When cryptocurrencies first broke out, it was easy to get rich just from holding them long enough until they reached a value worth selling for. However, with the amount of scam ICOs that have been happening over the last decade, investing in a start-up token is not the strategic move it once seemed to be. So much so that a faction of the cryptocurrency community holds Bitcoin as the one secular coin and discourage any trading or investment in other cryptocurrencies.
While that is an extreme scenario, investing in ICOs can be dangerous, but that’s not the only way to make money with cryptocurrency. Another method that is perhaps more work-intensive is day trading. Essentially you stick to the coins that you know and trust like Bitcoin, Ethereum, Ripple, and other house-hold names. Then you take advantage of their high volatility to buy low and sell high to maximize profits. This may sound confusing so let me explain the concept more simply.
Let’s say today the price of Bitcoin is at $100 a coin (long gone are those days, but 100 is a simple number to do the math with for this example), so you decide to buy one. Two days later, you notice that the Bitcoin price has gone up to $150, so you sell your bitcoin. Excluding transactions fees, you have made 50$ in addition to getting back the original 100$ you put into buying your first Bitcoin. Now, you can wait until the price goes down to $100 again and buy 1.5 Bitcoins, and so on.
Basically, that is the concept of day trading, however as you probably expected, in order to maximize your buy/sell margins, you have to know what to look for and how to read the market. There is no better way to get informed on all things trading than by going to BitDegree! They offer a large selection of trading classes, and we have collected the top 3 classes we love and that we think will benefit you the most as you start your trading journey.
- Option Trading Strategies for Earning Regular Income – Course Description: “If you’re looking for a way to make some money as a side job (and eventually even make it your full-time job), one of the more popular activities that would help you do that is options trading. As time goes on, more and more people consider it a viable option (no pun intended) for making a significant amount of income. However, before you can get started with options trading, you need to find out the best ways to do it – and this course will offer you 3 options trading strategies that will skyrocket your success in trading options! “ https://stude.co/685782/options-trading-strategies
- A Trading Technical Analysis Course That’ll Teach You How To Trade – Course Description: “Have you ever wondered how professional traders become, well… professionals? From an outsider’s perspective looking in, it might seem that these people are born with the ability to foresee great trading opportunities. However, once you look into it from a deeper perspective, you can see that they have put in countless hours of work and analysis to perfect their analytical skills and get to where they are. All of those hours may be cut in half, however, if you have a great source to learn from. And this trading technical analysis course, which will teach you how to trade, is precisely that source. “ https://stude.co/685782/technical-analysis-course
- MQL5 Tutorial: Learn How to Automate Any Meta Trader 5 Trading Strategy – Course Description: “Show me a man who doesn’t like the idea of making money while they eat, sleep or spend time with their families? Yes, we’re talking about automated trading here, and for this, you need reliable tools that will help you build your trading frameworks. MetaQuotes Language 5 (MQL5) is considered as a must programming language to build trading robots and technical market indicators now and for the future. Developing scripts and function libraries, MQL5 focuses on automating the trading processes and facilitate operational analysis. On top of that, MQL5 uses an extensive source code library for writing trading programs, directly addressing the needs and requirements of today’s traders. In this MQL5 tutorial, you’ll understand what is MQL5 in general, and learn about the various functions incorporated in the language that make it a perfect tool which will change the balance of your or your clients’ Forex trading accounts. “. https://stude.co/685782/mql5-tutorial
We hope these courses help you get started on your trading journey. Remember that learning is a never ending endeavor, so always stay up do date on the latest news and developments to succeed in trading.