If you’re looking to Trade the crypto coin??Lisk (LSK) 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??Lisk (LSK) 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??Lisk (LSK) is to follow these steps, we cover all that you need to know for trading??Lisk (LSK) 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??Lisk (LSK). 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??Lisk (LSK)). 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??Lisk (LSK),??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??Lisk (LSK) 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??Lisk (LSK) which means a very high chance of success. Even if you are only planning on trading the one coin (Lisk (LSK)) you still need to have several Lisk (LSK) 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??Lisk (LSK) 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 Lisk (LSK) 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??Lisk (LSK) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Lisk (LSK) Trading
It is all the more a known fact that putting into the investment of the cryptocurrency has become all the rage.??If you want to know that what sort of the what sort of the cryptocurrency you want, you will need to use certain exchanges.Before investing in Bitcoin wait for a major fall in price and then invest into it, who knows maybe you will end up making more than 10,000$ in profit like 2017.
Crypto Coins are one of the best ways to make a huge profit on your investments but only if you invest smartly.??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.??There are many things to consider when picking a best exchange, and the abovementioned factors should serve as a guide.
Never put all your eggs in one basket
Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity.??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.
It has almost 2 million accounts and has different set of variety of cryptocurrencies for sale. They have no fees in beginning as they charge a premium on the Bitcoin price.??This is one such kind of the money that would be left over as in from the side of the spending into the Gift coins which you can readily avail to donate out. This would bring about with some of the difference without adding any effect to the money spending.
There is a range of duration as about 1 week waiting period. The best method would definitely be about the load USD or the currency right into the exchange category.??Now that you have selected the coins to invest in, you need to find an entry point for your investment. Technical analysis has forever been the top strategy for finding an entry point when investing in financial assets.
You would be getting as profited $20.31 in the medium of the intent to buy back as it gets drop below in the range of $333 again.??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.??Altcoins can lose their value over time. Sometimes they can bleed out very fast which can make you broke. Only hold those coins which have a very good community backup like XRP, Montero, and LTC.