Crypto trader
Real investors that trade CFD’s on forex and crypto currency, know that a trading signal is only as good, as the timing of the trade.
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Crypto trader review
The crypto trader app is a fake trading software, that originally opened in july 2017. The truth is that crypto trader is just another get rich quick scam.
Crypto trader scam
You were probably intrigued by the video you watch, and want to confirm that other people are making money using the system.
There were a few problems we noticed during our review of crypto trader.
- We couldn’t use a legal & licensed CFD broker like fortrade.
- It makes no mention of what the signals are based on? Are they random or is there technical analysis data used.
- They are making very large claims about potential for profits, which can lead to complaints.
If you look at the actual software, you will see that it only tells us the “confidence factor”, who knows what that really means.
Before losing money… look at the best trading apps.
Crypto trader review
The crypto trader system is very much like many other crypto trading signals software. When you watch the video, the actors sound very convincing and genuine. They want you to believe that they are somehow connected to bitcoin and ethereum, but once you login, you see that it is just bad trading signals.
Real investors that trade CFD’s on forex and crypto currency, know that a trading signal is only as good, as the timing of the trade.
If some tells you to buy bitcoin because it is going up, you will make money, only if you buy and sell at the correct time. If you buy to early or too late, especially when trading CFD’s, you will lose money.
Compare this software with more popular trading systems.
Trading signals software
The alternative to using a crypto signals software, many people choose to use an automated trading system.
There are so many systems to choose from, first look at the best trading software.
Scam broker warning!
A huge problem with free automated trading robots, is that they partner with fake online brokers. If you want to see how you will lose your money, you should read the article: how the forex investing scam works.
Trading can be profitable and fun, as long as you are using a licensed and regulated broker. Go visit the best brokers page, and you will see local brokers, that are licensed.
Fortrade is a popular broker, since they are licensed in canada, england & australia, look here. Get your free demo account on their amazing custom trading platform, read more.
Crypto trader names 7 explosive altcoins that could 20x in 2021
Crypto trader ben armstrong is revealing his top seven altcoin picks that he says have the potential to print 20x gains this year.
In a recent video, the trader known in the industry as bitboy crypto tells his 205,000 subscribers that basic attention token (BAT), which is the ethereum-based crypto asset of the privacy-centric browser, brave, has significant growth potential.
“when it comes to utility, no project gets more usage than BAT. This is the token of the most used product in cryptocurrency, the brave browser. Millions of users. Users are stacking up so fast, they actually suspended their referral program… if you believe product and utility will ultimately determine price and value, then there isn’t a better pick than BAT.”
At number six is SAND, the utility token of the virtual gaming world, the sandbox. Armstrong highlights that he included SAND on the list due to its fundamentals and not because of the protocol’s roadmap or price analysis.
“I believe the sandbox game is going to be the biggest thing to hit crypto gaming ever. This interactive land is going to bring the crypto community to life.”
Taking the fifth spot is a protocol that aims to offer extremely fast transaction speeds to existing blockchains via sharding: elrond (EGLD).
“it’s as big as any project out there. The amount of partnerships and connections elrond is working on is massive… if we stick solely to the all-time high of EGLD to 20x its all-time high, we’re looking at elrond to 50x from here, giving it a price of $427.80.”
Grabbing fourth place is cross-chain data oracle platform band protocol (BAND). Armstrong highlights that the sky is the limit for this project as it competes for market share in the decentralized oracle space.
“with a high of $17.67 and a current price of $7.14, the opportunity is obvious. If it were to 20x the all-time high, we’d be looking at almost a $355 price per token and about a 50x which is really nice. But I’m going to be honest with you here, BAND has an even higher ceiling than that.”
Landing at number three is a protocol that enables the transfer of data between different blockchains: cosmos (ATOM).
“cosmos is the bridge builder to get all of these many decentralized economies working together. The scale of what it’s doing is huge. And I feel like it’s not even come close to its potential yet, which means fireworks in 2021 for cosmos and its coin, ATOM.”
Armstrong notes that a 20x from ATOM’s all-time high of $31.59 would take the coin to $632.
At number two is dash which is short for digital cash. The crypto trader expects this year to be big for the bitcoin fork.
“this digital payment solution with a private send feature is the fastest of all cryptocurrencies near the top, and any speed difference from smaller projects is negligible… it’s pretty much instant, which is why many countries such as venezuela have turned to it more than other altcoins in the midst of chaos.”
