial Coin Offerings (ICOs) – which use cryptocurrencies for financing – would be regulated as securities.
The rule of supply and demand is extremely important and not only in the cryptocurrency market. The price of any cryptocurrency you pick is always very closely linked to the amount of circulating currency. That means if the market capitalization increases so do the price of a cryptocurrency, eventually. So basically the more market cap grows the more grows the price of a cryptocurrency (usually directly proportional). Here is an example of a Litecoin graph so I could prove this theory in practice.
Coinbase is one of America’s most popular Bitcoin exchange site and probably the fastest and easiest way to buy Bitcoin in the US. The site has an ‘Instant Buy’ option for credit or debit card purchases and setting up an account is quick and easy with no long waits for verification (this can be an issue with some exchange sites).
Crypto currency day trading is offered by Forex/CFDs brokers as well as on some crypto currency exchanges, such as Binance. You should be careful when selecting a broker to open an account with since there are many scam brokerages out there.
You can check out my latest novel,an epic Chinese sci-fi civil war saga where China throws off the chains of communism and becomes the world’s first direct democracy, running a highly advanced, artificially intelligent decentralized app platform with no leaders.
Day trading is a job – Successful day traders make small gains on a regular basis, so it’s really just grinding out a job. It’s not a get rich quick scheme. I know a lot of people in crypto have this romantic idea of day trading, but in reality it’s just another job that you grind out. If you think you are going to double your money everyday, you will lose. You are basically earning a paycheck, putting in hours and making consistent gains everyday. If you look at day trading like this, you will do much better.
Great post man! I’m always highly interested in following motivated traders who have intense knowledge of what they speak of! Thanks so much for your contribution to crypto users and spreading the gospel of cryptos! Great luck to you in your trading!
I meant the Aristotelian Mean, a balance in approaching all subjects in life, including self support (money) and leisure. If you sit and compare your bank account to everybody else’s you are silly, no doubt. If you grow a large bank account because you enjoy things like a fine Scotch or owning your own airplane so you can take off and fly to New Zealand to rock climb, that’s not a bad thing at all.
The Guardian newspaper also talks about a Norwegian man, Kristoffer Koch, who invested 150 kroner ($26.60) in 5,000 Bitcoins in 2009 and forgot about it. But in April 2013, he remembered his investment when the price of Bitcoin began to rise astronomically. He eventually realized he had his 5,000 coins intact and as at then, they were already worth about NOK5m ($886,000), after just 4 years.
That’s why hacking is such a problem. Centralized exchanges are acting as custodians for a commodity that can’t be copied or double-spent, in an environment where possession is nine-tenths of the law, and using infrastructure that offers a certain amount of anonymity.
Kraken works well through SEPA, has an easy verification process (expect 4-6 weeks vetting with current backlog) compared to Bitstamp, and is very knowledgeable when it come to cryptography and security. As of early 2017, this platform has been re-positioning themselves as a crypto exchange by adding multiple new altcoins. I’ve written an in-depth Kraken review with everything you need to know..
Which cryptocurrency platform you opt to do your trading on is one of the most important decisions you’ll make. The exchange will act as a digital wallet for your cryptocurrencies, so don’t dive in without considering factors below first.