There are many ways to engage selling and buying of crypto-currencies be it bitcoin,Ethereum, Dash,Litecoin and so on. one should stick to a platform that best suite or serve his or her needs. i have compiled some simply strategy one needs to use to be successful in the cryptocurrency world but first, let see the following-
Ways of selling and buying cryptocurrencies
1. Person to Person
We can transfer bitcoin or other alternate coins from one person to another or from one wallet to another. terms are prices are agreed by the individuals or exchange one currency for a price or another.
2. Exchange
The exchange is a virtual meeting place for both buyers and sellers it can be in the form of a customized or specialized exchange like Coinbase, Bitrex, Poloniex and so on. they usually have an automated system for exchanging cryptocurrencies
3. Escrow
The popularity of the Escrow system came about as a result of Telegram and other social media groups. the Escrow act as a witness between sellers and buyers and also a place for safe guarding the cytpocurrencies
Why have an Exchanger?
- Provide efficient environment for people to buy and sell
- very volatile exchange ground
- Easy to predict, a lot of dumb money
Things to take note of when using an Exchange
- Big bids and ask spreads
- Transaction fees
- No regulated exchange
- Best to Trade for minimum 5% moves (ideally 10% to 20%) at least
Trading and Technical Strategy of Crypto-currencies
The best way to improve the volume of cryptocurrencies is to trade it. you can make more money in crytpo-trading when you exchange the value of an alternate coin for another or vice versa. the best trading strategy so far i have mastered includes -
- use technical analysis to understand where the trend is going
- Always think like a contrarian. do the opposite of the masses, when they are panicking look for places to buy
- Only ride a trend if you can get in early don't chase highs
- Always follow up respectful traders view
How do you setup your Trading accounts?
- have a short term trading strategy
- Have a long investment account always consider the bullish and the bearish
Examples of popular Exchange
- Coinbase
- Bitstamp
- Polinex
- Bitrex
- Coinomy