Techiexpert.com
No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
No Result
View All Result
Techiexpert.com
No Result
View All Result

How to Trade Crypto and Commodities in 2020

Srikanth by Srikanth
December 24, 2019
in Tech news
0
Trading 2020
10
SHARES
125
VIEWS
Share on FacebookShare on Twitter

Cryptocurrency trading began after Bitcoin came into the limelight. Early entrants made handsome profits after the major cryptos significantly increased their value, led by the famous Bitcoin. since then, cryptocurrency prices have been unstable in rising and falling depending on traders’ moods in the crypto market.

At first, cryptocurrencies were simply digital codes with no real corresponding physical value. Their value was and still is determined by those dealing with the coins. You can have a coin rise sharply in value today depending on how traders perceive it, and have it drop flat losing its entire value the next day.Crypto/platinum and a few other crypto tokens are changing the idea of cryptocurrencies altogether. You can now have commodities that can be pegged to real physical value like gold and platinum.

This idea will certainly change the mode of crypto trading in 2020. Unlike a few years ago when the price of crypto rose depending on the euphoria in the market without anything of value, crypto trading will now be determined by the usefulness as well as demand and supply of their corresponding value. You can now make a follow up of real trade to decide the crypto commodities to buy or sell. Here are some more tips on how to trade crypto in the coming year. Keep in mind that trading is not for the soft-hearted, and be ready for anything. You can hit it big today, and lose everything just as quickly.

Learn Crypto Basics

Before you even think of investing your hard-earned money in this industry, make sure you know at least the basics of what crypto trading and crypto is all about. Understand what a cryptocurrency is a trading platform, an exchange, a wallet, and how all that works together in this particular business. Get knowledge on which factors affect crypto markets to determine the price of the various cryptocurrencies. With this knowledge, you can then proceed to try out the market, but with limited funds.

Know Different Types of Trades

In the cryptocurrency market, there are two main ways you can trade crypto. You can buy these digital coins from various exchanges, and keep them as your own, expecting that they will rise in price at a later date. In this case, you will need a wallet to store your coins safely, since most exchanges are always at risk of getting hacked. Get to understand how different wallets work so that you can determine the most appropriate one to use based on the coins you buy. This method is also referred to as speculating.

The second method of trading cryptocurrencies is through CFDs or contracts for difference. CFD is a form of derivative trading that will require you to go through a CFD broker. In this type of trading, you enter into a contractual agreement, where you get to bet against the behavior of the coin or coins you are trading. In this case, you either go long or short depending on the direction you presume the price of the coin will go. It is also this type of trading, that allows you to leverage your account, where you can stake more than the funds you have deposited. Just know that as much as you stand to gain a lot through this option, you can lose equally as much if not more.

Don’t Put All Your Eggs in One Basket

The crypto market is extremely volatile. Volatility means that there is a sharp surge in prices over a short period. You can have a coin trading at about $300 now, then find it at $500 a few hours later or lower. You need to know how to use this aspect of volatility to your advantage. A good way is balancing the two methods of crypto trading, where you buy and keep some coins to sell later, and use some of the funds trading CFDs. You should also not focus on one particular coin, just because it seems to be the popular one at that particular time. A good way is identifying several active coins, then reading the performance history and monitoring their current performance. Buy a mix of this coin to cushion yourself from major loses. Do not be greedy. Try and make small gains through this balancing and you will eventually hit it big. The trick here is patience and growing your portfolio. Many traders lose out the first few months of trading since they enter the trading based on euphoria instead of taking their time to study and gauge the market.

Tags: CryptoCurrency
Share4Tweet2Share1Pin2

Popular this week

  • Renesas Expands IoT Footprint with Sequans Acquisition

    Renesas Expands IoT Footprint with Sequans Acquisition

    2346 shares
    Share 938 Tweet 586
  • Y2Mate.com 2023: How to Download Videos and Audios

    279 shares
    Share 112 Tweet 70
  • Top 10 Omegle Alternatives you might like

    346 shares
    Share 138 Tweet 87
  • What is windows modules installer ? How to Enable/Disable

    132 shares
    Share 53 Tweet 33
  • Does God Play Dice? – A Quantum Perspective

    55 shares
    Share 22 Tweet 14
  • Top 10 YouTube to MP3 Converter Platforms for Free

    103 shares
    Share 41 Tweet 26

Popular Sections On Techiexpert

Artificial Intelligence Big Data Blockchain Blogging Cloud Computing Data Analytics How to Internet Of Things Machine Learning Marketing Trends Social Media Startup news Tech news

Latest Stories on Techiexpert

Evolution of Drone Technologies and Adoption in India

Evolution of Drone Technologies and Adoption in India
Share4Tweet3Share1Pin1

Microsoft Unveils Unified AI Assistant ‘Copilot’ for Windows 11

Microsoft Unveils Unified AI Assistant 'Copilot' for Windows 11
Share4Tweet3Share1Pin1

Kerala Startup Mission’s ‘Huddle Global 2023’ Set to Ignite Thiruvananthapuram in November

Kerala Startup Mission's 'Huddle Global 2023' Set to Ignite Thiruvananthapuram in November
Share4Tweet3Share1Pin1
  • Privacy Policy
  • About Us
  • Contact us
  • Cookie Policy
  • Write For Us

© 2016-2022 All Rights Reserved

No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain

© 2016-2022 All Rights Reserved

Cookie Law Notice
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.