Making Money With Cryptocurrency Trading
Trading Cryptocurrencies is one of the fastest way of making huge money on the internet. I am going to help you get started or be aware of this money making opportunity with this guide. There are so many cryptocurrencies out there right now and new ones are coming into the market every new month. These cryptos are volatile, meaning that the exchange rate goes up and down. The volatility of these cryptocurrencies has enabled us to make so much money trading it with other cryptocurrencies.
Currently Bitcoin, Ethereum, Bitcoin cash are among the most popular cryptocurrencies out there. By the way for those still in dark of what cryptocurrency means, here is a brief explanation.
“A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.” Wikipedia
So since the invention of Cryptos there has being demand for exchanging it from one type to another. This demand in exchanges created room for trading Cryptos. Right now you can buy bitcoins with your credit card and exchange the bitcoins to Ethereum or any Crypto of your choice. Also you can sell your Ethereum for Paypal funds and so on. The exchange possibility is endless and there is so much money to be made in this market. Now to start trading you have to know certain things like how to read crypto market charts in order to know the market history and so on.
You can learn how to read the market charts and other trading basics on youtube. The most difficult part of trading is to know the specific cryptocurrency to trade on. Many don’t reveal this secret but I will be telling you the one you can trade on and make good profits. Bear in mind that the unit of any cryptocurrency is called Satoshi and the more amount you invest to buy the units the more profit you will make when you sell it (when the Satoshi price becomes higher than the amount you bought it then you can sell).
There are many cryptocurrency trading platforms online namely Kucoin, Binance, Coinbase but I will be using Bittrex for this guide. First you will have to sign up there and verify your account with any identity proof they request from you. You will have a unique bitcoin wallet inside your account to which you can send bitcoin. You can buy bitcoin with your credit card through the widget below.
Once the bitcoin arrives your Bittrex wallet, you will be trading bitcoin to OKcash cryptocurrency and vice versa. Before you trade you must have studied the market chart history and see the rate at which it changes. Now you can buy okcash at the current amount for an example 0.00000380 (per satoshi/unit cost) with your bitcoin and then you will have to resell the okcash at a higher amount for an example 0.00000425 to 0.00000470 (per satoshi/unit cost) to bitcoin. You have to be monitoring the chart and unit cost constantly because in trading changes happen fast. The profit you make depends on the difference between the cost of buying okcash satoshi when it was lower and the cost when selling it when it goes up.
Start out with small investment and learn or master the process before you invest huge amount. This trading can make you thousands of dollars within short time if you master the steps. The market always keep on rising and falling so the potential of making money is endless. Also note that you can keep your Okcash for days till the rate goes up. Once there is an increase more than the amount you bought it then resell it and repeat the process again. With cryptocurrency trading you will earn a lot of money while working minimal time.
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