Trading
To trade cryptocurrencies it is important to pick the right trading strategy and platform. As it is personal what strategy suits you, we recommend browsing youtube tutorials and try different methods with a small ammount of money until you find the right strategy for you.
Complexity
Some strategies can be fairly simple to follow, but consistently making a profit is very hard to do. Most active traders lose money or end up with less profit compared to if they held their initial assets. This makes finding a profitable strategy that suits you often very complex.
Time
The time spent differs per strategy, but most trading strategies require a fair amount of invested time.
Trading
Complexity
Time
Risk
Profitability
Risk
Most new traders lose money while trading cryptocurrencies. This makes it very important to work on the right trading strategy for you with a small amount of money until you are confident that you got the strategy under control and can make a profit. Even then external factors can negatively influence trading strategies, thus it is recommended to never trade with your full investment.
Profitability
Although a lot of traders lose money, those that manage the right strategies can make a very good profit. Consistancy is key in on compounding profits.
Trading platforms
For active trading it is important to consider a few factors in a crypto platform. First is the trading fees, if they are too high most of your profit (or added loss) go towards the platform, Binance offers low trading fees with the possibility to lower them by holding BNB. Second it is important that the platform has enough trading pairs. Coinbase for instance has fewer trading pairs and has higher fees. Another thing to consider are certain services. Binance has had some regulatory issues in certain countries that forbids users from specific countries to trade their futures market, KuCoin has not had this issue yet.
EarnCrypts is working on adding more information on different trading platforms and adding examples of trading strategies you can try.
