Cryptocurrency trading can be intimidating for new traders. This blog post will walk you through the basics of crypto trading so that you can get started investing in this emerging market.
What is cryptocurrency?
Cryptocurrencies are digital currencies that are not tied to any specific country or central bank. Bitcoin, Ethereum, Litecoin, Zcash, and Monero are just a few popular cryptocurrencies on the market today. How do I trade cryptocurrency?
There are many ways to trade cryptocurrencies including buying them at an exchange like Coinbase or Gemini or by exchanging goods and services with other people who have access to cryptocurrencies via LocalBitcoin or Mycelium Local Trader app.
Day Trading
Crypto day trading is the act of holding investments for a short period of time, typically less than 24 hours. It can be an extremely profitable endeavor because you are able to buy low and sell high in the same day. However, it does not come without its risks.
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Intraday Trading
Intraday trading is a type of stock market trading that occurs during the course of one day. It differs from traditional long-term trades that occur over several days or weeks in duration, and it can be much riskier than other types of investing because the risk is measured by how much money you could lose in an hour if your strategy fails. This post will cover what intraday trading is, why people trade this way and the risks associated with it.
Scalping
Scalping is a trading strategy where traders focus on high-volume stocks with low price points. The goal is to capture short-term momentum for quick profits by buying and selling shares at consistent intervals throughout the day. This trading style requires a lot of patience as it does not involve holding onto positions long enough to see major gains, but it can be an effective way to build your portfolio over time if done correctly.
