How to Earn on Cryptocurrency?

How to Earn on Cryptocurrency?

How to Earn on Cryptocurrency?

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Cryptocurrencies are actively used for trading and investment. If at the beginning of the crypto era, only narrow specialists knew about digital assets, then now, since many years have passed, crypto has become much more popular. Moreover, blockchain projects, step by step, enter the real sector of the economy and help financial institutions to provide faster and cheaper services to their clients.

Many individuals also use crypto because they want to avoid lengthy and costly money transfers abroad. Still, the main use case for digital assets is trading. 

Where to Trade Crypto?

A crypto exchange website is a service allowing you to buy and sell digital assets using different trading strategies and tools. You will find many such services on the internet, but it is recommended to use only large and reliable platforms. For example, Binance, WhiteBIT, and Huobi. These platforms allow you to trade crypto and feel safe about your funds because they ensure a high level of protection using advanced mechanisms. Such centralized platforms ask for user verification; otherwise, you cannot access all the trading tools and unlimited withdrawals.

To succeed in trading, pick a strategy and adhere to it:

  1. Intraday strategy – you buy cryptocurrencies and sell them within 24 hours.
  2. Scalping – trades are completed much faster – they can last a couple of seconds to 30 minutes. 
  3. Swing – a trader keeps the position up to a few weeks.
  4. Buy and hold – a long-term investment lasting up to several months.

Of course, success requires a thorough understanding of the market. For that purpose, you should learn to read crypto charts, find patterns and indicators, analyze the external factors that may affect the crypto market, and be able to gather all these factors and draw quantitative analyses. 

Read more about crypto trading on the WhiteBIT blog. This resource regularly rolls out coin overviews and guides on trading.

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