If you are new to the crypto world, you may still be trying to figure out how to trade cryptocurrencies like Bitcoin, Ether, Cardano, etc. So that you understand the procedure to follow, we have taken the time to produce a step-by-step guide explaining how to invest, buy, and trade crypto-currencies.
Note that the advice can be applied to any digital asset/token. Stocks, commodities, and ETFs also can be traded with the help of automated trading tools.
Therefore, when it comes to crypto, the steps to follow will be exactly the same whether you want to buy BTC, ETH, XRP, LTC, ADA, DOT, or SOL.
Are you interested in owning crypto-currencies and keeping them for the long term? Or do you prefer to trade cryptocurrencies actively? The gains can be huge in both cases, but the profit comes faster when it comes to day trading. Now again, be careful because this type of practice is a double-edged sword: there are risks.
Seasoned and new traders increasingly rely on automated trading methods using automated trading software to trade on their behalf. It’s a time-saving and emotion-free way of trading where the software based on pure mathematical logic finds the best opportunities to execute trading orders.
The platform we recommend using for trading cryptocurrencies is BitBotApp. After having tested more than a dozen different services, it is the one that has brought us the greatest satisfaction, whether in terms of interface, trading functionality, fees, or choice of assets. This is the one that is most accessible to the general public.
What are the main perks of using automated trading tools in your trading business? First of all, it doesn’t require you to be an expert in trading. Also, there is no need to master day trading strategies and fundamental analysis. Software is suitable for new traders, but seasoned traders have increasingly started using this method over the last couple of years.
It’s a time-saving method that doesn’t require you to sit in front of the trading dashboards for hours and monitor the process. Of course, this is still needed from time to time. But once you enter the parameters such as take profit and stop loss, you are free to let the computer do the things for you.
The tricky part is that there are so many trading robots that new traders are confused about making their choice. So how to know the trading tool is good and that you will make profits using it?
First of all, make sure to check what other traders, current and previous, think about the tool. We suggest reading reviews and testimonials for this purpose.
Also, the platform must offer efficient and professional client support available 24/7. Also, the more available crypto assets, the more possibilities to diversify your portfolio. BitBotApp, for instance, offers more than 15000 cryptos for trading which is quite amazing.
At least read carefully the trading conditions of the specific tool you are interested in. Ensure you understand them thoroughly to avoid any adversities and misunderstandings during your trading activity on their platform.