Cryptocurrencies are an interesting concept. You can use them to purchase goods, gamble and invest. Investing can be a real money maker. There are people trade crypto right now and are making money off it. It is possible to turn a profit.
In the following section I'm going to go over some basic terms and kind of show you what its like. I have added a few images below of some various currencies that you might want to trade. These go up and down frequently so you can expect to get a return based on when you invest and you're expectations for the future trading price. The term risk assessment gets thrown around a lot. This of course falls under risk management which basically means protecting your investment. Avoiding falling trading rates requires constant attention to detail, and maybe a little luck.
So first off you need something to trade with. Either you want to buy BTC or some other currency and trade with that. Another option is to use your mining profits to trade, which is what I do. This allows you to learn the basics without really losing anything at all. So use your PC to mine a small amount of lets say XMR(Monero) or BCN(ByteCoin), then take that and transfer it into a trading account of your choice. I usually use mining software tailor made for each currency but if you know nothing about that, you could easily go to minergate.com and download their software to get started mining easily.
Then once you have your chosen currency we can start to talk about trading. In my previous post I talked about a website that listed all the available exchanges, if you haven't chosen one yet check out that post. I will also throw in a few links to articles and videos so you can as much information as possible.
Okay, so once you get your crypto into an exchange you can then look at some of the options you have. You can either start trading based on the carts, and look at investing in dumps and selling when it jumps or pumps. That's how most people do it, and it's very important that you commit to it once you've bought into a currency. Basically select a currency that you want to trade and watch it constantly.
So first off you need something to trade with. Either you want to buy BTC or some other currency and trade with that. Another option is to use your mining profits to trade, which is what I do. This allows you to learn the basics without really losing anything at all. So use your PC to mine a small amount of lets say XMR(Monero) or BCN(ByteCoin), then take that and transfer it into a trading account of your choice. I usually use mining software tailor made for each currency but if you know nothing about that, you could easily go to minergate.com and download their software to get started mining easily.
Then once you have your chosen currency we can start to talk about trading. In my previous post I talked about a website that listed all the available exchanges, if you haven't chosen one yet check out that post. I will also throw in a few links to articles and videos so you can as much information as possible.
Okay, so once you get your crypto into an exchange you can then look at some of the options you have. You can either start trading based on the carts, and look at investing in dumps and selling when it jumps or pumps. That's how most people do it, and it's very important that you commit to it once you've bought into a currency. Basically select a currency that you want to trade and watch it constantly.
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| BCN/ByteCoin rise |
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| XMR/Monero rise |
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| LTC/LiteCoin drop |
