If you’re looking to Bot Trade the crypto coin??Bluzelle (BLZ) 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??Bluzelle (BLZ) 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.
So the best way to trade??Bluzelle (BLZ) is to follow these steps, we cover all that you need to know for trading??Bluzelle (BLZ) 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??Bluzelle (BLZ). 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??Bluzelle (BLZ)). 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??Bluzelle (BLZ),??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??Bluzelle (BLZ) 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??Bluzelle (BLZ) which means a very high chance of success. Even if you are only planning on trading the one coin (Bluzelle (BLZ)) you still need to have several Bluzelle (BLZ) 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??Bluzelle (BLZ) 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 Bot Trade Bluzelle (BLZ) 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??Bluzelle (BLZ) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Bluzelle (BLZ) Trading
But still for the beginners, they do come up with so many options too. It is ideal for the beginners and there is no doubt about this fact.??The creation of this coin is a small fairy tale Internet. The Bitcoin proof of concept first emerged in 2009 and was created by the mysterious figure of Satoshi Nakamoto , who really do not know anything, because not only gives interviews and communicate via email . Your personal data are so scarce that many think his name is a pseudonym for a group of people who created the currency.Hence it is quite important to look into the history of the developer of the coin while making the choice.
Even though the present price of the coin is not that an indicative parameter to judge but can still give an insight of the market to assist your decision.??Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors.??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.
Consider Using Sharpe ratio
If you have enough patience, then you can wait for some time and earn with some of the amount. You can give a look around and check if anyone is ready to provide you with the service which you want to get.??Trading Altcoins and Bitcoin is not an easy task. A few mistakes and you can end up losing all your crypto coins which is definitely the worst thing that can happen to any investor. Best way to avoid this by learning from other mistakes.
Low transaction fees on selling and buying would relatively stop your margins to be eaten away, especially if you are a continue trade.??While selecting any exchange, make sure that it is safe and secure too. This is somehow much vital factor to learn about.
The money will be on the whole get separated while you are into the money purchasing modes and you will often be getting the feeling as if you are donating it.??Liquidity of the coin is measured from the volume and volume percentage of the coin. Here one needs to be careful of the exchanges which inflate the coin volume to attract traders.
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.??With this gain in popularity has brought in the paradigm shift of trend to investing and trading this form of digital currency in the current financial world.??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.