Crypto coin trading platform
Coinage is the BTC trading platform which guarantees its users that they can trade safely and easily.
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Top 5 trading platforms for cryptocurrency in the philippines: best exchanges
Philippines is the country which actively develops DLT and crypto coins. The technology’s position is strengthened by numerous DLT-based startups and the country’s welcoming regulatory environment.
In june 2018, the philippines’ cagayan economic zone authority (CEZA) has announced that 25 trading platforms would get licenses to work in the country.
The authorities of the country have already presented licenses for legal operation in the country to 19 companies. The licenses have been prepared by the cagayan economic zone authority (CEZA). Now the authority is considering if licensing eight more firms.
Best platforms where to trade and invest in crypto coins in the philippines are presented in the article.
How to choose the trading platform?
To choose the suitable service, it is crucial to pay attention at certain elements.
Available currencies
Most of the times, BTC and USD are the currencies widely accessible but if the other cryto coin or fiat is needed, the platform with the standard pair will not be suitable.
Trading elements
Trading elements play an important role as crypto buyers and sellers have to consider hedging, stop loss features and other options which can give more control over trading.
Support and comments
Before joining this or that platform for trading crypto, users have to make sure the project is not a scam. To check if the platform is trustworthy or not, it is necessary to pay attention at the working customers’ support and the evaluations of the service by other users.
Best philippine trading platforms for crypto
Coins.Pro
Coins.Pro is the first crypto coins’ trading platform in the philippines. It is a part of coins.Ph – the digital wallet which has gained a lot of trust among the country’s citizens.
The trading on coins.Pro is only accessible to the registered users of coins.Ph, so, it is important to start an account there. The account is needed to transfer funds, and it is possible to send PHP, BTC, ETH, BCH, LTC or XRP.
Coins.Pro trading platform’s goal is to make the crypto trading cheap and fast, as well as to reduce the costs.
The philippine digital asset exchange (PDAX) is the trading platform which has been licensed in september 2018.
The platform enables filipinos to trade digital coins, utility tokens and various digital assets. Such coins as BTC, BCH, ETH, LTC and XRP are available for trading with the fiat currency of the country – PHP.
The platform guarantees competitive prices and availability of assets. The amount of fees depends on how actively users trade and can be as low as 0.05% per transaction.
Coinage
Coinage is the BTC trading platform which guarantees its users that they can trade safely and easily.
The head office of the company is located in california, however, it is only possible to trade PHP-BTC. As stated by company, the platform was established to help filipinos and people from other countries to trade PHP.
Abra is the app which allows users to buy, sell and hold 28 cryptocurrencies and 50 fiat currencies. The platform provides several options for adding money to the wallet, depending on clients’ location.
Using the credit cards is possible everywhere, bank accounts transfers are available in the U.S., europe and philippines, while making deposits into the wallet with cash is only available in the philippines.
In the BTC-based digital currency wallet, it is possible to have PHP balance, BTC balance, and an ETH balance.
Using the bank account, users can add money to PHP balance. When the balance is loaded, customers can trade PHP to BTC or ETH. Clients have an opportunity to withdraw the fiat currency and btcs, sending them to different crypto wallets.
Etoro
Etoro is the BTC trading platform authorized and regulated by the cyprus securities exchange commission (cysec). It is available and used in the philippines, as it guarantees the risk management tools to protect customers’ positions.
At the platform, it is possible to invest in currency, commodity, index, stock and ETF cfds.
Digital coins and DLT will be discussed by crypto experts at the blockchain & bitcoin conference philippines.
Crypto coin trading platform
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Among the numerous websites providing bitcoin exchange services, the positive reputation of CEX.IO makes it worth the trust of the users all over the world. With the customer base of over 3,000,000, the platform can be recognized as the one that can be relied on. Starting your bitcoin trading on a platform with substantial history, you will benefit from a deep understanding of the market and customersвђ™ needs. We are constantly working on enhancing the security, ensuring the high level of customer support, and providing our users with new opportunities for trading on the bitcoin market. CEX.IO is regularly considering the addition of new coins, which was not so long the case with dash, zcash, and bitcoin cash. Still, every cryptocurrency has to pass a thorough check to be listed. Our due diligence and concerns about the quality of the service yield results. Now, we are moving forward to achieve the status of the best cryptocurrency exchange.
Best cryptocurrency exchange: what does it mean for us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice. 1. Service safety and security. It is critical to ensure that your data will not be leaked to any other parties. Thus, the availability of certificates, like the PCI DSS, serves as the proof of serviceвђ™s safety. Besides, the regulation of exchanges is also important. For example, CEX.IO.
