Cryptocurrency trading is a widespread activity in which many crypto experts are involved and quite successful. Since crypto rates are unstable and changeable, profits can be generated in 15 minutes, one day or several weeks or months. Crucial aspects of success are practice, understanding of the market, what affects cryptocurrency live prices, and when it is the right time to enter and exit the position (buy and sell assets).
Here are some common trading patterns to simplify the process of trading:
- Day trading
Each of these trading methods means various periods between opening and closing positions on cryptocurrency trading exchanges and using tools such as bots. Bots help traders track the market and purchase assets following the user’s settings appointed for the bot.
How to Begin Trading Cryptocurrency?
Whatever method you choose, it all starts with purchasing cryptocurrencies. So we will explain how to buy digital assets using the WhiteBIT cryptocurrency exchange. WhiteBIT is suitable for beginners. This platform is straightforward, easy to handle, and has all the implements for efficient trading.
Buying crypto means you should:
- Register an account and verify it.
- Add your bank card and move fiat money (dollars, euros or pounds sterling).
- Open the Exchange block and pick the asset you would like to buy. Then you will be offered the current crypto rates.
- Pay the fee and complete the transaction.
The platform provides demo cryptocurrency trading, which is especially valuable for beginners. The demo account provides you with demo tokens that you can use on any trading instrument; it works effectively with an intraday trading strategy when you open many trading positions in a day and react to small market fluctuations. This type of intensive trading is the most effective way to gain experience.
For more information about trading, go to the WhiteBIT blog.