The world is going digital. And while countries are only working on their electronic versions of currencies, digital assets have been in circulation for a long time. For cryptocurrency, you can go to the cinema, buy clothes or even accessories for a Tesla car. It is also one of the most profitable (and risky) investment instruments.
It is impossible to start successful cryptocurrency trading from scratch. Having decided to invest free funds in cryptocurrency trading, you should, first of all, prepare a knowledge base.
For successful trading, a crypto trader must learn the basic skills:
– analyze the cryptocurrency and the volume of its trading;
– use charts and codes;
– conclude sales and purchase transactions;
– track trading history.
When evaluating the prospects of cryptocurrency, you should pay attention to the following aspects:
for what idea the cryptocurrency was created and how much it can be in demand;
1. speed of transactions and convenience of working with tokens;
2. professionalism of the development team;
3. demand and popularity.
The combination of these factors ensures an increase in the capitalization of the cryptocurrency and, accordingly, its value. The charts display the history of the growth of the token rate in relation to another cryptocurrency or fiat money. Charts can be drawn using the interface of the exchanges, specifying a different period of time and choosing different trading pairs. With its help, one can conclude how reasonable the current price is and give a preliminary forecast for a further change in value.According to the history of trading and volumes, they track the overall liquidity of the cryptocurrency, how interesting it is for users, whether the demand for it is growing or decreasing.
Based on the knowledge gained, it is possible to draw a conclusion about the profitability of the cryptocurrency, predict its movement and make a profitable deal.
To complete a trade, a trader must place an order by selecting a trading pair for the exchange and indicating the number of coins that he wants to sell and their value. You can stir and close orders non-stop, but American and Asian time is considered the most preferable. It is during this period that there is especially high activity, which makes it possible to more clearly predict the course and make a quick deal.