How to make money with BTC/Altcoin

[Bobray]

Hello there,

This is my first forum post.

Lately I have been reading up on a lot of articles about bitcoin and altcoin trading.
I have become interested in this and want to learn how this works. I have a very
limited amount of money I can work with, but not enough to make real profits. I
just want to underdstand the principle by practice.

I have read a bit about pump and dump techniques, but since I obviously won't be
able to manipulate the market on my own this won't be an option. There are of course
people who will let you in on the next pump and dump, but they would start buying up
long before letting you in.

I could of course just buy up some bitcoins since the emission rate will half at the end
of next month, but that just doesnt seem interesting to me.

What are the most effective ways of making profit while trading btc/altcoin and what
are your experiences with it?

Also, what would be the best way to do altcoin trading with minimum investment?

[Bobray]

For instance, what trading software do you use to trade cryptocurency.

Is it worth doing it manually or should I set up a trading bot using some kind of software?

[BruceLee007]

Hello there,

This is my first forum post.

Lately I have been reading up on a lot of articles about bitcoin and altcoin trading.
I have become interested in this and want to learn how this works. I have a very
limited amount of money I can work with, but not enough to make real profits. I
just want to underdstand the principle by practice.

I have read a bit about pump and dump techniques, but since I obviously won't be
able to manipulate the market on my own this won't be an option. There are of course
people who will let you in on the next pump and dump, but they would start buying up
long before letting you in.

I could of course just buy up some bitcoins since the emission rate will half at the end
of next month, but that just doesnt seem interesting to me.

What are the most effective ways of making profit while trading btc/altcoin and what
are your experiences with it?

Also, what would be the best way to do altcoin trading with minimum investment?

well easiest way to earn money with bitcoins and altcoins is trading, best way to do altcoin trading with minimum investment is to keep eye on some altcoins and when one of them price falls, buy as many as you can and then wait for any price rise and sell, and keep doing this

[talkbitcoin]

it depends on you and what are you planning to do.

for example you can start trading like a lot of us just by going to the exchanger's website and placing orders on your favorite altcoin and the price you like to buy/sell and make profit that way.

but also if you are interesting in alternative ways of trading and making it easier on yourself you can use bots, but they are not magic they just offer a couple more features that may or may not be even useful for you per se'.

[Bobray]

it depends on you and what are you planning to do.

for example you can start trading like a lot of us just by going to the exchanger's website and placing orders on your favorite altcoin and the price you like to buy/sell and make profit that way.

but also if you are interesting in alternative ways of trading and making it easier on yourself you can use bots, but they are not magic they just offer a couple more features that may or may not be even useful for you per se'.

Thanks for the replies. What website/software could I best use or do you use to look at the altcoin charts. And what websites do you use for your trading (with or without bots)

[BTCLovingDude]

....

Thanks for the replies. What website/software could I best use or do you use to look at the altcoin charts. And what websites do you use for your trading (with or without bots)

for charts use coinmarketcap.com to see all the altcoins that are available with their prices, charts, and places that you can trade each of them.

i use bittrex for trading altcoin.

[bitcoinbox]

Hello there,

This is my first forum post.

Lately I have been reading up on a lot of articles about bitcoin and altcoin trading.
I have become interested in this and want to learn how this works. I have a very
limited amount of money I can work with, but not enough to make real profits. I
just want to underdstand the principle by practice.

I have read a bit about pump and dump techniques, but since I obviously won't be
able to manipulate the market on my own this won't be an option. There are of course
people who will let you in on the next pump and dump, but they would start buying up
long before letting you in.

I could of course just buy up some bitcoins since the emission rate will half at the end
of next month, but that just doesnt seem interesting to me.

What are the most effective ways of making profit while trading btc/altcoin and what
are your experiences with it?

Also, what would be the best way to do altcoin trading with minimum investment?

well easiest way to earn money with bitcoins and altcoins is trading, best way to do altcoin trading with minimum investment is to keep eye on some altcoins and when one of them price falls, buy as many as you can and then wait for any price rise and sell, and keep doing this

I think this is a good advice. Basically it is more or less what I do and I'm quite successful.
To trade Altcoins, I watch very much the charts and I have to say the MACD is very helpful to buy cheap and sell expensive.

[BitcoinSupremo]

Thats very easy to say ,but extremely difficult to achieve if you don't know very well information regarding the Altcoin you are trying to trade. I can make as an example DOGE price which was 121 satoshi the highest now is almost 50 satoshi, I don't think it can be bought now, cause I think it has no more power to advance forward, so watchout in this pair DOGE/BTC you can lose big here if you have not studied the market.

Study is the best option to give you possibility to make money with Altcoin, I guess Ethereum is one coin to keep an eye on it and also DASH.

[pooya87]

~~ I have a very limited amount of money I can work with, but not enough to make real profits.~

you don't need a big amount to start trading, you can start with a very tiny amount and learn how things work and test yourself.

