If you’re looking to Trade the crypto coin??Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD)
So the best way to trade??Bitcoin Diamond (BCD) is to follow these steps, we cover all that you need to know for trading??Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD). 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??Bitcoin Diamond (BCD)). 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??Bitcoin Diamond (BCD),??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??Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD) which means a very high chance of success. Even if you are only planning on trading the one coin (Bitcoin Diamond (BCD)) you still need to have several Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD) 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 Trade Bitcoin Diamond (BCD) 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??Bitcoin Diamond (BCD) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Bitcoin Diamond (BCD) Trading
Another essential aspect of the coin is the volume of trade it undergoes on a per day basis.??These coins have a very good reputation and won???t bleed too fast. Other coins can make you broke if you don???t keep close track on them.But, of course, to be a practical currency, it requires the ability to be divided, and Bitcoin is no exception: each unit can be divided into smaller parts called 0.00000001 Satoshis. This ability to split makes it very convenient to buy things or to hire services.
Always buy your new crypto coins when they are at their dip to make most out of it and Never ever buy them when they are approaching their peak price. It???s obvious but a lot of people still do this mistake of buying coins at their peak and then end up losing all the money.??Ethereum has a couple of issues in past due to which its price decreased by 1000$ one of them is governments are cracking down of ICOs which mostly run on Ethereum which brought down its value. But still it is recovering now and you can make some profit in future especially if you are going to hold it for a long time.??If you are new to crypto then getting hold on to with this piece of article would come about to be much informative for you. Scroll down and get the general information and interesting facts related to it.
Availability of two-way authentication option, 2FA rises the security of your account.??Cryptocurrency- Currency of the future!! It has in recent times gained momentum in its usage and awareness among people. With its increased utilization it has brought into attention of whole new segment of investors thereby leading to enhancement of the market.
Another essential aspect of the coin is the volume of trade it undergoes on a per day basis.??Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates.
So, these have been few of the significant and essential tips which you need to keep in mind when you are trading in cryptocurrency.??To prevent a single bitcoin be worn more than once by the same person (in other words, to prevent counterfeiting), the network uses what Nakamoto describes as a distributed server time, which identifies and orders sequentially transactions and prevents its alteration.
Checking for the liquidity of the coin is another such deciding parameter for selection of crypto-coin.??You can take the best help out from your friend who is already having some of the ripple as in buying trade crypto currency with Paypal.??There are more than 1500 crypto coins and it???s very hard to find next big coin. One way you can make your work easier is by using Reddit Crypto related subreddits to find which next big coin is community going to back up and then do your own research to see if it can return some good profit.