The Total Beginner's Guide to Cryptocurrency Trading
How To Make Money With Cryptocurrency: Beginner's Guide 2020
Do Crypto Trading Bots Really Work? | Technology Bitcoin News
How to Trade Cryptocurrency - For Beginners
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[NOOB] How/Why do you think cryptos (mainly Bitcoin, since largest) will replace normal currency? It is always compared to other currencies in value and while trading, and I've heard that the total Bitcoin in circulation is fixed (20 mil right?) . Isn't that a disadvantage?Money will never increase?
Another disadvantage is the fact that the value of one Bitcoin is so high. Like how do you manage to say 0.00001 BTC every time? Shouldn't currencies be in hundreds, thousands? There should always be something for BTC to be compared to right? A traditional, paper currency? Only then will the value fluctuate and trade happen? You don't have to actually answer them if this question is common on this sub. A previous answer, articles or video is good for me too.
How do people day trade stocks/crypto and have enough profit to continue after taxes?
This is going to sound dumb but I just cannot fathom how it's possible to make any profit unless you're constantly making like 1000% gains each trade. If I bought 10 bitcoins for example in 2014 for 300 each and sold today at near 10k (lets pretend its all round numbers) I'd make 100k, and because it's long term holding would be about 60k after taxes in NY state due to federal state and other taxes. Then, in order to buy back in and keep the same skin in the game the price of btc would need to drop alllllll the way down to 6000 per coin to break even on your btc sales. So how can people constantly be buying and selling short term if taxes are so high, especially higher for short term sales/buys? How is this profitable at all? You'd basically have to gamble 10k to make like a hundred bucks if stocks and crypto flux a bit at a time. Is it really all volume based? What am I missing here? How is it that people claim to make these huge gains when continuing the cycle of paying more in tax on the previous trade than it takes to buy back into the market to keep making those big trades?
How do you manage / partition all your crypto dealings when it comes to trading locally and through exchanges?
When I think about how to balance security and convenience I quickly become overwhelmed. I have several questions that I've been unable to resolve for myself.
How many separate bank accounts should I have? For example, I want to open an account on an exchange like coinbase and I want to open an account on localbitcoins. Should I have two separate bank accounts for these?
How many phone numbers or phones should I have? Using the previous point, should I have one phone for dealing with the exchange and an entirely different one for localbitcoins? Related to this, should I have a different phone number on each bank account than the one I give to both the exchange and localbitcoins?
For example: bank account 1, phone #1 bank account 2, phone #2 exchange account, phone #3 localbitcoins, phone #4 How should I divide up or organize all of these things? I'm might be overthinking all of this but I can't help it. I'm freaking out because I want to get into trading but it seems like I'm going to need a dozen accounts for a dozen different things and I'm not sure how to go about structuring this.
Hello! Sorry for the probably weekly post about this. But I’m very interested in starting to invest and learn how to start trading on the stock market and crypto market. I’m wondering where to go and start. Obviously, research goes a long way. And I’ve already talked with a coworker who does a lot of this stuff. He’s recommended to me that starting out, the best places are E-Trade, Coinbase, and Robinhood. He said Acorns is okay, but slow. Any recommendations on tools to use and places to do more research?
How do you calculate Cost Basis when trading crypto to crypto ?
trying to use bitcoin.tax to calculate cost basis but it's giving me $0 on all my crypto to crypto trades... does anyone know how to calculate this manually? or are there any other reliable solutions besides bitcoin.tax? Thank you
Serious question: how do crypto enthusiasts reconcile their love of trading with the reality that criminals stand to gain the most?
Edit: it's become pretty evident the answer is "I try really hard not to think about it or dupe myself with false equivalences because otherwise I'd be forced to accept I'm making it easier for literal murderers to get away with murdering". There's also "I love money and don't care who it hurts, not my business". Thanks for your time folks. It's the one thing that keeps me from investing anything and I'm surprised it's rarely discussed here (from what I can see). http://www.businessinsider.com/north-korea-lazarus-group-behind-cryptocurrency-cyber-attack-wannacry-sony-2018-1 I'm on a phone and finding more sources I realized is making my search history look uncomfortable. But logically speaking, the only people who stand to gain from an anonymous currency are people who need to hide their identity. Drug enthusiasts are relatively harmless, but what about drug cartels? Third world dictatorships? Murderers? I guess you could argue it's no worse than criminals using cash, but that seems like a stretch. Cash can be tracked way or another. Crypto is designed to be untraceable. Does it not bother anyone that the only way crypto gains value is when these enterprises gain momentum?
Crypto traders, what defines success to you? How do you approach trading? Do you have daily/weekly/monthly goals? How do you decide what to do everyday?
