I have read many complaints about users funds reducing or outrightly disappear on hotbit exchange. I use the exchange when there is no alternative for trade I want to make. I will advice that you do not trade big amount on the exchange and make sure you do not leave your coin on the exchange. The coin that are in your wallet is truly the coin that belong to you!
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Gas fee is high on ethereum network due to many projects making use of ethereum network. What you need to do before making transfer or swapping on dexes is to first check the geek, If the gwei for gas is high, your gas fee in ethereum will be expensive. If gwei is low, then your gas fee in ether will be cheap. Gas tend to be cheap on weekends and at 3. Am utc!
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As far as trading is concerned, nothing is written in stone. These reason listed may be the reason for good trading tommorow. I think the most important to do list for any trader at any level is to have a plan and a strategy, every other things should fall into place, all things been equal or not. Trading Cryptocurrency is dynamic and spontaneous!
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I try not to to trade on weekends rather, I think about my week trading and do some post moterm of my strategy. Since I usually document my thought, action and inaction and the consequences, I try to see where I have lagged behind and score where I gave done well. These review help me to do better next time. I do not trade on weekends!
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This month's have been positive for bitcoin and altcoin will respond to bitcoin movement. I am hoping to see ethereum at $5000 , Solana will also reach a new ATH. I am also cautiously optimistic about other coin like fantom, polygon and kusama. I believe these coin will respond positively to bitcoin movement.
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I will advice like a newbie. If I were holding $4000 as a capital for investment in Cryptocurrency, I will invest that fund in bitcoin in three phrases base on 15,.25 and 60 percentages! The bitcoin is at the highest and it could go further up in price or, dump 50%. Or even dump further more. I will make sure I use planned percentage of my fund in each of these situations!
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I think as soon as people start to believe bitcoin will drop in in price, people will start to move their funds to altcoin that are doing well and has great potential for growth! These movement of fund may coincide with optimism and that could trigger altcoin rally. If bitcoin test another ATH, the altcoin rally could huge!
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These advice are solid. In addition, I will like to say that you must understand the difference between urgent, important and less important entry. Sometimes in trading, you may discover that a certain coin is oversold and that will not be the time for you not to be in a hurry. You must buy as a matter of urgency. You must be able to apply these actionable activities in different coin prices scenarios!
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Spot trading is good and once you are clear about which coin to buy and when to sell, your risk is reduced significantly. The only threat to your fund is the exchange itself. Future trading is not difficult as many would have you believe. The same position you take in spot is applicable on future. The only difference is the duration and the leverage used!
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Most exchanges before now only require simple email address for registration and you are good to go! The exchanges requirements include compulsory kyc! However, I believe you can still do whatever you want to do with your bitcoin. There are sidechain project like RSK, renbtc that operates decentralized exchange where you could trade your bitcoin seamlessly without third party, do give a try!
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Your country shouldn't be a limitation for you to trade or purchase bitcoin. Bitcoin was made for this kind of situation. I believe there are people in your country who will be willing to sell bitcoin for you. And when you are ready to turn your bitcoin to fiat, I believe there will be people who will be willing to. Bitcoin is unstoppable and not even exchange can stop bitcoin as a means of payment and transaction!
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The bitcoin is doing great at the moment and I don't think there will be a dump like we witnessed in April! Bitcoin in a matter of days may consolidate and found another support before new ATH! Taking profit without proper analysis we lead to losses of gain if you have held your coin! There is still room for growth and bitcoin will definitely test another ATH!
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As you have stated that you will be willing to lose $100, my question is this, will you be able to lose $100 after up to like 10 times? Trading Cryptocurrency required a lots of practice and starting with shit coin is not best way to start trading as technically analysis for these kind of coin are almost impossible because of it's nature! Buy bitcoin and learn how to trade it from technical analysis point of view!
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I doubt if Arbitage is as profitable as it's used to be. The Cryptocurrency market is more open and software are more advanced these days! The abitrage opportunities are not there. Those exchange that seem to provide abitrage opportunities are likely going to be scam exchange as your money may be stuck there.
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Firstly, altcoin trading and investing is a bit more risky, you could buy a useless coin that could have been promising at beginning but you will realize along the way that it was a planned rug. If you are not investing in bitcoin, you may have nothing to show for your trading activities. If you are going to invest in altcoin, choose the established altcoin. Secondly, you must have a detailed plan on your investment, from entry price to expected return you aiming for. You should also be able to trust yourself to follow the plan to letter.
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Trading Cryptocurrency is easier more than other traditional stock market trading. The decentralized nature of Cryptocurrency and the fact that the ideology of financial freedom, owning your finance, be your own bank has helped many developers to develop software that made it easy for anyone to own and trade it. We can safely compare Cryptocurrency with American dream people love to pursue! So, Cryptocurrency have helped everyone not just the youth!
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Bitcoin is solid and the volatility been experienced is as a result of human factors! The greed and fear is big component of trading and as such, it can not be regulated nor control! There are whale who control the market as well as Cryptocurrency is a decentralized market which is the main attraction for those that want such a market.
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The best way to learn Cryptocurrency is to observe and documents the market movement and price of your selected coin, keeping up with industry news and latest developments. Another learning experience is to actually trade in money you can afford to lose why you documents your experience for future reference!
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It is important to understand Cryptocurrency market and how dynamic the market is. Learning basic language of traders and trading discussions is basic for the newbies. You should understand short position, long position, shorting, longing, resistance, support etc. These vocabulary will help you to copy trade and understand what is been said!
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Cryptocurrency trading is not an easy work, a lots of factors comes to play in your ability to make profit. Traders work hard and trading is a very lonely job. If you make profit, or loss, you are solely responsible and on your own. Traders have higher standards for earning a living and expect others to up their standards as well!
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