Crypto trading involves exchanging one cryptocurrency for another, buying and selling coins, and exchanging fiat money into crypto.
There are now more then 1500+ cryptocurrencies in existence to trade with.
Many of these coins can only be acquired using a major cryptocurrency such as Bitcoin or Ethereum.
Because of this, you will need to perform trades on an exchange if you want to have ICO (initial coin offerings) or expand your portfolio.
As well as buying crypto using fiat currency, an exchange is where you can store funds and exchange for other coins and tokens.
BINANCE Biggest exchange in terms of volume. Trade 45+ cryptocurrencies. Provides a wallet for your digital funds and has its own crypto currency called Binance Coin. Also has support program to help traders. Read more
POLONIEX Provides trading on over 100 pairs, margin trading and lending on a desktop and app. Poloniex is the only exchange to trade and redeem ICO ATOMS. Also 5% of all Ripple is bought on Poloniex exchange. Read more
GDAX (COINBASE) Launched in 2016, GDAX stands for Global Digital Asset Exchange. The creators of GDAX are part of the same company that runs Coinbase, which is now one of the largest exchange brokers in the world! Read more
HITBTC Europe based multi-currency exchange since 2013. It supports over 400 cryptocurrencies, including all the major crypto-assets. Provides various good features like an API that third parties can use on their sites. Read more
KRAKEN Offers a variety of fiat to Bitcoin pairs like JPY, EUR, GBP and USD. Volume is decent especially on the JPY BTC pair. They also has popular crypto to crypto pairs including litecoin and dogecoin. Read more
CEX.IO Provides an advanced order matching alghoritm, a high liquidity order book and a variety of trading tools. Intuitive interface and trading possibilities will empower your trading and help your portfolio grow. Read more
BITTREX Offering a big number of trading pairs, including all the major coins such as Darkcoin, Nextcoin, Litecoin, NeuCoin and Ethereum. Trading fees are 0.25% with no reductions. Withdrawals are completely free. Read more
GEMINI A platform where investors can trade between BTC and ETH. It’s a tool for more advanced traders, but it’s also has clean, easy-to-use interface that even a total beginner can quickly get the hang of. Read more
GEKKO A free to use, open source crypto trading bot. Offers around 130 indicators. Provides support for 16 exchanges, including Bitfinex, Bitstamp and Poloniex. Runs on Windows, Linux and macOS. Read more
BTCROBOT A trading bot that offers up to 150% ROI. Requires a broker account with Metatrader4, wich provides an MT4 broker package, including the bot, available for both Windows and IOS. Read more
CRYPTOTRADER Cloud-based trading bot. No software required as native servers host your bots. Supports major exchanges: Bitfinex, Bitstamp, Poloniex, Coinbase, Kraken, Bittrex, OKCoin, Binance and CEX.IO. Read more
HAASBOT An automated trading platform that requires users to sign up to the website, install, subscribe to a license and then begin to use different bots. integrates with leading exchanges and supports over 500 pairs. Read more
GUNBOT Crypto trading software that works on Poloniex and other exchanges. Has numerous strategies built into it; Bollinger Bands, Gain, Step Gain, PingPong, 1000Trades and Supergun. Read more
CRYPTOHOPPER Compatible with eight leading exchanges. Includes Binance, Coinbase Pro, Bittrex, Bitfinex, and KuCoin. Sufficient levels of liquidity to achieve its pre-programmed objectives – 24 hours per day. Read more
COINMARKETCAP Provides various date on 1000+ cryptocurrency coins, such as their price, available supply, trade volume over last 24 hours or market capitalization. The statistics are updated every 5 minutes. Read more
BITCOIN CONVERTOR Easy-to-use currency exchange converter. Supports hundreds of world currencies as well as Ethereum, Bitcoin, Steem, Storj, Litecoin, Dogecoin and many more crypto currencies. allows you to convert any amount to and from bitcoin with your preferred world currencies. Read more
TRADINGVIEW Online stock-picking software and screener for beginners and experienced traders. Offers cloud-based charting tools for research and gives users the ability to share and collaborate with other active traders. Read more
FREE SIGNALS A leading bitcoin casino with hundreds of games. They offer non-stop promotions and always adding new games. Read more
1. KNOW YOURSELF AND DEFINE RISK CAREFULLY
To profit in trading, you must first recognize and analyze your own financial risks and goals before engaging in cryptocurrency trading. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to trading are not excessive or lacking.
6. STUDY YOUR SUCCESS AND FAILURE
It begins with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not.
2. PLAN YOUR GOALS AND STICK TO IT
Define a time frame and a plan for your trading career. What constitutes failure, what would be defined as success? How much time will u spend on trading?
Do you aim at financial independence, or aim to generate extra income?
7. ONLY DO WHAT YOU UNDERSTAND
Do not trade on the basis of hearsay or rumors. And do not act unless you are confident that you understand both the positive consequences, and the adverse results that may result from opening a position.
3. CHOSE YOUR EXCHANGE PLATFORM CAREFULLY
What kind of exchange are you aiming for? Does the trading software suit your expectations? How efficient is customer service? These must be carefully scrutinised before beginning to trade. Refer to the Trading Platforms above to find a reliable source that suits your trading style.
8. DO NOT ADD TO A LOSING POSITION
Nobody knows where a currency pair will be heading during the next few hours, days, or even weeks. A position in the red can be allowed to survive on its own in accordance with the initial plan, but adding to it can never be an advisable practice.
4. START TRADING WITH SMALL AMOUNTS
Begin with small sums, and low leverage, while adding up to your account as it generates profits. There is no justification to the idea that a larger account will allow greater profits. There is no point in pumping money to an account that is burning cash.
9. AUTOMATE TRADING AS MUCH AS POSSIBLE
One of the best courses of action would be the automation of trading choices and trader behavior. Make sure that your responses to similar situations and trading scenarios are themselves similar in nature. In other words, don’t improvise!
5. RESTRAIN YOUR EMOTIONS
Greed, excitement, euphoria, panic or fear should have no place in a traders calculations. By reducing our risk, we can be calm enough to realize our long term goals, reducing the impact of emotions on our trading choices.
10. DONT GIVE UP TO EASY
It is highly unlikely that you become a trading genius overnight, so it is only sensible to await the ripening of your skills, and the development of your talents before giving up.