If you’re looking to Make Money from the crypto coin Modum (MOD) 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 Modum (MOD) 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 Modum (MOD)
So the best way to trade Modum (MOD) is to follow these steps, we cover all that you need to know for trading Modum (MOD) 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 Modum (MOD). 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 Modum (MOD)). 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 Modum (MOD), 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 Modum (MOD) 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 Modum (MOD) which means a very high chance of success. Even if you are only planning on trading the one coin (Modum (MOD)) you still need to have several Modum (MOD) 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 Modum (MOD) 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 Modum (MOD) 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 Modum (MOD) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on Modum (MOD) Trading
Instead of finding coins which already have high value, go for coins that are currently low priced so you can make the most of it. One more reason is that investors who have less money go for low-valued coins which end up increasing their price fast. So instead of buying one BTC go for several low-valued coins. But it is time-consuming in a sense that it would require your maximum time to sit down and do with some of the processing altogether.You can take the best help out from your friend who is already having some of the ripple as in buying trade crypto currency with Paypal.
Thus, this would at the end brings your profit down to under the cost amount of $8.00. If you purchased it by means of the ACH, you pay much less in fees, but it would not be able to hence trade immediately. Problems on your confirmation process, deposits/withdraws, funds evidence and trading orders should be fixed fast by the exchanges, or it could cost compromise you cash, time and well-being. The top way to use technical analysis in finding an entry point is to know candle stick patterns. For example, if you are looking to purchase bitcoin, then a bullish engulfing candle pattern on the weekly chart would be a best indicator that it is time to invest in the market.
Find an entry point
This is possible if you will be assuming the price stays stable. In the best case scenario you can hence make $1,000 if the price of Ether by some freak occurrence doubles. The first factor you have to keep in mind before choosing any crypto coin is its current price. Find low priced coins which are currently less than a dollar. The biggest reason for this that it's easy to multiply your investment because even 1$ increase in its price can make your investment double but in case of BTC you need to wait for 1000$'s worth of increment to have some good profit.
It is all the more a known fact that putting into the investment of the cryptocurrency has become all the rage. In the industry of the cryptocurrency, the very first step into the cryptocurrency world will happen to take place as all the way through an exchange.
As you have wholly narrowed down with the list of some of the cryptos, you should look for the one that is considering having the potential to take-off faster than the rest. For this purpose, you should keep yourself up to date with the news. Picking an exchange is the gateway to the crypto globe.
The market potential can also be assessed by its online promotion, its presence in social media, look of its website, its marketing strategy or eventually how many people are willing to invest or invested in the coin. What is more amazing is that it has also been reported to make profits through the heights of Bitcoins fluctuations, demonstrating a best level of intelligence. Ethereum is the second biggest crypto currency after Bitcoin. Ethereum has come down to 500$ 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.