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
This is the location in the dashboard that provides the information about the currencies you are interested and followed. If a currency is on this list it indicates the most credible list of currencies to be bought.??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.But still for the beginners, they do come up with so many options too. It is ideal for the beginners and there is no doubt about this fact.
Many exchanges provide only a handful of coins, the most famous being Ethereum and Bitcoin. There are only a handful of exchanges that provide a big range of coins. A more diverse choice of coins accessible is better as it provides you more choices of coins to buy.??Before proceeding to invest, analyse the trading volume of the coin to have an idea of its liquidification or activity.??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.
Consider Using Sharpe ratio
Some enthusiasts on Wall Street had even joined together to raise awareness for bitcoin. The Digital Currency Council opened its doors in Manhattan in September 2014 to offer consulting, trading and accreditation to financial professionals.??Amazing place in the dashboard for many people as it contains the detail about your sales record so far.
Research and study well from historical charts and trends before trading. As much as study of previous charts is important so is charting your own money course is to make rightful investment decisions. Alongside always make sure to stay updated on current news affair.??Always buy your new crypto coins when they are at their dip to make most out of it and Never ever buy them when they are approaching their peak price. It???s obvious but a lot of people still do this mistake of buying coins at their peak and then end up losing all the money.
Altcoins can lose their value over time. Sometimes they can bleed out very fast which can make you broke. Only hold those coins which have a very good community backup like XRP, Montero, and LTC.??It is difficult to predict the future of crypto coins in 2018 because even the Bitcoin is down by 35% right now but still we will try to tell you the best performing coins in 2018 in which you should invest and try to hold these coins for a long period of time to avoid any loss on your investment.
Even though this whole concept is still in its initial phases of developments, can be sometimes misleading as whether to block your money on it or not. Today???s market has hundreds of these form of currency with famous ones being Bitcoin, Ethereum, Altcoins etc that it makes becomes difficult among newbies to make the right choice among it.??On top of some of the purposes in buying trade crypto currency with Credit Card, we have come up with the avoidance of some of the technical issues in the ripple. Some of them are about hash rates as well as blocks and even about the nodes.??This returns to the criptodivisa a finite, quantifiable and impossible either increase or decrease its flow, as some governments to control the price of its currency. Every 4 years, obtaining Bitcoins halved.…