If you’re looking to Trade with the crypto coin??Siacoin (SC) 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??Siacoin (SC) 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??Siacoin (SC) is to follow these steps, we cover all that you need to know for trading??Siacoin (SC) 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??Siacoin (SC). 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??Siacoin (SC)). 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??Siacoin (SC),??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??Siacoin (SC) 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??Siacoin (SC) which means a very high chance of success. Even if you are only planning on trading the one coin (Siacoin (SC)) you still need to have several Siacoin (SC) 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??Siacoin (SC) 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 Siacoin (SC) 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??Siacoin (SC) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Siacoin (SC) Trading
Coinmama is also mentioned to be the beginner friendly crypto coin. It put the main focus on the credit and so as the debit card purchases.??The Bitcoin is not backed by a material well and gets its value from the simple faith that people have in it will be accepted by others. Like the common currency, its price fluctuates with demand there is for possession, but unlike the currency, Bitcoin is limited in its production of 21 million units.The creation of this coin is a small fairy tale Internet. The Bitcoin proof of concept first emerged in 2009 and was created by the mysterious figure of Satoshi Nakamoto , who really do not know anything, because not only gives interviews and communicate via email . Your personal data are so scarce that many think his name is a pseudonym for a group of people who created the currency.
Cryptocurrencies are becoming more famous by the day, and many new investors want to know.??Hence it is quite important to look into the history of the developer of the coin while making the choice.??2017 was the best year for crypto coins. Every coin returned amazing returns. But because of many malinvestments 2018 has been a red market for most of the coins.
As a trader, you must have most of the money involved in BTC but still, keep trading them for Altcoins which can make you fast profit and then shuffle it again before it starts going down again.??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.
Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates.??Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates.
As you are sure enough of the fact that you have narrowed down on cryptos with the use of high daily trading volumes, you should pay much focus on their historical price movements. The best way would be using the financial ratio known as the Sharpe ratio.??Their fees have the higher end at 5.5%. They do not offer their users with the wallet on top of the exchange.
It would be recommended to put your best interest to utilize an exchange that is located in your home country. This would make you able to conduct business in your home currency.??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.??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.