If you’re looking to Trade with the crypto coin Ethereum (ETH) 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 (ETH) 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 (ETH)
So the best way to trade Ethereum (ETH) is to follow these steps, we cover all that you need to know for trading Ethereum (ETH) 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 (ETH). 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 (ETH)). 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 (ETH), 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 (ETH) 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 (ETH) which means a very high chance of success. Even if you are only planning on trading the one coin (Ethereum (ETH)) you still need to have several Ethereum (ETH) 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 (ETH) 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 with Ethereum (ETH) 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 (ETH) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Ethereum (ETH) Trading
On top of some of the purposes in buying trade crypto currency with Credit Card, we have come up with the avoidance of some of the technical issues in the ripple. Some of them are about hash rates as well as blocks and even about the nodes. You can quickly make it find through online, so you do not have to put into the worry of calculations. The sharper rate will be playing an essential role in order to measure the potential return of an asset based on its volatility.Coinbase is one of the best friendly exchange for the beginners. It has its headquarters in the place of San Francisco, California.
Amazing place in the dashboard for many people as it contains the detail about your sales record so far. Various exchanges permit short orders. This permits one to place bets on either side of Bitcoins price movements. Trading cryptocurrencies be it any form can be an intimidating affair in itself.
Ethereum is the second biggest crypto currency after Bitcoin. Ethereum has come down to 500$ from 1500$ (the peak value in 2017) in just a few months. That’s the reason I am giving it 5th position in this article instead of 2nd. 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.
Also, some research to be spared on the social media buzzes to blogs of what people are taking to current news are few reliable ways of doing your research for your choice of coin. When all variables are considered, profit trailer has achieved something special in the cryptocurrency globe.
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. The biggest key factor about LTC is that it can do the atomic swap (it can do peer-to-peer trading without the involvement of any third party) which makes it a better option to choose.
Profit trailer has become well famous for the returns that it has provided to its users. It has accomplished this by way of a mixture of its friendly interface, and the amazing community surrounding it. It is all the more a known fact that crypto white paper has been high in terms these days inside the marketplaces. This is the form of gift coin that is all about donating a small fraction to the people when you are considering to come upon with some of the profit right into it. If you are looking to buy Bitcoin, then in this condition bullish engulfing candlestick pattern on top of the weekly chart that turns out to be the excellent indicator to make your way inside the market.