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 Bitcoin and Crypto Trading, 5 steps to trading cryptocurrency.

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TSgomydata
post Oct 4 2021, 03:31 PM, updated 3y ago

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Many investors like to trade cryptocurrency because it’s an extremely volatile asset. If you can time the market right, trading crypto can give you much higher returns than traditional investments.

Cryptocurrency traders often have one of two goals: to accumulate Bitcoin or make a profit in USD. In a crypto bull market, it’s pretty easy for your portfolio to increase in USD value, but it’s more challenging for Bitcoin value to increase. To track your portfolio’s Bitcoin value, you can trade altcoins against Bitcoin on exchanges.

By actively trading your cryptocurrency, you risk losing your crypto to the market. Since cryptocurrency prices are so volatile, it’s not uncommon for traders to lose money quickly trading cryptocurrencies. This is why so many crypto enthusiasts just HODL their Bitcoin.

Pros and Cons of Investing in Cryptocurrencies
Investors are attracted to cryptocurrency due to its high volatility. It’s not uncommon for a cryptocurrency’s price to fluctuate over 10% in a single day. This is great if you’re looking for high returns, but if you’re a risk-averse investor then investing in cryptocurrency may not be for you.

Cryptocurrency Trading Steps

Step 1: sign up a cryptocurrency brokerage


There are centralise and decentralise exchange. .All 3 of these options offer a simple user interface and a variety of altcoins to choose from.

To make an account, you’ll need to provide your crypto brokerage with personal identification information, similarly to opening an account with a stock brokerage. Some common information you need to provide when setting up your account includes your Social Security number, address, date of birth and email address.

some crypto exchange include
huobi, luno, binance, uniswap, pancakeswap and more (PM to get 50% discount on trading fees)


Step 2: Fund your account with ringgit

You only have 2 way to fund your account in ringgit. Either you buy it from luno wallet or buy bitcoin from some famous p2p platform like localbitcoin, huobi , binance etc

Step 3: Pick a crypto to invest in.

Most active cryptocurrency traders allocate most of their capital to Bitcoin and Ethereum. These cryptos move more predictably than smaller altcoins, so trading with technical indicators can be easier.

Many crypto traders allocate a portion of their capital to smaller altcoins. Although small mid-market cap cryptos are riskier than large-market cap cryptos, they offer higher upside potential. Many small altcoins have risen over 1,000% in a matter of months, making them attractive investments for risk-tolerant investors.

Step 4: Choose a strategy.

There are a plethora of trading indicators to choose from, and most traders take multiple factors into consideration when buying and selling cryptocurrency. some of the famous is macd, rsi, ema, moving average, elliot wave, and so on.


Step 5: Store your cryptocurrency.

either you can store in official wallet, paper wallet or cold wallet.

If you want to know how, vote this post. More will be share weekly or join group for top crypto to pick weekly, 4-6 trading signals weekly.



This post has been edited by gomydata: Oct 4 2021, 03:53 PM
TSgomydata
post Oct 4 2021, 03:42 PM

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This group is to learn how to trading on cryptocurrencies.
ITSBATUED
post Oct 22 2021, 10:51 AM

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TS, I wanted to start trading crypto however im not even literate with crypto lingo. Mind to share your experience upon starting crypto?

TSgomydata
post Oct 23 2021, 09:31 PM

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QUOTE(ITSBATUED @ Oct 22 2021, 11:51 AM)
TS, I wanted to start trading crypto however im not even literate with crypto lingo. Mind to share your experience upon starting crypto?
*
To learn trading cryptocurrency. You just need learn 3 things.

1. You need to know how to use cryptocurrency wallet
2. protect them from being hack or loss password (which we call private key)
3. To transfer crypto, and receive crypto

There are cold wallet and hot wallet. We talk about that in the future.

How to get your crypto wallet

For a beginner, I recommend you to use a regulated crypto wallet. Which is LUNO wallet, you can download from the play store.

user posted image

After download, make sure you verified you are the owner of the wallet first.

Follow the instruction to update your front and back identity card.

Then, before you buy bitcoin. Use a reward code, so you will get RM 25 of bitcoin when you buy RM 250 of bitcoin.


user posted image


How to get your password?


