If you’re looking to Trade the crypto coin BitShares (BTS) 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 BitShares (BTS) 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 BitShares (BTS)
So the best way to trade BitShares (BTS) is to follow these steps, we cover all that you need to know for trading BitShares (BTS) 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 BitShares (BTS). 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 BitShares (BTS)). 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 BitShares (BTS), 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 BitShares (BTS) 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 BitShares (BTS) which means a very high chance of success. Even if you are only planning on trading the one coin (BitShares (BTS)) you still need to have several BitShares (BTS) 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 BitShares (BTS) 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 BitShares (BTS) 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 BitShares (BTS) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on BitShares (BTS) Trading
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. Coinbase is one of the best friendly exchange for the beginners. It has its headquarters in the place of San Francisco, California.Even though this whole concept is still in its initial phases of developments, can be sometimes misleading as whether to block your money on it or not. Today’s market has hundreds of these form of currency with famous ones being Bitcoin, Ethereum, Altcoins etc that it makes becomes difficult among newbies to make the right choice among it.
“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. 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. 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.
While sending bitcoins is instantaneous, and any operation can be monitored in real-time confirmations that shows the screen when using the Bitcoin software come to represent the process of clearing. Bitpanda is defined as the medium of the European based exchange. They do sell the Bitcoin, BCash, Dash, Ethereum, Litecoin, and Ripple for US Dollars, as well as Euros, and so as the Swiss Francs.
The best way to reach to a conclusion as to which coin to opt for is, to begin with, researching. Good thing about Monero is that its hash rate is low so instead of direct buying it you can mine it if you have good GPU and then keep them for more profit. Monero will never lose its value in the market because of the special features it allows.
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Another foremost aspect to look out for while trading cryptocurrencies is not to back all the fund on a single form of cryptocurrency as you would not like to be in the unfortunate situation of undergoing losses. Having a reason why you want to begin trading is a vital place to begin. Ensure you know why you are getting involved and make sure you have a perfect strategy laid out for afterwards. Their fees have the higher end at 5.5%. They do not offer their users with the wallet on top of the exchange.