Armstrong says the project’s huge scope and its relatively small circulating supply of 10 million make the coin a solid candidate to 20x from its all-time high of $1,532.
Taking the top spot is the supply chain management protocol vechain (VET).
“I believe the utility of vechain is huge. I fully expect supply chain tracking to be the most used niche in blockchain over the next year. It is going to be humongous. When it comes to supply chain tracking, there’s no project equipped to be a dominant force like vechain.”
Armstrong believes that a 20x from its all-time high of $0.026 is a conservative target as he expects VET to be valued at $2.00 per coin.
Disclaimer: opinions expressed at the daily hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The daily hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is the daily hodl an investment advisor. Please note that the daily hodl participates in affiliate marketing.
Featured image: shutterstock/art furnace
A new world is coming
Like none other
Invest wisely
Investing with us means, you are getting the best value for your investments. We are secure, reliable and efficient in the crypto trading world. We ensure that all our clients earn from our expertize. Our support system is always there to provide assistance whenever you may need it.
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Create your account if you don't already have an account.
Choose an investment plan and make deposit.
Just sit back and watch your investment grow massively. Plus, you can refer others and get 10% of all their investment deposits.
We are registered in the uk and has shown commendably successful and consistent performance and trading history. Currently, it is regarded as one of the best, most beneficial, brilliantly successful companies in the industry of binary options trading and investing. Crypto trader is a subsidiary of SWIFT TRADE LTD. View company certificate
Crypto trader official site
The crypto revolution is here!
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Welcome to crypto trader website!
Why we created the crypto trader
Cryptocurrency is one of the most incredible advancements in modern technology. The ability to use digital currencies without government regulation gives credence to those that wish to purchase items without a politician looking over them safely. As a result, various cryptocurrencies have risen in prices. Due to this fact, we’ve created crypto trader to help people understand cryptocurrencies like bitcoin.
The main goal of crypto trader is to use automated technology to trade money for cryptocurrency investments. For instance, a person who has enough for bitcoin may receive it if the computer determines investing in bitcoin is a lucrative venture. On a similar note to computers and technology, this app relies on advanced software that primarily focuses on the potential investment.
Automated trading
Plenty of apps focus on manual trading. Crypto trader is not one of them. Instead, crypto trader focuses on automatic trading. Automatic trading is different from manual trading, as the former only requires an investment to get started. The latter requires a deep understanding of markets, recent trends, and several other factors.
By comparison, automatic trading is significantly easier than manual trading. For the most successful investors, manual trading can be more challenging. However, the majority of novices should be able to appreciate automatic trading and the benefits associated with it:
- Requires no prior knowledge of stocks or trading options
- Happens instantaneously
- Easy to navigate through (no several screens to find what you’re looking for)
- Doesn’t need a user to check on their investments to minimize losses constantly
All about bitcoin & other cryptocurrencies
Crypto trader primarily focuses on cryptocurrencies. For those interested in stocks and other miscellaneous trading options, crypto trader isn’t the app for that. Instead, crypto trader focuses entirely on the 24/7 cryptocurrency market. By focusing on a single niche, you can rest easy knowing that crypto trader isn’t pretending to be an app for general money-making.
Naturally, cryptocurrency is continuously changing every minute. As the market is open 24/7, it can seem daunting to a newcomer. Fortunately, crypto trader updates its algorithm from time to time to stay up to date on various advancements within the field. It isn’t just the cryptocurrency market that’s evolving, it’s also technology!
Software
The impressive software involved utilizes the latest state-of-the-art technology. The lightning-quick algorithm allows trades to happen almost instantly.
Crypto trader is a sign of how far our technology has come. This app’s usefulness should appeal to many investors, especially since the technology involved is so profound. In fact, there aren’t many automatic trading apps capable of such swift transactions. The bottom line is that there aren’t many automated trading apps in the market right now, so being one is a unique feature difficult to overlook.
About traders of crytpo
Free crypto trading competition
Join and compete against other traders in our virtual crypto trading and investing game. We have monthly prizes where you can win real crypto. You can trade bitcoin, ethereum and over 20 other cryptocurrencies using market and limit orders.
It’s completely free to enter so you have nothing to lose and its a great way to learn about crypto trading without risking real money, and with the chance to earn a bit of crypto if you are good (or lucky!)
Exchange reviews
There are so many crypto exchange platforms to choose between when you are wanting to buy crypto and it can be difficult to decide which one is best for you. We have reviewed many of the top exchanges in the USA, UK, australia and worldwide so you can understand which have the most coins, lowest fees, best deposit methods and more.
Coin reviews
While most people have heard of bitcoin there are 1000s of other crypto currencies to invest in if you are brave enough. Many are hard to understand and some feel a bit shady. We have listed some of the more popular ones and will be giving our take on what is good and bad about them so you can assess their risk and growth potential. We wont tell you what to invest in but we will try to help you make more informed decisions for your crypto investments.
Crypto guides
We explain some of the most important crypto questions from the simple how to buy bitcoin to advanced trading strategies. We also aim to demystify much of the crypto jargon and help you understand the risks and pitfalls of crypto investing such as how to keep your crypto safe after you have bought it.
Important: the above opinions are not investment advice and aim to educate and set guidelines for exposure to highly volatile assets. Exposure to crypto assets can lead to a significant or total loss of the sum invested. We do not guarantee the accuracy of content on this site or sites that we link to.
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Crypto trader review, SCAM cryptotrader software exposed!
The cryptotrader (AKA crypto trader) software and trading robot (not to be confused with the HYIP broker with a similar name) by david richmond the fake self-made multi millionaire and CEO of richmond ventures is a BLACKLISTED SCAM. In our honest and impartial review and investigation we will demonstrate, provide proof, and produce conclusive and indisputable evidence which validates our initial premise.The facts speak for themselves, and what we have stumbled on is a bona fide financial scam which is currently being promoted online by unethical affiliate marketers. Here’s a fair warning, the people peddling this filthy thieving app are professional con artists who primarily use SPAM email marketing to target their victims. Based on this fact, we highly recommend you refrain from clicking on any links you may receive and immediately unsubscribe from their service. We have also received complaints about viruses infecting computers and devices, so please just mark the message as spam or phishing and move on. We understand that some of you may believe crypto trader is genuine or legit, but it is not. So don’t be tempted, misled, deceived, or let yourself be cajoled into funding a trading account with a sleazy and unregulated offshore broker. Keep reading to see how we exposed crypto trader and why we believe it is a confirmed investment scam designed to steal your money.
Official website, login area, and members page: https://crypto-trader.Co/lp.Php
Quick update: the crypto trader software has recently been relaunched and the complaints are mounting. Please be super careful.
Proof of SCAM
below you will see richmond saying that there is “absolutely no risk involved” with his software and that it is “mathematically impossible to lose”. We have heard these kinds of claims before and every novice trader starting out knows that even the best software absorbs some losses. This paid actor is lying through his teeth and it’s not a very convincing performance to say the least.
Secondly, this domain was registered about a week ago. This contradicts everything richmond says about having a group of traders which have used the software for a while and are now millionaires.
Finally, we have a picture taken from an image bank named 123RF. One of the so called “new millionaire traders” is nothing more than an image bank actor. We have a zero tolerance policy for this type of false advertising as it is very effective at baiting and tricking innocent opportunity seekers looking to cash in on a legit system or trading tool.
Who is david richmond?
He is supposedly a self-made millionaire and the owner of this software. When he was a child his parents took him to see an uncle who is referred to as “crazy arthur”. This uncle lived “smack in the middle of no where” and his house was packed with books. Richmond received two books about spies, ciphers, and code breaking. These books prompted his lifelong “passion for cryptography”.
At some point he was offered a job at the NSA’s digital counter intelligence division to help with pattern detection and code breaking. After 15 long years he left the intelligence community and started spotting market trends and identifying profitable market conditions, and that’s how the software was created.
What is crypto trader?
It is an “automated money machine” that scours global financial data and uses artificial intelligence and state of the art algorithms to predict “surefire winning operations.”
Crypto trader software review
david richmond is promising us that by clicking 5 specific things you can boost your income by $5,000 each and every day. He is saying his software is guaranteed to win because if it spots even the smallest amount of risk it will not take the trade. He claims his software has a 100% success ratio because it is able to analyze data at the “deepest level in the fastest possible time”.
Now we start with the fake reviews and that’s when “sasha” from greensburg and “peter” from cleveland tell us how this software transformed he lives. Then he starts explaining why time is limited and when they go public (IPO) and become even richer the software will not be for free so you have to take action now before it’s too late.
Is it free?
Actually it is not, and that is another lie. You have to fund your trading account with at least $250, and that money will be charged to your credit card by one of their cheating offshore brokers.
Reality check
this is a classic financial scam and not very sophisticated. We have identified all the pieces of this puzzle and the picture is very clear. We are witnessing the classic tell signs such as hyped-up or exaggerated claims of easy money, inflated bank accounts, fake testimonials, and outright lies, half-truths, and fabrications. To top it all off, this app has nothing to do with crypto-currencies such as bitcoin or ethereum. It’s just a ploy to get you signed up with a binary options broker.
Fake reviews
we have yet to see any of those, it seems the entire trading community is in agreement about this fake trading robot. Still, based on our previous experience we are sure this will change so be very careful and skeptical because there are sure to be “ethical websites” which will publish fake reviews.
Additional viral scams trending
the hot scams to watch out for are maverick forex and quantum code.
Signals versus robots
if you are deliberating about which system is right for you then you are not alone. Fortunately our staff of diligent researchers has compiled a short list of consistent money making apps. These are all proudly showcased in our recommended section.
Review conclusions and summary
the crypto trader software and trading robot by david richmond of richmond ventures is a SCAM. We blacklisted this phony software in our detailed review because we believe it is dangerous and steals money. The results and accuracy levels are so low that we blew our money in about 5 minutes when testing the software. We also produced clear-cut evidence to back up our claims, so to deny that evidence would be futile and very similar to burying your head in the sand. We believe the criminals behind crypto trader are not ethical businessmen, and will fleece your wallet if they had the chance to do it. Interestingly enough, we were contacted by these crooks and they asked us to promote their garbage – we said no on the spot and cut off our communications channel with these crooks. To reiterate, we believe there’s nothing legit or genuine here, so we had no choice but to blacklist this fake trading robot and refer our members and subscribers to alternative investment avenues. Don’t forget to join our facebook page and subscribe to our youtube channel and get updated.
Cryptotrader.Tax review (2020) | don’t let the IRS steal your crypto! (discount below)
Cryptotrader.Tax review – A detailed look at this crypto tax reporting platform crypto tax coverage can be a difficult and also taxing procedure, with individuals generally making purchases throughout numerous various systems and also complication over crypto tax policies.Nonetheless, it’s critical that individuals obtain their tax obligations done promptly to stay clear of fines and also future effects. When finishing their crypto tax obligations, individuals have a couple of various alternatives readily available to them.
Now, as you know, I believe that taxation is theft. I do not believe that my money spent (crypto or otherwise) should be paid to the government so they can piss it away and give to someone who isn’t willing to create a life for themselves. Having said that, we all know that taxes are unavoidable (for now) and to continue to run a business and maintain any semblance of order in this world, it’s better to correctly calculate your own taxes via this tool, as opposed to letting the government do them for you.
In fact, they don’t even know what their own regulations and rules are, as they left open to interpretation. I am telling you, do this for our own good!
What is cryptotrader.Tax and why do I need it?
These consist of computing and also submitting their tax obligations themselves working with an accounting professional or making use of a specialized crypto tax reporting system one such crypto tax reporting system is cryptotrader tax which defines itself as the most convenient and also most trusted means to prepare your cryptocurrency tax obligations to figure out if it meets these cases I examined out the system and also have actually given a comprehensive testimonial for our viewers listed below import your trades from any exchange.
One of the intricacies of attempting to compute your crypto tax obligations alone is taking care of the substantial quantity of purchases made throughout numerous crypto exchanges. A buck worth for each and every profession have to be developed in order to compute any kind of gains or losses properly.
Therefore when managing a great deal of professions this comes to be a lengthy and also laborious job with mistakes usually made cryptotrader tax permits you to promptly import your professions from any kind of exchange by either making use of the API import device or posting your profession background documents.
Cryptotrader.Tax vs. Cointracking: which is better?
This will certainly allow you to successfully take care of every one of your trading information on one specialized tax platform. Also, when you post your professions, cryptotrader.Tax instantly develops a reasonable market price and also price basis for them making use of historic information. This substantially raises the rate of computing your tax obligations and also dramatically minimizes the threat of errors.
On top of your profession information, you can additionally include various other crypto revenue from points like airdrops, presents, and also mining. Generating a tax reportafter importing every one of your information, you after that examine your professions prior to creating your record.
For each and every tax year, cryptotrader.Tax creates an audit trail report, cryptocurrency income report, short & & long term sales report, IRS form 8949, and also an end of year positions report.Generating tax reportcryptotrader.Tax sustains the FIFO, LIFO, and also HIFO accountancy approaches, indicating individuals from nearly throughout the globe can utilize this system for their cryptocurrency tax obligations.
Customers can additionally have their gains and also losses computed in any kind of cryptotrader.Tax vs bitcoin.Tax fiat money when cryptotrader.Tax price computing your tax obligations cryptotrader tax makes use of the very same approaches that tax specialists make use of.
It makes sure that you are paying the right quantity and also not paying too much on your tax obligations. Cryptotrader.Tax has integrated tax-loss harvesting devices to aid you minimize and also counter your resources gains.The system additionally permits you to import your resources gains and also losses straight right into the online or desktop computer variations of turbotax and also various other tax systems.
Is cryptotrader.Tax compliant with the IRS?
Cryptotrader.Tax is level 1 PCI certified and also makes use of SSL security to make sure that your information on the system is secure.Cryptotrader.Tax pricingcryptotrader.Tax costs for records as a single settlement per tax period. It has a tiered rates framework in position indicating the even more professions you made throughout the tax period the a lot more you pay this permits those with a handful of professions to pay a marginal quantity and also also for those that call for the cryptotrader.Tax vs bitcoin.Tax unrestricted rate the rates is still really affordable.
When you have actually acquired a record, you can make unrestricted alterations to it for that year. Cryptotrader.Tax’s rates alternatives are as adheres to: cryptotrader.Tax pricing plans users can spend for cryptotrader.Tax making use of a visa, mastercard, or american express credit/debit card. Nonetheless, it’s crucial to recognize that you just need to spend for cryptotrader.Tax when you prepare to create your tax record.
This indicates you can develop an account, import your information, and also examine your purchases for free.
Note: if you require records for 2017 or in the past, you can obtain a 15% price cut off the regular record price.
Cryptotrader.Tax final verdict
Cryptotrader.Tax uses a complete money-back warranty on any kind of acquisitions. That indicates if you are not pleased with your record you can obtain a complete repayment as long as you request it within days of acquiring how to create an accountit s fast and also very easy to cryptotrader.Tax vs bitcoin.Tax develop an account at cryptotrader tax with the alternative to develop either an individual account or a tax professional account. To develop an individual account, customers merely require to include an e-mail address and also develop a password.
Tax specialists require to supply their name e-mail and also develop a password cryptotrader tax signing up for an individual accountthis procedure takes secs and also when you have actually developed your account cryptotrader.Tax price you can promptly begin incorporating the exchanges you make use of publishing your information and also making use of the systems various devices.
You do not require to supply any kind of bank card or settlement information when developing an account overviewcryptotrader tax permits any individual to conveniently take care of cryptotrader.Tax price and also compute their crypto tax obligations at an affordable rate. What can take hrs or perhaps days can be carried out in mins on the cryptotrader.Tax system.
Is cryptotrade.Tax legit?
In addition to that, cryptotrader.Tax makes sure that your bitcoin tax record is exact and also certified, alleviating the threat of blunders and also paying too much on your crypto taxes. Cryptotrader.Tax overview. Cryptotrader.Tax’s CEO david kemmerer was also a visitor on anthony pompliano’s ‘off the chain’ podcast, where he went over the intricacies of cryptocurrency tax obligations. For those that want to pay attention to this meeting, you can locate it here.
If, at any kind of factor, a customer requires help throughout the tax reporting procedure, cryptotrader.Tax has a specialist assistance group in position that will certainly obtain your questions solved swiftly. Generally, cryptotrader.Tax is an exceptional selection for both people and also tax specialists that are seeking to make the tax reporting procedure a lot more reliable.
What do you think? Is there a better tax tracking software for crypto taxes out there? Let us know in the comments below!
Cryptotrader
Cryptotrader review
Everybody loves crypto (as in cryptocurrency), right? Yeah! With a name like cryptotrader, you would expect software that trades cryptocurrencies. Well, that’s not the case because this crypotrader will not make you rich by trading cryptos, and instead, it will make you rich (or so they say), using cryptography. Oh, I cannot contain my excitement…
What is cryptotrader and how does it work
Cryptotrader is a fully automatic software that uses advanced algorithms and cryptography to get you the best trades, with no risk and extremely high returns of at least $5,000 per day but can go as high as $45,000 per day. BOOM!