Do not use easy password like Iloveyou, protonsaga, yourname , ic or birthday.

Use password with more than 16 character minimum with at least 2 BIG CAPITAL LETTER, 2 NUMBER, 2 SYMBOL AND 2 small letter.

Write down your password and keep properly.

This is the best wallet for beginners.

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STEP 2

Once you familiar with this wallet, understand how to buy bitcoin with ringgit, and sell bitcoin to ringgit.
Then, second step.




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Step 3
Learn how to withdraw your bitcoin, and deposit to others exchanger or wallet.


WARNING, If you don't know how better whatsapp me for a guide.
Your bitcoin could be loss if you have typo mistake.
[COLOR=red]

Whatsapp me, I send you a video tutorial. You just follow step by step will do.


------------------------------------------

i NOT SURE THIS post will be banned by lowyat or not. Even though is a tutorial . Better you print out for reference.


TSgomydata
post Oct 23 2021, 09:32 PM

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QUOTE(ITSBATUED @ Oct 22 2021, 11:51 AM)
TS, I wanted to start trading crypto however im not even literate with crypto lingo. Mind to share your experience upon starting crypto?
*
This is a beginners guide. Just follow will do .

trading cryptocurrency is a second stage.
ITSBATUED
post Oct 26 2021, 10:48 AM

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Thank you sifu. Will try it out 1st then come back with more question.

daryl_musashi
post Oct 29 2021, 04:09 PM

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more updates from sifu?
TSgomydata
post Oct 30 2021, 08:39 PM

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I am preparing free ebooks for crypto investment for beginners.

Please share this post to get 1000 People to follow this page.

before I can give away this ebooks for all of you.


TSgomydata
post Oct 30 2021, 08:42 PM

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user posted image

Hot Wallets[b]
The primary difference between a hot wallet and a cold wallet is that a hot wallet is kept online and connected to the internet, while a cold wallet is not.

Hot wallet storage is quick, convenient, and conducive to cryptocurrency transactions, but it also has disadvantages. Because hot wallets are connected to the internet, they are significantly more vulnerable to hacks. It is advised to only keep a small amount of money in a hot wallet, then, to offset the risk. While these hacks are not common, they do occur periodically.

Hot wallets can be thought of like checking accounts, while cold wallets are more like saving accounts. It makes sense to keep a small amount directly available in your checking account, while the vast majority is kept safely stored in your savings account, or cold wallet.



Cold Wallets

Cold wallets are kept offline and stored either on hardware or paper. Because they are offline, they are kept safe from hackers, but users still assume responsibility to ensure that their paper or hardware wallet is not damaged or stolen.

Hardware wallets are physical devices where you can store your cryptocurrency. They come in a few different varieties but the most common one is a USB drive. Common examples of cold storage wallets include the Trezor and Ledger wallets.

Meanwhile, paper wallets are also an offline cold storage cryptocurrency option that includes printing out your public and private keys on a piece of paper which you can store and save in a secure place. This option gives you, the user, complete control, but you need to make sure you don’t lose the paper.

Because cold wallets are kept offline, they act as a barrier against hackers, making them the safer, more secure options for long-term investments. This is why, at Bitcoin IRA, we’ve partnered with leading cold storage provider BitGo, the leader in multi-signature security and cold storage wallet

This post has been edited by gomydata: Oct 30 2021, 08:44 PM
maggi
post Nov 3 2021, 02:17 PM

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QUOTE(gomydata @ Oct 30 2021, 08:39 PM)
I am preparing free ebooks for crypto investment for beginners.

Please share this post to get 1000 People to follow this page.

before I can give away this ebooks for all of you.
*
pm rclxms.gif
walabies
post Nov 3 2021, 03:42 PM

Jaben Network.. A headphones store with teddy bears...
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Coin gecko has a book call how to defi. Good read.


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Win Win Inspiration
post Nov 3 2021, 05:05 PM

Look at all my stars!!
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Thank you very much TS, I have tracked this topic, and wish to learn from all of you on Crypto Trading.
lelong2dchua
post Nov 3 2021, 05:14 PM

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Ya, quite a lot of new stuff to learn. also the fee charges.

 

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