Cryptocurrency trading is not easy, especially to beginners, not only security risks but also the volatility of the crypto market: the prices may soar or dropdown at ANY time! So, what makes a successful crypto trader? First, always be in mind that there is a relationship between risk and reward. The greater the risk you take, the greater your reward will be if you come out on top. Secondly, keep track of community discussion and news events since industry news and rumors has powerful effects price of cryptocurrencies. Being a crypto trader means to have active social accounts (such as Facebook, Twitter or Telegram ) in the Blockchain community in order to take advantage of the power of information. Last but not at least, rely on technology! As mentioned at the beginning, crypto trading is much relating to the variety and volatility of the prices. Each crypto exchange has its value for specific cryptocurrencies, and this may be due to multiple reasons. The successful crypto trader is the one who takes advantage of the price difference by buying cheap cryptocurrency from one exchange and selling it with higher price on another IMMEDIATELY. A cryptocurrency arbitrage tool is exactly what you need. Thanks to the development of technology, there are so many Crypto Arbitrage tools that help investors profit from pricing discrepancies. Below is a list of the best Crypto Arbitrage tools that I have ever tried: 1. Cfolo (FREE)
Pros:
• Totally free
• Various integrated exchanges
• Easy to use
• Easily find the best exchange for your chosen token pairs
• Easy profit calculator for calculating profit if you don’t want to transfer coin too many times Cons:
• No suggestions for the best pair. Traders must look based on the token they know
• Only English supported 2. Bitsgap Pros:
• There are other products to choose from besides Arbitrage
• Be able to be traded directly to the exchanges Cons:
• Expensive monthly fees
• Limited number of exchanges and trading pairs
Hopefully, 3 things above have given you a foundation for success as a cryptocurrency trader. Though, the most important thing, in my opinion, is to keep your self -control: to understand your feeling, especially your fear and greed. Remember that: bad trades are parts of the game; success simply means you win more than you lose.
Thank you very much for your post! I am new to crypto and planning to invest some of my savings into it in 2021. I understand that now it’s not the best time to buy because it’s going up in price every day so I will wait when it goes down so I can buy it and just wait for it to raise in price again. Maybe I will finally be able to get a Cyprus investor visa finally, I want to move there to live with family.
That is absolutely right! I have started trading in cryptos recently, and I will follow all that you have said to take better control of trading for the future.
hi Brendor. thanks for reading my text. It has been written totally relying on my own experience. But, cfolo is a must-try-tool ! anyway, keep yourself be updated the crypto news is also a good way !
Hope to hear good news from you. Happy new year to you n your family !
Much thanks for your nice words ! Lucky to you ! and I really hope to be updated your good news on crypto trading ! Have a healthy and wealthy year ahead !
Not only cryptos infact for every trading commodity the 3 most important things would be knowledge, practicing your knowledge with different set of strategies and your consistency.
Is this your business? Since I am writing and sharing my own opinion about crypto trading. I feel free and happy to share it, and you can like it or not, I dont care
As other crypto traders, like you, I join many crypto forums. and there is no reason for being shamed about it !
Thanks for sharing the information. I have been into forex trading for quite a long time and have been planning to make long-term investments in bitcoin. Your post has shown me a direction.
I have been a crypto trader before I entered the forex market. I used to think that forex trading is similar to crypto trading. But it is not. I had to apply different strategies in the forex market. It took me another year to start making profit through forex trading. But it has been absolutely worth it.
