Cryptocurrency trading is a financial tool. It helps in making money out of fluctuating prices of digital assets. There are more than 1,500 cryptocurrencies in the world right now. For new investors, it is often difficult to decide which currencies to choose. Therefore, traders are always on the lookout for free trading courses online.
Crypto is a volatile market. The price of assets can surge or plunge within hours. This happens because crypto is still not a mainstream industry in many parts of the world. Countries and governments frequently try to regulate this growing industry. Thus, you never know what to expect. Nonetheless, professionals can teach you how to stay informed on happenings in the crypto market.
Digiebot is your go-to place when it comes to learning about cryptocurrency. We offer free trading courses online to crypto traders. Before we share the details of our trading classes, let’s look at what are free/paid trading courses.
If you are interested in trading, you will have hundreds of such courses online. However, not every course is good for you. There are a few paid trading courses available online for free, while others are free trading courses for online audiences. In order to make your choice easier, here are the characteristics of the best day trading courses for beginners.
Learning trading from a quack will cause more harm than good. When selecting a trading course, research the instructors. Check how many years of experience they have in trading. People with vast experience are particularly aware of working strategies. They can teach you specific skills for dealing with the different market conditions. Thus free trading courses online with experienced instructors are best for you.
Transparency builds trust. A good trading course will provide the name of resources that instructors consult. This helps students in checking the resources themselves and see how the tools are applying in the learning. Moreover, this list of resources can help the attendees of the course after the course has ended. Hence, the best trading resources provide a lifelong learning opportunity to the students.
People who opt for the trading course are oftentimes already into the trading business. They can get stuck on a concept while trying to put lessons to work in day trading. In this scenario, approaching instructors becomes necessary for clarification and understanding. Best free trading courses online make it easier for students to communicate with teachers. Multiple communication channels are made functional to facilitate teacher’s direct communication with students.
All types of trading markets like the stock market, forex market, and crypto market have an element of risk. Besides, some of the trading strategies hold more risks than others. For instance, advanced algorithmic trading is touted as the fastest method of amplifying your returns. Nonetheless, it is very risky for inexperienced traders. So the providers of the best day trading courses online will be honest about the risks associated with different tips and tricks.
Traders differentiate from each other in terms of experience, use of resources, and trading methods. The best trading courses are tailor-made for a specific group of traders. For instance, the day trading courses for beginners and advanced level traders have different course material to meet the needs of students taking these courses.
You will find two types of trading courses online: free courses and paid courses.
These trading courses teach the basics of trading to users online for free. The trading services providers like Coinbase etc are often involved in teaching such courses. You can search for free courses on the website of trading exchanges and trading brokers. Choose the ones that are simple and according to your needs.
Crypto is a new industry. Therefore, the organizations operating in this sphere are enthusiastic about creating crypto awareness free of cost.
Paid Trading Courses are available for free on sites like Coursera, Udemy, and edx. You can audit these courses and start
Here is our free trading course online available to traders around the world. Learn to trade in the cryptocurrency market with the efficient tools and data at hand.
Digiebot has put together a great team for helping beginners and advanced-level crypto traders with free trading courses online. Here is what you will learn in these courses.
Paid trading courses for free teach trading with the perspective of the forex market. That’s why the lessons are often not relevant to the crypto market. Crypto is a new market. It has its own triggers and patterns. Therefore, our instructors teach students the following ways of analyzing the market:
You can gauge the direction of the market by looking at the above three factors.
Crypto market swings in unfortunate directions without a prior warning. Our trading professionals have experienced many such swings. As a result, they have come up with some strategies that help in managing the risks in the crypto market. The following strategies are taught for money management in the crypto market:
You can keep your assets safe during bear market swings with money management.
Some trading indicators from the forex market work in crypto as well. However, crypto has its own indicators. We teach the basic and advanced level indicators that can help traders in making the best out of their trades.
Our free trading course for online audiences also centers around algorithmic trading. Algorithmic trading is a kind of trading where algorithmic/automated trading software takes trades on the user’s behalf. It is a smart, efficient, and cost-effective method of trading.
In Digiebot’s zoom classes, we discuss which algorithmic trading software to choose and why.
