If you’re looking to Make Money from the crypto coin VeChain (VEN) 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 VeChain (VEN) 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 VeChain (VEN)
So the best way to trade VeChain (VEN) is to follow these steps, we cover all that you need to know for trading VeChain (VEN) 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 VeChain (VEN). 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 VeChain (VEN)). 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 VeChain (VEN), 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 VeChain (VEN) 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 VeChain (VEN) which means a very high chance of success. Even if you are only planning on trading the one coin (VeChain (VEN)) you still need to have several VeChain (VEN) 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 VeChain (VEN) 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 VeChain (VEN) 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 VeChain (VEN) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on VeChain (VEN) Trading
So, these have been few of the significant and essential tips which you need to keep in mind when you are trading in cryptocurrency. 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.On the last we will be discussing about LocalBitcoins. They step ahead as it offers a peer-to-peer (P2P) exchange. It would let the users in terms to trade among themselves individually.
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. Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. 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.
Look for hype
Before you make the final mind on committing with the business with an exchange, you should be taking into consideration the types of payments that are accepted. For this purpose, you have to spend some course of time on the exchange to look for the payment method. For example, an easy strategy would be to have ninety percent and ten percent short. This technique assumes you more confident in a long position. So, this technique may cater any level of danger.
Looking into the client base of the coin is also a pre-requisite while choosing the crypto-coin. This will let the user or the beginner get some sort of encouragement to donate even more and more. All these processes were developed with the aim as to encourage people to give even much more money and help essential causes in which you much care about.
It hence ranges into the 1.49% fees on bank purchases. It also put together with the 3.99% fees on credit and so as the debit purchases. 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.
Cryptocurrency- Currency of the future!! It has in recent times gained momentum in its usage and awareness among people. With its increased utilization it has brought into attention of whole new segment of investors thereby leading to enhancement of the market. It is all the more a known fact that putting into the investment of the cryptocurrency has become all the rage. Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors.