When it come to trading cryptocurrency the sky truly is the limit.
Best Exchanges To Trade Cryptocurrency
There are plenty of different exchanges where you can trade crypto, (we recommend Bleutrade as well as Bittrex … we have not traded at them all, so don’t consider this a total compendium of reviews of all of the different exchanges out there.
You Gotta Watch Out
We’ve seen most – and traded at more than a dozen of them – although we weren’t far enough along in the game to get taken by the Mt. Gox implosion. We did experience losses from the CryptoRush exchange implosion as well as the Mintpal fiasco.
We are far enough along in the cryptocurrencies trading arena to give you some tips. We’ve been at this since early 2014 which is quite a long time in the cryptocurrency trading time frame.
Top Tips For Trading Cryptocurrency
Many people start out with Bitcoin and then use that to buy other alt coins (cryptocurrencies).
If you are thinking about trading alt coins/cryptocurrencies then it’s imperative that you know going in that it is possible that you will lose all of your trading capital.
What this means is this… don’t “invest” more than you can afford to lose.
It’s bad enough that an exchange owner (or owners) might just run off with all of their client’s Bitcoin/cryptocurrencies – or that the exchange might get “hacked”, and all of the user’s “money” stolen.
Update December 2017: We haven’t had any problems trading at Bleutrade or Bittrex and we’ve been trading at both exchanges for 2 – 3 years now.
A trader also needs to contend with his/her own emotions.
Trading cryptocurrencies is exactly like (day) trading stocks, or trading in the forex or commodities markets. If you don’t have a clue what you are doing you are going to lose all of your money – no question about it.
Trading At Bleutrade
We made the video below way back in 2014 – Bleutrade’s trading interface is different now, but the “how to fund your account” is still valid.
To be continued…