Buying and selling cryptocurrency can be a risky undertaking. While there is no one-size-fits-all approach to determining when to enter or exit a trade, there are a few critical steps you can take to hone your timing, that are equally relevant in both bull and bear markets.
In this article, we’ll also explore a newly introduced, game-changing crypto exchange feature, which ensures that even though there is no such thing as a foolproof trading strategy, there is one unique way to ensure a profit every time you buy or sell crypto.
4 Steps to Timing Your Trades Right
Improve your timing by taking the following steps:
- Research Your Chosen Crypto Assets
Before buying or selling any cryptocurrency, it’s important to research the coin thoroughly. Look at its price history, its market capitalization, and any news or developments that may affect its value.
- Set Portfolio Goals
Determine what you want to achieve by buying or selling cryptocurrency. Are you looking to make a quick profit, or are you in it for the long haul?
- Track and Analyze Markets Trends
Keep an eye on market trends and patterns. If you see a trend of rising prices, it may be a good time to buy. Conversely, if prices are falling, it may be time to sell. Perform technical analysis to help you make decisions about buying and selling cryptocurrency, studying charts and using mathematical models to identify patterns and trends.
- Implement a Risk Management Strategy
It’s important to remember that cryptocurrency is a highly volatile asset class, and prices can fluctuate rapidly. Consider setting stop-loss orders, trailing stops, and fund allocation limits for each asset and each trade to minimize potential losses.
The ArbiSmart Exchange Reward Program
ArbiSmart is an EU authorized financial services platform for the secure storage, purchase, and exchange of FIAT and crypto. The platform has just introduced an exchange reward program that is generating a lot of industry buzz.
Purchasing FIAT and Crypto
With the new program, you have a range of discount options from 10% to 50% on every currency purchase. The available discount sizes, and the conditions for receiving each one, appear as soon as a currency is chosen. These include a minimum purchase amount, and a vesting period – a time frame during which the funds are held on the platform before they become eligible for withdrawal. The longer the vesting period, the higher the discount. In a few cases, you may also be required to hold a sum of RBIS, the native token, for the length of the vesting period.
Example: You decide to take advantage of a 30% discount on the purchase of €1,500 worth of Bitcoin, for which you are required to abide by an 18-month vesting period. You pay just €1,050, while the full €1,500 worth of BTC is instantly credited to your balance. However, the funds will only become available for withdrawal once the specified vesting period ends.
The exchange reward program also offers unmatched terms for selling crypto. You will receive three times the market value, in EUR, when you sell any of the 25 different digital currencies supported by the platform, except for RBIS, for which you will receive ten times the market value, in EUR, or USDT. The conditions for receiving the preferential rate include a minimum purchase amount, which is different for each currency and a 24-month vesting period.
Example: You sell €800 worth of Ripple, €2,400 worth of XRP will immediately be credited to your balance, although it will only become withdrawable after 24 months.
This means that you are locking in a profit of an extra 200% above the current market value. So, if the price of the coin you are selling recently dropped to half its value, you are not only stopping the bleeding but still making a profit on a sale that, with any other exchange, would have resulted in a loss.
Equally, if your chosen coin tripled in value since you originally bought it, by selling at three times the price you are locking in six times your initial investment.
As we can see, with this one-of-a-kind crypto exchange initiative, you can ensure a profit on your purchase or sale, without having to worry about getting your timing exactly right. Give it a go. Exchange crypto today!
*This article was paid for. The Cryptonomist did not write the article or test the platform