Trading cryptocurrencies on a cryptocurrency exchange

[Finger Geek]

Cryptocurrency trading has become an increasingly popular way to earn money. Unlike traditional trading instruments such as stocks or forex, cryptocurrencies are traded 24 hours a day, 7 days a week.

In order to trade, you need to know how to do so on a cryptocurrency exchange. You can see how the price of Bitcoin fluctuates over time and even look at charts to predict future price movements for different coins like Ethereum, Litecoin, and others as well as other trading pairs such as BTC/ETH or BTC/LTC or many others!

Many traders start trading cryptocurrencies without knowing the basics. This is unfortunate, as it can be a good way to make a living. Despite risks, traders should know how to trade on an exchange to increase their chances of success.

Trading cryptocurrency requires technical knowledge and understanding of the market trends in order to predict the future prices of cryptocurrencies and identify the right opportunities for trades at the right time with little or no risk involved so that you can make money from your trades effectively over the long run and increase your returns from trading while minimizing losses by keeping track of all expenses related to this business activity and reduce taxes on profits if applicable, while not forgetting that cryptocurrencies are not legal tender in most countries and may fall under anti-money laundering regulations.

 

[coin456]

PLease DYOR( Do your own research ) before investing in cryptocurrencies

 

[Shaf]

From experience and information I've gathered from others who trade cryptocurrency, knowledge is your best friend and possibly, even more important than capital to trade with.
This recent bear run saw me rekt, and I've understood the importance of that.

If you want to start, use capital you'll be comfortable loosing as long as you consider it "learning fees". This way, you can have hands-on experience while accumulating knowledge. It's also important to have a plan, a trading strategy and a stopping point where you cut your losses and move on.

Concerning exchanges to trade on, Binance is the best so far, in terms of ease of navigation, trading fess and customer service. However,, it's rare to find low cap gems there which mostly are on Kucoi, Gate, FTX and other decentralized exchanges, particularly Pancakeswap. If you want to be a long term holder, it's best to transfer your holdings to a wallet for safe keeping, moving it back to an exchange whenever you want to trade.