There are hundreds of coins in the crypto market. Moreover, new coin projects are released every other day. This scenario confuses the traders with a minimal budget. They don’t know which coins will have potential in the future. Our instructors analyze the coin projects and guide students on where to put their money.
At the end of the trading classes, our instructors give free coupons for trading software to students. Free coupons are the best way for kickstarting your trading journey on trading platforms.
If you are interested in taking free trading courses online with professional traders then sign up on this page. Our teachers have more than 40 years of collective experience in trading. You will gain specific knowledge regarding crypto markets at the end of these courses.
A smart person learns from his mistakes, a real wise one learns from the mistakes of others.
Learn from professional traders in free trading courses online as well as paid trading courses online for free. Our trading courses for beginners will equip you with the expertise necessary for success in crypto trading.
The cryptocurrency revolution led by bitcoin is changing the world of finance. There are thousands of crypto tokens doing functions that were previously done by fiat currencies. Crypto tokens, smart contracts, and blockchain together have formed decentralized finance or DeFi.
DeFi users can access financial services anywhere at any time. There are no intermediaries like banks involved in this system. DeFi aims at digitization of finance with verification of transactions at the center of the system. Users are receivers as well as the contributor of the services.
The meaning of decentralized finance or deFi is that there is no central authority controlling the financial system. A user can send, lend or borrow money without having to trust a bank. You only need to have a digital device with an internet connection.
Decentralization also gives you freedom. You are no longer dependent on the government or central banks. The banking holidays, country-wide protests, or any other such events cannot cease the provision of financial services.
DeFi also eliminates the factor of human error. All services are executed according to the smart contract which serves as a piece of agreement delineating all the terms and conditions. Let’s simplify the term.
A smart contract is a piece of code. It executes itself when certain conditions are met. It works under the ‘if/then’ condition. You can purchase your asset from an unknown seller under the aegis of the smart contract.
Smart contracts are beneficial in the following ways.
In some sense Bitcoin is the pioneer of DeFi. Bitcoin is the first-ever digital currency. It is used as an exchange of value just like fiat currencies. You can send bitcoin on a distributed ledger. It neither requires trust nor the identification of the person sending/receiving money.
Bitcoin has provided the basic framework for the functioning of deFi. Ethereum, on the other hand, has taken the game o the next level.
Let's understand centralized finance first and see how decentralized finance will take its place.
In centralized finance, banks are financial intermediaries. They play the role of a trusted third party. If you want to send money to your cousin in another country, you go to the bank. If you want to borrow money, you go to the bank. And if you want to invest money for your children, you then go to the bank.
In short, in a centralized system, we are extremely dependent on banks. There is nothing much we can do if banks blow up our money. Mind you such things have happened in the past. For example, during the 1930s Great Depression, Banking System failed in America. Millions of Americans lost their saving which they put in the banks.
In centralized Finance, there is a system of trust. You trust the central authorities like governments and banks with your money. However, there are multiple risks attached with putting all the power in hands of central authorities.
For example, if you have all your savings in dollars. The government decides to print more money and devalues the dollar. Now you have lost money due to governmental decisions but you are helpless here. Nevertheless, there are multiple other risks attached as well.
Decentralized Finance has come to solve the problems of centralized finance. It creates an open and permissionless financial system where individuals are in control of their financial activities.
In DeFi, Smart contracts take the central stage instead of banks. Smart contracts contain terms and conditions for the execution of the transactional activity. Both parties can read the terms and conditions of smart contracts. You can create your own smart contract as well.
DeFi has a system of Verification instead of trust. You can verify the coded terms and conditions in smart contracts. In addition, you also write your own smart contracts. DeFI is not controlled by any central authority. So there is no fear of losing your money to governmental decisions, financial collapses, or stock market downfall.
The DeFi system has no censorship. You can enter into it and leave it without anyone stopping you.
Ethereum blockchain is used for building smart contracts. The native token of the Ethereum blockchain is Ether (ETH). You use your ether coins to get a loan or lend money in the defi system.
The growth of the DeFi network is quantified by how much ether is locked into it.
Like the banking system, you can do lending in defi as well. Let's say you want to earn interest on your ether funds. You stack them in a Smart contract on the AAVE platform and in turn receive C Tokens (which represent your original assets) as well as interest. So now you have full custody of your tokens and you have also lent them. You can keep track of where your tokens are being used. Moreover, You can withdraw them at any time.
