CRYPTOTRADING

Cryptocoins can be traded and are largely traded in popular exchange sites, like Kraken, Poloniex, Brexit, etc. Unlike normal currencies which can be produced to infinite quantity. Cryptocoins have a predetermined amount and this depreciates over time as the coin is used. cryptocoins are treated just like precious metals although their value still depends largely on demand and supply just like normal currencies, so despite the potentials of a coin to increase in value there are still risks involved.
Currency trade involves one major factor and that is value, a coin may have low market value today and thus low price, but tomorrow it becomes a different ball game as that same coin becomes a highly valued coin. it is thesame with normal currencies, the trick in currency trading is to by a low valued currency and sell it at a higher market value. Unfortunately not all cryptocurrencies with low value are profitable or has the potential to increase in value, it is thus very important to consider the following before even attempting to trade cryptocoins.

1. START UP: To get started, you must have a cryptoexchange or e-wallet, then you must register with an exchange site that deals with the currencies you wish to trade, and lastly ensure that you choose a popular currency that is already widely accepted with huge market cap as your starting currency.
2. INVEST WISELY: Do not sink all your life savings into cryptotrading, ensure that you are only using what you can afford to lose. Cryptotrading is not a get rich quick scheme as such you must be ready to make losses if your investment is a bad one.
3. DO YOUR OWN RESEARCH: Don't rely on other peoples advise when it comes to cryptotrading you may take the bits and pieces but don't swallow everything like a fish ensure that you have researched on your target coins properly before you begin to invest. this include studying the market value and the potential value of the coin.
4. KEEP UP WITH THE TREND: Ensure that you are always up to date about your coins the moment you relax may be the time that losses creep in, news affects cryptotrading a lot as its major determinant of value is demand and supply, so ensure that you are always in  line with what is going on in the cryptoworld.
5. CUT YOUR LOSSES: when a coin is no longer doing too good learn to let go quickly it is very unwise to hold on to coins that are suffering huge losses, on the contrary when they are doing well do not be quick to sell off at a small profit, be patient so that you can reap more.
6. DONT BE AN ISLAND: you cant know it all in the cryptoworld, you need the help of other people so ensure that you have contacts of those who are into trading, join crypto forums and follow blogs that talk about cryptocoins so that you can see other people's view.
7. THE RULE: the rule is simple buy low and sell high, or buy high and sell higher there is no two ways about it. any other thing is a loss. Don't ever forget this rule while trading.
8. VOLATILE: Yes one of the most important aspect of crytotrading is that the market is extremely volatile, the price of a coin may go high and go low in thesame day, this rise and fall in price is called the volatility of a cryptocoin, the more the volatility of the coin the more profitable it would be if you are interested in short run gains, this is typical of day traders who capitalise on it to make small margin profits, but its often very risky to rely solely on the volatility of a coin.
9. PATIENCE: Patience is a virtue and the in cryptoworld without it you would end up making huge losses, on your returns, it is very important to know when to quit a coin and when to hold it, and more importantly it is very wise not to give up on a coin that is doing badly, especially when the coin has a high market potential, the key here is to buy in when it is low and wait for it to go up again. Good coins always make gains in the long run.