If you’re looking to Make Profits with the crypto coin Augur (REP) then we have details on how to do that below, trading is much better than holding (or hodling as some say) as you can increase your investment sum as well as the value of that investment over time. So you can trade Augur (REP) and other coins too if you’d like and increase the balance that you have of that coin, all while the value of that coin increases too which means very big profits.
Trading Augur (REP)
So the best way to trade Augur (REP) is to follow these steps, we cover all that you need to know for trading Augur (REP) and other alt-coins so that you can make easy profits:
- There are a few different accounts that you are going to need to open those first, the first is Binance as this is where you will be trading your Augur (REP). Binance is easily the best crypto trading platform as it has by far the lowest fees, has the best coins and is also very easy to use.
- The second account is Coinbase, this is where you buy the initial Bitcoin (you trade in Bitcoin so use it to buy and sell Augur (REP)). We recommend that you start with a small amount while learning to trade but enough to cover several concurrent trades as you need those as you’ll never be 100% successful in all trades so you need a good amount to allow for the occasional one that goes bad (they’re not bad for long though as you just hold these until the price increases so that the bot can sell them), so we recommend $150 to cover this.
- Once you have bought some Bitcoin you simply need to send it to Binance so get your Bitcoin wallet address from Binance and then use that on Coinbase to send all of the Bitcoin to Binance.
- So once the funds have arrived you are ready to start trading, but in order to do that you are going to have to understand indicators as these are what are used to signal that a buy or sell is needed. The best thing to do is to go to TradingView and use the interactive chart for Augur (REP), have a look at the indicators for data like RSI, MACD, SMA, EMA and Bollinger Bands as these can all be used to signal your bot to buy (or sell). So the best thing to do is to simply play with those indicators and try to match them up to the highs and lows of the Augur (REP) price, so for example when the RSI is low the price is generally low or you can use crossovers for indicators like MACD, SMA or EMA as they usually indicate a price increase.
- So once you understand the indicators (just experimenting on TradingView is easily the best way to do that although there are lots of guides online) you are going to need a trading bot and by far the best is Profit Trailer. This is because it’s very fast and effective, most bots are slow and so miss opportunities or sell too late and so can ruin your trading business but Profit Trailer is so fast and effective so is easily the best choice. You will need to download the bot and run it and then set it up, you will need to enter your Binance API keys and then set up your settings (see the Profit Trailer Wiki for great information on that).
- So enter your settings and use the Wiki to understand them, use those that you have used on TradingView and that you can see work for Augur (REP) which means a very high chance of success. Even if you are only planning on trading the one coin (Augur (REP)) you still need to have several Augur (REP) positions open so be sure to use a percentage of your balance like 10% for each trade as not all will succeed (they will eventually but you will have to wait on the failures for the price to increase enough to sell again, which the bot automatically does), so having lots open means that most will succeed so you keep the trading going at all times which means more profit.
- You then need to have a selling strategy and Profit Trailer can use lots, we find though that a simple Gain amount with the trailing feature turned on is the most successful (so it will sell at likely the highest amount possible before the price falls back down). So if you are only trading Augur (REP) it’s much better to trade rather than hold, see Compound Daily for an idea of how you can grow your investment, at the same time as the price is generally increasing over time too so huge profits!
- To withdraw your profit you are going to have to transfer Bitcoin (or any other altcoin that Coinbase support) back to Coinbase and then transfer the funds to your bank account from Coinbase as Binance don’t allow you to withdraw to a bank account.
- Don’t withdraw all of your funds though, it is better to keep it growing and so withdraw a small amount like 20% per month so that the total investment grows and so do your profits.
- Lastly, don’t fall for any scams as there are so many in the crypto world, the companies mentioned here are 100% safe and that’s easily verifiable online as they are huge companies. If something sounds too good to be true, it is!
So that is how you can Make Profits with Augur (REP) and make a lot of money doing so. Holding does just that, as the value of the coin increases you obviously make money, but if you are trading Augur (REP) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Augur (REP) Trading
The most important aspect to remember for trading is to always be careful not to splurge beyond ones means of income. This is the location in the dashboard that provides the information about the currencies you are interested and followed. If a currency is on this list it indicates the most credible list of currencies to be bought.A coin which has high per day trading volume has higher tendency of it being effective as well as with high level of trust to invest among people. Hence it short opt for coins with high trading volume in 24 hours basis.
As you have wholly narrowed down with the list of some of the cryptos, you should look for the one that is considering having the potential to take-off faster than the rest. For this purpose, you should keep yourself up to date with the news. It offers the range of lower fees. It make you offer with the resolution system, all along with the rating system for traders. This is possible if you will be assuming the price stays stable. In the best case scenario you can hence make $1,000 if the price of Ether by some freak occurrence doubles.
Ease of use
So, how do you trade it successfully? A greater number of confirmations, will be the remotest possibility of being a victim of a double expense. When it exceeds the five acknowledgments from the network, a transaction is considered technically irreversible.
With current evolution and advancement of technology and advent of new form of digital currency named cryptocurrency, new trends are coming into limelight. From analysing the already users of the coin to scrutinizing feedbacks on internet forums as what better way to decide that a good recommendation.
On the realistic terms, if you will be day trading the $1,000 worth of Ether for at least one week then you can make up to $200 per week. Decentralization and forks are also counted as some of the major issues. They are much excellent to come up with the exploration and broad the technical stuff even much more appropriately.
Sometimes for the beginners choosing the right crypto coin is a big issue to face through. So here we are sharing with some of the essential and central top tips in choosing with crypto coins easily. This is the most important thing you have to look before investing in any new coins. It will give you direct insight about what’s the future of this coin. Find for coins that are having accelerating growth for both of the factor (Price and volume). It will give you a better idea about the future of that coin than just merely predicting on your instinct. As one with slight software development knowledge can create cryptocurrency which may be spammed at some cases.