Just wanted to start a discussion on how pro and am traders here approach their trading. Do you have daily goals to make $X amount of money, to make Y trades? To do 2 hours of research every day? To grow your portfolio Z% a quarter? Any approach you have I would appreciate hearing about. I'm not a trader (just a hodler) but I'm learning a lot about crypto so I can take advantage when possible. Just think this is an interesting topic and would like to hear as many perspectives as possible. Please tell me your philosophies and portfolio strategies! We all have different goals (in crypto and life) so everyone is welcome to comment!
We can't deny that cryptocurrency has gained a lot of popularity over the years. The more mainstream attention it receives, the more interested people there are who want to try their hand in the market. To do that, they of course need to properly understand how to trade crypto.
Wow! Amazing! How much they've opportunities to do participate in the international campaign #Bitozz By investing in a project , you’d building the future! #Bitozz #Exchange #Blockchain #Trading #Crypto
Let’s do the reality check, crypto trading has gone totally wrong. You spend too much time monitoring markets, switching between multiple accounts and searching for the best rates and pairs. It doesn’t have to be so complicated… How about something better?
Also, I do think this is actually quite useful (and I already hit the referral cap, so no incentive for me to say so). Many people get their first crypto by a friend giving them $10. Now you can have Stellar do that for you, and they can also learn how to trade it into Eth 😎
How do you know when crypto-to-crypto trading is worth it?
So i haven't done any trading, but there's this question i've been trying to answer and convince myself one way or the other, and it is something the FOREX people have probably dealt with before. Maybe you guys can help. The scenario is as follows. Say I have X Bitcoin, and say i know that ETH is going to increase in value vs Bitcoin. Wanting to capitalize on that I would buy ETH (because ETH-BTC is low) and then tomorrow when ETH has increased in value I'd sell it and get Y BTC where Y is greater than X. So now I have more BTC than I started with. However, could the increase in value of ETH vs BTC not be because BTC has dropped in value (so BTC-USD is lower than when i started)? And could this decrease not be large enough that if I were to transfer my BTC to USD, despite having more BTC than at the beginning, they would be worth less than the X BTC that I initially had?
Is it possible to paper trade on Bitmex to get an idea of how my strategies will do using perpetual contracts vs. “Futures contracts”. While I am familiar with real futures contracts such as those on the CME the crypto versions with the various fees and interest rates are a new dynamic.
How do I report crypto trades to IRS without record of every trade
This year, I've been actively trading crypto currencies. I've made hundreds of trades across various exchanges, so I have a hard time coming up with the record of every trade I've made. Even then, it would be a huge pain to translate it to a dollar cost basis since most of my trades have been coin-to-coin and not coin-to-dollar, and the price of single coin fluctuates throughout the day and between exchanges. I know how much money I withdrew from my bank. And I know how much money my holdings are worth if I deposit in my bank. I feel like the most honest thing I can do is to just subtract the two and report the profit in one line. My total holdings are less than <$10k, but I've definitely traded over >$20k worth in volume. Also to make things more complicated, this is the first year I'm filing taxes since I have been a dependent until this year.
How do you find new crypto's to trade or invest in and how do you track those investments?
I just started using one tool the other day to stay up to date on the crypto space (in the loop they call it). Their AI signals have been really good so far and the data is good too: https://coinloop.io I was wondering if anyone had used it before or have other tools that they use.
Do Crypto Trading Bots Work? When you are a newbie in the world of cryptocurrencies it is natural to puzzle and uncertain. You can either store the coins for the long term expecting the prices to rise or you could use an automated trading bot to generate profits by conducting regular trades after analyzing the market. Crypto trading and investing, for many, is more than just price action: It’s also about understanding the tech, the philosophy, and the constant changes to this fascinating new world. That can How do Crypto Trading Bots and human traders differ? There are a number of core differences between trading bots and human traders. First, bots have the luxury of operating all day, every day, with no need to take a break. They can monitor markets without losing concentration or being distracted. That’s impossible for people. In this guide, let’s talk about how to trade cryptocurrency. Reading Time: 20 mins Anyone who is remotely interested in learning about crypto has taken part in some form of trading. As it gets more and more mainstream attention, newer players want to enter the market and get their slice of the crypto pie. So, to help those people enter this exciting market, we have created this By investing in a crypto trading bot, you can have something automatically buying and selling at the right time based on thousands of data points instead of having to manually guess or look at a screen 24 hours a day. The bot will do the trading for you.
Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Da... Coinbase Pro Tutorial 2019: How to Trade with Market Orders, Limit Orders & Stop Limit Orders. In this video, I show you how to deposit your funds into your ... Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questio... This is the ultimate guide on how to buy cryptocurrency like Bitcoin, Ethereum, and other cryptocurrency for beginners. Link to the article version of this g... For the beginners out there who want to know what to do with your coins after buying them... this video is for you! I introduce a variety of strategies that ...