- Is officially registered in the UK;
- Has a money services business status in fincen;
- Complies with the legal requirements of the countries where it functions.
XRP delisted on more platforms following SEC's ripple complaint
Thomas trutschel/getty images
- The cryptocurrency exchanges crypto.Com, coinbase, and okcoin said this week that they were suspending trading of the XRP token following a securities and exchange commission complaint against its developer, ripple labs.
- XRP dropped 31% on tuesday but had climbed back roughly 23% as of thursday.
- XRP, the coin, "is one foot in the grave," phil liu, the chief legal officer at arca, told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable."
- The SEC's lawsuit is against ripple, not XRP. Techcrunch founder michael arrington said that "whatever happens to ripple, XRP will continue to exist," because it's "independent of the company."
- Visit business insider's homepage for more stories.
Several cryptocurrency exchanges have delisted trading of the XRP token this week following the securities and exchange commission's complaint against its developer, ripple labs.
Exchanges and finance platforms including crypto.Com, coinbase, and okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and ziglu, an app, followed suit, according to the block.
The SEC complaint accused ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.
"we have been closely monitoring the news surrounding the december 22nd SEC lawsuit against ripple, the company behind XRP, and two of its key executives," okcoin said in a statement on monday. "as the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on okcoin effective january 4, 2021."
Coinbase said that "in light of the SEC's lawsuit against ripple labs, inc, we have made the decision to suspend the XRP trading pairs on our platform."
XRP dropped 31% on tuesday, losing 75% in value since hitting a two-year high in early november, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.
As of thursday, the coin has gained roughly 23% since its tuesday low.
Phil liu, the chief legal officer at arca, said the SEC lawsuit was a risk for the XRP token and a more serious one for ripple.
XRP, the coin, "is one foot in the grave," liu told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable.
"I don't see a viable alternative to replace XRP sales except to move out of the US and exclude US investors from buying XRP. They would have to start from scratch, because all XRP profits would be disgorged since they all occurred when ripple was a US-based company."
However, michael arrington, the founder of techcrunch and a partner at arrington XRP capital, said XRP would still be a viable token, as ripple doesn't own all of XRP. The SEC lawsuit is against ripple, not the XRP token.
"whatever happens to ripple, XRP will continue to exist. It exists independent of the company. It exists on a distributed ledger," arrington said.
Arrington said he believed the SEC wanted to bring the case to court to establish clearer guidance about cryptocurrencies.
He also said it was unclear whether the rest of the SEC or the justice department felt the same way about ripple as outgoing SEC chairman jay clayton did.
Chris lavigne, a partner at the law firm withers, said it was hard to say what clayton's suit means for the future of cryptocurrency regulation.
"this suit was filed just before a change in administration. It is a surprising action in that respect," lavigne told business insider. "there was clearly no immediate need for an enforcement action, and it is unclear how the new administration will view the lawsuit or the commission's general enforcement agenda in this area."
UK crypto trading platform EXMO compromised; executives vow investigation
It’s happened again, folks. Another cryptocurrency exchange hack is in the books. This time, the victim is EXMO based in the united kingdom. At the time of writing, roughly five percent of the platform’s assets have disappeared.
EXMO has been hacked
EXMO reported earlier in the week that several of its hot wallets had been compromised by thieves. This is consistent in the crypto space and it has been reported time and time again that hot wallets do not possess the security and strength of cold storage. For one thing, they are connected to the internet, which means that anyone with a valid connection and a little technical know-how could potentially reach in and compromise the funds in question, which appears to be what happened.
Cold storage, by contrast, is not connected to the internet. All assets in cold storage are kept offline, making them much harder to steal.
At press time, EXMO has more than 27,000 customers and has a daily trading volume of roughly $52 million in crypto funds. Thus, it’s not the largest digital currency trading platform out there, but it still sees healthy spurts of business. The company has suspended all its withdrawals for the time being and is asking all customers to remain on standby while executives examine what could have happened.
The company has put out the following statement:
We are still investigating the incident, but as of now, the security audit report showed that some amounts of BTC, XRP, ZEC, USDT, ETC and ETH in EXMO’s hot wallets were transferred out of the exchange. We reacted immediately and re-deployed hot wallets. The affected hot wallets comprise nearly five percent of the total assets. Let us stress that all the assets in the cold wallets are safe.
