Consider a national currency as a security, like stocks, commodities or precious metals. The recipe for success is to buy it at the cheapest price and then sell at a higher price. Or the other way round – sell at a higher price and then buy cheaper. Whether a currency is increasing or declining in value, there is always a way for you to make money in Crypto! Knowing the right time to buy or sell will do the trick. This is where market analytics, indicators, signals and automated trading systems come in handy.
Let's consider an example:
Currencies are traded in pairs. For example – BTC against US Dollar (BTC/USD) or British Pound against Japanese Yen (GBP/BTC). A Crypto transaction involves buying one currency and selling the other currency at the same time.The exchange rate reflects the value of one currency against the another currency, For example, the quote BTC/USD 0,93160/0,93170 shows, how many BTC you need to pay to buy or sell 1 US Dollar. Currency exchange rates are always fluctuating depending on the time of the day, the country's central bank rate, government policy, market sentiment and many other reasons.
Let's assume the market forecast the Euro is going to appreciate against US Dollar (bullish trend for EUR/USD). You decide to buy Euros with USD (buy order on BTC/USD). After some time you decide to sell the Euro at a higher price (close the open BTC/USD position). Your profit is the difference between the opening and the closing prices.
In order to attract traders, many Crypto brokers, including Assetrow, offer to start trading without a starting deposit. You can start trading with us without money from $10, which are credited to you as a welcome bonus to a newly opened active STP account after passing the verification.
Remember that Crypto trading involves high risk. There are limitless opportunities to make profit and your potential gain is very high. However, the risk of loss is high as well. If you make an independent and informed choice to become a Crypto trader, you should always follow the basic risk management rules. It's not an easy task but it's very important whether you trade with a few hundred dollars or operate millions.
Taking a good Crypto education course may be the best investment you'd ever make in your trading career. Take your time to study the basics of trading and practice it in a demo account before you start trading with real money. Always be sure to follow the rule - never trade with money that you cannot afford to lose.