The sales video is filled with catchphrases meant to make you sign up: millionaires club, exclusive, absolutely no risk involved, you are finally here at the gates of true wealth and financial freedom (lol). It’s cringe-worthy. The story is the same we’ve seen countless times: he came from humble beginnings, then he got good with codes and code-breaking, then he was hired by the NSA’s digital counter intelligence division (WOW), then he came up with some computer algorithms that automated trading. Then he became rich trading with these algorithms. What’s the next logical step? Share this money making autotrading software with the world…. Because why not!
In 6 months he “produced” 43 millionaires and now it’s my turn to become one (oh goody). He assures me that his software even works on new accounts. What does that mean? Why wouldn’t it work on new accounts? What does the “age” of the account have to do with the accuracy of a trading system? It’s not like the pound drops and I will make money selling it because I have a 2 years old account but you won’t because your account was opened yesterday.
Next, it’s time for some proof that the autotrading robot actually does what they say. But just look at what they show on the website:
Don’t believe the cryptotrader!
Am I supposed to believe that’s real? Come on, it’s like a microsoft excel sheet. Everybody can edit it to look like millions are made. But let’s assume for a second that it is real. If this is the case, then why are they showing the personal emails of all these clients? That’s some serious privacy mess up.
If those people actually make 5K per day with no risk (LOL, sorry I cannot keep a straight face), that’s 1,825,000 per year (he says “every day” so yes, I am counting weekends as well) so those people will soon be rich. If their email address is made public, they will be assaulted by all the scammers who watched the video and tons of people trying to sell them something. Privacy is important!
BS warning: his company – richmond ventures – is worth more than 400 million US dollars and they are about to go public and then he mumbles something about making a win of over 1 billion dollars. Ok, I don’t buy that, but what comes next is even more amazing: he says that I will be “in for a nice slice of the action when richmond ventures goes public”. This is bullsh2t. Is he trying to tell me that by using cryptotrader I will actually get a share of richmond ventures.
The dude then starts to worry about my wellbeing, saying that too much money can do me harm, so he hired one of the world’s best financial coaches to help me cope with all the happiness. She will be available full time in the members’ area of cryptotrader and I can ask for her advice when I feel like it. I’m sorry but this is just unbelievable. The guy gives me the golden goose and he’s still worried for me…. OMG, he is probably the nicest guy on the face of the earth.
The conclusion – stay away from the cryptotrader!
Yada, yada, yada all the way. All this guy’s doing is throwing flashy words my way, telling me how rich I am going to be but there’s no actual proof that the software makes a dime. The story is the same as always and probably the end result will be the same: you will end up with your money tied in a brokerage account you didn’t want. In this case, their recommended broker is binary online, a brokerage I see more and more in relation to autotrading money making schemes like cryptotrader. The conclusion is obvious to me: you will not make money with this robot. It’s a scam. As simple as that.
How to become a successful crypto trader
Crypto trading is the fastest way to increase (or lose) your money in crypto.
When people think about investing in crypto, the first thing that comes to their mind is trading.
If you've been a stock or forex trader in the traditional markets it will be easier for you to just adapt your strategies to the crypto market and leverage your skills and experience to profit.
But not everyone has that skill set and experience to bank on.
But does not that mean they've got no chance at making money with crypto trading?
In this post, I'm going to share with you the basic things you need to do if you want to be a successful cryptocurrency trader from scratch.
How to be a successful crypto trader
- Study and understand (be a student of) the crypto market
- Choose a crypto trading strategy and master it
- Choose a few coins you're going to be trading
- Choose reputable exchange(s) to trade on
- Keep learning and adapting your strategy to the market
- Keep your emotions in the freezer while you trade
Let me explain each of the above recommendations and how to go about them.
Understand the crypto market and trading
Cryptocurrency trading is a zero-sum game and the market is extremely volatile. More volatile than a jealous and hot-tempered girlfriend (pun intended).
What that means is that the market can move in either direction by a high percentage (-95% or +2500%) in a few hours, or days and for you to make money, someone else must lose and vice versa.
These are just the tip of the iceberg of what makes the cryptocurrency market special and you will be doing yourself a great favor by learning up and staying updated with the happenings in the market.
Understand the technology and the combination of factors affecting and moving prices generally.
If you fail to educate yourself nobody will and you'll end up learning the hard way by losing your money over and over again.
