Crypto market is growing in popularity with every passing day. Bitcoin came to life in 2009. The start of currency was dull. People were buying BTC for pennies. However, now the poster child of cryptocurrency is worth $35K. The buzz around it is attracting investors in the crypto market.
Crypto industry is different from the traditional forex market. It has fewer number of investors. As a result, the market price is highly dependent on buying/selling pattern of individuals. This brings capricious swings into play.
The volatile nature of the crypto market makes trading a bane to bear. But, you can make the whole experience smooth with the use of trading bot.
Crypto trading bot is a piece of software that executes trades on users' behalf. It reads and analyses data to make a decision at the right moment. A bot comes with pre-existing strategies. Nevertheless, you can tweak and re-align these strategies as well. There are multiple trading bots available in the market. Digiebot is one of them.
Trading bots can ameliorate your portfolio. Bots, like digiebot, have stood the test of time and proved their muscle against unpredictable market movements. Benefits of crypto trading bots are listed below for you to consider.
Humans can get tired, but bots will never. Crypto trading bots operate 24/7 without human assistance. They will work consistently and take care of your portfolio even when you are asleep.
The cloud-based bots don't need a running system to operate. They can work tirelessly on the internet.
Emotions are overwhelming in the trading business. Even the best of us can become a victim of fear or greed at some point. These emotions severely impact your judgment. Often in bearish trends, crypto traders change their strategy multiple times out of fear of losing big. This causes more harm than good.
Crypto trading bots don't have any emotions. They make calculated decisions based on available data. Thus, bots stick to the strategy and try to make as much profit as they can.
Crypto trading bots are efficient. They take only microseconds in executing trades. It is very unlikely for an opportunity to escape the bot. The swift action of bot thus beats most of the humans at the punch.
Manual trading can never match the speed of automated trading. Hence, if you want to do fast trade then invest in bot.
Crypto trading bots are time-saving solutions. You cannot sit in front of the computer all day, every day. On the other hand, trading bot can work continuously. It doesn't require sleep or food. You can just set-up the bot and get back to living your life. Your portfolio will be taken care of by the automated trading bot.
Starting the crypto trading journey from scratch is an arduous process. You first need to learn different jargons. After that, you will have to understand the processes. Lastly, you will have to master a different trading strategy. All of this is a long process. Many traders abandon halfway due to frustration. However, the trading bot gives you the liberty to start trading within hours. You only need to set-up the bot and add funds. Rest of the job will be done by bot on its own.
Cryptocurrency trading business is thriving these days. Crypto has the support of individual investors as well as institutions. The total market value of crypto reached 1 Trillion USD in the past week for the first time in history. There is huge potential for earning profit through the trade of digital currency. While trading is hard, if you are pursuing it as side-hustle, you can employ a trading bot to do the hard labour for you.
Buy the best crypto trading bot to start your journey today.
Crypto trading is a lucrative business in today's world. There are a plethora of rags to riches stories based on trading. However, like any other rewarding work, trading requires blood, sweat, and tears. You cannot master the art of successful trading overnight.
In this blog, we will discuss 5 essential tips for newbie traders who are about to enter into the crypto market.
Cryptocurrency is notorious for being extremely volatile. The price of all famous currencies is eruptive. The market crashes are also frequent. Crypto traders are live on the edge all the time. But, it doesn't mean that they can't earn a profit.
Crypto traders have to be vigilant with their choices of currencies, platforms, and strategies. They need to exhibit a certain degree of emotional discipline. There are individuals making money from successful trades every day. Below are some of the tips with the help of which you can do the same.
The expert crypto traders didn't become experts overnight. They taught themselves the art of making the right move. Cryptocurrency is inexplicable to the layman. A TV anchor once described crypto as 'everything you don't know about money coupled with everything you don't know about technology'. This is true to a great extent. For an average person, the concepts of blockchain, bitcoin, and defi are hard to digest. But, if you're willing to learn then there are a variety of resources available to you. For instance, the binance academy has an excellent collection of materials for the general public. You can check out their site for understanding crypto technologies, trading indicators, and jargons of the crypto trading.
