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how to trade cryptocurrency with forex

The Internet has given us a lot of new opportunities for earning money. I have been studying this field for a long time, I left my office job and do not depend on anyone, since I work for myself. My blog contains information about the best ways to earn passive and active income online, as well as tips and tricks for investing wisely.

Since the advent of blockchain technology, the number of promising and profitable ways to generate income has increased significantly. We are talking about cryptocurrencies that have already enriched many people, making them Bitcoin millionaires.

REASONS FOR THE GROWING POPULARITY OF INVESTING IN CRYPTOCURRENCIES
Every year, investments in cryptocurrencies become more and more promising. Investors from all over the world prefer cryptocurrencies and replace them with other currency pairs, indices, stocks and other classic trading assets that are subject to other risks associated with geopolitical conflicts and financial and economic crises.

At the moment, you don't need to have a billionaire's fortune to invest in cryptocurrency assets. Absolutely everyone can earn money on them.

But remember that this area is subject to increased risks that can harm your financial condition. However, even novice investors are ready to overcome their fears and start investing. The success stories of ordinary people like you and me serve as inspiration.

To earn money by buying / selling real cryptocurrencies on specialized exchanges, you need to have a fairly large amount of money. Not everyone can afford it. But few people know that investing is not the only way to make money in the cryptocurrency industry.

There is such a thing as crypto trading. It allows you to earn money on the price difference of cryptocurrencies. Today I will talk about what it is and tell you some secrets and tips that will help you avoid the most common and common mistakes of beginners.

CRYPTO TRADING - WHAT IT IS
This is an equally profitable way to earn money on cryptocurrencies after investing. But it should be understood that it is slightly different from the usual trading of currency pairs on the Forex market and has its own unique features.

In Forex, the main motto of success is "Buy cheap, sell more expensive". The profit will be calculated as the difference between the initial and final price of the transaction. Token trading has a similar essence.

But trading cryptocurrencies has its own characteristics. And the main one is increased volatility. It is both an advantage and a disadvantage of this method of earning money. Forex traders can sometimes wait years for the price to rise or fall by thousands of percent. This requires a real collapse, a crisis, a natural disaster. Well, such events don't happen often. In the stock market, stock quotes move calmly and moderately. If, again, the company does not go bankrupt or a global scandal does not occur within its walls. In both cases, high profit implied in the long run. As for crypto trading, it can be achieved within one trading day!

WHERE TO START FOR A BEGINNER
First of all, you need to understand for yourself that from the very first days it is absolutely impossible to become successful in this business and make a profit on a stable basis. To make profitable trades, you need to be able to conduct market analysis. And this is completely unrealistic without the presence of certain knowledge and skills that you need to independently obtain and consolidate in practice.

What you need for successful crypto trading:

perform market analysis and be able to determine the level of trading volume at a given time;
be able to read charts and work with them, understand quotes and their values;
make transactions in the broker's terminal;
know when to close a trade. That is, at the moment when the maximum is squeezed out of the current state of the market.
Before choosing a cryptocurrency for trading, you need to evaluate its potential and prospects, taking into account the following parameters::

what it was created for, how it will be useful to consumers, and whether it will remain in demand in the future;
the speed of transactions and the principle of working with its tokens;
how professional are developers, find out on the Internet about their future developments and plans;
evaluate the level of supply and demand in the market, whether the chosen cryptocurrency will be useful and whether it will remain competitive in the future.

All these factors, at least at the initial stage, will help determine the level of future capitalization of the cryptocurrency.

Studying charts based on the history of quotes will allow you to understand how liquid an asset is, whether it is in demand, how quickly its value changes over a certain period of time, and so on.

Evaluating all of the above, you will make your own conclusion about the profitability of a digital asset for subsequent crypto trading. I recommend comparing your forecasts with the opinions of analysts and experts. Since this area is now very much in demand, you can find market reviews on any financial portal.

You can only trade on the Forex currency market on weekdays from Monday to Friday. Well, the cryptocurrency market is open for earnings around the clock in 24/7 mode! This is its main advantage. Cryptocurrency exchanges are open even on Saturdays and Sundays, as well as on public holidays, when all other exchanges are closed.

But it is better to trade during the American trading session.

WAYS TO MAKE MONEY ON CRYPTO TRADING
Not everyone knows that there are several ways to earn money using cryptocurrencies:

mining operations;
investing;
cryptotrading.
The first one is not suitable for beginners because of the complex technical component and the need to purchase expensive equipment. The second one is associated with high risks and the presence of a large start-up capital.

The best way to earn income for beginners is trading. If with the second method you need to wait for the price of coins to grow, then you can earn money on trading not only on growth, but also by opening deals for a fall through a special broker terminal.

In addition, not all of the existing robots on the market are suitable for trading on the cryptocurrency market. It has its own unique features.
If you already have a ready-made trading strategy, you can transfer it to the robot's algorithm without having to learn the basics of programming. It is enough to set up all the necessary parameters in a special window and select indicators, thanks to which the program will analyze the market using special technical tools.

ADVANTAGES AND DISADVANTAGES OF CRYPTO TRADING
At the end of my review, I would like to talk about the pros and cons of cryptocurrency trading.

Positive:

due to the high volatility in this sector, it is possible to make large profits in a short period of time;
to start earning money, you don't have to be a millionaire at all, modern brokers allow you to open a trading account starting from $ 100;
high protection of personal data and ensuring the security of trades;
large selection of cryptocurrency trading pairs;
make deals online around the clock 7 days a week;
new cryptocurrencies regularly appear, each of which has every chance to repeat the success of Bitcoin.
Minuses:

to make profitable trades, you must have at least basic knowledge in the field of market analysis;
you need to constantly keep up to date with news and events from the cryptocurrency sector;
Bitcoin has become more stable in its dynamics, so to get an impressive income, you need to look for other cryptocurrencies from less well-known ones.
CONCLUSION
Crypto Trading opens up a lot of new opportunities for earning money in addition to classic investments. In addition, this is a more accessible way for beginners to earn money. But to get a stable income, be prepared for the fact that you will have to actively study and learn the basics of technical and fundamental analysis at first.




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