If you’re looking to Trade the crypto coin YOYOW (YOYO) 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 YOYOW (YOYO) 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 YOYOW (YOYO)
So the best way to trade YOYOW (YOYO) is to follow these steps, we cover all that you need to know for trading YOYOW (YOYO) 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 YOYOW (YOYO). 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 YOYOW (YOYO)). 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 YOYOW (YOYO), 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 YOYOW (YOYO) 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 YOYOW (YOYO) which means a very high chance of success. Even if you are only planning on trading the one coin (YOYOW (YOYO)) you still need to have several YOYOW (YOYO) 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 YOYOW (YOYO) 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 YOYOW (YOYO) 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 YOYOW (YOYO) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on YOYOW (YOYO) Trading
The market loves those coins which can do something new and are not just ripping off BTC. BTC became famous because it was new at that time but now new coins just copy them which don't impress old users. So, these have been few of the significant and essential tips which you need to keep in mind when you are trading in cryptocurrency.Amazing place in the dashboard for many people as it contains the detail about your sales record so far.
The market loves those coins which can do something new and are not just ripping off BTC. BTC became famous because it was new at that time but now new coins just copy them which don't impress old users. Amazing place in the dashboard for many people as it contains the detail about your sales record so far. If you have enough patience, then you can wait for some time and earn with some of the amount. You can give a look around and check if anyone is ready to provide you with the service which you want to get.
10 tips for Crypto-currency trading are as follows:
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. One more factor that you have to keep in mind is to find those coins which have a strong team of veteran users because they know how to correctly market the coin. A coin that is backed up by strong CEO and other members will perform 100 times better than a coin which is not created by veteran users.
This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee. Crypto-coins or otherwise known as virtual coins has gained wide popularity with it being unregulated and irreversible.
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. In the beginning, if you are investing in crypto, then it is essential that you should analyze its trading volumes. By following the rule, you should always be taking yourself towards the crypto that has high daily trading volumes.
Picking an exchange is the gateway to the crypto globe. 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. 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.