Against the backdrop of international events, traditional stock markets are behaving erratically. This has forced investors to look for new ways to preserve capital and safe haven assets. BTC has been the choice of many.
Although many traders have tried to enter the cryptocurrency market in recent months, not all have managed to profit due to committing trivial mistakes. Cryptocurrency trader Bexplus, a professional with 20 years of experience, shared his tips on how to make money trading Bitcoin and how to profit from cryptocurrency trading.
Comprehensive market research
Market participants tend to listen to expert advice or enter the market without a full understanding of the concept and terminology of the crypto market. Often in such cases, the trading results are unsatisfactory.
Regardless of what
industry you are in, you need to systematically gain a basic understanding of the new field when trying to learn a new direction.
Only a full understanding of the cryptocurrency market, as well as the geopolitical situation and possible changes in the world, can give you insight into when to enter the market and when to close a position.
Don’t trade based on emotions
Newcomers often invest more money than they can afford to lose in the hope of making super profits. However,
when the market starts to fall, inexperienced traders panic and sell their positions at a loss.
Trading under the influence of emotions is a common problem. The risk of losing your deposit is much higher when you make a decision based on emotions, not reason.
Setting a stop-loss or take-profit
In a volatile market, every speculator wants to make as much profit as possible, while the loser does not want to accept the losses and tries to win back his losses. For all traders setting a stop loss (to stop losses) or take profit (to take profits) will help maximize profits. As long as there is a position, you can always open the next order.
Choose a copytrading trader with the right strategy
Many people enter the market after learning basic market terms and open long or short positions without fully understanding what they are doing and end up not getting the results they want.
The copytrading feature offered by some cryptocurrency platforms can be a good help for beginners. Copytrading allows experienced traders to automatically copy trades. Bexplus is a professional cryptocurrency trading platform that offers high leverage and supports the copytrading feature.
The copytrading strategy on Bexplus gives every investor who has just entered the market the opportunity to trade like a professional trader. You can copy orders of expert traders as well as adjust the copy ratio, set take profit and stop loss or stop the copied order at any time.
Learn more about Bexplus
Bexplus gives everyone the opportunity to open a demo account with 10 BTC in order to better understand the laws of market fluctuations. You can use the demo account to try out the investment ratio, get acquainted with leveraged trading, understand the laws of the market and choose your own profitable strategy.
Bexplus is a robust cryptocurrency futures trading platform that is licensed as a money service provider (MSB) by the Financial Crimes Enforcement Network (FinCEN). The platform offers futures trading with 100x leverage on various trading pairs: BTC, ETH, ADA, DOGE, XRP. No KYC is needed to make trades, and more than a million people worldwide are already trading on the exchange.
100x leverage: the fastest way to maximise profits
A hundred times the leverage offered by Bexplus Exchange allows you to open 100 positions with a margin of 1, and trade 100 positions in the market. With 100 times leverage, the profit can be 100 times more than the profit made on the initial investment.
Suppose a user opens a short contract with 1 BTC, when the bitcoin is trading at $42,000. After a day, the bitcoin price has fallen to $38,000. The profit will be ($42,000 – $38,000) * 100 BTC / $38,000 * 100% ≈ 10.5 BTC. Thus, the ROI will be 1050%.
100% deposit bonus
addition to 100x leverage, Bexplus offers a 100% deposit bonus, which allows investors with even small deposits to quickly generate high profits. If a deposit of 1 BTC is made, 2 BTC will be credited to the account and the user will be able to trade those 2 BTC to make large profits. Although the bonus cannot be withdrawn, the profits made with the bonus can be withdrawn from the platform. It is possible to get up to 10 BTC in the form of bonus.
Accumulative bitcoin wallet with an annual interest rate of up to 21%
If a customer is hesitant to open long or short positions in a fast-changing market, Bexplus offers a safe way to make money – a bitcoin wallet with an annual interest rate of 21%.
Mobile apps: Google Play and Apple Store
Bexplus can also be used from a mobile device – the exchange app is available for both Android and iOS. With the Bexplus apps you can make trades anytime, anywhere and
whether you’re a novice or experienced trader, Bexplus provides trading tools that will appeal to beginners and advanced traders alike.
Click here to sign up for a 100% deposit bonus.