If you have made up your mind about trading crypto then it is time to choose a trading platform. There are hundreds of crypto exchanges available on the internet where you can buy/sell crypto. Choose the platform wisely, ask yourself three questions: is it safe? do I understand how it works? does it provide the services which I want? The best trading platform will be transparent about its terms and conditions. It will have a range of services that users could utilize. Furthermore, it will have an interactive interface for users to navigate.
Newbie traders come with a lot of enthusiasm which backfires sometimes. Remember, a few good trades don't make you an expert crypto trader. So don't over-invest.
In the crypto market threat of sudden market-crash is imminent. Besides, there are other sorts of risk factors as well. Investment should be made while keeping the likelihood of loss in mind.
New traders are advised to invest only that which they are willing to lose. This way if all hell breaks loose the trader still has a prospect of getting back on feet. People who take loans or invest their insurance money in trading ar the first one to run the other way when clouds of a bear market appear.
The dreadful stories of losing everything over-night in the crypto market should deter everyone from over-investing.
The trading strategy is vital in crypto trading. Don't go without a plan. Have a loud and clear reason for entering and exiting a trade. The strategy may seem like a hurdle in the short-term. However, it is crucial for long term success. With well-thought-out moves, there are less foolish attempts on your part. Plus, you can effectively hedge risk.
You can find the best crypto trading strategies on the internet. Moreover, you can consult expert crypto traders and ask for their advice. Every crypto trader has a unique psyche, skill and portfolio. You will learn what is best, after practising with a wide range of strategies.
Fear and greed are two significant emotions in trading markets. All crypto trader experiences them at some point. In order to become a successful trader, you have to rise above.
If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.
For becoming a part of the successful traders' community, you have to practice what 90% of traders aren't. That's 'emotional discipline'. Two things which can help you in developing emotional discipline are: investing a reasonable amount and following a strategy.
Put a stop loss on all trading endeavours. It limits the deprivation. Lastly, get help from professionals if you get overwhelmed by the market.
The above mentioned five tips can help new traders set their course right. The big profits might not come immediately but the right amount of effort will bring fruits in the long run. So start your trading journey today. Get updates on market trends, develop a strategy, and enter the trading game to make the best moves.
Markets do two things. They either go up or down. In financial lingo, the upward trend is called bullish. Whereas, the downward movement is called bearish. The ups and downs are part of life. Same is the case in financial markets. Oftentimes, investors get too anxious when the red lines start appearing on charts. Nonetheless, not all price declines are signs of bearish trends.
In this article, we will discuss what the bear trend is and how to deal with it in the long run.
A bear market is when prices of the assets start to fall more than 20 percent within a period of two months according to NASDAQ Composite or any other market index. The cryptocurrency market is relatively new. Therefore, the percentage to mark a bearish trend is not clearly defined. Crypto market is extremely volatile so price moves drastically.
Traders anxiously wait for the bull market. It comes with a lot of potential for winning big. Nevertheless, Bull markets are followed by bear markets. It is just how the financial arena works. So far, there have been 25 bear markets for stocks since 1928. On average once every 3.9 years. Bull markets are also likely to come after the bear attacks. Hence, there is nothing to fear from a bearish trend.
Bear markets are inevitable. You should always be prepared for mitigating losses and making gains from bear markets. Here are a few tips for doing that:
The first tip for all crypto traders is, 'protect what you earn'. It is absolutely necessary as your hard-earned cash shouldn't go down the drain. By using stop-loss order the traders limit the losses. It sets a lower limit on price-decline. If the price reaches that point then the coin is sold. Generally, stop-loss is fixed at a price point lower than the buying price. So the trader does suffer from a bad trade. But, in the absence of a stop-loss, the price could plunge further causing a bigger loss than originally expected.
A trader can also use trailing stop-loss to earn more value. In trailing stop-loss, a lower limit for the price is set below the current market value. Therefore, if the coins had a significant rise following the time you bought it then you can keep some of the profit.