Read More: Token Economy
Your ether is an asset that you can put in the smart contract and borrow some money on it. The borrowed money is in coins like Tether or other DeFi Tokens.
In DeFi, you need to put in an extra amount of assets to borrow a certain amount of money. Let’s say you want to borrow $500 of Tether. Then you need to put in $800 worth of Ether. Your stacked money is used to pay interest to the lender
Decentralized Finance depends on stablecoins. Examples of stablecoins include DAI, Tether, and USD coin. These coins are pegged to US dollars. This essentially means that the price of these coins is always $1. You can easily trade cryptocurrency in the DeFi world using these coins. Trading with Stable coins makes you less dependent on fiat currency or your local currencies.
Decentralized Finance intends to perform all the functions which centralized finance is performing without the censorship and role of intermediaries. It is the next big thing in the crypto world. You can also become a part of DeFi without any difficulty. To learn more about decentralized finance keep visiting our blog.
The Cryptocurrency Market is still new. It has been around only for like 13 years. In the early years no one took crypto seriously. But now as the value of bitcoin and other digital currencies is rising, everyone wants to take advantage of this new hype. The value of bitcoin has risen more than 50% just in the last month.
With the popularity of bitcoin, the threat of getting scammed in crypto is also growing. There are plenty of ways in which scammers lure new crypto investors in, and rob them of their hard earned money. According to the Federal Trade Commision of the United States, nearly 7,000 people lost more than 80 million dollars in crypto scam investments from October 2020 to march 2021. These people were scammed by multiple methods.
In this blog we will discuss the top eight ways in which crypto scammers can reach you and try to steal your money. Beware and take the necessary steps to ensure safety of your investments.
In a recent survey by Cryptovantage of more than 1,021 American crypto owners, 32% said that they became a prey of scammers in the past. The biggest share of scams was in the form of emails.
The common method of scammers is that they send malware attachments or links to a fake website in the email. As soon as you open the attachment or click on the link, your device is hacked by the scammer.
Sometimes the scam emails may look like legitimate emails from a crypto exchange asking for your login information. As soon as you provide the information, the scammers log into your wallet and steal all your assets.
In order to protect yourself from email scams, never click on the random links or attachments that you receive from unknown email addresses. If an email from your wallet exchange asks for logins, double check the email address for any changes. Moreover, you can also contact the exchange to confirm whether they really sent you the email for generating login information or is it just a scammer trying to gain access into your account.
Imposter websites are fake websites that look like a real one. These websites are set up to scam people by taking their login credentials for the original sites. Oftentimes impostor websites are copying the famous exchanges sites like Coinbase and Binance.
In order to protect yourself from impostor sites, carefully check the URL of the exchange site when visiting. If you see a ‘not secure’ phrase on the left side of the URL then do not provide your personal information. Additionally, if you are a frequent visitor of an exchange site then bookmark it for safe visit. Manually typing the URL can land you on an impostor page.
If you are investing in crypto and using a new exchange then go through their reviews. Do a background check to see their legitimacy and how they keep your funds.
Rug pull is a form of ‘exit scams’. You must have heard of Bitconnect which turned out to be a rug pull. The platform promised the investors 1% daily returns on their investments. People had to swap their bitcoin for Bitconnect Coin (BCC). Investors abandoned the project after 2 years of launch, taking away bitcoin worth 2 billion dollars. The value of Bitconnect Coin plunged 92%. This is a classic example of rug pull where creators left the project and took investors money.
As new coin projects are launched in crypto space every other day, the threat of Rug pull is always imminent. Before investing your money in a project do research on its creators and what they are offering. If the returns are too good to be true then it is a scam. You can see that Bitconnect promoters promised 1% Scam every day without any risk. So this sounded Phishy from the start. Hence, you can protect yourselves against rugpulls by not letting your money go into ‘too good to be true’ projects.
Ponzi schemes are popular investment fraud. There are no real or legitimate business models in ponzi schemes. New investors are paid with the money of old investors. When there are no more new investors then the returns end as well. There have been many ponzi schemes in the crypto market as well.
