If you’re looking to Bot Trade the crypto coin Ethereum Classic (ETC) 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 Ethereum Classic (ETC) 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 Ethereum Classic (ETC)
So the best way to trade Ethereum Classic (ETC) is to follow these steps, we cover all that you need to know for trading Ethereum Classic (ETC) 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 Ethereum Classic (ETC). 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 Ethereum Classic (ETC)). 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 Ethereum Classic (ETC), 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 Ethereum Classic (ETC) 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 Ethereum Classic (ETC) which means a very high chance of success. Even if you are only planning on trading the one coin (Ethereum Classic (ETC)) you still need to have several Ethereum Classic (ETC) 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 Ethereum Classic (ETC) 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 Ethereum Classic (ETC) 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 Ethereum Classic (ETC) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Ethereum Classic (ETC) Trading
From change in regulations, media influences and technological advancements is what that keep affecting the prices of the coins. 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.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.
Trading cryptocurrencies be it any form can be an intimidating affair in itself. With the passage of time, the number of cryptocurrencies increases hence the coverage of the instruments turn out to be much complex in the market space. The best way to reach to a conclusion as to which coin to opt for is, to begin with, researching.
Look for the little fry
You will be able to make the $8 profit off of your first of the 2 trades. Or you can often get into the options for making about $15 granted everything worked in the same way you have hoped for. Do you want to know what are the top crypto currency coins to trade? If not, then scroll down and learn about all those amazing and best top crypto currency coins to trade:
With current evolution and advancement of technology and advent of new form of digital currency named cryptocurrency, new trends are coming into limelight. 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.
The basic motto which every trader should follow is that the best time to buy is when the prices are low. It has a simple user interface that make it easy for the beginners to make an investment in the cryptocurrency.
Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity. If you are new in the field of crypto currency trading, then you would definitely be having a question in your mind that how much money you can make from crypto currency trading. Before you make the final mind on committing with the business with an exchange, you should be taking into consideration the types of payments that are accepted. For this purpose, you have to spend some course of time on the exchange to look for the payment method.