Get To Know Blockchain And Cryptocurrency With Their Usefulness.Part 4

image credit

What is cryptocurrency trading platform?

This is exchange platform that offers the service of buying and selling of bitcoin to altcoin or vice versa

Remember I said in the part 2 that Altcoin stands for alternative coin and they are other cryptocurrencies apart from bitcoin. Dash, Monero, ripple, e.t.c are example of altcoins

Which trading platform is safe and secure for traders?

There are hundreds of trading platform but we'll stick to view that we've tested and trusted as at when this tutorial is been posted.

Listed below are the number of recommended trading platform.

• TuxExchange

• Bittrex

• Bitfinex

• Bitmex

• Kraken

• Poloniex.

Listing of the following exchanges in the list have been tested before, and they different altcoins to trade in feel free to register and deposit your initial investment amount on those sites or any other you feel is better just try and invest at first with the amount you can afford to lose as you can be at huge loss, if you trade without caution at this point, we'll call it a day.

Cryptocurrency trading is mostly categorized into two part

1. Day Trading

2. Long-term trading

What is day trading?

This style of bitcoin trading is quite popular worldwide; This is the kind of trading where trader closes their position by the end of the day or within a specific time frame. Day traders strategies are is to get a daily profit, and this can be profitable or the turn to loss of wealth. Trading this way required a lot of research and practice to perfect the skills good enough to profit else one will be losing his money.

What is Long term trading?

This type of trading involves a trader buying some Bitcoin or any others altcoins in expectation of it to go higher in the future. Long-term trading is basically the opposite. It's just all about buying a good and hoping the good’s price will rise with the trader profiting from it.

Now that we understand the strategies of trading, choose one that suits your style. Both are highly profitable depending on your tactics for a pump or dump to occur to a cryptocurrency, there's always a tussle of power between the bear and bull,

We term it a bear and bull market

What are bear and bull market?

In layman term, it's basically a struggle between two parties to determine the market price either to go in an upward trend or downward trend

A bearish market is after the price going down due to increase selling, While a bullish market is after the upward movement of the price by increasing it's buying/purchasing power

As the saying goes,> He who has the pipe dictates the Piper

In this case, > he who has more bitcoin, dictates the price

That's where WHALES come into place;

If you're wondering what's whales, check Part 2 and read about it, now that we're through with the strategy of trading it's time to start trading.

---

Hope you've all opened an account with any cryptocurrency trading platform of your choice and made your initial deposit?, Sit back and relax as we are about to go into the art of buying and selling of cryptocurrency

❗️Really appreciate you guys for the checking my bloging❗️

Here are some helpful tips to get you started

Exchanges to Trade:

• TuxExchange
• Bittrex
• Bitfinex
• Bitmex
• Kraken
• Poloniex

Websites for Charting:

• [BitcoinWisdom](https://bitcoinWisdom .com)
• [CryptoWat](https://CryptoWat .ch)
• TradeBlock
• Tradingview.

Good YouTube Videos To Watch And Learn From.

Video 1

---

Video 2

❗️Security Tip:

• Use 2FA on all accounts
• Add pin only access on your mobile phone provider
• 2FA on all email accounts
• Enable 2FA on deposits & withdrawals & trades if possible

❗️Information: Trading on others advice is the best way to lose money, yes there are respected names in the industry but even they get it wrong. If you're new, its best to paper trade (trade without real money) if you can prove you make money consistently for 6 months, then you're ready to trade with real money.

All advice given here is to be taken at own risk, we have no affiliation with the exchanges and exchanges can be hacked. If an exchange gets hacked, your funds could be lost with no recourse, so be careful.❗️

Thanks for reading and be expecting the next part of this. Don't forget it will be coming part by part till it get to how to make some cash with crypto.
Part 1
Part 2
Part 3

Thanks and keep Steeming