When the clouds of a bear market are over the horizon, it’s time to take action. You will be in trouble without stop-loss. Therefore, it only makes sense to gain whatever you can from a declining market before it is too late.
You have to set a target for yourself at which you are going to make a profit. This is also known as an ‘exit strategy’. As a crypto trader, your intention is to make money through buying and selling. When you buy a coin, keep in mind that you have to sell it at a certain point. Some people get greedy and when the market starts moving up. They get excited for more and more. However, what goes up eventually starts coming down. Set a clear target point at which you are going to sell the coin.
Meanwhile, keep visiting the charts to see the resistance and support points. It is a good practice to set a ‘take-profit’ target beneath the resistance point. This way you can take your earning before any fluctuation happens. Furthermore, don’t beat yourself if the price keeps surging after you have exited. Crypto markets are unpredictable. You make the best decision with the data at hand. Afterward, hard luck is just a part of the process. So move quickly to the next trade and do your best.
Trading is much easier now than it was ten years ago. Today we have hundreds of tools available to make our trading journey smoother. On the flip side, making use of the wrong tools can cause a crippling blow to the portfolio. Use a tool that has a good reputation and is popular among the trading community.
The first essential tool for a trader is algorithmic trading software or bot. Algorithmic software are computer programs that come with pre-existing strategies. They can execute trades on your behalf. Bots, as we know, are much faster at executing trades and reading signals than humans. They stay productive 24/7. A trading bot is also great at managing stop-loss and taking profit at the right points. So, people who employ bots have an edge over the rest of us.
To become more efficient, traders can also use technical indicators and gauge the market themselves. Moving Averages and Bollinger Bands are known to be popular indicators in this regard.
Buying the dip may be a great idea when the price is fluctuating at a minimal level. However, if the bearish trend is visible then don’t go for buying the dip. Because, the price of a coin may never go back to the previous point. Hence, either sell the coins at a minimum profit or wait.
In a bearish rally, the coin prices break the support level consistently. You never know where the support may be regained. Leave ‘buy-the-dip’ strategy for the bull market and take profit where you can.
Sometimes taking a day off is the best strategy. Breaks are oftentimes underrated. You need them for mental peace and positive attitude. Leave the computer screen for some time when things become too overwhelming.
Remember, your goal is to trade well, not to trade often.
You don’t have to trade all the time. For clarity and view from the hilltop, come with a fresh mind.
Another thing to mention here is that while investing in crypto market consider the possibility of market swinging in unfortunate directions. Don’t over-invest or put-in the money that you can’t afford to lose. This will be helpful in remaining sane during the bear attack.
Surviving a bear market is more of a mental game. Have strong resolve and do the best thing you can to control the damage. The trading community is huge and you are never alone. From whales to small traders all suffer from the bearish trends. You should keep in touch with others and learn from the community. It will be beneficial in the long run when you adopt trading as a full-time job.
Cryptocurrency is digital money that exists only in virtual space. It is flouted as money of the future and rightfully so.
Paper money is losing its appeal because of central governments devaluing it through printing more. Cryptocurrency gives liberty to its holders. Its bull rally is ongoing with price hitting new highs ever other days. If you are looking for investing in cryptocurrencies then right now is the best time to do so.
In this article, we will discuss the top 5 cryptocurrencies best-suited for investment in 2021.
There are more than 7000 cryptocurrencies available in the market. All of them have unique features and are useful in particular cases. For instance, XRP is excellent when it comes to international-level value transfer. On the other hand, Ether is good for use on the Ethereum ledger. Hence, when investing in crypto, be sure of how you are going to use them.
The experience with currencies is also a big factor in deciding which one to choose. Some crypto-coins are complex. This might cause trouble for novice users. However, an experienced person can invest in the same and take benefits.
Succinctly put, the two things you should consider while picking a digital coin for investment are the nature of the asset and your experience with it. Resultantly, your choice will be more informed and fruitful in the long run.
Now let’s take a look at the cryptocurrencies likely to explode in 2021.
Bitcoin is the king of cryptocurrencies. It is the top listed coin on the CoinMarketCap.
