Cryptocurrency exchange - how to trade on a cryptocurrency exchange + TOP-5 cryptocurrency exchanges for trading

Hello dear readers of Rich Pro! Today we will talk about cryptocurrency trading: how to trade correctly and which cryptocurrency exchanges are best used for trading.

Having studied the submitted publication, you will learn:

• Can trading (cryptocurrency) trading become an effective way to earn money;
• What steps do you need to go through to start trading on a cryptocurrency exchange;
• Which cryptocurrency exchange should a beginner choose?

At the end of the article, we traditionally answer the most popular questions.

So, we are starting!

How to start cryptocurrency trading and which cryptocurrency exchange is best to trade - read in this issue

1. Trading cryptocurrencies on the exchange as a way to make money

Cryptocurrency exchange - This is an online platform where anyone can buy and sell cryptocurrencies in real time.

Here you can one-time exchange or trade monetary units regularly for income. The basis of the trader's income is the difference in cryptocurrency rates.

In fact, the first cryptocurrency exchanges appeared not so long ago - a few years after the creation of the first virtual currency (Bitcoin). At first, it was planned to use such money as a means for conducting safe and completely anonymous settlements in the mode online.

But over time, cryptocurrencies have acquired other functions. So, virtual money has become a fairly popular tool for speculation. With competent trading, you can achieve a fairly quick profit with minimal investment.

Those who acquired bitcoins a few years ago have increased their capital today. many times. In recent years, the value of this currency has continuously grown by leaps and bounds. Read about where and how to buy bitcoins for rubles, read in one of our articles.

After the success of bitcoins, other virtual currencies began to appear on the market - lightcoins, Ethereum, give and many others. They are also quite successfully traded on cryptocurrency exchanges.

Today, experts say that virtual money has managed to squeeze out traditional financial instruments traded on stock and currency exchanges in the market.

There are several factors that allowed cryptocurrency exchanges to achieve significant popularity:

1. High level of volatility (volatility) of virtual currencies. For only 2017, bitcoin went up 4.5 times.
2. To work with cryptocurrencies, there is no need to be the owner of large capital. To start trading, it is enough to invest an amount in the range of five to ten thousand rubles.
3. A wide range of cryptocurrencies. Each trader can choose for work the currency that seems to him the most profitable.
4. Cryptocurrency trading is a fairly new area of ​​work on the exchange. This niche has not yet been occupied by the exchange giants.

Do not think that cryptocurrency trading will allow you to instantly get rich. Trading on the exchange is a rather difficult daily job. Only by making remarkable efforts can serious profit be achieved.

Sure, many will notethat you can purchase cryptocurrency on the exchange and leave it on your account until the exchange rate grow up⇑. However, it makes no sense to register on the site for these purposes. Similarly, you can store virtual money in a regular online cryptocurrency wallet.

In fact, the work of a trader is accompanied by the need to constantly analyze the market, to look for the most successful moments for buying and selling cryptocurrency. Special programs called bots. Using them, the trader is freed from the need to perform the most routine actions, such as:

• monitoring course changes;
• monitoring the situation on the exchange;
• search for the most successful moments for the purchase and sale of cryptocurrency;
• opening orders.

In order for the bot for cryptocurrency trading to start working instead of a trader, it is necessary to install it on a computer and give it access to an account on the exchange.

There are several ways to get a bot to trade on a cryptocurrency exchange:

1. buy;
2. free download;
3. create yourself.

About download free bots There are a lot of disputes on the net Most experts believe that such programs for trading are not effective. By creating a bot yourself, you can take into account your own trading principles in its work. Moreover, if you change the trading plan, you can make appropriate amendments to the program code.

Many Russian traders care about how legitimate speculation on the cryptocurrency exchange is. It is important to understand that official permission, however, as well as a ban, on actions with virtual money in Russia does not exist.

No one blocks trading floors, but they do not have any licenses. It turns out that cryptocurrency trading in Russia is carried out by speculators at your own risk. If the invested funds are lost, there will be nowhere to handle claims.

We recommend that you read our article on investing in cryptocurrencies, where you will find useful tips that will help you safely invest in crypto assets.