Initially, the company placed the following message on social media to let users know that if they’ve lost money due to the attack, they will be quickly reimbursed by the exchange:
Attention! We detected suspicious withdrawal activity. All withdrawals are suspended. We’re investigating the issue and taking measures to protect your funds. If any user fund is affected by this incident, it’ll be covered completely by EXMO.
As it stands, the platform has already brought law enforcement agents on board who are now examining the evidence. In the meantime, executives are conducting reviews of all the platform’s present security systems to see if there are any doorways to future hacks that can be sealed off.
Don’t put money in your accounts
The company has also asked that while the investigation is going on, customers refrain from depositing any digital funds into their accounts. EXMO states:
In the meantime, we ask you NOT TO DEPOSIT ANY FUNDS TO THE EXISTING EXMO WALLETS. All the withdrawals are suspended for the time being.
Best cryptocurrency brokers
Luke jacobi
Contributor, benzinga
Want to jump straight to the answer? The best crypto platform for most people is definitely etoro.
Many people believe that cryptocurrencies are the future of finance. When you’re ready to leap into crypto, choosing a broker to trade or invest in cryptocurrencies is one of the most important steps to your success in the crypto market.
Get started now with benzinga’s picks for the best cryptocurrency brokers to choose the right one for you.
Best crypto brokers and trading platforms:
- Best for social trading: etoro
- Best for ease-of-use: gemini
- Best for new investors: coinbase
- Best for gold investments: itrustcapital
- Best for high volume forex traders: cryptorocket
- Best for accessibility: altrady
- Best for multiple exchanges: voyager
Best crypto brokers
Since different brokers have different strengths, you need to figure out what kind of broker best suits your cryptocurrency interests. Some brokers provide a social trading platform where you copy other cryptocurrency traders’ trades in your own account. Others can offer the ability to make transactions in a broader selection of altcoins.
Choosing the best crypto broker depends largely on addressing your needs as an investor or trader. The following list crypto brokers been selected for different reasons to meet the needs of differing cryptocurrency trading and investing styles.
Commissions
Account minimum
1. Best for social trading: etoro
Etoro fundamentally changed the way many people trade and invest with its social trading platform. Social trading involves mirroring another trader or investor’s transactions in a special social trading account. While you make the same amount proportionally as the trader you’re copying, you also take the same percentage of losses the trader takes in their account.
In addition to its regular crypto trading platform, etoro offers an advanced cryptocurrency exchange platform called etorox. This platform is designed for algorithmic traders and institutional grade investors. It offers traders access to tight-dealing spreads, and its algox application programming interface (API) can be used to create custom automated trading tools.
Commissions
Account minimum
2. Best for ease-of-use: gemini
Stay on top of market trends, build your crypto portfolio and execute your trading strategy with gemini’s easy-to-use tools. The gemini app is available on all the major app stores, and it puts the industry’s best crypto exchange and wallet in your hands.
Gemini’s app is easy to use. You can track asset prices and real-time market prices and set price alerts so you can act fast on price movements for individual assets. You can also schedule recurring buys on bitcoin and other cryptocurrencies.
Invest with peace of mind with gemini’s solid cybersecurity and custody solutions. Create a free account and make your 1st buy in as little as 3 minutes.
Commissions
Account minimum
3. Best for new investors: coinbase
Coinbase is 1 of the largest and oldest cryptocurrency exchanges. It currently services 35 million customers worldwide. Coinbase has extensive educational resources and an intuitive interface ideal for new traders and investors.
The exchange also provides clients with a hosted wallet and offers global customer support. Coinbase is an excellent choice for those new to the cryptocurrency market who do not wish to use social trading services.
Commissions
Account minimum
4. Best for gold investments: itrustcapital
Itrustcapital is 1 of the few cryptocurrency brokers that lets you trade and hold physical gold in your individual retirement account (IRA). You can also trade bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BTH) in your IRA. Itrustcapital provides you with a personal wallet by curv for your crypto transactions.
While itrustcapital has no minimum trade or account size, the company charges account holders a flat fee of $29.95 per month. This amount includes all IRA fees, asset custody charges and access to its trading platform, although all cryptocurrency trades carry an additional 1% transaction charge based on the trade size.
If you’re planning for your retirement and want to add physical gold to your cryptocurrency portfolio as an inflation hedge, then itrustcapital is a solid choice.
5. Best for high volume forex traders: cryptorocket
Cryptorocket offers straight through processing (STP) to its trading clients. This means you deal directly with the crypto and forex markets and not through intermediaries or market makers. This broker model is ideal for high volume forex traders who tend to be sensitive to dealing spreads.
