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What Does It Take to Become a Savvy Crypto Trader?

Get Into Cryptocurrency Trading Today Day trading isn’t for everyone, as there is a lot to consider before jumping in, but it is an interesting field. You need a game plan. And if you thought forex was dynamic, then cryptocurrencies have added some fascinating dimension into the industry.


Get Into Cryptocurrency Trading Today

Day trading isn’t for everyone, as there is a lot to consider before jumping in, but it is an interesting field. You need a game plan. And if you thought forex was dynamic, then cryptocurrencies have added some fascinating dimension into the industry.

Most forex brokers are now accepting cryptos, especially Bitcoin, for currency trading. 

Cryptos are a higher-risk trading tool, as they are pretty new, compared to fiat currencies. But once you get the hang of it, trading cryptos is fairly easy. So, should you jump in and start trading your hard-mined coins? Well, I think you should check out this guide first before you do that. 

What Is Crypto Trading?

Crypto trading involves buying and selling your coins through a crypto exchange platform, or speculating on currency price movement through a Contract for Difference (CFD) trading account.

Just like in forex, CFDs trading allows you to speculate on price movement before buying a specific coin. In short, you can go short (sell) if you believe that a crypto coin will fall in value, or go long (buy) if there is a possibility of a rise in the value of the underlying coins. 

So, what drives the prices of these crypto coins?

Like most trading markets, Crypto markets are also driven by supply and demand. The only difference is that cryptocurrency markets are decentralized and are usually free of political and economic factors. Here are some key driving factors:  

•    Media coverage: Usually, when a currency is mentioned in the news, what follows is an influx of traders focusing on that coin. This often triggers a rise in value. Savvy investors might want to profit from the coin, making other investors panic and engage in a rush sell, which might lead to a drop in value. 

•    Simultaneous volatility: The cryptocurrency market is associated with sharp rises and deep falls in prices. Interestingly, multiple cryptocurrencies tend to fluctuate in tandem. 

•    Coin idiosyncrasies: Different coins may also be influenced by their unique factors. For instance, if a big investor supports one of the cryptocurrency, it will likely gain in value. 

•    Integration: The extent to which a coin integrates into other popular infrastructure like e-commerce payment systems might make them more desirable. 

Typically, Cryptocurrency trading is ideal for investors who don’t mind trading with high-risk, high reward instruments. While there are several strategies that traders use to make their investment decisions, the two common ones are chart analysis and speculation. 

•    Speculation is when an investor thinks the price of a coin will rise or fall as a result of a specific event. It could be any of the above listed influential factors – for instance, a positive news story. 

•    Chart analysis is a strategy that involves studying historical price movements of a specific coin and then trying to predict how it will turn out. In most cases, a trade would monitor the price changes every few minutes, or even seconds. 

How Does Crypto Market work?

As mentioned above, crypto markets are decentralized. What this means is that they are not backed or issued by a central body such as a government. They also exist as a shared digital record of owners. Nevertheless, cryptocurrencies can be bought or sold through exchanges. 

What Else Should I Know Before Trading?

Now that we have touched on influential factors and the main strategies that traders use let’s also discuss the mental element of trading.

1. Accept Losses
As mentioned above, cryptocurrencies trading is a highly volatile activity. Some cryptocurrencies might not go as you planned. In short, you should be able to admit losses when they occur. Just take them as part of trading.

Even the pro traders have made wild losses in some of their trades. 
What you don’t want to do is chase losses. Some investors may be tempted to try to recover their losses by taking high risks. 

2. Volatility
Perhaps volatility is the one thing that differential real-world assets and crypto-assets. Here, volatility is when the value of an asset rises or falls rapidly.

It can be a great success for a trader who is selling at a hiked price, but it can also be a great failure for the person who bought a coin just before the sharp drop in value. 

In the cryptocurrency market, it is not uncommon for the price of a coin to move up or down by more than 10 – 50% on a given day.

For instance, in early 2018, E-Coin, then a relatively new coin, moved up in value by over 4000% in a span of 24 hours. Sadly, the coin dropped back to where it started. 

3. Short Losses
The good thing with currency trading is that you can set a price at which you will exit your trade or a stop loss. Let’s say you bought your Bitcoin at $9000, and you want to prevent a sudden drop in its price.

What you will do is set yourself a stop loss of, let’s say, 10%. So, if the value of a Bitcoin drops below $8,000, the system will automatically sell your investment at $8,100.  

4. Targets
Besides taking care of losses, you should set some targets. Basically, you should have a rough expectation of how much return you expect from your trading. Most currency traders look for quick gains, which is usually less than 1% per trade.

This strategy might work for traders with a heavy bankroll. But savvy traders are unlikely to risk more than 1% of their total money on a single trade. So, if your total bankroll is $1000, then you should never place over $10 per trade. 

Where Can You Trade Cryptos?

If you have already absorbed most of the above information, you can look for a suitable crypto trading platform.

To choose the right platform, you have to understand your trading goals – for instance, do you want to trade short terms or long term? You should also consider the reputation of the trading platform, Security features, insurance fund, commissions and spread, trading fees, and asset prices. 

With that said, there are a few better places you may want to give priority, such as the largest crypto exchange platform, Binance. Other notable platforms are Coinbase, Bitpanda, eToro, Coinmama, OKEx, Bitmex, Huobi, Bitfinex, and Kraken. 

Trading Cryptos via an Exchange

To trade cryptocurrencies through an exchange, you need an exchange account. Exchange platforms bring their own learning curve that you need to get comfortable with to make sense of the data.

Some may limit you on how much you can deposit. If you are a complete beginner in the crypto space, you can use a CFD broker account. This way, you can trade against a specified value without actually buying the coins. 

But before trading real money, try a demo account. Luckily, most crypto trading brokers offer free demo accounts, which let you test their interface, tools, and other features by playing with money. 


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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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