Cryptocurrency rates are changeable, and they may move up and down rapidly and many times a day. It opens many earning opportunities for those who speculate on crypto prices. Traders buy and sell cryptocurrency speculating on their price changes during one day or in a long-term timeframe.
For that purpose, they use cryptocurrency exchanges that enable trading tools for fast transactions, bots for automated trading, and other instruments for efficient trading.
So crypto trading is transactions with crypto when you buy cryptocurrencies at a lower price and sell them at a higher rate. The process may be extended in time – some crypto trading strategies imply short-term positions and making income daily, others mean a longer period.
The most popular crypto trading strategies:
Let’s find out what strategy implies buying/selling cryptocurrency within one day.
Day Trading
This type of trading means that a trader opens and closes positions on buying/selling cryptocurrency within one day, making a profit on price changes during 24 hours. Traders earn profit from every little market fluctuation many times a day. It is a highly risky strategy, for it requires quick decisions and reactions, and it is possible only if you have enough experience in trading.
The WhiteBIT cryptocurrency exchange allows using a demo account for practising different crypto trading strategies. The platform offers specially designed tokens for demo trading. You cannot lose or cash them out. So without fear, you may practice buying selling cryptocurrency and become more confident using different trading tools and features.
Demo trading helps develop a quick reaction to the market fluctuations, find out pitfalls you may miss out on when trading on real, and learn how to make fast decisions on “bear” and “bull” market trends changes.