In addition to the 35 crypto pairs offered, you can trade 55 fiat currency pairs, 64 major stocks and 11 indices. If you are based in a jurisdiction with relatively lax retail forex trading regulatory oversight, you may even be able to take advantage of cryptorocket’s 500:1 maximum leverage ratio for forex trades.
Cryptorocket also supports the popular 3rd-party metatrader4 trading platform.
6. Best for accessibility: altrady
Altrady is built by crypto traders for crypto traders. It makes cryptocurrency trading accessible for beginner, intermediate and advanced traders.
You can get the tools that professional crypto traders use without the expensive price tag. Altrady’s platform is intuitive and easy-to-use. Its crypto trading software platform adapts to your needs.
It combines 10 connected exchanges. It also offers immediate price alerts, portfolio manager, break-even calculator, and customizable trading pages by allowing traders to manipulate widgets to create preferred layout in order to trade comfortably, limit ladder order, gain quick access to market tabs, and integrated market scanners.
Commissions
Account minimum
7. Best for multiple exchanges: voyager
Voyager connects to more than a dozen of the most trusted and secure crypto exchanges so you have access to the largest crypto trading market available anywhere. Voyager gives you faster, more reliable execution, plus:
- Access to multiple exchanges: voyager partnered with over a dozen of the most trusted and secure crypto exchanges and liquidity providers. Voyager’s exchange connectivity offers you competitive prices on your trades and faster, more reliable execution.
- Commission-free trading: voyager operates commission free to save you money. You save money on trades through its extensive crypto market and best execution technology. Voyager achieves price improvement on over 90% of customer orders.
Start trading at a better price today! Download the voyager app today.
Crypto advantages vs. Disadvantages
Trading and investing in cryptocurrencies often carry a considerable degree of risk, as you may have observed given the volatility of bitcoin and some other digital currencies. Despite the disadvantages currently associated with cryptos versus fiat currencies (like lower liquidity and minimal payment options), the advantages of holding cryptocurrencies will increase as they become a more common form of payment.
Here’s a quick shot of crypto advantages and disadvantages.
Advantages
- Security. Technology advances typically lead to increased intrusion into your privacy. In contrast, all identities and transactions are strictly secured in the digital currency environment. While most cryptocurrency transactions are very secure, you still could be vulnerable to cybercriminal actions, like hacking.
- Low transaction fees. Because of the elimination of intermediaries like financial institutions, cryptocurrency transaction fees are generally quite low.
- Decentralized. The lack of a central exchange or authority overseeing cryptocurrencies is one of their defining characteristics. Many people consider this among the biggest advantages of cryptocurrencies and blockchain technology.
- High potential returns. You only have to look at a long-term bitcoin price chart to get an idea of the returns you can make investing wisely in digital currencies. The crypto world is still developing and expanding, so investing in the right digital currency now could translate into considerable returns in the future.
Disadvantages
- Acceptance. Because digital currencies have not yet become mainstream, most businesses will not accept them as payment for goods or services. This situation will eventually change as public perception makes digital currencies more acceptable as forms of payment. For example, paypal has recently allowed customers to hold bitcoin balances and has plans to allow payments using that cryptocurrency by early 2021.
- Volatility. The market volatility observed in some digital currencies can lead to large gains or large losses. Trading and investing in crypto is not for everyone, especially those with a low pain threshold or aversion to risk.
- Taxes. The internal revenue service (IRS) states on its official website that “virtual currency transactions are taxable by law just like transactions in any other property.” that IRS web page also links to a guide about how existing general tax principles apply to transactions made using digital currencies.
- Illegal activities. Due to the fact that digital currency transactions generally provide identity security, many people operating outside the law are thought to use digital currency for illegal activities. These activities could include money laundering, “dark web” transactions, and drug and human trafficking.
Cryptocurrency vocabulary
Like many other financial markets, the cryptocurrency market has evolved its own jargon. Some of the key terms used by market operators are defined below.
- Block. A collection of transactions permanently recorded on a digital ledger that occur regularly in every time period on a blockchain.
- Blockchain. A constantly growing list of blocks in a peer-to-peer network that records transactions.
- Cryptocurrency exchanges. Also called digital currency exchanges, these generally consist of online businesses that allow customers to exchange cryptocurrencies for fiat currencies or other cryptocurrencies.
- Cryptocurrency wallet. A secure digital account used to send, receive and store digital currencies. Crypto wallets can either be cold wallets that are used for storing cryptos in an offline environment or hosted wallets that are hosted by 3rd parties. Hosted wallets store your private keys and provide security for your digital currency balances.
