If you’re looking to Make Money from the crypto coin ICONOMI (ICN) 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 ICONOMI (ICN) 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 ICONOMI (ICN)
So the best way to trade ICONOMI (ICN) is to follow these steps, we cover all that you need to know for trading ICONOMI (ICN) 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 ICONOMI (ICN). 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 ICONOMI (ICN)). 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 ICONOMI (ICN), 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 ICONOMI (ICN) 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 ICONOMI (ICN) which means a very high chance of success. Even if you are only planning on trading the one coin (ICONOMI (ICN)) you still need to have several ICONOMI (ICN) 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 ICONOMI (ICN) 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 ICONOMI (ICN) 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 ICONOMI (ICN) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on ICONOMI (ICN) Trading
If you are considering to make an investment in Crypto, then above mentioned crypto currency coins for trade are best options for you. Which one of them you will experiment first of all? 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.So far, about 12 billion coins in circulation are recorded 21 million total to be produced for 2040. This limit their production turns the coin into a deflationary because units will be lost or destroyed, the which means that instead of losing value over time, as any fiat currency, each Bitcoin could increase its price over the years.
There is support for three exchanges - Poloniex, Bittrex, and Binance. The user can purchase a license to trade in single exchange or mixture of 2 or 3 exchanges. The pricing varies based on the number you pick. Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity. This is possible if you will be assuming the price stays stable. In the best case scenario you can hence make $1,000 if the price of Ether by some freak occurrence doubles.
Motto should be to buy low and sell high
Litcoin is like a brother of Bitcoin. It can handle more transactions in little time and also have anonymity like Bitcoin. It is also one of the oldest coin which was launched in 2011 and have a good reputation in the market. I know many of the crypto users don’t know about ONT but it is the only coin in the market which is currently giving huge profit to investors. In 2018, it has increased by 400% and is still increasing. This coin is best for those who want to make some quick profit and don’t believe in holding coin for a year or more.
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. Kraken is mentioned to be another better cryptocurrency exchanges. It is stepping ahead in providing with the reliable as well as high-security environment. They do offer high liquidity with low fees and fast setup of funding.
Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates. Some enthusiasts on Wall Street had even joined together to raise awareness for bitcoin. The Digital Currency Council opened its doors in Manhattan in September 2014 to offer consulting, trading and accreditation to financial professionals.
With recent enhancements in this digital form of currency has brought in the need for people to invest in such coins to get profitable returns in future alongside stock markets. 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: Checking for the liquidity of the coin is another such deciding parameter for selection of crypto-coin.