I have read a bit about pump and dump techniques, but since I obviously won't be able to manipulate the market on my own this won't be an option.

you will need a lot of things, i won't go into details but the first thing is a lot of money.

There are of course people who will let you in on the next pump and dump, but they would start buying up
long before letting you in.

it is good that you know this already. a lot of others have fallen victim to their scams.

I could of course just buy up some bitcoins since the emission rate will half at the end of next month, but that just doesnt seem interesting to me.

What are the most effective ways of making profit while trading btc/altcoin and what are your experiences with it?

Also, what would be the best way to do altcoin trading with minimum investment?

the easy and lazy way to make profit is to buy bitcoin now and wait for the rise.
and as for altcoins you have to find the good ones on your own, nobody will announce what is good and what they are going to buy unless they are trying to sell their own bags here by telling other to buy into their sell orders.

[Alternate TA]

- Read, research and educate yourself before you do any trading

- Don't follow twitter hype

- Beware of twitter parasites who seem to have many followers/retweets/likes, look at their twitter history

- If you can't make decisions yourself, then don't trade

- Stay away from dead coins (not shitcoins) with extremely low volume, as you might be tempted in buying for a wishful 5x and you end up not being able to sell.

- Don't think of trading as gambling

- Practice technical analysis and experiment with different indicators and different timeframes

- if you are the patient type, then look into trend trading

[HeroCat]

One of most popular methode is - mine altcoins and then exchange them to Bitcoins. Or Forex market, which is very popular in profit making. 

[TReano]

trading altcoins includes a lot of fraud / insider trading. You will most likely just be feed especially when you are new.


You can actually try out Forex/Commodities trading. It's suitable for new trader and the liquidity is insane.
Take a look at the threat I opened for this -->
https://bitcointalk.org/index.php?topic=1348351.0

[trashman43]

alt trading is about 10-baggers (trades where you can 10x or better). youre gonna have some losers that go nowhere, so your winners need to pay for your losers, and then some. i only buy alts during consolidations after they have fallen quite a bit. often an alt will go sideways for months before a quick spike upwards, in which you can sell 5x-15x higher.

[mrhelpful]

Just know the risks of every route you take.

Thats the best advice I can give, since the rest should be doing your homework digging around on this forum.

Have a checklist, pick a route, weigh your odds, and then make move if you feel comfortable..

As for your picking which side of what to do or focus on, alt coin or bitcoin. Its debatable cause some people had the success of cashing out alt coins and others did not.

[Bobray]

Thanks for all the replies guys,

Its been very helpfull! But since the power of cryptocoin is that it can be
devided into very small pieces, it doesn't realy matter what your buying power is,
since you can either buy $20 worth of an expensive coin or $20 of a cheap coin.

So the only difference is wether the market is volatile right? So isn't buying bitcoin
when low and selling when high practically the same as trading altcoin if the market
is volatile?

[Herbert2020]

Thanks for all the replies guys,

Its been very helpfull! But since the power of cryptocoin is that it can be
devided into very small pieces, it doesn't realy matter what your buying power is,
since you can either buy $20 worth of an expensive coin or $20 of a cheap coin.

So the only difference is wether the market is volatile right? So isn't buying bitcoin
when low and selling when high practically the same as trading altcoin if the market
is volatile?

it is all the same thing, but the times are different. and also there is a very big difference between bitcoin trading and altcoin trading.
bitcoin has always been a bigger market with more stable prices while altcoins are a variety of things, they are scams, dead coins, ....
a lot of altcoins are super volatile to a degree that the price can go 700x in one day or it can go minus that amount in the same amount of time because the market is smaller and there are whales pump and dumping them.

[Denker]

alt trading is about 10-baggers (trades where you can 10x or better). youre gonna have some losers that go nowhere, so your winners need to pay for your losers, and then some. i only buy alts during consolidations after they have fallen quite a bit. often an alt will go sideways for months before a quick spike upwards, in which you can sell 5x-15x higher.

Good post. It's true that altcoins have to give you a decent return compared to the risk of getting out with nothing.
And buying bottoms and getting in and accumulating after a bubble had burst is hopefully common knowledge.If you're brave you can short during that time as well.

[Red-Apple]

you don't need bots to be successful in trading, although these bots if they are coded good can make things a lot easier and go faster in some cases, they are not necessary and a lot of traders don't even use them.

and if you are just starting your tradings i suggest you keep things simple and learn how to do it successfully then in time if you felt the need for bots you can search for them by then.

[bitdumper]

You should take a look at technical indicators, when I started I  used babypips.com, it's a little forex oriented but gives the sight about indicators. Also keep an eye over the news.

[Olaf]

If you do decide on taking the route of the altcoin to gain more bitcoins.

You need to make sure that you dont have to invest the altcoin with your own btc. Some people might come across as the dev alt coin as scammers.

Luckily there is a website last time I checked that they provide the service for naming the coin and the full package so the leg work is done.

Just need to figure out how to create the demand for your alt coin - if you still choose this path.