Trading Bitcoin and other Cryptocurrencies is an optional step in your journey 

 

Firstly: You do not need to day trade to make money with Cryptocurrency!

Many people buy Bitcoin or other cryptocurrencies and hold them until the price rises, then sell them when they are happy with the gains. 

I use Binance as the platform for the vast majority of my trading.

Trading Bitcoin and other cryptocurrencies on Binance has been a steep learning curve for me. I have had to put many hours of research into reading candle charts, market trends, moving averages, TA, RSI, FUD, FOMO and many other cryptocurrency terms that made my head spin! However, I’ve actually developed a love for short term trades netting myself 5-10% profits (and sometimes, much more). It isn’t for the faint hearted and there I definitely don’t recommend punting on a random cryptocurrency. 

Some people will tell you that TA (Technical Analysis) is unreliable in the cryptocurrency world. I have found this to be quite inaccurate and have made great profits from my own TA and the TA of other trusted traders. Sometimes the market behaves in it’s own way and destroys all TA, trends, movements and crazy guarantees – but more often than not a solid TA will help you to make the correct decision in buying or selling.

 

This is a great tutorial to help you understand the Binance Exchange – YouTube Tutorial
Binance have put together a small help section about trading on their exchange – Binance Trading Tutorial

Binance

My first advice when trading on Binance is to buy yourself a small amount of BNB. Binance, like any other exchange, charges you a fee to trade.

However, Binance massively lowers the fee if you trade using the Binance Coin (BNB). You will save yourself an incredible amount of money trading using BNB as the coin you use to pay trading fees. 

You’ll also alleviate the annoying ‘dust’ issue in trading. Dust is when you’ve traded one coin for another, the fees have been taken from that coin and have left you with a small decimal amount of leftovers.

Terrific! You are now ready to sell your cryptocurrency back into your chosen currency.

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