Satoshi Nakamoto (an unknown person) introduced it as a peer-to-peer value transfer system over the internet. Bitcoin was worth pennies when it was first introduced. But, with time people realized its use. The investment in bitcoin has increased steadily ever since.
At the time of this writing, bitcoin is at $36,851. It has crossed $42K target in the past few weeks. This is a sign of BTC’s promising future in 2021. Besides, there are going to be 21 million bitcoin ever. Hence, the devaluation of the currency is less likely in future.
There is a large community of bitcoin users. As a result, this asset has high liquidity. You can sell your BTC on any exchange at any time. So, if you want to invest in crypto then bitcoin will be the best choice in 2021.
Ethereum is the second most widely known decentralized platform. It is popular among developers for the building of decentralized apps (dAPPs). Ether(ETH) is the native currency of the Ethereum platform.
In terms of value, ETH is second only to Bitcoin. Many in the crypto community call it the digital oil. It has been single-handedly responsible for the growth of blockchain by many folds. Developers can write codes and create smart contracts to run their businesses on a decentralized ledger. It cuts costs of legal fees for making contracts and also lets the contractors verify the deal swiftly.
During 2020, ETH price hit the $1,395 mark, the second highest since its inception. This has been a show of muscle in the face of a declining global economy due to the coronavirus pandemic. Additionally, the liquidity of ETH has increased as more and more people invest in it every day.
Ethereum has recently launched ETH 2.0. This upgrade will likely make the price explode in the coming year. So, we suggest investment in Ethereum in 2021.
Bitcoin Cash is at the third number among cryptocurrencies according to price. BCH was launched in 2017. It is a branch of original BTC with increased scalability. In 2018, BCH went to the moon following bitcoin. It is the fifth-largest cryptocurrency according to market cap.
Bitcoin Cash is precisely bitcoin with many more benefits. It is a lot cheaper than bitcoin and you can transfer it with a minimum fee. The creators of BCH are interested in upgrading it with the incorporation of smart contracts.
BCH has a lot to offer in the future. Its price has kept fluctuating in 2020 with the highest point of $500 reached in February.
The expert traders and whales of the crypto industry are giving a lot of attention to BCH. You can easily transfer your coin into money in the market. Therefore, BCH is among our list of favorable investments in 2021. Currently, it is sitting at $525.
LTC is another low priced crypto coin. It is following the suit of bitcoin in bull rally. Litecoin is a light version of bitcoin with fast transaction speed. The liquidity of litecoin is also very high.
Litecoin has one of the largest market caps. The supply will be limited to 84 million coins. You can easily mine a block on the litecoin blockchain. It only takes two minutes. Besides, the reward for the addition of a block is 25 LTC.
Experts consider litecoin as the best cryptocurrency for investment this year. As one of the best altcoin, litecoin will follow the price surge of bitcoin. Therefore, LTC should be your choice in 2021.
BNB or Binance Coin is the native coin of popular crypto exchange, Binance. It is a ‘utility coin’ offered by the exchange to its users. The individuals using Binance can get benefits in terms of a lower fee if they use BNB on exchange during trade and transactions.
BNB is among the top 10 coins on the CoinMarketCap. The price of the coin has been highly volatile. Nonetheless, it increased in value three times in the last year. With more and more people investing in BNB, the liquidity of the coin is increasing. Additionally, the trade volume of BNB is also growing at a fast pace.
If you want to have a diverse portfolio then BNB is an excellent choice. Furthermore, BNB has a vast community of users so it will be easy to trade. BNB is definitely one of the currencies that you need to observe in 2021.
Cryptocurrencies are here to stay. In 2021 the market saturation will increase with more investors coming in. While this scenario will make the competition tougher, however, investing in the good currencies will give you an edge over others.
The cryptocurrency market is bullish at present. This brings in a lot of optimism. Nevertheless, bear in mind that once you invest in crypto, you are in for everything. The market might not look as promising in the future as it does now. Diversifying portfolios and investing in the right currencies is all you can do in the face of uncertainty. This article is our two cents in guiding you in the right direction.