If you’re looking to Trade with the crypto coin??SALT 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??SALT 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??SALT is to follow these steps, we cover all that you need to know for trading??SALT 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??SALT. 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??SALT). 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??SALT,??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??SALT 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??SALT which means a very high chance of success. Even if you are only planning on trading the one coin (SALT) you still need to have several SALT 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??SALT 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 SALT 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??SALT at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??SALT Trading
There is a wide range of the traditional strategies that can somehow be applied on the cryptocurrencies through which you can make money in a complete volatile manner. Let's discuss some tips to do cryptocurrency trading successfully!??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?You can view the image of the trade crypto currency as the electronic email system too. You might do not get to know that how you should make the use of it in a better way. But it can surely be standing as one of the fair means of the communication in the middle of you.
The user interface of the exchange should be simple to use and clean to reject confusion. Having the basic indicators at the tip of your fingers and the simplicity of navigating via the platform should make it simple for any person to use the interface.??Here I shall bring into picture the trading bot of company named Profit Trailer. Profit trailer is one such company of Cryptocurrency which alongside selling its own Altcoins is taking the internet with its smart trading bot which would assist in selling and buying already well market established coins.??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.
Know about Security
While selecting any exchange, make sure that it is safe and secure too. This is somehow much vital factor to learn about.??Perhaps the greatest achievement of Satoshi Nakamoto is that of having solved the problem of double spending in a decentralized system, has revealed that both economists and programmers.
Having a fast customer support would save you lot of anxiousness and time, especially in a quick-paced atmosphere.??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.
Low transaction fees on selling and buying would relatively stop your margins to be eaten away, especially if you are a continue trade.??The first thing you need to do is always analyze the Price Comparison graph of the coin you want to invest in. After that check the trading volume of that coin and only trade in those coins which have high Trading Volume because they are backed up by a large community. Coins with low trading volume are not backed up and thus have risks of falling.
This concept and complexity make money making many compounds inside the market world. For the beginners, knowing about the cryptocurrency trading is a hard task for sure.??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.??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.