If you’re looking to Trade the crypto coin Litecoin (LTC) 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 Litecoin (LTC) 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 Litecoin (LTC)
So the best way to trade Litecoin (LTC) is to follow these steps, we cover all that you need to know for trading Litecoin (LTC) 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 Litecoin (LTC). 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 Litecoin (LTC)). 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 Litecoin (LTC), 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 Litecoin (LTC) 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 Litecoin (LTC) which means a very high chance of success. Even if you are only planning on trading the one coin (Litecoin (LTC)) you still need to have several Litecoin (LTC) 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 Litecoin (LTC) 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 Litecoin (LTC) 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 Litecoin (LTC) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Litecoin (LTC) Trading
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. It is difficult to predict the future of crypto coins in 2018 because even the Bitcoin is down by 35% right now but still we will try to tell you the best performing coins in 2018 in which you should invest and try to hold these coins for a long period of time to avoid any loss on your investment.Always begin with your trading when you are certain of your reason as why you want it which would help develop a definite strategy to go forward with.
Their fees have the higher end at 5.5%. They do not offer their users with the wallet on top of the exchange. For the beginners, we do consider these tips as useful much so that they won't be getting into big lose of investment at the time of their business. A greater number of confirmations, will be the remotest possibility of being a victim of a double expense. When it exceeds the five acknowledgments from the network, a transaction is considered technically irreversible.
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Crypto-coins or otherwise known as virtual coins has gained wide popularity with it being unregulated and irreversible. Bitcoin and Altcoins Trading is a very big topic and I can give you a lot of more advice on them for successful cryptocurrency trading, but above points are the most important which you should keep in mind before beginning.
Always keep your coin secured. Always use good wallets which have good reputation and try to avoid Get Rich Scheme coins like BITCONNECT or you may end up losing all your money in one instant. 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.
The Key to making huge profits lie in the new coins which blow up at any time. Who knows you will find next BTC or ETH and end up getting Audi in just a year time. In this article, we will discuss some key factors you have to keep in mind before investing in any coin. Today you can buy almost anything you want using bitcoin . You can pay passages Expedia, buy computers on Dell.com or newegg.com , furniture and household items on Overstock.com and to buy directly from amazon.com discounted up to 20 % using services like brawker.com or purse .io. And more and more ways to use bitcoin to buy goods and services appear.
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. This is the most important thing you have to look before investing in any new coins. It will give you direct insight about what’s the future of this coin. Find for coins that are having accelerating growth for both of the factor (Price and volume). It will give you a better idea about the future of that coin than just merely predicting on your instinct. 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.