12 Crypto Trading Strategies You should Follow in Your Business

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Crypto Trading
Strategies
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1. Know whats trending
Since its launch, the number of cryptocurrencies
has tremendously increased. With many digital
currencies floating in the market or say network,
you must have the proper research done about
what coins are trending and their scope to
flourish in the future. 2. Degree of
volatility The value of digital currencies are
not certain. They tend to lower or raise. It is
essential to keep a track on the value of the
currency you are going to invest in getting a
rough idea of the future gains or risk.
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3. Understanding the technology
The first-ever cryptocurrency was bitcoin.
However, over time many digital currencies have
been developed working on their unique
technology. You need to learn the technology
driving the cryptocurrency that you will be using
for the business. 4. Analyzing news It is
important to be alert and updated. News updates
related to government regulations and the
introduction of new currencies manipulate the
value of these digital currencies. Also, any new
venture by a leading brand into cryptocurrency
tends to alter the value of the currency.
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5. Security
Before owning the cryptocurrency, it should be
thoroughly investigated whether the platform
that you are using is safe or not. If the
platform is prone for the hackers to get access,
you might end up losing the cryptocurrencies
forever hence suffering a loss. 6. Fees You
should compare the price that is charged by the
broker or the platform that you use for the
cryptocurrency. There are mainly 3 types of fee
that should be adequately investigated before
investing to avoid any discrepancy in the future.
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7. Wallet
There are many wallet providers in the market,
however, before going in for any particular
wallet proper research must be carried out as
there are many risks involved if you
accidentally chose a less known wallet. The
bitcoin wallet is an example of a reliable
wallet provider.
8. Strategy
After you are equipped with all the essentials
that are needed for doing business with the
digital currencies, you need to prepare an
approach that is organized systematically
focusing majorly on the money management system.
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9. Analyze pattern
It is crucial to analyze the model the cryptocurre
ncies have been following to minimize the
chances of loss.
10. Knowing the metrics The more you study
mathematics, the less probable it will be for you
to suffer loss. You should keep a track on the
numbers of wallets vs the number of active
wallets. This way, you will get better at
predictions and hence the investing.
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11. Tax
Different countries impose different rates of
taxes on the profit gained by exchanging the
cryptocurrencies. You should be aware of the tax
rates imposed on trading with these
cryptocurrencies.
12. Bots Using bots will undoubtedly reduce the bu
rden of manual work and help you to smoothly
execute the work that will be predetermined to
the bot.
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