If you’re looking to Make Money from the crypto coin BNT 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 BNT 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 BNT is to follow these steps, we cover all that you need to know for trading BNT 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 BNT. 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 BNT). 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 BNT, 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 BNT 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 BNT which means a very high chance of success. Even if you are only planning on trading the one coin (BNT) you still need to have several BNT 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 BNT 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 Money from BNT 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 BNT at the same time then you are going to increase your investment size too and so profit much more.
Further tips on BNT Trading
The user interface of the exchange should be simple to use and clean to reject confusion. Having the basic indicators at the tip of your fingers and the simplicity of navigating via the platform should make it simple for any person to use the interface. 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.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.
It is vital to look at the fees of your exchange, to view if it is quite comparable to other exchanges. Not only are people aware of the usage of this form of virtual currency but also people are looking into investment options related to it. Trading of cryptocurrency has become equally widespread as much as stock market is in new financial world. Well, this is all we have ended on with the discussion of some of the critical and top tips as required while choosing crypto coins.
Buying and trading crypto currency
Picking an exchange is the gateway to the crypto globe. If you want to know that what sort of the what sort of the cryptocurrency you want, you will need to use certain exchanges.
This is the location in the dashboard that lists you the details of the coins you have bought so far and waiting to be sold. There is a wide range of the traditional strategies that can somehow be applied on the cryptocurrencies through which you can make money in a complete volatile manner. Let's discuss some tips to do cryptocurrency trading successfully!
On basis of technical analysis and sentiment as the set parameters to do the trading for a trader. Well in terms of making the money, the very first thing which you do need to keep in midn is that hardly around 25% of all of your profits get paid to the IRS when your taxes are due. So imagine for a second that you do buy 3 ether for $333.33 and then sell them as they would be hitting the timeline of $340.00.
Then comes the step of parameter setting which would help you go about your day while letting your bot do the trading for you. One such important feature is DCA (Dollar Cost Averaging) which you keep up the profit for your coin even though the market price is falling. 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. Simply purchasing and holding without some strong backing to such a decision, is no longer a clever strategy.