2. How does a cryptocurrency exchange differ from an exchanger

Not everyone understands what the difference between a cryptocurrency exchange and an exchange is. Meanwhile, it is important for the trader to understand the difference between these two services.

Cryptocurrency exchanger is a resource that offers customers a public offer for the provision of conversion services for all kinds of digital currencies. At the same time, users cooperate with only one counterparty, which is exchanger administration. Thus, when working with an exchanger in any operation, only two entities - buyer and seller.

In contrast to this cryptocurrency exchange is a platform that brings together a huge number of sellers and buyers. Cryptocurrency owners offer it for sale, setting the price of their own volition. Those who have decided to purchase virtual money, consider price offers and choose the most profitable for themselves.

In cooperation with the exchanger, neither the seller nor the buyer have the opportunity to influence the price. Everything is simple here: if you do not like the conversion rate, the service can only offer to look for another resource for the operation.

On the exchange, any intervention in the transaction is minimized. At the same time, customers remain completely independent.

Thus, the main functions of the exchange are as follows:

• organization and creation of an electronic platform that will bring together the buyer and seller;
• providing functionality for making cryptocurrency offers and registering transactions;
• in some cases, the exchange plays the role of arbitration in resolving contentious issues.

For such services, the market takes from participants in the trade Commission remuneration.

In this way, exchanger provides fixed exchange rates. Stock exchange unlike him, he does not independently engage in the exchange, purchase and sale of currency, as well as the regulation of the value of currencies. She only provides a platform and software for conducting transactions between independent clients.

A step-by-step guide on how to trade cryptocurrency exchanges and make money

3. How to trade on a cryptocurrency exchange - step by step instructions for beginners

To start trading cryptocurrency on the stock exchange, you first need to get basic knowledge of trading. Have to study the literature, as well as information on the sites. Basic knowledge of trading on the exchange will be enough to start trading cryptocurrency.

To facilitate the start of trading, you should carefully study the following step by step instructions. Exactly following it will help to avoid most beginner mistakes.

Step 1. Choosing a cryptocurrency exchange for trading

The Internet has a huge number of cryptocurrency exchanges. Part of them Russian speakers and accept electronic currencies familiar to Russians - Kiwi and Yandex money. There are also platforms that do not support the Russian language and wallets operating in our country.

By the way, one of the most popular crypto exchanges is Binance (Binance). She has good reviews on cryptocurrency forums and blogs.

However, it is not necessary to start an electronic wallet in cryptocurrency. It is much easier to transfer money to virtual currency directly on the exchange.

Experts recommend traders who plan to operate in large sums of money in the process of work, choose a trading platform with a large number of registered users. On small exchanges, there may simply not be enough finance for the exchange operation.

Also, when choosing a trading platform, the following parameters must be considered:

1. The number of daily operations, trading volume. The higher these parameters, the more trader will have speculative opportunities on this exchange.
2. Methods of depositing and withdrawing fundsused on the trading floor. It should be borne in mind that some foreign exchanges do not cooperate with payment systems convenient for Russians.
3. Exchange Reviews on specialized forums and other sites for traders. Of course, you should not believe everything that is written on the Internet. However, it’s still worth trying to clarify the general situation on the trading floor.

Despite the fact that Russian exchanges are trying to keep up with their foreign counterparts and introduce cryptocurrencies, the main trading on them is still conducted at foreign exchanges. To register for them, in addition to knowledge of the basics of trading, basic knowledge will be required of English language.

Step 2. Registration on the selected exchange and opening an account

By the way, you can trade financial assets (currency, stocks, cryptocurrency) directly on the stock exchange. The main thing is to choose a reliable broker. One of the best is this brokerage company.

To start cryptocurrency trading, you must first go through registration procedure on the selected exchange. You will need to provide personal information. Its volume is determined by the rules of the trading platform.

For small exchanges, it is often sufficient to provide an email address for registration. For large sites you will need more information (sometimes up to passport data).

It should also be understoodthat the amount of data collected by the exchange directly depends on the size of the funds used in trading. Holders of large accounts have to provide more complete information about themselves.

In fact, the anonymity of cryptocurrency transactions is relative. Despite the fact that information about the counterparties was not disclosed, it is mandatory to be stored on the blockchain. This is the principle of functioning of cryptocurrencies.

