We live in the day and age of cryptocurrency. Our society is on the verge of going cashless and
soon, the cryptocurrency market would be the biggest market. Not to mention, different countries
have introduced their own cryptocurrencies and the buying and selling of cryptocurrencies is taking
place on a large scale. If you’re thinking of investing in cryptos, consider whether buying or
selling suits your needs best. In this article, we will discuss about some cryptocurrency exchange
Buying and Selling Cryptocurrencies
Before you can even begin trading, you have to buy some cryptocurrencies. For this, you have
to first identify which exchange you would like to trade in, as per our recommendations one
can go for Digital Ticks
Exchange. Each exchange is different but not perfect in every aspect. You just have
to select that exchange that suits your needs and requirements.
Some notable cryptocurrency exchanges are Binance, Bitmex, Bitfinex, KuCoin, Huobi,
Changelly, Bittrex and
Digital Ticks just to name a few. All you need to do is setup an account there, connect your
bank account, debit or credit card and start exchanging!
Now that you’ve decided on the platform for cryptocurrency exchange, its time to decide
which cryptocurrencies you want to buy. Here are some cryptocurrencybuying tips for you. If
you are a beginner, you should start with major cryptocurrencies like Bitcoin, Bitcoin Cash,
Ethereum, Ripple XRP and Litecoin. With so many cryptocurrencies around, it can be best to
choose those that you know something about, rather than taking a broad-brush approach. In
short, don’t get involved in many cryptocurrencies. Get involved in few and study its
trading history carefully.
Now that you’ve decided on the cryptocurrencies that you want to buy and sell, it’s time to
learn some cryptocurrency exchange strategies. You can find many crypto trading strategies
online but we are going to describe some of the best techniques that are being used by many
crypto traders all over the world. Some of these techniques are day trading, scalping, trend
trading, swing trading, position trading and automated trading.
This trading technique helps in making quick profits from intraday price movements. It is
where you open and close trades within a single day. The advantage here is that you avoid
the costs and risks associated with holding positions overnight.
It is a high form of trading where your goal is to make small profits from a large
number of trades. You open positions in line with a trend and enter the market multiple
times as it develops. It is one of the most short term strategies. Highly recommended if
you want to exchange volatile assets like cryptocurrency.
In this technique, your main aim is to maximize profit by holding position open for as
much of the price movement as possible instead of opening and closing multiple positions
quickly. It can be a short, medium or a long strategy depending on the time the trend
The main focus of swing trading is to notice price oscillations in the trend, aiming to
make the most of market volatility by trading moves in both directions as the trend
develops, hence the name “swing”. This technique is quite unpredictable for extremely
high and low trades because you cannot tell when a “swing” is underway.
Position trading involves holding a position for longer than a day; for weeks or even
months. This technique allows you to add few trades as a position trader compared to
other strategies. Highly recommended, if you want to take-out a long term position on a
Automated trading involves the use of computer to monitor the market and look for
opportunities to place trades automatically. You need a good algorithm for this, though.
It entirely depends on how you program the computer to monitor and on what conditions it
should place trades. Platforms like Cryzen offers the best environment for you to write
your own algorithm.
So far we have discussed digital currency buying and selling techniques, along with some
famous trading strategies. However, there are some tips that would help you get the best
out of your trading.
Learn First: Cryptocurrency market is not a platform for experiments or taking
uncalculated risks. Study the market first. Notice its trends and then start
planning out your strategy.
Trading plan: A trading plan is like the blueprint of all the operations you’re
going to perform like risk objectives, training strategies, risk management rules
and more. Try to define all of these things first.
Practice: Practice makes a man perfect. Even applying the best strategy does not
guarantee success. So, if you’re a beginner, create a demo account and practice
strategies. This will help you a lot.
Be disciplined: Be disciplined and consistent when trading. Don’t be overconfident
or underconfident. Be sure to stick with your plan and don’t let emotions take
control over you.