Where trade cryptocurrency you ask? On your laptop on an exchange? On the beach, at home on holidays. Too many choices? There are new exchanges popping up every day offering ways to trade but they are not all equal. No one exchange will be a good fit for everyone because the way we all trade is different our needs are all different our locations are all different. There are tons of options, let’s explore some.
Lots of options
When it comes to trading crypto online there are thousands of ways to trade and make money. Some good some not so good. You can trade using a trading bot if you want, you can let someone manage your trades, you can “copy trade”. Some are reputable a lot I would say are not. Who are you going to trust with your coin? At the end of the day to trade, you have to exchange something of value and hopefully receive more value back. That is why I place my trades myself on a trusted exchange. Like I have said before I don’t think anyone else has my best interests in mind when it comes to my money.
How many crypto scams have you seen out there invest $250 become a millionaire overnight WOW! Is this where you want to trade? You have all seen those dodgy Facebook ads.
Where Trade Cryptocurrency – I Choose a Reputable Exchange
A reputable exchange not only has a lot of liquidity which is good for trading but usually has a lot more options as well. When I say options I mean a good variety of coins to trade and also different ways to trade. Most now have mobile versions of their platforms which can be a bonus as well. You need to decide if you want to trade OTC with margin or are you only going to trade spot? I personally trade mainly futures contracts because this suits the way I trade, it may not suit you but I am sure you can find your niche.
Then there are fees to take into account they can eat into your profits if they are too high. Other factors like can I withdraw my coin easily, can I get support when I need it, they are a consideration that should be made as well.
So once you have worked out what exchange to use and I use more than one, you might find one is enough for the way you trade but through my experience, I have found that just one exchange doesn’t provide me with All the options that I want to use to trade so I have my crypto trading bank spread over two exchanges. Plus you know the old saying don’t put all your eggs in one basket.
OK, now Where Trade Crypto Currency? My, where is a dedicated workspace I have at home with a laptop and I run an extra screen so I can get a good view of my charts or multiply charts without clicking through tabs. Occasionally I will make adjustments to trades on my phone when I am out and about if I am still in a trade but mainly just use the phone to view positions on the run. My recommendation would be to set up a nice quiet place somewhere without distractions so you can make decisions with a clear mind and no emotion. That is just my recommendation especially if you are just starting. Having said that I know people that trade only from a mobile phone while living their normal life full of distractions and do exceptionally well.
Different strokes for different folks I guess – I like to watch my charts on a big screen in peace and quiet. But hey whatever floats your boat.
Location, Location, Location
One of the great things about crypto though is that you really can trade anywhere, you are not locked into an office or factory-like in a day job. You might not be able to take your big screen with you but hey you can take a laptop and still trade comfortably.
Your physical location may play a part in which exchange you choose as well partly because it is easier to convert local fiat currency or link your local bank account and the verification process can be easier as well.
This is why I love crypto though because you can make your where anywhere really. What else gives you this sort of freedom when it comes to choices for making money???
Where? Anywhere – Really
There really are a heap of options when it comes to this in the crypto space. I have touched on different exchanges, different ways to trade and even different places to trade. At the end of the day you need to work out what is right for you everyone will be different so do your research ask questions, I am always available to answer your questions just shoot me an email at dave@2dsirecrypto and we can have a chat.
I will go into a lot more detail in future posts about a lot of this stuff so stay tuned. This is truly why I love crypto there are some many ways, choices and options to be successful at this game you just need to figure out the how and remember I am here to help you on that journey.
I hope I have answered some where questions now if I have missed anything that you want to know or just want to share your experiences feel free. Drop me an email email@example.com and we can have a chat about your where. But really with crypto your where can be anywhere.
Remember – Be the Best you can Be