If you’re looking to ???Make Money from the crypto coin??Eidoo (EDO) 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??Eidoo (EDO) 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??Eidoo (EDO) is to follow these steps, we cover all that you need to know for trading??Eidoo (EDO) 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??Eidoo (EDO). 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??Eidoo (EDO)). 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??Eidoo (EDO),??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??Eidoo (EDO) 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??Eidoo (EDO) which means a very high chance of success. Even if you are only planning on trading the one coin (Eidoo (EDO)) you still need to have several Eidoo (EDO) 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??Eidoo (EDO) 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 Eidoo (EDO) 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??Eidoo (EDO) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Eidoo (EDO) Trading
It is focusing on so many payment methods such as bank transfer as well as credit card and debit cards too. It has 5% fees on credit and debit card purchases.??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.Every time your bot DCA on a coin it comes with double the price. It is also having some settings to stop trading activity in certain market conditions to avoid incurring of loses.
What is the top cryptocurrency to invest in???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.??Alongside this decision, it is also equally important to understand the varied coins available from reliable sources.
Set clear boundaries
One of the major factors which increase the price of cryptocurrencies is the hype it creates in the starting and Reddit is the best place to find them. Reddit is full of people with a lot of knowledge and they are "early adopters", they will mostly go for new coins which make your work easier, instead of researching just follow the hype train of reddit.??It grew up to 30,000% in 2017 which shows its potential. XRP is looking good right now and it has potential to blow up in the future. Invest in this coin and you will get a good return on your investment.
This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.??2017 was the best year for crypto coins. Every coin returned amazing returns. But because of many malinvestments 2018 has been a red market for most of the coins.
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.??Coinmama is also mentioned to be the beginner friendly crypto coin. It put the main focus on the credit and so as the debit card purchases.
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.??Over with this piece of article we are heading towards the complete discussion about the comprehensive review on how to use trading view to trade crypto currency.??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.