Make Money Through Digital Coin Trading
In this article we are going to teach how we can make $500 in day with coin Trading. But before we start it is necessary for us to know what is digital currency ? Those who are new to this term please visit our other blogs.
Do you know in trading there are four major revolution happened so far since human life came in to existence ? The oldest system was barter where goods were exchanged in place goods. Then gold and silver and latest was Forex trading. But do you know future belongs to Digital coin Trading.
It’s very easy to make $500 in day with coin Trading the only condition is that you should know your coin and it’s behavior.
We will share a real example where we made 7 BTC in week which is around $7205. On an average we made more than $1000 in day.
Analysis of Coin and It’s Behavior
- Coin Analysis
In order to analyse any coin ask these three questions from yourself. Why this coin was invented ? Does it meeting the purpose for which it was introduced ? what is the probability of it’s growth in future ?. If you know the answer of these three questions and you have studied the coin behavior of last 3 months we guarantee 99% you will make profit from your first trade.
We were following few coins which were quite popular from trading prospective and RIPPLE was one of them. It was introduced for banking sector. So we had a high expectation from this coin but it was not performing well. But on 20th March a notification from Ripple landed in my inbox. Here is the Screenshot.
The moment we saw this email we came to know that value for this coin is going to increase in future. But we had no idea that it is going to increase by 350%. So we bought this coin and at that time it’s value was .00000916 BTC per coin. But when we sold it’s value was .00003243. We converted 3BTC in to 10.62 BTC. Which was completely unbelievable for us. It was like we hit the JACKPOT.
2. Coin Behavior
It’s basically to know how coin behave in entire day. We have noticed all coins take leap at least one time in day. That is moment when we can make money. Best way to monitor and review coin is through cryptocompare this website provide daily , weekly, monthly and yearly data of many coins.
How to do exchange trade ?
You will be surprise to know that the money we made was not made with professional trading which is also known as marginal trading. because we have no experience of trading. what we did was just exchange of currency which is a part of trading platform. You can also do this with coinpayment or any website who provide exchange facility.
- Create a trade account
First select the coins in which you want to trade then choose the website which support these coins. Because many website trade in limited coins only. We would recommend to go for poloniex because they deal in maximum types of coins. Following are the coin trading websites.
2. Need sufficient Fund.
We need sufficient fund to make the trade effective. As trader we should keep one think in mind that buying and selling both are the opportunity to make money. We should not only focus on selling at higher price. But if coin goes down from it’s base value then we need to ready to buy. Base value here means the value from which neither coin went down or went up. In other words we can say lowest or highest point.
Please see the screenshot of Poloniex. There are two columns one is to buy coins and other is to sell.