Theoretically, the possibility of obtaining data from the parties to a particular transaction exists. However, in practice, implementing it is almost impossible.

When registration on the exchange is completed, you need to open an account and deposit funds in it to start trading.

The methods for depositing and withdrawing funds from trading floors are different. At the same time, large exchanges in most cases offer several options. When choosing from them, it is important to pay attention not only to availability, but also to availability commissionsas well as her the size.

Step 3. Choosing a cryptocurrency for work

Some exchanges offer the trader a huge amount of cryptocurrencies to choose from. In this case, you will also have to decide with which currency pair the work will be carried out.

Experts do not recommend trading cryptocurrencies, which the trader is not aware of. This prevents a qualitative analysis and, as a result, leads to a significant increase in the level of risk.

Step 4. Placement of an order for the purchase of cryptocurrency (opening a position)

Before proceeding with placing orders, it would be most reasonable to conduct a thorough analysis of the schedule for the change in the value rate of the selected cryptocurrency. Beginners often make hasty decisions based solely on intuition and advice posted on the exchange chat. Such an approach is unlikely to bring success.

Professionals always carry out transactions with cryptocurrencies solely on the basis of the analysis. They open orders only if they are confident in the persistent tendency of the course to move in a certain direction.

When the analysis is carried out and the right moment and price for entering the market are selected, you can open order. Most exchanges offer to install it with immediate execution (at current price) or with deferred - at the rate that interests the trader.

An important indicator of an order is not only the rate, but also volume concluded transaction. Experts do not recommend investing in one transaction an amount that exceeds 5-10% deposit amount. Nevertheless, each trader can independently develop a trading strategy and decide for himself what the size of his orders will be.

Step 5. Market analysis and sale of cryptocurrency (closing a position)

After opening an order, it remains to analyze the market and wait for the moment when the situation will turn in the right direction. When the rate grows so much that it overlaps the exchange commission and brings the planned profit, the moment will come closing a deal. As a result, the financial result is recorded.

When income is received, it is necessary to produce withdrawal of funds from the exchange. To transfer virtual money into real money, it is not always convenient to use the services of the trading platform itself. The commission may be quite high.

Therefore, traders often resort to help exchangers. But do not trust the first service you get. It is much better to study the conditions of several exchangers and choose the best.

Exactly following the above algorithm will help get you started. right trade and earn on the cryptocurrency exchange in a short time.

We also recommend that you read the step-by-step instructions on Forex trading and binary options trading.

4. Where to start cryptocurrency trading - rating of the TOP 5 cryptocurrency exchanges for reliability

Choosing an exchange is a crucial step on the path to cryptocurrency trading. For work, it is important to choose reliable resources that guarantee users the safety of their funds and transactions. Many experts believe that the cryptocurrency exchange Binance is №1 in the world.

For beginners, I often advise trading cryptocurrency through a broker - it's faster and easier. But it is important to choose the right company. One of the most reliable is this brokerage company.

It is not easy to independently study the conditions of a large number of trading floors and choose the best one. Comes to the rescue cryptocurrency exchange ratingcompiled by professionals.

Cryptocurrency exchange number 1. Binance

Binance Exchange relatively recently (in 2017) began its activities, but in a short period of time managed to gain a large number of users: more than 2 million people. In less than 6 months it became known throughout the world, and its turnover began to exceed 3 billion US dollars per day.

The main advantages and disadvantages of the cryptocurrency exchange Binance

Cryptocurrency exchange number 2. EXMO

EXMO features a fairly simple interface that is intuitive even for novice traders.

Other benefits include the following:

• the presence of a large number of currency pairs;
• use for input and output of payment systems, popular in Russia.

Novice users have the opportunity to carefully study the section help. In most cases, after that, working with the exchange does not cause problems.

If you still have questions, you can contact Customer Support. Operators in a short time and extremely friendly provide the necessary information.

Cryptocurrency exchange number 3. Livecoin

Livecoin is a fairly promising trading platform on which there is a Russian-language version.

The advantages of the exchange are as follows:

• simplicity and usability;
• intuitive interface;
• high level of protection of user funds;
• operational account replenishment and withdrawal of funds.

To increase revenue, users can participate in an affiliate program. It is enough to invite new customers to the service and receive a percentage of their operations.