- Distributed ledger. A network of decentralized nodes or computers that connect to a network where transaction data is stored. Distributed ledgers do not have to involve cryptocurrencies and can be either private or permissioned.
- Fork. Also known as a “chain split,” a fork is a split that creates an alternate version of a blockchain that then leaves 2 blockchains running simultaneously. For example, bitcoin and bitcoin cash came about due to a fork in the original bitcoin blockchain. Another type of fork is known as a “project” or “software fork.” this occurs when cryptocurrency developers take the source code of an existing altcoin project and create a new project. For example, litecoin is a project fork of bitcoin.
- ICO. An initial coin offering (ICO) occurs when a new digital currency or token is sold, typically at a discount, to its first set of investors. An ICO lets issuing cryptocurrency companies raise funds from the public to support their coin’s development and maintenance.
- Mining. A computationally-intensive process performed within a cryptocurrency network where blocks are added to the blockchain by verifying transactions on its distributed ledger. Miners are rewarded with digital coins as compensation for their successful computational efforts.
Are you ready for the future?
Digital currency and the blockchain appear to be the future of finance. Despite their current typical volatility and lack of widespread acceptance as a payment method, cryptocurrencies seem destined to become increasingly used for online payments. They could therefore make an interesting long-term investment, especially if you have a strong appetite for risk.
Where we will be in 20 years is anyone’s guess, but cryptocurrencies and blockchain technology show growing promise as forces to be reckoned with in the financial world. Get started today with 1 of our recommended crypto brokers.
Try gemini
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini crypto platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with gemini now.
XRP delisted on more platforms following SEC's ripple complaint
Thomas trutschel/getty images
- The cryptocurrency exchanges crypto.Com, coinbase, and okcoin said this week that they were suspending trading of the XRP token following a securities and exchange commission complaint against its developer, ripple labs.
- XRP dropped 31% on tuesday but had climbed back roughly 23% as of thursday.
- XRP, the coin, "is one foot in the grave," phil liu, the chief legal officer at arca, told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable."
- The SEC's lawsuit is against ripple, not XRP. Techcrunch founder michael arrington said that "whatever happens to ripple, XRP will continue to exist," because it's "independent of the company."
- Visit business insider's homepage for more stories.
Several cryptocurrency exchanges have delisted trading of the XRP token this week following the securities and exchange commission's complaint against its developer, ripple labs.
Exchanges and finance platforms including crypto.Com, coinbase, and okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and ziglu, an app, followed suit, according to the block.
The SEC complaint accused ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.
"we have been closely monitoring the news surrounding the december 22nd SEC lawsuit against ripple, the company behind XRP, and two of its key executives," okcoin said in a statement on monday. "as the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on okcoin effective january 4, 2021."
Coinbase said that "in light of the SEC's lawsuit against ripple labs, inc, we have made the decision to suspend the XRP trading pairs on our platform."
XRP dropped 31% on tuesday, losing 75% in value since hitting a two-year high in early november, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.
As of thursday, the coin has gained roughly 23% since its tuesday low.
Phil liu, the chief legal officer at arca, said the SEC lawsuit was a risk for the XRP token and a more serious one for ripple.
XRP, the coin, "is one foot in the grave," liu told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable.
"I don't see a viable alternative to replace XRP sales except to move out of the US and exclude US investors from buying XRP. They would have to start from scratch, because all XRP profits would be disgorged since they all occurred when ripple was a US-based company."
However, michael arrington, the founder of techcrunch and a partner at arrington XRP capital, said XRP would still be a viable token, as ripple doesn't own all of XRP. The SEC lawsuit is against ripple, not the XRP token.
"whatever happens to ripple, XRP will continue to exist. It exists independent of the company. It exists on a distributed ledger," arrington said.
Arrington said he believed the SEC wanted to bring the case to court to establish clearer guidance about cryptocurrencies.
He also said it was unclear whether the rest of the SEC or the justice department felt the same way about ripple as outgoing SEC chairman jay clayton did.
Chris lavigne, a partner at the law firm withers, said it was hard to say what clayton's suit means for the future of cryptocurrency regulation.
"this suit was filed just before a change in administration. It is a surprising action in that respect," lavigne told business insider. "there was clearly no immediate need for an enforcement action, and it is unclear how the new administration will view the lawsuit or the commission's general enforcement agenda in this area."
Cryptocurrency trading
Find out how to get started trading cryptocurrency in this step-by-step guide.
Etoro cryptocurrency trading
- Buy bitcoin and 15 other cryptocurrencies
- Copy top-performing traders
- Disclaimer: virtual currencies are highly volatile. Your capital is at risk
- BC bitcoin
- CEX.IO
- Coinjar
- Etoro
- EXMO
- Gemini
- Kraken
- Paybis
- Revolut
- A-Z list of exchanges
- Trezor
- Ledger nano S
- Keepkey
- Jaxx
- Mycelium
- Electrum
- Exodus
- Copay
- Edge
- A-Z list of wallets
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin cash (BCH)
- EOS (EOS)
- Litecoin (LTC)
- Cardano (ADA)
- IOTA (MIOTA)
- Stellar (XLM)
- TRON (TRX)
- NEO (NEO)
- A-Z list of altcoins
There are lots of different ways of making a profit (or losing money) from cryptocurrency. Trading is one of the most popular.
This guide explains where to begin, including how to choose a trading style, how to devise a trading plan, what to look for in a trading platform and things to consider.
What's in this guide?
How to trade cryptocurrency
There are five steps to getting started:
- Do your research and work out whether cryptocurrency trading is right for you.
- Decide whether you want to do long term or short term trading.
- Choose the trading method that’s right for you.
- Learn how to place trades and read charts.
- Choose an exchange and start trading.
This guide walks you through each of these steps.
The different types of cryptocurrency trading
The first step is to decide between long term or short term cryptocurrency trading. Both are very different.
Long-term trading
Long-term traders buy and hold cryptocurrencies over a long period of weeks, months or even years, with the intention of selling at a profit or using it later.
If you believe the value of a cryptocurrency will grow in the long run, and don’t want the stress of actively trading, then this might be your style, and a good first step may be learning how to safely buy and hold cryptocurrency.
Short-term trading
Short-term trading is about taking advantage of short term cryptocurrency price swings by creating and executing a trading strategy.
It’s more active, stressful and risky than long-term trading, but it also offers faster and larger potential returns for those who do it right, and lets you profit from cryptocurrency prices dropping as well as rising.
If this is what you’re looking for, you can either read on for a beginner’s guide or compare cryptocurrency trading platforms to get started.
Trading means accumulating more crypto or fiat currency through repeatedly buying low and selling high.
If you do it right, your funds grow. If you do it wrong, your funds shrink over time, as bad trades and changing markets eat away at your holdings.
The value of your cryptocurrency will rise and fall, but there’s no risk of immediately losing all your money to a bad trade.
- Good for: beginners, accumulating cryptocurrency, avoiding excessive risks, keeping things simple.
- Not so good for: high-risk high-reward strategies, profiting from markets dropping.
Cryptocurrency trading for beginners
Before you can start trading, you need to be sure cryptocurrency trading is right for your circumstances, and that you understand the risks associated with it. You’ll also need to know what all the buttons do.
Fortunately, most cryptocurrency exchanges have similar-looking market pages, and you can safely ignore a lot of the information on the page.
Here’s an example from the binance cryptocurrency trading platform, showing the bitcoin/USDT market with the important parts annotated.
Warning: binance offers cryptocurrency derivatives which the regulator banned from sale to UK consumers in january 2021.
The red and green box at the top is the price chart. At the bottom is where you place your buy and sell orders. There are two things to pay attention to here: your order type and the amount you want to buy or sell.
In this case, binance offers three basic order types: market, stop-limit and OCO.
- Market: place a buy or sell order at the current market price, to execute immediately.
- Stop-limit: once you select this, you will be prompted to choose a separate stop price, and limit price. Once the asset (bitcoin in this case) reaches the stop price, it will sell for at least the limit price, if possible.
- OCO: “one cancels the other.” this is two stop-limit orders combined, where one cancels the other if it’s triggered.
Market and stop-limit are the basic order types you’ll find on almost all exchanges, while OCO is a bit less common. Different exchanges will sometimes have different order types, and slightly different rules about how they can be placed.
How to make a trading plan
The difference between gambling and trading is having a plan. Creating a plan is a three step process:
1. Look for patterns
The basic principle of reading charts and creating trading plans is to look for patterns in previous price movements, and then using those to try to predict future movements.
Some patterns emerge frequently enough across multiple markets that they’re given their own names, such as resistance and support. But others are much more obscure, and are never given names of their own.
For example, if you think bitcoin goes up when ethereum goes down, or that bitcoin rises when the US dollar falls relative to the chinese renmibi, or anything else you can think of, that could be a pattern you can trade on.
