Cryptocurrencies and blockchains have entered our life and keep on expanding the application scope. Why is crypto becoming so popular? The answer is simple – it allows generating income by buying she selling digital assets at different crypto currency prices. The fact is that crypto assets do not depend on the government or central banks; the emission of crypto coins is not managed by these bodies. So cryptocurrency rates change rapidly following other factors such as:
► The crypto market tendency (bull or bear)
► Demand and supply proportion
► Competition, new crypto projects
► Global economic situation, inflation, and the readiness of people to invest money.
► The complexity of receiving coins (mining)
► Emission (limited or not)
► And other factors.
Analysing these factors helps us understand when it is time to buy digital coins and when to sell them. Based on the analysis results, traders pick a strategy:
1. It may be day trading, where a trader enters and exits the market within one day.
2. Or it can be scalping – short trades up to 15 minutes.
3. It may be a swing trading
4. Or long-term investments.
Where and How to Trade Crypto?
Crypto trading platforms, such as the famous Binance or less popular yet credible exchange, WhiteBIT, offer a wide range of features and trading tools. For example, spot markets, futures trading, margin, p2p, and other tools. On those crypto exchanges, you can set up trading bots and stop-loss mechanisms that will help you control your portfolio and protect against losses.
Here is how to start trading on the example of the WhiteBIT exchange. First, register on the service and verify your profile. Then if you have not got any coins yet, add your bank card and move the needed amount of fiat money to your account. Then go to the “Trade” section and pick the currency you would like to buy. The service will propose the current cryptocurrency live price, and you may proceed with the purchase by paying the fee. The coins will be accrued in your account in seconds. Then you may place more orders buying and exchanging crypto assets with benefits.
For more information about crypto trading, welcome to the WhiteBIT blog.