Cryptocurrency exchange number 4. Poloniex

Poloniex - This Site is Complete English speaking. But here you can trade a huge number of currency pairs - there are more than a hundred of them on this exchange. The trading floor is registered in the USA. User verification is optional, but it is nevertheless provided.

Among the advantages are:

• a large number of registered traders;
• convenient interface;
• placement of all necessary functions on one screen;
• low commission;
• competent and efficient support service.

Cryptocurrency exchange number 5. Kraken

Kraken is the oldest cryptocurrency trading platform. This exchange began its work on the Internet back in 2011.

There are significantly fewer currency pairs on Kraken than on other trading floors - there are only 57. However, the most popular cryptocurrencies in trading on the exchange in question are used.

The size of the commission is determined depending on the volume of trading operations, as well as the status of the trader.

To facilitate the process of choosing from the presented cryptocurrency exchanges, their main features are summarized in a table.

5. How to choose the best cryptocurrency exchange - 5 main selection criteria

The Internet has a huge number of cryptocurrency exchanges. To choose among them a platform suitable for a particular trader, one will have to follow certain criteria. The main ones are described below.

Criterion 1. Reputation

It is important to evaluate the reputation of trading floors (including the duration of the market). It is not worth depositing funds on a deposit at an unknown exchange, even if you promise very favorable conditions.

To find out what is the reputation of a trading platform, it is worth first of all to interview friends opinionthat already trade cryptocurrencies. If there are none, you can pay attention to specialized forums. But do not take every word for it, often reviews on the Internet turn out to be implausible.

Criterion 2. Convenience of the interface

It is important to carefully study the interface of the trading platform. before account opening. It is much more convenient to work on the exchange if you know exactly how to perform certain actions correctly.

Great importance must be given to supported languages. In the absence of knowledge of English, you should not choose a stock exchange without support Russian. Work on it will not be easy.

Criterion 3. Number of traded currency pairs

Many traders decide in advance which cryptocurrency they will use. You can trade the most popular, i.e. highly liquid. But some still choose the less popular for trading. But far from always it makes sense to use them, since with less liquidity it is not easy to achieve the profitability of trade.

Criterion 4. A variety of tools for analysis

To start trading on the cryptocurrency exchange, it is important to learn the basics of analysis. When the basics are mastered, you have to develop trading plan. In it, you will have to take into account which tools to use to determine the moments of purchase and sale.

Accordingly, before starting trading, it is worth clarifying whether there is a necessary instrument on the exchange.

Criterion 5. The need for verification

Many traders are wary of providing the trading floor with additional information about themselves. However, it should be borne in mind that verification, that is, documentary evidence of identity, helps ensure additional security of funds. For this purpose, double entry protection can be used.

With a small amount of deposit (usually before 1 000 dollars) many exchanges admit a lack of verification. If the account size is significantly larger, you will probably have to provide your own data.

Criterion 6. Liquidity level

It should be ensured that the glass of prices is updated every second. In other words, trade should not stop for a moment. This is a sign live marketplace with a large number of users who are actively trading.

Criterion 7. Size and method of charging a commission

Everyone understands that trading platforms exist at the expense of the commissions that users deduct for them for each operation. Moreover, each exchange independently sets the size and principles of charging for its services. It is worth exploring all the options available and choosing the most suitable.

Criterion 8. Methods of replenishment and withdrawal of funds

Exchanges can offer several ways to replenish a trading account and withdraw funds from it. It is important that options convenient for a particular trader are present at the selected site.

When evaluating trading floors, based on the above criteria, you can choose for yourselfbest cryptocurrency exchange.

All of the above criteria are met by this cryptocurrency trading platform.

Useful tips for trading in the cryptocurrency market

6. How to successfully conduct cryptocurrency trading on the exchange - 4 valuable trading tips

One of the most important rules of exchange trading is conducting trading with sober mind and a cold head. Only those who act calmly, patiently counting every step, succeed.

Experts give some more tips that will help to increase the level of profit received from trading.

Tip 1. Carefully study the stock glass

Stock glass is a table that contains the applications for the purchase and sale of cryptocurrencies placed on the trading floor. It is important to carefully study it before you make a deal.