2. Make a plan and stick to it
The two basic components of a trading plan are:
- A place where you take profits
- A place where you cut your losses
For example, someone’s basic plan might be to sell 33% of their bitcoin for every $1,000 the price goes up (taking profits), or to immediately sell all their bitcoin if prices drop below the current support line (cutting losses). To lay out this plan, they could set up a series of stop-limit orders.
This is not necessarily a good plan, but it would ensure that the amount they gain or lose is within sensible boundaries no matter what the market does.
As traders get more experienced, they can create increasingly sophisticated trading plans that tie together more market indicators, and allow for much more nuanced trading strategies.
Experienced traders typically use cryptocurrency trading bots to execute their strategies, because they tirelessly follow complex trading plans faster and more reliably than a human ever could.
3. Experiment
It’s good to test trading theories before throwing real money at them. Paper trading or backtesting can be useful here. Both features are often found on trading platforms.
Paper trading is a way of using fake money on the real markets, so you can test a trading strategy in real, current conditions. Backtesting is when you put a trading strategy through historical market movements to see how it would have performed.
If you’re a beginner trying to get your head around the basics of reading charts and spotting patterns, you may want to read the step-by-step guide to cryptocurrency technical analysis for a sense of how to start spotting patterns.
What to watch out for
Cryptocurrency trading incurs many of the risks of trading on any other market, as well as some unique challenges.
- Volatility. Cryptocurrency is volatile. This is one of the things that makes it attractive to traders, but it also makes it very risky. Double-digit intra-day price swings are common, and drastic shifts can happen in just minutes.
- Unregulated, manipulated markets. The cryptocurrency markets are largely unregulated compared to more traditional markets. It’s an open secret that wash trading and market manipulation are common. They’re also a lot less liquid than many other markets, which can contribute to the volatility and make it easier for well-moneyed “whales” to manipulate prices, force liquidations and similar. Exchanges themselves are sometimes accused of manipulating their own markets against their own customers.
- Inaccurate patterns. Markets will often follow patterns, but often they won’t. This is a risk when trading anything, but the unique characteristics of the cryptocurrency market means it’s a particular challenge there.
- Being over-exposed. Don’t bet more than you can afford to lose. Limit your exposure and consider setting up “take profit” and “stop loss” orders to limit your exposure in the event of drastic swings.
- Using excessive leverage. Many cryptocurrency exchanges will offer up to 100x leverage, dramatically magnifying the potential risks. The volatility of cryptocurrency, combined with high leverage trading, can see positions be liquidated extremely quickly.
- Not knowing when to fold. Whether you’re up or down, it’s important to know when to close a position and either take profits, or cut your losses.
Compare cryptocurrency trading platforms
When choosing a cryptocurrency trading platform, consider factors such as whether it offers derivatives or leverage, what kind of order types it allows, and how easily it can integrate with cryptocurrency trading bots.
Where to trade cryptocurrency in the UK
Warning: your capital is at risk. The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results. This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade
All of the following platforms are available in the UK and offer cryptocurrency trading.
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Among the numerous websites providing bitcoin exchange services, the positive reputation of CEX.IO makes it worth the trust of the users all over the world. With the customer base of over 3,000,000, the platform can be recognized as the one that can be relied on. Starting your bitcoin trading on a platform with substantial history, you will benefit from a deep understanding of the market and customersвђ™ needs. We are constantly working on enhancing the security, ensuring the high level of customer support, and providing our users with new opportunities for trading on the bitcoin market. CEX.IO is regularly considering the addition of new coins, which was not so long the case with dash, zcash, and bitcoin cash. Still, every cryptocurrency has to pass a thorough check to be listed. Our due diligence and concerns about the quality of the service yield results. Now, we are moving forward to achieve the status of the best cryptocurrency exchange.
Best cryptocurrency exchange: what does it mean for us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice. 1. Service safety and security. It is critical to ensure that your data will not be leaked to any other parties. Thus, the availability of certificates, like the PCI DSS, serves as the proof of serviceвђ™s safety. Besides, the regulation of exchanges is also important. For example, CEX.IO.
- Is officially registered in the UK;
- Has a money services business status in fincen;
- Complies with the legal requirements of the countries where it functions.
XRP delisted on more platforms following SEC's ripple complaint
Thomas trutschel/getty images
- The cryptocurrency exchanges crypto.Com, coinbase, and okcoin said this week that they were suspending trading of the XRP token following a securities and exchange commission complaint against its developer, ripple labs.
- XRP dropped 31% on tuesday but had climbed back roughly 23% as of thursday.
- XRP, the coin, "is one foot in the grave," phil liu, the chief legal officer at arca, told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable."
