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
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. Prices also can vary as per according to between exchanges. Along with the checking of the exchange fees and expenses, you should understand the volume requirements. Some of the trade have the condition that you purchase a minimum amount while others do not.Well the scale of the profit which you will make with the $20.31 profit will hence really pockets you ~$15.22. If you will be going to purchase the Ether with a debit card, you would be getting into the paid a markup as well as fees.
There are more than 1500 crypto coins and it’s very hard to find next big coin. One way you can make your work easier is by using Reddit Crypto related subreddits to find which next big coin is community going to back up and then do your own research to see if it can return some good profit. Profit trailer has become well famous for the returns that it has provided to its users. It has accomplished this by way of a mixture of its friendly interface, and the amazing community surrounding it. Well in terms of making the money, the very first thing which you do need to keep in midn is that hardly around 25% of all of your profits get paid to the IRS when your taxes are due. So imagine for a second that you do buy 3 ether for $333.33 and then sell them as they would be hitting the timeline of $340.00.
Have knowledge of the platform
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. Various exchanges permit short orders. This permits one to place bets on either side of Bitcoins price movements.
CEX.IO is offering away the services of the security and the cross platform trading. It has high fees and margin trading timeline. The fascinating part of this companies trading bot is that it is available 24X7, 365 days a year for traders.
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. 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.
Feel free to ask any question in comment and we will get back to you as soon as we can! This is achieved by testing of linked work (which are shown as "confirmation"). We shall see that this work is done by mining bitcoins in exchange for a reward in bitcoins. Now that you have selected the coins to invest in, you need to find an entry point for your investment. Technical analysis has forever been the top strategy for finding an entry point when investing in financial assets.…