Welcome to our web site, a free guide to trading crypto-currencies to make easy profits. So it’s very easy to make money online trading these crypto-coins, the prices are very volatile and so once you’ve learnt to but when the price is low and sell when the price is high you can make a lot of money doing this.
So we’re going to show you how to trade Bitcoin and crypto-currencies for free so that you can make very easy profits and make lots of money doing so. It’s very easy when you know how so follow the following steps and you’ll be trading in no time:
- You are going to need an account with Binance. Binance is easily the best crypto trading platform which you will use to do your trading as it has by far the lowest fees, has the best coins and is very easy to use.
- You will then need an account with Coinbase. You need Coinbase to buy the initial Bitcoin that you will use for trading, you can’t buy Bitcoin on Binance as it is only a trading platform so you have to buy the Bitcoin on Coinbase and then send it to Binance.
- We suggest buying a small amount of Bitcoin to start with but enough to make trading possible (you need several trades running at the same time to get the best results) so we suggest you start with $150 worth of Bitcoin. Once you have bought that get your Bitcoin wallet address from Binance (make very sure you get this right) and send your Bitcoin from Coinbase to Binance, so once the funds have arrived at Binance you can then begin trading.
- So to start trading you are going to need to understand how it works and by far the best way of doing this is to use TradingView. So it’s best to load any coin on the interactive chart and then load indicators like RSI, EMA, SMA or MACD (there are others too) and simply study the effects of those indicators on the price. So for example when RSI is low the price is generally low and when the price is high the price is generally higher, so buying when the RSI is a very good way of trading and you can set the crypto trading bot up to do that (see below). Be sure to change settings like the candle period of time (the longer the time the more reliable the data but the slower the sales so we suggest 30 minutes to two hours for best results), for indicators like the EMA and MACD you are looking for cross-overs so change the settings in those indicators until the cross-overs match the low and high points of the price (you’ll never get this exactly right but trading is all about being right as often as you can to get your success rate as high as you can, it’s fine to have some ‘failures’ as you can just keep them until the price increases so that the bot sells them for the profit (hence why you need several positions open at any time).
- So once you have a good idea of trading (see the TradingView Wiki for guides on the indicators) then you just need your bot and by far the best is Profit Trailer as it is very fast and effective (very important as most bots are slow and so miss opportunities). You need to enter your Binance API details and then set up the bot, you can see the Profit Trailer Wiki for details on that so read all of that and then get it set up.
- So once you have Profit Trailer set up and running, just leave it to run and it will buy at your settings so when the price is reasonably low (use the trailing buy settings to have the bot wait until the price is increasing so likely the lowest price plus the trail) and it will then sell when your settings have been matched so this can be a simple percentage gain which is the easiest (you can use trailing for this too which is very effective so again likely selling for near the highest possible price).
- So profits will accumulate over time and the bot will keep buying automatically and so increasing the size of your investment. This can increase surprisingly quickly, see Compound Daily to see how quickly and vastly it can accumulate if you get a good daily interest rate (Profit trailer will tell you your percentage increase for the last day so you can use that).
- To withdraw your profits you are going to have to transfer Bitcoin (or any other coin that Coinbase support) back to Coinbase and then withdraw to your bank account as Binance do not allow you to withdraw to a bank so you can only transfer coins out.
- You will hear a lot of people saying that holding (or hodling as some say) crypto coins is more effective than trading, this is not the case at all though and generally what amateurs think. You can just trade your chosen best coins and so increase the balance that you have of them, so over time not only does the value of the coin increase but so does your balance amount and so you make far more money.
- And lastly but very importantly, there are a lot of scams in crypto currency unfortunately so don’t buy into anything that sounds too good to be true, the services listed here are 100% safe and that can be verified easily online.
So that covers how to trade Bitcoin using a bot to make a lot of money, it’s very easy once you get the hang of it so be sure to read the wikis to get all of the additional information that you need. We also have information on trading specific coins so see our alt coins page for those.