Hello Friends,
Today I will share with you some of the tips and tricks that will help you guys if you are new into Crypto Space and wanted to enter into it in order to earn money.
In the beginning, I would suggest that you stick to the basic trading.
BUYING OF CRYPTOCURRENCY USING FIAT CURRENCY
First of all, you need to buy some Crypto assets using your fiat currency. If you are in United States, you can use the https://www.coinbase.com/ to buy some bitcoins or Ethereum.
You might need to create an account on the https://coinbase.com/ and get it verified in order to buy in higher amounts.
Coinbase support many Crypto assets that you can buy. I am assuming that you're are buying Bitcoin using your Fiat.
CREATING AN ACCOUNT ON EXCHANGE FOR TRADING
Now you need to open an account on good exchange such as https://www.bittrex.com/ or https://www.binance.com/
=Get it verified for higher limits of deposits or withdrawals.
= Don't forget to enable GOOGLE 2 Factor Authentication on your account, it adds the high level of security to you account.
Moving the Assets to Exchange for trading
You have to deposit the assets to exchange account that you just purchased on Coinbase.
Deposits take some time depends on the network load and coin. Ethereum requires 30 confirmations on ethereum blockchain whereas bitcoin only need 3 confirmation in order to send the funds.
PLACING A BUY OR SELL ORDER
After you receive your deposit on exchange, you need to place a buy order.
But before that you might need to look for the assets that are in low price since last 24Hours.
Here we taking example of Hydrogen.
PLACE BUY ORDER
I have BTC in my exchange wallet. I will look for the price of Hydro. I saw that 1 Hydro price is 77Satoshi (Satoshi is the unit of bitcoin, 77 satoshi also written as 0.00000077BTC) at this time but it was 159 Satoshi in last 24 Hours. I would buy the HYDRO for my bitcoin at 77 Satoshi. Suppose I had 0.20000000 BTC in my wallet. So for 0.20000000 BTC i will get 259,740 HYDRO.
PLACE SELL ORDER
Now what i have to do is that i will place a sell order greater than the price i just bought. I would be selling it for 99 Satoshi for 1 HYDRO.
You need to have patience at this time. Wait until yor sell order gets filled!
REMEMBER: NEVER SELL BELOW THE PRICE YOU BOUGHT
After your order gets filled 100% you will now have 0.25714260 BTC
You just made 0.0571426 BTC profit.
Now again, Use that 0.25714260 BTC to buy HYDRO or any other assets depending on the market situations and price and sell again at the higher price.
THIS WAY YOU WILL BE ABLE TO INCREASE YOU BITCOIN NUMBERS
SENDING ALL PROFIT BACK TO COINBASE FOR SELLING
Now that you have already made profit, just withdraw all your profit back to the Coinbase from where you bought these assets using fiat and sell it for a good price.
This way you can earn good profit in cryptocurrency!
I hope you have learnt something as a new trader from me. If you like my blog please comment and Up-vote for me.
Thank you!