Altcoins 10 steps for novices to start cryptocurrency trading Published 5 months ago on June 3, 2018 By Coinnounce - Coin Announcements Share Tweet Cryptocurrencies are widely being adopted after the governments of various countries realized it’s importance. Investing in the crypto world is an art but if went wrong for any reason then the results could be catastrophic. For the newbies in the field of cryptocurrency investment, there are a number of prerequisites to actually start the trade and they are explained below: Know how Blockchain works. The Blockchain is basically a distributed ledger of records of transactions in the form of blocks. It is a continuously growing record that is secured from cryptography. It is inherently by design that the ledger is immutable i.e, it is resistant to the modifications of data. The decentralized nature of the technology is the one thing which makes it highly secure and prevents hacking and the security increases with time as more and more people join the Blockchain network. Know top cryptocurrencies. The cryptocurrency topping the list is undoubtedly Bitcoin. Bring the first in the race of crypto coins, Bitcoin has some unseen advantages as the crypto even accounts for almost more than 50% of the total cryptocurrency market. Other prominent ones in the field are Ethereum, Litecoin, Bitcoin Cash, etc. The whole list can be viewed at coinmarketcap.com Knowing all the risks. When compared to the traditional stock market, the cryptocurrency market is very unstable. The reason is that the size of the market is still very small and hence it renders higher volatility. The sentiments of the public may vary according to the kind of belief that the major players in the Crypto market have. The FUD driven market is very dangerous one where one negative decision can render the market fall considerably. Read Bitcoin news daily. As discussed below and that the cryptocurrency market is so much driven and influenced by the news in the media. Hence it has become very important that one must keep themselves updated with the latest news in the field. A few possible sources for the best and the most updated news are. Coinnounce Coindesk Bitcoin Magazine Business Insider The Street Coin Telegraph Cryptocoin News Quora CNBC Brave New Coin Reddit Opening a brokerage account. Coinbase is entitled to be one of the best Crypto platforms for the trading of cryptocurrencies like Bitcoin, Litecoin, Ethereum, and others. It has two separate but we’ll integrated products: Coinbase and GDAX. Also the most notable part is that the company manages to abide by all the regulations set by the financial firm of the country. The simple Android and iPhone apps provide a seamless interface in order to trade that the cryptocurrencies. Fund the account. Verification is necessary after the creation of the cryptocurrency account in order to meet all the requirements of the regulations by providing a soft copy of the passport or driving license. Following which the payment method can be set and respective payment method as credit card or debit card can be chosen. It is to be kept in mind that coinbase charges a transaction fee of 3.99% for all the credit card transactions. The users can also select PayPal as a payment method. Finally, move money into your cryptocurrency account. Try buying and selling once the cryptocurrency account is ready and fund then the enthusiast can go ahead and try out using the cryptocurrency for various transactions. A single Bitcoin need not be used completely for the transactions, but fractions of about ⅛th of the value can be used. Upgrade to GDAX. Once the beginner has tried out a few transactions and have and has become very handy with the procedures, then it is assumed that it is the perfect time for them to graduate themselves to the professional platform where we can transfer the cryptocurrencies between two exchanges very easily. Study the charts. The cryptocurrency market trends can be understood by studying the price charts, therefore, doing a market analysis. The general concept behind analyzing the charts is that to get an insight of the general direction of the movement of the cryptocurrency. Set limit orders. A number of provisions are provided by the many Android applications. They provide provision to set the limit Orders and once the limit is reached by the cryptocurrency a notification is sent to the user or the order might automatically get executed accordingly. Related Topics:AltcoinBitcoinBlockchainDecentralized Up Next The uncertain future of cryptocurrencies in 2018 Don't Miss Is Bitcoin Gold a Scam? Continue Reading You may like XMR Daily Trading Signals: 24 October ADA Daily Trading Signals: 24 October XRP Daily Trading Signals: 24 October BTC Daily Trading Signals: 24 October Johnny Depp partners Ethereum Dapp Tatatu XLM Daily Trading Signals: 23 October 1 Comment 1 Comment Pingback: Blockonix to launch the World’s Best Decentralized exchange on 20th July. | E-Bitcoin News Portal Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Daily Price Analysis XMR Daily Trading Signals: 24 October Published 60 mins ago on October 23, 2018 By Azeez Mustapha Dominant bias for MONERO (XMR)- Ranging Resistance Levels- $114.00, $116.00, $118.00 Support Levels- $104.00, $102.00, $100.00 XMR is in a range-bound market. The bears lost momentum at 106.24 in the support area on 22nd October. The bulls’ gradual return was signaled with a bullish engulfing candle that broke the 34 EMA and XMRUSD was up at 107.98 in the support area. Increased bullish momentum saw XMRUSD at 112.85 in the resistance area on 23rd on October. but closes with a wick which implies the bear are gradually back within the range XMR 4-hour chart XMR Price is above the 34 EMA and the relative strength index is at 66% but it signal points down which implies downward movement within the range may occur. XMR is in consolidation and trading between $112.42 in the upper resistance area and at $105.14 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position. Continue Reading #Cardano Price Analysis ADA Daily Trading Signals: 24 October Published 1 hour ago on October 23, 2018 By Azeez Mustapha Dominant bias for CARDANO (ADA)- Bearish Resistance Levels- $0.08800, $0.09000, $0.09200 Support Levels- $0.07000, $0.06800. $0.06600 ADA is in a bearish trend. After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south. ADA 4-hour chart Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable. The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target Continue Reading #Daily Price Analysis XRP Daily Trading Signals: 24 October Published 1 hour ago on October 23, 2018 By Azeez Mustapha Dominant bias for XRP- Ranging Resistance Levels- 0.6000 $0.6500, $0.7000 Support Levels- $0.3500, $0.3000. $0.2500 XRP continues in a range-bound market. The bears successfully took control of the market after the formation of a bearish railroad at $4617. XRP was initial down to $4567 and later to $4444 in the support area. Attempts to continue the downward journey within the range was rejected as a doji was formed, a good signal for reversal. The bulls did return and took XRP to $4853 in the resistance area. XRP 4-hour chart The morning star formation was confirmation for the bullish takeover within the range. The price rose $0.48534 in the resistance area. Price is above the two EMAs and the stochastic oscillator at 45% and its signal points up. This implies upward price movement within the range due to the bullish increased momentum. XRP is in consolidation and trading between $0.4819 in the upper resistance area and at $0.4425 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction. 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