If you’re looking to Bot Trade the crypto coin??Binance Coin (BNB) 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??Binance Coin (BNB) 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??Binance Coin (BNB)
So the best way to trade??Binance Coin (BNB) is to follow these steps, we cover all that you need to know for trading??Binance Coin (BNB) 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??Binance Coin (BNB). 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??Binance Coin (BNB)). 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??Binance Coin (BNB),??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??Binance Coin (BNB) 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??Binance Coin (BNB) which means a very high chance of success. Even if you are only planning on trading the one coin (Binance Coin (BNB)) you still need to have several Binance Coin (BNB) 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??Binance Coin (BNB) 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 Bot Trade Binance Coin (BNB) 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??Binance Coin (BNB) at the same time then you are going to increase your investment size too and so profit much more.
Further tips on??Binance Coin (BNB) Trading
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger.??Also, some research to be spared on the social media buzzes to blogs of what people are taking to current news are few reliable ways of doing your research for your choice of coin.Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates.
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.??There is support for three exchanges - Poloniex, Bittrex, and Binance. The user can purchase a license to trade in single exchange or mixture of 2 or 3 exchanges. The pricing varies based on the number you pick.??It has also garnered many happy customers by providing consistent standard outcomes.
What are the top Crypto Coins to Trade?
Good thing about Monero is that its hash rate is low so instead of direct buying it you can mine it if you have good GPU and then keep them for more profit. Monero will never lose its value in the market because of the special features it allows.??If you are looking to buy Bitcoin, then in this condition bullish engulfing candlestick pattern on top of the weekly chart that turns out to be the excellent indicator to make your way inside the market.
Amazing place in the dashboard for many people as it contains the detail about your sales record so far.??The foremost question that one needs to be certain about is that whether you are looking out for a in-day trading or in for long-term trading.
The important thing here is to understand that no small group , government or individual may interfere with the production of money, either accelerating or slowing their growth. Of course this has its disadvantages, because the lack of support from a financial institution , there is no way to complain about errors deposit or some kind of fraud , because transactions are final, and once the transfer is not made there is nothing you can do.??Other limitations also range from faulty software, crashes to scams related to this trading bot. Despite it all, it is worth your time and money because if able to set the right parameters can be your handy tool for profitable trading.
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.??Highlighting the fact that the exchange fees can vary from minute to minute that is all the more based on the change regarding rates.??Picking an exchange is the gateway to the crypto globe.…