So your first assignment if you want to be a successful crypto trader is to educate yourself about the market and the various factors affecting price movements.
You may find these resources helpful to start with:
What type of trader do you want to be?
You can attempt to be a jack of all trade and master of none.
But to become a successful crypto trader all you need is just one winning strategy that you can master and perfect.
Learn about them and find the one that fits your personality, schedule, trading capital, and unique preferences.
Once you have identified a trading strategy that you're most comfortable with, the next step is to learn EVERYTHING you can about that strategy.
Read articles, listen to podcasts, watch videos, and soak up as much knowledge and other traders' experiences about your chosen trading strategy.
But please avoid paying for any crypto trading online courses. Most of the time, they're not worth it and everything they'll teach you is already freely available on google, youtube, twitter, quora, etc.
This will help you to identify what works and doesn't work for most traders, why what work works, and why what doesn't work didn't work for each individual you learn from.
This knowledge will help you know the things to avoid and what to adopt based on the knowledge and pre-experience you have acquired.
Choose the coins you will trade
According to coinmarketcap, there're over 7,800 different cryptocurrencies (coins and tokens) currently trading on various crypto exchanges as at the time of writing this line.
You're definitely not planning to attempt trading all of them.
That's why you must select a few coins you're going to be trading.
The fewer the better, so that you can thoroughly study the coins, understand the various factors affecting the price of that particular coin, monitor and analyze any identifiable pattern and use your deep knowledge and understanding of its market to profit off of lousy traders.
Personally, I wouldn't trade more than 7 different cryptocurrencies and that's even when I'm doing it full time.
Otherwise, I will stick to one or two maximum. 3 if I want to go extreme.
More so, I wouldn't trade any coin that I would not be willing to HODL for longer in case the market moves against me unexpectedly.
And that's why part of the process of selecting the cryptocurrencies to trade is performing a full fundamental analysis of the project to see if it has a future in the first place. Click here to learn how to perform a cryptocurrency fundamental analysis all by yourself.
By now, you will easily understand that I am a conservative trader looking to make the most profit while keeping my capital secure at all costs. If you're the james bond type feel free to degen into any shining crypto that you find and get prepared to lose your money.
Choose reputable crypto exchanges to trade on
One of the most important decisions you're going to make and one that will significantly affect your success as a trader is choosing a cryptocurrency exchange to trade on.
Of course, the derivatives markets are not for you.
Because it's a casino and you ain't here to bet, are you? No!
My favorite crypto exchanges are binance and kucoin (spot) and uniswap (DEX).
I may frequent other exchanges to take advantage of arbitrage opportunities, buy or sell coins that are not available on my chosen exchanges but all trading funds eventually return to these three.
My choice of exchange is based on security, reliability, liquidity, availability of the coins I want to trade, availability in my country, among others.
But you don't have to use the same exchanges as me.
Click here to discover the top 9 cryptocurrency exchanges you can’t go wrong with and then choose the one that offers everything (or at least, most of the things) you need.
Evolve or die
The cryptocurrency market is not just extremely volatile, it's equally dynamic.
In this space, things change very fast, and to maintain your competitive advantage, you need to constantly keep learning, relearning, unlearning, and adapting to the changing market conditions.
What works last week or month may not necessarily work today and it doesn't have to be your fault before it affects you.
So you got to be prepared for all eventualities and be ready to change when the circumstances dictate so.
You need to keep honing your trading skills and perfecting your strategies EVERY DAY to stay on top of your game.
Remember I said this is a zero-sum game.
Your profit is another trader's loss and your loss is someone else's profit.
This is a huge jungle where you're either the prey or the predator. Therefore, you can't afford to slack.
Kill your emotions
Your emotions (fear, greed, escalated commitment to a particular coin, etc) are all your enemies in trading.
Ditch them before they rekt you.
But does that mean I have to be a stoic to become a successful crypto trader?
However, you only need to ensure that your analyses and trading decisions are not being influenced by your emotions but by the truths and facts of the market.
Conclusion
Becoming a successful cryptocurrency trader is no rocket science and anyone can do it.
All you need is to educate yourself on the market, master only one trading strategy, select a few coins and exchanges to trade, and constantly strive to remain updated on the changing market conditions to stay ahead of the competition.
That's enough from me. Over to you.
What strategies do you use to become a successful trader? What have been your experiences trading or learning how to trade crypto so far? Share with us in the comments section below.
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