If you’re looking to Trade with the crypto coin??Bitcoin Gold (BTG) 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 Gold (BTG) 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 Gold (BTG)
So the best way to trade??Bitcoin Gold (BTG) is to follow these steps, we cover all that you need to know for trading??Bitcoin Gold (BTG) 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 Gold (BTG). 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 Gold (BTG)). 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 Gold (BTG),??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 Gold (BTG) 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 Gold (BTG) which means a very high chance of success. Even if you are only planning on trading the one coin (Bitcoin Gold (BTG)) you still need to have several Bitcoin Gold (BTG) 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 Gold (BTG) 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 with Bitcoin Gold (BTG) 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 Gold (BTG) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Bitcoin Gold (BTG) Trading
Being the start upholder, making your way in the crypto market and earning the profitable results is a hard task to do. We are sure that these helpful tips will make your task rather easy enough.??The most important aspect to remember for trading is to always be careful not to splurge beyond ones means of income.Some enthusiasts on Wall Street had even joined together to raise awareness for bitcoin. The Digital Currency Council opened its doors in Manhattan in September 2014 to offer consulting, trading and accreditation to financial professionals.
As one with slight software development knowledge can create cryptocurrency which may be spammed at some cases.??If you find a new coin that can do some unique thing and also its price is low then 1$ then start investing in it without thinking much.??We would make you suggest trying with the day trade crypto until and unless you have a few thousand to play upon with. This is the point where you can actually start in terms of making a few hundred quickly.
Price and Volume charts
Then comes the profit trailer feeder which would help in setting strategies and selling conditions as per the market conditions such as volatility etc. With advancement of versions of the profit trailer trading bot, one can be able to set multiple strategies of trading for efficient results.??Picking an exchange is the gateway to the crypto globe.
The top way to use technical analysis in finding an entry point is to know candle stick patterns. For example, if you are looking to purchase bitcoin, then a bullish engulfing candle pattern on the weekly chart would be a best indicator that it is time to invest in the market.??You should be having a complete know how that where your exchange of choice is located. This is for the reason that every single state has with its laws and policies regarding the purchase of cryptocurrency.
???Don???t put all your eggs in one basket???. Especially in crypto trading never invest all your money in one Crypto coin instead keep shuffling them. Crypto is one of the most unpredictable markets where anything can happen.??Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger.
The Key to making huge profits lie in the new coins which blow up at any time. Who knows you will find next BTC or ETH and end up getting Audi in just a year time. In this article, we will discuss some key factors you have to keep in mind before investing in any coin.??Technical analysis has come about to be one of the excellent strategies regarding searching for the entry point when investing in financial assets.??Right now there are more than 1600 coins in the market and it's very hard for newbie's to find good coins to invest and most of the time they end up losing a lot of money. Even BTC is not a good coin to invest in 2018 but this market is not completely dead.