Bitcoin Trading Tools Bitcoin trading can be extremely profitable for professionals or beginners. The market is new, highly fragmented with huge spreads. Arbitrage and margin trading are widely available. Dec 08, · A bitcoin robot is a tool that makes the buying and selling decisions on behalf of the trader and executes trades accordingly. Bitcoin robots have a . Nov 09, · Top Cryptocurrency Trading tools for Beginners and Professionals 1. 3commas 3commas offers a lot of features and the most liked one is the Trading terminal. You can connect to cryptocurrency exchanges like Binance, Bittrex, Poloniex through a single interface of 3commas and make your trading decisions on each of them simultaneously.
Tools trading bitcoin5 Easy Steps For Bitcoin Trading For Profit and Beginners
The team behind Binance is amazing and heavily focused on serving its trading customers. Plus, their trading fee is the lowest in the industry at 0.
Shrimpy is another crypto software that enables you to diversify, automate, and earn from cryptocurrency investments. We all know about HODLing but a new concept of rebalancing introduced by Shrimpy even works better as it automatically helps to buy low and sell high. The rebalancing technique is used by the crypto whales to minimize risk and maximize their profits irrespective of market conditions.
Of course, for this, you need to integrate your exchanges with Shrimpy and it is quite easy to do so. Here are two of our guides where we have shared our experience of using Shrimpy:.
But if you are someone who wants to dig deeper and increase their reach as well as reduce their risk by using several exchanges then Altrady is for you. You can access real-time updates, alerts, and charts from various exchanges from where you can buy different cryptocurrencies. TradeSanta is a free Crypto trading bot that automates crypto trading and helps you make a profit even when you sleep. Another interesting thing behind TradeSanta is it is suitable for newbies as all you are doing is creating a long and short position.
Getting started is easy, and all you need to do is connect TradeSanta with a supported exchange using API and then you can start with minimum investment. The help guides and videos will help you understand how to use TradeSanta and you can get started with automated crypto trading within less than 30 minutes. Ledger Nano S is one of the most popular cryptocurrency hardware wallets in the market. Plus, it is an HD wallet which is quite popular in the cryptosphere.
Bitfinex is another popular cryptocurrency exchange that has made a mark in very less time. It is run by an experienced team of traders and developers who have previous experience of running crypto exchanges. Here you can find some of the rare cryptocurrency gems that you would otherwise not find anywhere else. Just like Binance, they offer a fully functional mobile app for Android and iOS.
And also have their own native token called LEO, holders of this token get discount on trading fees. Apart from this benefit, their fee structure of trading is rather cheap with only 0.
Furthermore, it shows prices, volume and other data in 13 languages and 28 national currencies. It also saves historical price charts of crypto markets and provides you with real-time charts for BTC and the whole crypto market. That is because it is to be used as a second opinion as it is not a good practice to rely on centralized systems like this for decentralized markets.
With CoinGecko you can see and track prices of s and s of cryptocurrencies in fiat and BTC with appealing charts of different intervals. One can also see CoinGecko UI in 15 different languages apart from English which is a huge plus point for any website in this niche.
You will also get to know about airdrops or launch of a new feature in that particular project. Plus, all this information is available on CoinMarketCap with their source of information where users can verify the information and then upvote or downvote it. It is a must-have tool to be used while making your crypto strategy and the good thing is that it is totally free to use.
CryptoPanic is another favorite tool of mine that helps me stay on top of the news from the cryptosphere. Crypto is a relatively a small market which is highly influenced by news. Plus, you can get the feature to follow your chosen YouTube channels, Reddit thread and Twitter accounts to accurately gauge the sentiments of the market. You have the option to these things on your mobile also as CryptoPanic provides apps for both iOS and Android. Trading View is a highly rated charting software that is quite popular in the world for showing accurate market charts for commodities, stocks, derivatives, and now crypto also.
So if you are someone who likes technical analysis of coins by looking at charts of different intervals, this tool is for you. Moreover, to aid you will find all the latest and traditional patterns analysis tools inbuilt in trading view software. These are some of the tools which are upcoming and they are worth watching.
Some of them may develop into a mainstream tool or some of them may shut down. Either way, these projects are doing something significant and would help you in picking better trade:. Well, I am sure no one would have access to all the tools. Harsh Agrawal is the Crypto exchanges and bots experts for CoinSutra.
He has a background in both finance and technology and holds professional qualifications in Information technology. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.
Notify me of new posts by email. This site uses Akismet to reduce spam. Learn how your comment data is processed. CoinSutra was started in with the mission to educate the world about Bitcoin and Blockchain applications. This guide will give you a proper introduction into day trading Bitcoin — the technical and psychological aspects, what you should know in advance and how to maintain a stable income. Bitcoin Day Trading Believe it or not, the Bitcoin network still has big unrealized potential — developers are continually working to improve its scalability, privacy-enhancing features, and add other functionalities.
However, it will take a lot of preparation and effort on your part. Reportedly, good day traders make one to two percent in profit per day. The statistical probability is slim but how can you beat the odds?
Your chances of success depend on taking the right steps before you start trading:. Even though you can get deep into highly technical indicators, you should learn the basics of simple day trading strategies in the beginning.
When it comes to starting out, the more straightforward — the more effective. Basic questions you should be asking yourself when deciding on a strategy are:. In any case, day trading is a very particular kind of activity. Positions are based on short-term movements so you need to respond quickly. If there is relevant news that could affect the price or you see an emerging pattern, the window for any actions is very limited.
After you master basic techniques, you could consider using a series of strategies. There is no denying that computers can perform calculations much better than humans. It is crucial, especially when there is real money on the line. People often make mistakes by holding trades for additional gains even though it goes against their chosen strategies. Failure to stick to the plan can have significant ramifications. People lose existing profit just because they feel they can get more.
Another human flaw to point out is not being able to react quickly enough. Trading bots never make erratic decisions because a predetermined algorithm dictates every action. Also, when it comes to day trading, timing is key. Bots can react to data and execute transactions in a matter of seconds. However, a trading bot is as good as the technology behind it. When you choose the automated trading platform by 3commas, you get a robust platform, with no downtime and technical hiccups.
And considering you can share and learn strategies, indicators, and settings with other traders in the community, your trading improves even further. All trading charts show data points for the past and current price movements. A Bitcoin day chart focuses on its price action for a specific day.
You can also view changes within a specific timeframe, which helps traders make more informed decisions. Whilst there is no shortage of line and bar charts, one of the most valuable types is the candlestick chart.
It offers plenty of valuable information in a concise form. Here is what the chart can tell you:. There is a lot more information to extract, which will hold significance in your trading.
Trends show the momentum of Bitcoin price changes in a particular direction. You can identify these patterns on a chart and make decisions based on that data. Peaks in an uptrend and throughs in a downtrend form a trend channel, which is a commonly used concept in the technical price analysis. The channels show where Bitcoin is trading at a particular time and compares it to the overall direction.
Price changes are not linear. That is why technical chart analysis utilizes levels of support and resistance — they showcase short-term trends within the overall trend.
Resistance shows where an upward trend is expected to pause or rebound. That means that there are many buyers concentrated at that time. Resistance can be used as an exit point for a transaction. A level of support can be used to predict where a downward trend can pause or rebound.