Cryptocurrencies are very volatile assets. It is most suitable for those traders who either hold them for long periods of time or give full-time to trade crypto. In the last 10-years, investment and trading in digital currencies have given a much higher return on investment (ROI) than any other asset, be it stocks, golds, or others.
If you want to earn crypto and trade your digital coins actively, there is a risk of losing them to the market, especially due to volatility. The traders of the traditional markets may find this kind of price volatility uncommon. That’s why many cryptocurrency enthusiasts, traders, and newbies just HODL their Bitcoin.
Cryptocurrencies operate on blockchain technology and that’s why all of them are decentralized in nature. One of the most well-known cryptos is Bitcoin. There are many kinds of other cryptocurrencies, generally called altcoins. Some of them are Ethereum (ETH), Chainlink (LINK), Cardano (ADA), Dogecoin (DOGE), Ripple XRP, and many more.
There are many advantages of decentralizing financial operations through cryptocurrencies over traditional ones. Some of the most important ones are:
In cryptocurrency, financial derivatives can be coded directly into the blockchain. Therefore, there is no need for any kind of financial intermediary.
There are many cryptocurrencies available. The largest digital currencies are:
There are around 5,000 cryptos available in the digital currency market currently. Which one should you choose to trade crypto or invest in?
Bitcoin is definitely the most popular choice because it is the most adopted of them all, has finite supply (making them inherently anti-inflationary), and largest market cap (of over US$1 billion). In the last 10 years, the price has increased from nil to US$54,000 currently with an all-time high (ATH) of nearly US$65,000. If you consider the ROI from BTC investment, you’ll see that the price has increased by +7,728% in the last 5-years.
If you want to diversify your cryptocurrency portfolio, you can invest in any of the top-50 digital coins, in terms of market cap. However, it must be said here that the small-cap altcoins have a much higher risk than that of the larger market cap digital currencies such as Bitcoin (BTC) and Ethereum (ETH). The main reason why small caps are riskier is because they have either underdelivered on their promises or questionable use cases.
When you invest in a crypto, always check its whitepaper, the team working behind it, how the cryptocurrency works, and other intended use cases. You can have a look at the Decentralized finance (DeFi) digital currencies. They are the hottest ones. These DeFo coins are usually created from the blockchain of Ethereum. They help in replacing traditional banking functions with codes. With solid fundamentals, some of these Defi tokens including yearn.finance, Compound, and Uniswap have grown by more than 500% in the last six months.
In terms of market cap, the leading 5 DeFi tokens are:
In the last 1-year, non-Defi currencies have also increased significantly. One of the leading examples being Ethereum. Its price has increased from a mere US$90 per coin to US$2500 in the last 1-year. The main reason behind its meteoric rise is the fact that its blockchain can be used for creating a wide range of financial applications.
5 steps are involved to trade cryptocurrencies :
You can buy cryptos easily and securely through a crypto exchange. So, open an account at any reliable exchange such as Gemini, Coinbase, Binance, eToro, or others.
You can open an account by providing your personal identification information. Some of the basic information that you may need to set up an account on any of these exchanges are your Social Security number, email address, physical address, and Date of Birth (DOB).
Always remember that you should open only that many trading accounts in different cryptocurrency exchanges that you can handle easily. Management of accounts is very important.
Once the account has been opened, you can connect your crypto exchange account with that of your bank account. Most of these exchanges provide their customers with bank account funding (especially through bank transfer from savings accounts or checking accounts), wire transfer, and debit cards or credit cards. These accounts are free to open on both Coinbase and Gemini cryptocurrency trading platforms. If you are a pro, you can also margin trade through future options trading. Investors and traders also make huge profits through future options
You can invest most of your available funds in the most popular digital currencies, Bitcoin (BTC) and Ethereum (ETH). One of the major reasons why most people invest in these two coins is the fact that their movement is more predictable than the smaller ones. That’s why it is easier to trade on both BTC and ETH with the help of technical indicators. Bitcoin is still the most popular cryptocurrency, having over 45% market dominance in the global cryptocurrency market.
You may also consult financial advisors and wealth managers to know which are the crypto assets such as Bitcoin and stocks to buy for both short-term and long-term growth prospects. Fund managers can also guide you in:
You can choose any or multiple indicators for successful crypto trading. There are many technical factors including Elliott Wave Theory. Some of the technical aspects that you must know are:
If you’re an experienced trader, you must have a foolproof strategy for trading cryptos.
If you are trading digital coins actively, you must store your funds on exchanges only because they are easy and fast to store and use. However, if you are willing to hodl for a longer period of time then it is more secure for you to store your bough coins on cold wallets, especially hardware wallets. You can also use software wallets including Android, Google Chrome, and iOS-based models. While the software wallets are free, the hardware wallets come at a price ranging anywhere from US$60 to US$200.
Top 8 Best Cryptocurrency Exchanges to trade crypto are:
Cryptocurrency Trading Robots (such as NapBots.com) automatically scan the market in real-time and trades for you. They run 24/7, which means that you can keep earning your passive income even when you are sleeping. This gives you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.
Smart crypto investors always remain prepared to get the best of a big market move. They don’t wake up suddenly. To remain alert round the clock, they use cryptocurrency trading bots so that they don’t miss any big market movement.
NapBots.com is a Trading Bot, cloud-based platform, on which you can connect to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda. Once you have set up napbots, you can trade crypto automatically with it.
The best thing about the Napbots trading software is that you don’t have to monitor charts and candles to predict your next move. Any novice trader with zero skills can also start to trade crypto like a pro and earn money with this unique trading tool. Let Napbots take full control over your trades in just a few clicks. Now, sit back and enjoy earning money.
NapBots crypto trading software is special because it comes with:
With NapBots, you can enjoy financial independence by trading cryptocurrencies on autopilot mode and earn money automatically. To make it work on your behalf, you have to do the following:
Step #1: Connect to one of the available trust exchanges.
Step #2: Select from the unique list of performing Bots of NapBots
Step #3: Choose a plan that suits your investment style
Once you have completed these three steps, NapBots is ready to trade crypto and earn money for you. Happy Trading!
If you still need assistance, you can refer to the following step-by-step purchasing guides for the various payment methods: