Crypto Trading For Beginners: A Step-by-Step Guide to Making Consistent Money from Crypto Trading

By Benjamin Stephen

Are you looking for a way to make consistent money in the world of cryptocurrency trading, but don't know where to start? Then "Crypto Trading for Beginners: A Step-by-Step Guide to Making Consistent Money from Crypto Trading" is the book for you!

This comprehensive guide is designed for those who are new to cryptocurrency trading and want to learn how to make consistent profits from their investments. With clear and easy-to-follow instructions, you'll learn everything you need to know to get started, from setting up your trading accounts to reading charts and technical indicators, managing risk, and making profitable trades.

But this book is more than just a beginner's guide. It includes advanced techniques and strategies that will help you take your trading to the next level. And with a detailed discussion of P2P (peer-to-peer) trading, you'll learn how to buy and sell cryptocurrencies directly with other individual and make consistent money from crypto trading without losing your capital.

Don't let fear or uncertainty hold you back from taking advantage of the incredible opportunities that cryptocurrency trading offers. "Crypto Trading for Beginners" will give you the confidence and knowledge you need to succeed in this fast-paced and exciting market.

So don't wait any longer. Order your copy of "Crypto Trading for Beginners: A Step-by-Step Guide to Making Consistent Money from Crypto Trading" today and start your journey towards financial freedom and success!

• Language: English
• Publisher: Publishdrive
• Release date: Mar 2, 2023

Book preview

Introduction

Cryptocurrencies have grown in popularity as an investment asset, with many people making large sums of money by trading them. However, the cryptocurrency market can be extremely volatile, and investors can easily lose their investments if they do not have a thorough understanding of the market.

This book, " Crypto Trading For Beginners: A Step-by-Step Guide to Making Consistent Money from Crypto Trading," is intended to provide you with the knowledge and skills you need to successfully navigate the cryptocurrency market. This book will provide you with practical strategies and tools to trade cryptocurrencies profitably, whether you are a beginner or an experienced trader.

We will cover the fundamentals of cryptocurrency trading in this book, including how to analyze charts, identify trends, and practical strategies to make money with ease. We also look at the various tools and platforms for trading cryptocurrencies and provide real-world examples to help you apply the techniques discussed.

This book is written in simple, easy-to-understand language, making it suitable for all readers. The step-by-step approach will walk you through the cryptocurrency trading process, and the practical examples will help you apply the strategies in real-world scenarios.

By the end of this book, you will have a thorough understanding of the cryptocurrency market, as well as the tools and strategies required to profit consistently from trading. It's time to regain control of your finances and begin profiting from the lucrative world of cryptocurrency trading.

Chapter One

Introduction to Crypto Currency

A cryptocurrency, sometimes known as crypto, is a type of digital money that can be used to pay for goods and services online. Strong encryption is employed to secure the online ledger where transactions are recorded. Numerous businesses have released their own money, frequently referred to as TOKENS. These uncontrolled currencies attract a lot of interest from traders looking to make a profit, with speculators occasionally sending prices extremely high.

Blockchain technology is used in cryptocurrency, and it is a decentralized technology that tracks and manages transactions across a number of computers. The security of this technology is one of its appeals.

Benefits of Crypto currency

Some cryptocurrency proponents enjoy the fact that central banks are no longer in charge of controlling the money supply because, over time, these institutions have a tendency to cause inflation to lower the value of money.

Some individuals prefer the blockchain technology that powers cryptocurrencies because it is a decentralized processing and recording system that has the potential to be more secure than conventional payment methods i.e. the transactions there are extremely transparent, thus there is no space for error.

In the conventional banking system, the money would be given to the nominee upon death. When you violate the terms of service, there is a potential that your account will be closed. The best thing about cryptocurrencies is that both the private and public encryption keys will belong exclusively to you.

Only the sender and receiver would be involved in the transaction under decentralization. No longer do you have to interact with any outside parties. Nobody is keeping an eye on what you do.

Compared to banks, transactions are carried out easily and with a cheap transaction cost.

Cryptocurrencies and Their Distinct Use Cases

Based on their intended use, cryptocurrencies can be broken down into four major categories. We have roughly divided cryptocurrencies into four groups, each based on their intended use.

Payment Currency

Bitcoin was the first successful digital payment cryptocurrency, serving as a medium of exchange and peer-to-peer electronic cash to facilitate transactions. It has its own blockchains, which prevent smart contracts and Dapps from running on them. Payment cryptocurrencies such as Bitcoin, Litecoin, Monero, Dogecoin, and Bitcoin Cash have a limited number of digital coins that can be mined, making them naturally deflationary. (It has consistently increased in worth over time). As seen by data from coinmarketcap.com, the value of a single bitcoin has increased from its 2009 level of around $1 to its current level of around $24,000 as at the time of writing this book.

Stablecoins

Stablecoins are built on a blockchain and are intended to serve as a store of value. They are linked to a physical currency, usually the US dollar or the Euro. Holders can exchange their fiat currency for USDT or redeem their USDT directly with Tether Limited for $1. Since the worth of a stablecoin is pegged to the worth of a fiat currency or another asset, it makes sense to classify stablecoins as assets. The value of USDT, for instance, is based on the dollar. Gold GLC's worth is pegged to the price of gold. Previously, when investors wanted to get out of one cryptocurrency, they could do so by exchanging it for either another cryptocurrency or traditional cash. Thanks to stablecoins, they have the option of staying within the crypto ecosystem by swapping their cryptocurrency for a more stable crypto.

Stablecoins, on the other hand, are not subject to government regulation or oversight. TerraUSD and its