June 11, 2019
Crypto Trading 101: Tools, Applications & Strategies to Help You
One of the most beautiful aspects of cryptocurrency trading is that it offers a chance to all people of all walks of life to engage in wealth building opportunities without the usual limits of traditional financial institutions. You can actually start your investment with a meager amount and follow the best practices to grow your digital assets until your bucket overflows!
Although the potential of growing your digital currency portfolio is extremely huge, there are also great risks associated with trading virtual coins. With a market that is volatile, you could lose a big chunk of your assets in a single second (and that's what we do not like to happen!). In the same way, the volatility of cryptocurrency markets is also what makes it a beautiful opportunity for building your portfolio.
Getting into day trading can prove to be a worthwhile and exciting wealth building activity. However, finding whippy markets that go up and down in a short period of time, buying coins when they have dropped their prices, and immediately selling them when they have climbed up the price charts can also take so much of our time and eventually become stressful.
Thankfully, there are ways to make our crypto trading life a lot easier. Here are only some of the friendliest tools and strategies that you can bring along with you at the start of your journey:
Crypto Exchange Platform
Trade happens right at the cryptocurrency exchange platform. It is important to register an account to your chosen exchange in order to place buy and sell orders of different coins.
Remember that different cryptocurrency exchanges also have different rules and policies. Some exchanges would also have varying markets. One coin market may be available in one exchange but unavailable in another.
Trading Bot Integration
As we all know, bots are technological innovations that were made to make human lives easier. True to its term, crypto trading bots help us go on with our trades without having to spend exceedingly huge amounts of time in front of our computer screens as we wait for the right time and the right price level.
The Base Strategy
The Base Strategy is only one of the guides that you can follow in the conduct of your trades. It works by identifying trading bases and determining your buying or selling action depending on the support and resistance levels. In following the base strategy, you essentially need to understand the dynamics of crypto exchange markets.
Traders who use the base strategy wait for the resistance level or the highest price before selling their coins. As panic selling happens, they wait for the coin price level to drop to the bottom until it reaches the support level or the base level. This is when traders would buy a particular coin in their relatively lowest rates.
Your digital assets or the collection of your cryptocurrencies shall be monitored accordingly to ensure that you are still doing well with your trades. Without a properly functioning portfolio manager, it would be very difficult to track your gains and losses.
These are only four of the things that could help make crypto trading successful! But do you know that there is one application that can actually make cryptocurrency trading a lot more convenient for you? That's Crypto Base Scanner!
With Crypto Base Scanner, you can actually do all the important stuff of trading in only one application.
Trading on Your Exchange – For as long as you have already registered an account with a particular cryptocurrency exchange platform and have connected the API to your Crypto Base Scanner desktop application, then you can directly place your buy and sell orders on the CBS dashboard without having to visit the exchange on your browsers.
Currently, CBS supports Bittrex, Binance, HitBTC, Huobi, Kraken, Polionex, BitMEX, and KuCoin exchanges. More crypto exchange platforms will be added soon.
Automatic Trading with Your Bot – Crypto Base Scanner supports the integration of bots such as Zignaly, Nefertiti, 3commas, and Cryptohopper. By getting both the software services of Crypto Base Scanner and any of these trading bots, you can make your trading life a lot easier. Simply set your trading strategy and you can actually sit back and relax. Trading can happen even when you sleep because the CBS algorithms work 24/7, thus your bots will surely receive the necessary signals any time of the day.
Trade using the Base Strategy – A highly unique feature of Crypto Base Scanner is its ability to automatically analyze markets using the base strategy or the QFL strategy. When users subscribe to the base scanner plan, they can enjoy advanced features such as receiving custom and immediate alerts when prices drop a certain percentage from the base level. This can give them an advantage by being notified of profitable opportunities to enter the market.
Keep Track of All Your Digital Coins Using One Portfolio Manager – Crypto Base Scanner has a portfolio manager where you can easily keep track of all your cryptocurrencies in one place. By having this tool, you can effectively make the right decisions given a complete insight into how you are doing with your trades.
Start your crypto trading journey with the right mindset and only the best tools and applications. Get your subscription now and make every second count!