The first and foremost sign of a Ponzi scheme is that there is no sustainable business model. Secondly, creators of the project or business promise consistent profits with no risks. Lastly, people running the scheme are unlicensed individuals and there is not enough data regarding their whereabouts.
You can protect yourself against Ponzi Scheme by asking more questions. Get to know every little detail about the project before investing. Read the legal documents and check the business model to see how your returns are being generated.
Pump and Dump is a classic scheme in which opinion leaders or social media celebs do huge marketing of a project to drive its value. When the value reaches a point where they want to take profit they just sell their holdings. As a result, the value of coins quickly declines.
The pump and dumps are common in the crypto market. Many individuals and groups do it frequently to earn high returns on their investments.Coins often surge without their fundamentals being noteworthy in any sense.
You can spot the pump and dump easily by looking at who is supporting the coin? If there are individuals or people who have done pump and dump before then don’t invest in the coin.
Another litmus test is to see if there is a particular reason for the price increase of the coin? For instance, the price of Ether coin increased after the London Hard fork because it made the Ethereum network better. However, if the coin price all of sudden surges after discussion of Social platforms regarding it then this is classic pump and dump.
Fake ICOs are also a very common method of scamming innocent individuals. In the crypto market, ICO or initial coin offerings are a method of launching new coins. It’s a method of fund raising for the project. Oftentimes you can purchase coins for less than $1 on its ICO. if the project turns out to be a success then the coin gains value garnering high profits for its initial investors.
Scammers know that investors are always on the lookout for new ICOs. So, they create fake ICO with false promises. People purchase the tokens and at the end the project goes bust and project owners run away with the money.
Protecting yourself against such ICOs is possible through learning about what makes a coin successful. Ask the distributors of tokens about their project. Check if the regulators will accept the coin as an asset. Sometimes the tokens end up being security which can cause their value to drop. Be smart with your investments.
Social Media is a powerful tool when it comes to impact on Crypto Market. Oftentimes the high tweet volume for a currency can drive its value up. This power corrupts some people and they make fake profiles to scam users.
The method of social media scammers is simple. They create fake profiles that look like profiles of Authoritative People. They would then tell people to send them crypto for high rewards. You will see many fake profiles on twitter pretending to be Elon Musk asking people to send them bitcoin.
Last year, a group of hackers hacked into the profiles of famous individuals like Bill Gates, Jeff Bezos and others. A message was posted from their profiles that bitcoin sent to the given BTC address will be doubled.
Many people fell for this scam and sent their holdings to the address and never saw their coins return.
You can protect yourself against such scams by doing simple research. Check if the profiles are real. Also, if the promises being made are too unreal then don’t fall for it. Let’s be honest, no one gives you something for free. Be it Jeff Bezos. Plus, if they are asking you to send money first then it is definitely a scam. Protecting your assets is your responsibility first. So don’t hand them over to someone else willingly.
Ransomware attacks is a hacking attempt to collect ransom in crypto. The ransomware attackers reach the system of their target and lock the person out from accessing their important data. In order to give back the access they ask for ransom in bitcoin or other cryptocurrencies.
Ransomware attacks are lethal. Big corporations often suffer from these. Collecting ransom in crypto keeps the identity of the hacker protected. Crypto addresses are anonymous. You cannot track who is receiving the money.
Protect yourself from ransomware attacks by keeping your digital accounts protected with strong passwords and two-factor authentications. Don’t download unlicensed software from the internet or plugin malware-ridden drives to your system. Use Anti-Virus software to keep your system safe and sound.
So we have discussed the common crypto scams which include Email Scams, Imposter Websites, Rug Pull, Ponzi Schemes, Fake ICOs, Social Media Scams and Ransomware attacks. All of them are interlinked with one another in some sense. For example, email scams often involve the link to impostor sites that can contain fake ICOs. DeFi Rug pulls, Ponzi schemes and Pump and Dump all involve unreal return promises. Lastly, ransomware attacks are caused by clicking on phishy links or downloading threatening software.
Crypto is the wild wild west of the Internet. You can protect yourself here only by being extra vigilant. Don’t be lazy with your investments. Learn about the coin projects and what they entail. Don’t trust celebrities, armchair experts, or anyone else. You can take help from experts but in the end use your own research to make the right purchase.