Think trading stocks, but better. Why? Tiny commissions, markets open 24/7, simpler charts, and more accessibility. You can start trading with $5 and if this year is anything like 2017, you could virtually turn that into any number you want.
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At the most basic level, a cryptocurrency is really no different than the money you have in your wallet in the sense that they have no intrinsic value and cryptocurrency are just bits of data while real money is just pieces of paper.
I came to my senses on 18 May, 2017 when I underwent an epiphany. I then made a new (self-imposed) rule : broadly track the Top 10 cryptoassets in my portfolio, regardless of my opinion about their individual merits.
On most stock trading services like E*Trade and Scottrade, customers pay around $7 per trade to cover these companies’ marketing, physical branches and sales reps. Founded in 2013, Robinhood ditches those fees by running a lean operation centered around engineers and its app. It makes money on the interest of cash its customers keep with it, or by selling monthly Robinhood Gold subscriptions that let users borrow money to trade with.
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.
Not only day trading but even long term trading are unpredictable. I think day trading do not good for all types of people, specially for inexperienced people, who only depend on their luck in trading. In fact day trading require a lot of experience and trading skill along with good and regular study of the market so that you may know the right time to enter in market and get some profit from there. But it also depend on the market or where you are to trade. If there is some volatility in the price of selected coins then you have more chances to get profit from it, but trading experience and skill is too much important for day trading.
It’s a tough question in my opinion. Each will have an upside compared to others. Check a few out and look up on forums to see what users are saying about the service provided, and which they think are the best sites to buy bitcoin easily. Localbitcoins.com is a really cool p2p bitcoin exchange for beginners wanting to buy for their first time. The service is all over the world, meaning you can use euros, pounds, yen, australian dollars, swiss francs, canadian dollars, krona, rubles, lira, rupees and so on. If you pay by physical cash then you get to meet the person in real life. Alternatively you can do a fast bank transfer and the site will hold your coins in escrow for you once it goes through. Obviously there are more simple ways to start off. Some like to buy with paypal, but not many leading bitcoin exchanges accept this because of chargebacks.
r/Altcoin r/Best_of_Crypto r/BitcoinMarkets r/Blockchain r/BitcoinMining r/Bitcoin_Unlimited r/BitcoinXT r/CryptoMarkets r/CryptoRecruiting r/CryptoTrade r/DoItForTheCoin r/EthTrader r/Jobs4Crypto r/Liberland r/LitecoinMarkets r/LitecoinMining r/OpenBazaar r/XMRtrader r/GPUmining
We see the cryptotrading as a great opportunity to make good money. Many coins quadruple their value in less than a week. Though you always need to be cautious, because there are lots of fake coins, pump & dumps, schemes and ponzis.
Given the huge breaches at e-currency holding/trading companies (see Mt. Gox), the huge rise then immediate halving of the value of Bitcoin, I’m not certain I’d put much faith in Bitcoin right now, even though at one time I was a prime advocate for it and even own some (now defunct) external hardware miners. Mt. Gox blew a lot of faith and confidence in the market that I haven’t really seen recover much over the year.
The government’s ban on Bitcoin-related sites and platforms signaled its intent to essentially disallow any cryptocurrency activity within the country, given that the usage of virtual private networks (VPNs) is against the Chinese law.
Only time I ever somewhat daytrade is if I see an obvious pump, no news or announcements on a coin I already hold with a monstrous 1h candle, then wait a few hours and buy back in near where it was before the pump. Happened yesterday with Link. Sold at .9700 and bought back in a few mins ago at .8200.
The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the last year.