The cryptocurrency industry is growing, so many novice traders and investors are eager to engage with this field. Cryptocurrency trading is one of the most popular destinations. To buy crypto at a low rate and sell it at a higher price sounds like an undoubtedly successful venture, although things are much more complicated because trading always implies risk. Besides, finding the best crypto trading platform is also a critical stage that requires a serious approach because every trader appreciates different features and tools.
Aspects to consider when trading
- Traders should learn trading strategies, understand how to read charts and be able to react fast.
- A cryptocurrency exchange must be credible and reliable.
- A trader should not make decisions relying on emotions. A good trader acts with a cool head.
- A trader must keep track of new projects and evaluate their prospects and chances.
There are several cryptocurrency trading strategies:
- Day trading. It means placing orders and exiting on the same day. Traders should rely on technical indicators and understand when it is a proper moment to enter and exit positions in time.
- Scalping. Traders make a profit from increased trading volumes. They must be able to analyze the coin’s trends and movements in the past periods to decide when it is proper to enter and exit.
- High-frequency trading. It implies using trading bots and algorithms that allow traders to react to rate changes to enter and exit a position in time. That requires a deep understanding of market concepts.
- Primary research. That is what we have mentioned above – to keep abreast of the coin’s rate changes, to be able to evaluate it, and to keep track of the latest news. Also, a trader must assess his finances and set a goal correctly before purchasing an asset.
The best crypto trading platform
The most used crypto exchanges in Europe:
Many traders think that White BIT is the best platform for trading crypto. Even though it is a young company, it is pretty popular in Europe. More than 2 million registered clients worldwide, 400+ crypto assets, loads of trading tools, and the opportunity to receive passive income are available on WhiteBIT.