Make Money Through Digital Coin Trading
In this article, we are going to teach how we can make $500 in a 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 revolutions happened so far since human life came into existence? The oldest system was barter where goods were exchanged in place goods. Then gold and silver and the latest was Forex trading. But do you know future belongs to Digital Coin Trading?
It’s very easy to make $500 in a 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 the week which is around $7205. On an average, we made more than $1000 in a day.
Analysis of Coin and It’s Behavior
- Coin Analysis
In order to analyze any coin ask these three questions from yourself. Why was this coin invented? Does it meet the purpose for which it was introduced? what is the probability of its growth in future ?. If you know the answer to these three questions and you have studied the coin behavior of last 3 months we guarantee 99% you will make the profit from your first trade.
We were following few coins which were quite popular from trading perspective and RIPPLE was one of them. It was introduced for the 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 its value was .00003243. We converted 3BTC into 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 behaves in the entire day. We have noticed all coins take leap at least one time in a day. That is the moment when we can make money. The best way to monitor and review coin is through cryptocompare this website provides daily, weekly, monthly and yearly data of many coins.
How to do exchange trade ?
You will be surprised 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 a just exchange of currency which is a part of the 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 supports these coins. Because of many website trades in limited coins only. We would recommend going 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 a trader, we should keep one thought 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 its base value then we need to ready to buy. The 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.