If the exchange has few applications for purchase and many for sale, the price will almost certainly not rise in the near future to a level that covers the commission and at the same time provides profit.

Tip 2. Don't be greedy

Greed didn’t bring anyone to good, including it ruined many traders. Once the planned result of the transaction is achieved, it is worth fixing it. Or at least put a restriction (Stop Loss orTake Profit)*, which will allow you to get the necessary profit with a further turn.

* Stop Loss (Stop Loss) - This is an application submitted to limit losses if the price goes in your direction.

Take Profit - a pending order, which is placed to take profits for the previously intended purpose.

Experts say that the market very often acts Murphy's Law. According to him, if a trader is waiting for the courses to grow a little more to earn the maximum, in the near future there will definitely be a decline.

Tip 3. Consider capitalization as well as cryptocurrency trading volume

Trading volume specific virtual currency determines how high will be the demand for it in the future. Capitalization it also allows the trader to understand how popular and in demand the monetary unit.

The more money invested in cryptocurrency, the more actively trading will be. In the future, this is what determines how profitable trading will be.

Tip 4. Be patient

Despite the fact that the trader should not be greedy, you should not rush either. Often traders, seeing the minimum profit, immediately fix it. As a result, profit is obtained scanty. Often traders miss good opportunities to make money in a hurry to take profits.

Experts give one more recommendation - it is worth considering a detailed trading plan and adhering to it clearly. This will help ensure discipline and increase earnings on cryptocurrency.

7. FAQ (Frequently Asked Questions) 📣

When studying such a complex topic as cryptocurrency trading, a lot of questions arise. Finding answers to them can take a lot of time. To help you save it, we answer the most popular questions.

Question 1. What are the cryptocurrency exchanges with the withdrawal in rubles in Russian?

Only 3-4 years ago, cryptocurrency exchanges were poorly developed. They offered traders a small number of currency pairs, as well as very limited functionality. MoreoverMost trading floors at that time were registered abroad and did not suit Russian users well.

The growing popularity of various cryptocurrencies has led to a significant expansion of the market. As a result, over time, trading platforms appeared that work from rubles. As a result, the number of users in the CIS countries has grown significantly.

Here is a list of cryptocurrency exchanges in Russian with a conclusion in rubles:

• EXMO
• Yobit
• Livecoin
• Localbitcoins.

Question 2. How to work on a cryptocurrency exchange with a small deposit?

To start working on a cryptocurrency exchange with a small amount of cash, you can use margin trading (from English Margin trading). It allows you to speculate in an amount several times higher than that which is on the account of the trader. In fact, the user receives money on credit at interest and trades, adding the amount received to his funds.

The margin trading scheme is as follows:

1. Search for a trading platform with the ability to conduct margin trading. In most cases, such options are in the offer of large exchanges.
2. Top up an open account and apply for a loan. Moreover, the interest rate is of great importance. It depends on the lender, as well as the popularity of cryptocurrency. The more popular the currency, the higher the rate and vice versa.
3. Next, the trader trades. At the end of the agreed period, the user returns the loan to the lender with interest, while he keeps the profit for himself.

Margin trading is characterized by some features. First of all, users are interested in the level of profit. Experienced traders margin trading manages to earn several times more than with traditional cryptocurrency trading. Moreover, the amount of profit depends on the amount of leverage received. Newbies in contrast, they significantly increase their own risks in margin trading.

The reliability level of margin trading is essentially no different from regular trading. It is determined by the chosen cryptocurrency, market sentiment and other factors.

The complexity of margin trading for novice traders average. The loan process is enough is simple and transparent. Difficulties lie directly in the trading process.

8. Conclusion + video on the topic

Cryptocurrency trading - The process is quite interesting, which, if successful, can bring considerable profit. However, before you start trading, you should carefully study analysis basics, features of cryptocurrency exchanges and other information.

We also recommend watching the training video about the game on the stock exchange for beginners:

That's all with us!

RichPro.ru wishes all readers a successful trading on the cryptocurrency exchange! Let each order bring maximum profit.

If you liked this material, share it in social networks with your friends. And if you have any questions or comments on the topic, then write them in the comments below. See you soon!

Watch the video: Top Best Cryptocurrency Exchanges in 2019 (November 2024).