Want to kick start a Crypto Trading Career? The must have digital kit is for all Crypto Traders.
Just few years ago Crypto was an investment for the extremely rich guys who just wanted to invest their money into something other than the stock market. Today Crypto is a business and a lot of people want to get involved in the Crypto world but do not know how.
Crypto currency is a combination of finance and technology. It is a digital growth that keeps waxing and growing all around daily. Cryptocurrency may sound like a trend that will eventually fade out soon, but trust me, it’s not going anywhere. Cryptocurrency is a pillar that will only grow through this time.
If you are a beginner or even a professional in trading, and you are finding it difficult with some aspects of trading, like the statistical aspect, do not fail to scroll down to read more about the tools that will make trading easy for you.
What is Cryptocurrency
Cryptocurrency is a term derived from the word “encryption technique” used to secure the network. Cryptocurrency is defined as digital money. It was secured by cryptography, which is advanced mathematics and computer science.
Cryptocurrency runs on decentralized networks based on blockchain technologies. They are not issued by any government authority, which restricts manipulations from any government. It is almost impossible to counterfeit or double-spend this money because of its decentralized structure.
Blockchain is a shared digital register, and this is where cryptocurrency transactions are registered. It works by registering crypto transactions in block forms. Cryptocurrencies are in different categories like coins and tokens
What does it mean to Trade Crypto?
There are many ways to make money from crypto, but among them, trading crypto appears to be the most profitable.
Cryptocurrency trading is the act of theorizing cryptocurrency price movements using Contract For Difference trading, also known as CFD for trading. CFD for trading enables individuals to engage in trading crypto between brokers and themselves.
A crypto trader is a person who gets involved in crypto trading. They make their profits from the short-term changes in the market price.
How to be a Crypto Trader
- Start by creating a crypto account on an exchange allowed in your country.
- Fund your account.
- Decide which cryptocurrencies you want to trade.
- Define a trading strategy.
- Apply your strategy by trading.
What are Digital Kits
I guess you are wondering what crypto has got to do with digital kits. It isn’t a coincidence that this is discussed now because we have many newbies joining the crypto world daily. Just like doctors wouldn’t go into the surgery room without their tools, that’s the same way we don’t go into crypto trading without our arsenal of tools. You can’t be a trader without having and knowing digital tools like Binance, CoinMarketCap, or Altrady, because of how important they are in the field.
7 Categories of Crypto Traders Digital Kit
Crypto Wallets
A crypto wallet is used to interact with our blockchain network. We have three main types of crypto wallet ( the software wallet, paper wallet and hardware wallet) but majority of crypto wallets make use of the software wallet which is more convenient but less secure as compared to our hardware wallet. Cryptocurrencies are digital assets that cannot be touched or seen but can be accessed using crypto-wallets. There are a lot of crypto wallets that can be used, but you need to be on the lookout for accessibility and security; some offer protection with difficult accessibility(hardware wallet), while some offer easy accessibility without good security(software wallet). We recommend Ledger Nano X for your hardware wallet or SafePal S1 and Coinbase or Crypto.com for your Software wallet.
News Aggregator
To be a good trader, you need this tool because market sentiments play a significant role in the crypto world. These sentiments do not need to be true to affect the market price. So to keep you updated on the trends and happenings, tools like CryptoPanic and CoinSpectator are a must-have. These news aggregators give high-quality news from trustworthy sources. CoinSpectators even allows traders to decide how the news affects market price by voting.
Portfolio Managers
Portfolio managers work by linking your wallets and your exchanges. These trackers can be susceptible to hackers because of their cloud-based platforms, so it’s essential to use the right and secured portfolio trackers like BlockFolio or Koinly. With these tools, you can know the coins you have in possession and also track your cryptocurrency on various exchanges.
Cryospheres (Coin Market Trackers)
This market stats tool helps you study the trend and stock trading volume. The statics behind every coin or token is vital not just for traders but for individuals interested in Cryptocurrency. We recommend CoinMarketCap and CryptoCompare. These sites let you view the top 100 cryptocurrencies’ price trends.
Crypto Trading Bots
Bots like Trade Santa help you skip all the procedures and research work as a beginner in trading. With this, you can set your trade to any desired time and help you stick to the plan just in case you are always tempted to move away from laid-out strategies, just in case the market doesn’t go as planned. These automated tools do not shift from the plans, no matter the feelings. ProfitFarmer is another trading bot that does an excellent job. You follow the signals, set the trade, and the bot will execute at the right time to give maximum profit.
Trading Platforms
This is an excellent platform for trading cryptocurrency. It not only allows you to trade on different platforms. It also saves time, and it offers a secure trading experience. Trading on Altrady is made super simple. You can even integrate other exchange accounts to this platform. Other trading platforms that can serve are Binance, Coinbase Pro, Kucoin, and Huobi.
Crypto Calendars
Crypto calendars are a good indicator of a good digital asset. You get the details of a coin on the coin calendar. This keeps you updated with the latest events. CoinMarketCal and CoinCalender are good crypto calendars. They allow you to post events on the calendar and give you notifications.
Your tools may be the edge you need
These tools are not just for beginners; they are for everybody. There is no substitute for hard work, but with these tools, you get an edge. Utilizing these tools gives the traders an edge in their market space. It determines the profit they make with fewer frictions, especially the statistical part of trading where we know little or nothing about it.
I would like to get your comments on the contents of your digital kits and why you choose those tools. And please do not fail to follow us for more tips.
Note: This article is for informational purposes only, it does not constitute financial advice.
