Who Is a Crypto Trader? | Learn How to Become One!
Would you like to become a pro in trading and make a fortune on it? Then continue reading the article, and we’ll try to help you!
As you know, the Internet has provided a lot of opportunities to earn money online. With the appearance of the blockchain, the list of possible sources of income has become even wider.
More and more people nowadays are ready to invest in cryptocurrencies. However, to successfully earn on the crypto market, you need to have relevant knowledge. So, let us share some with you.
Crypto Trading for Beginners | Definition & Main Aspects!
What is crypto trading? It is the act of buying and selling crypto via an exchange. The main purpose of crypto trading is to buy as low as possible and to sell higher to make a profit. It is one of the fundamental ways to earn with cryptocurrency.
You can’t start successful crypto trading from scratch. Once you decide to invest in cryptocurrency trading, you should prepare a knowledge base.
For successful trading, you must learn the basic skills:
🔹Analyze the cryptocurrency and the volume of its trading;
🔹Use charts and codes;
🔹Conclude sales and purchase transactions;
🔹Track trading history;
🔹Follow and understand the market.
Trading Can Be Different!
There are several types of crypto trading:
💰Scalping. It’s about making constant profits & very quick trades.
💰Day Trading. It’s like the previous one, but the trades are made within a day.
💰Range Trading. Market prices often move horizontally, making entry into a market difficult. The concept of range trading relies on the fact that markets fluctuate within a range during sideways trends.
💰Intraday Trading. Essentially, this is day trading, but it allows holding positions over more than one day.
💰Swing Trading. It’s picking an entry and a target and holding the position until your target is hit or other exit conditions are met.
💰Position Trading. It’s about picking a position, short or long, for some period. 💰Investing. It’s about owning an asset as a store of value to increase this value over time.
The time and your personal experience will help you to choose the style of trading that is more likely to you.
Before You Become a Crypto Trader | Few Things to Keep in Mind
Firstly, you should know who a crypto trader is. It is someone who aims to profit from short-term price changes in the cryptocurrency market.
Let’s imagine that you’ve decided to become a trader. Here are several things you need to know before you start:
📍Face the risks. It’s not a secret that the crypto market is really volatile. Sometimes you can lose more than you thought.
📍Analyze the market. It is one of the most important things when you start trading and during the whole trading process. When using technical analysis, it is possible to identify and forecast the trends and patterns that occur in the value changes of a currency.
📍DYOR. Doing your own research is an important step for everyone: a crypto beginner and a professional trader.
📍Stay up to date. Being a part of the community and following news can help you to know the market trends. To be successful, you need to use the information as a tool.
📍Market, Limits & Stop Losses order types. These are the instruments that will help users to prevent mistakes and losing trades.
📍Keep calm. Success is a time-consuming process, especially in the crypto world. Control your emotions and do everything with patience. Making mistakes is expected, so give yourself time.
Important Steps to Achieve Success
Now that you’re ready to start, follow these instructions:
1️⃣ Choose the reliable & safe exchange platform you’d like to trade in. It can be CEX (centralized exchange) or DEX (decentralized exchange). Connect your wallet to start using it. Learn the difference on Biswap’s Education Hub:
2️⃣ Install the crypto wallet and connect it to the platform you’ve chosen, like biswap.org — a place of lucrative and unique offers for crypto traders. Remember that there are custodial & non-custodial wallets.
Here you can find out how to connect easily to Biswap DEX:
3️⃣Decide what crypto to invest in. Do your own research before taking action.
4️⃣Decide which trading style/strategy you’d like to follow.
5️⃣Learn how to place trades and read charts.
After all of these steps, you can decide where and what crypto to swap. Head to the next chapter to know why trading on Biswap is profitable.
Biswap — The Perfect Place to Start!
To begin with, Biswap is a decentralized exchange platform. If you’re a newcomer, it is the place to make your journey comfortable and straightforward. The user-friendly design is excellent for understanding.
Exchange with the lowest fee of 0.2% & become a Trading Master!
Tap here to start ⬇️
Don’t know what to do?
Visit Biswap’s Education Hub and find a guide!
There you can also find lots of crypto educational articles!
BSW Trading on The Leading CEX Binance
To those who don’t know, BSW is a progressive native token of Biswap. It is a BEP-20 token launched on the BNB Chain network. The main function of the token is to incentivize the liquidity provision to the Biswap platform.
It is listed on the top CEX Binance, which means that you can explore the best possibilities of it there:
⭐️Trade BSW against TOP crypto like BTC, BUSD, BNB and others;
⭐️Explore trading pairs with BSW like BSW/BNB, BSW/USDT, BSW/ETH etc.
Are you all set for the new experience?
Go here to try everything 👉https://bit.ly/3SSDWXS
📍 You can trade BSW on other CEXs where it’s listed!
“Meet BSW Token & Its Extensive Utilities” — https://bit.ly/3OkrBrT
Trading can be quite tricky at the beginning, but if you know the main aspects and tools, you’re ready for everything. This brief article will help with understanding the key moments of crypto trading and who the crypto trader is.
Remember that doing research and analysis is a must!
Do your best & become a Trader King with Biswap!
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