- The SEC's lawsuit is against ripple, not XRP. Techcrunch founder michael arrington said that "whatever happens to ripple, XRP will continue to exist," because it's "independent of the company."
- Visit business insider's homepage for more stories.
Several cryptocurrency exchanges have delisted trading of the XRP token this week following the securities and exchange commission's complaint against its developer, ripple labs.
Exchanges and finance platforms including crypto.Com, coinbase, and okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and ziglu, an app, followed suit, according to the block.
The SEC complaint accused ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.
"we have been closely monitoring the news surrounding the december 22nd SEC lawsuit against ripple, the company behind XRP, and two of its key executives," okcoin said in a statement on monday. "as the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on okcoin effective january 4, 2021."
Coinbase said that "in light of the SEC's lawsuit against ripple labs, inc, we have made the decision to suspend the XRP trading pairs on our platform."
XRP dropped 31% on tuesday, losing 75% in value since hitting a two-year high in early november, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.
As of thursday, the coin has gained roughly 23% since its tuesday low.
Phil liu, the chief legal officer at arca, said the SEC lawsuit was a risk for the XRP token and a more serious one for ripple.
XRP, the coin, "is one foot in the grave," liu told business insider. "ripple, the company, may be insolvent by the end of 2021 if it can't raise money by selling XRP and its other products aren't profitable.
"I don't see a viable alternative to replace XRP sales except to move out of the US and exclude US investors from buying XRP. They would have to start from scratch, because all XRP profits would be disgorged since they all occurred when ripple was a US-based company."
However, michael arrington, the founder of techcrunch and a partner at arrington XRP capital, said XRP would still be a viable token, as ripple doesn't own all of XRP. The SEC lawsuit is against ripple, not the XRP token.
"whatever happens to ripple, XRP will continue to exist. It exists independent of the company. It exists on a distributed ledger," arrington said.
Arrington said he believed the SEC wanted to bring the case to court to establish clearer guidance about cryptocurrencies.
He also said it was unclear whether the rest of the SEC or the justice department felt the same way about ripple as outgoing SEC chairman jay clayton did.
Chris lavigne, a partner at the law firm withers, said it was hard to say what clayton's suit means for the future of cryptocurrency regulation.
"this suit was filed just before a change in administration. It is a surprising action in that respect," lavigne told business insider. "there was clearly no immediate need for an enforcement action, and it is unclear how the new administration will view the lawsuit or the commission's general enforcement agenda in this area."
so, let's see, what we have: philippines is the country which actively develops DLT and crypto coins. The technology’s position is strengthened by numerous DLT-based startups and the country’s welcoming regulatory environment. | blockchain conference philippines at crypto coin trading platform
Contents
- Top forex bonus list
- Top 5 trading platforms for cryptocurrency in the philippines: best exchanges
- How to choose the trading platform?
- Best philippine trading platforms for crypto
- Crypto coin trading platform
- Cheaper GBP deposits HOT
- Margin trading
- CEX.IO staking
- Buy crypto with a card
- Best cryptocurrency exchange: what does it mean for us?
- XRP delisted on more platforms following SEC's ripple complaint
- UK crypto trading platform EXMO compromised; executives vow investigation
- EXMO has been hacked
- Don’t put money in your accounts
- Best cryptocurrency brokers
- Best crypto brokers and trading platforms:
- Best crypto brokers
- Commissions
- Account minimum
- 1. Best for social trading: etoro
- 2. Best for ease-of-use: gemini
- 3. Best for new investors: coinbase
- 4. Best for gold investments: itrustcapital
- 5. Best for high volume forex traders: cryptorocket
- 6. Best for accessibility: altrady
- 7. Best for multiple exchanges: voyager
- Crypto advantages vs. Disadvantages
- Cryptocurrency vocabulary
- Are you ready for the future?
- XRP delisted on more platforms following SEC's ripple complaint
- Cryptocurrency trading
- Find out how to get started trading cryptocurrency in this step-by-step guide.
- What's in this guide?
- How to trade cryptocurrency
- The different types of cryptocurrency trading
- Cryptocurrency trading for beginners
- How to make a trading plan
- What to watch out for
- Compare cryptocurrency trading platforms
- Where to trade cryptocurrency in the UK
- Crypto coin trading platform
- Cheaper GBP deposits HOT
- Margin trading
- CEX.IO staking
- Buy crypto with a card
- Best cryptocurrency exchange: what does it mean for us?
- XRP delisted on more platforms following SEC's ripple complaint
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