Crypto assets are actively used for trading and investment because this market is incredibly volatile, allowing one to buy and sell crypto at different prices. There is an option to buy cryptos and hold them long-term, which is called the “buy and hold” strategy. There are options to make money in a shorter term:
- Scalping (short trades when a trader enters and exits the deal within 2 – 15 minutes).
- Intraday trading (trades and closed within 24 hours)
- Swing trading (takes a couple of weeks).
It is also possible to buy and sell crypto on different crypto platforms and receive a profit from the price difference.
Often, traders use such a tool as automated trading. That means they install trading bots and configure them according to their strategy. For example, a trader may set a price level at which the bot will automatically sell and buy coins without the trader’s participation.
How to Get Started?
If you are a beginner crypto trader, you first need to buy cryptos. For that purpose, you should pick a reliable crypto exchange, for example, WhiteBIT. Here are simple steps on how to trade crypto:
- Register an account
- Pass verification (takes a couple of days)
- Deposit money from your bank card
- Find the exchange calculator
- Enter the currency you have and the amount
- Pick the asset you wish to buy
- See the current price
- Pay the fee and receive coins in your account in a matter of seconds.
Similarly, you may convert your crypto to any other digital coin or fiat money if you wish.
On WhiteBIT, your cryptocurrency investment is safe and protected. The platform holds 96% of users’ funds on cold storage.
Read more about crypto trading on the WhiteBIT blog. It has many interesting articles on the crypto topic and guides on how to trade crypto. Plus, you may use the WhiteBIT demo account to practice and learn how the exchange tools work.