The Crypto Trading Manual is the ultimate trader’s guide that is going to teach you everything you need to know to get started trading with Bitcoin and other cryptocurrencies.
It is designed to save your time and prepare you for a journey towards becoming a profitable cryptocurrency trader.
You will learn everything from where, how, and what to do to start trading, what moves the markets, key insights, trading tools, and methodologies.
Remember: Trading & investing involves risks and profits are not guaranteed!
New to Bitcoin? – We strongly recommend you first start by reading:
- What is Bitcoin? – Understanding What it is, and Why it Matters.
- How to Get Started with Bitcoin Investing | Step By Step Guide!
How Do I Start Trading With Bitcoins?
The absolutely first thing you need to do before you can learn how to trade cryptocurrencies is to acquire some Bitcoin. And since Bitcoin is still a young and volatile asset it is considered a highly risky investment for most people. This is why we suggest you purchase any amount you can afford to lose and treat it separately from your personal holdings. This also means that you should not focus on your bitcoins value in terms of USD because we are here to make more bitcoins, which will appreciate in value in the long run, and if you perform well as a trader you are going to be making more dollars as a by-product anyway.
That being said, there are few different ways to acquire Bitcoins, but the quickest and easiest is to just buy them from an exchange. Go to Best Crypto Exchanges for an updated list of over 80+ exchanges or just use one of these options:
Changelly – Great when you want to purchase Bitcoin using a Credit Card.
CEX.IO – Reputable old exchange with worldwide coverage, excellent for bank transfers.
HodlHodl – Best if you wanna hook up with local sellers anonymously and use physical cash.
After you have purchased your first Bitcoins, open a Bitcoin trading account with one of the top margin trading exchanges like Bitmex, Bybit, Deribit, OKEX, or Huobi. Alternatively, you can also get into trading traditional forex markets with Bitcoin on exchanges like SimpleFX, PrimeXBT, FXopen, and Avatrade.
Now before you actually do any of this we of course recommend you first finish reading the articles we already mentioned, and the rest of this article. And only then, continue taking the necessary steps to purchase your first Bitcoins.
Because managing your own coins is not a joke, you are quite literally your own bank, and therefore it’s always important to learn the steps to secure and protect your private keys.
Not Your Keys, Not Your Bitcoins.
To understand how the markets work, what moves the market, what is the difference between investing and trading, what is margin and so on, continue reading further.
Understanding Markets
At its core financial markets are nothing but the biggest money-making scheme in the history of mankind, they are simply created to profit from the ignorance of the masses. What I mean by this is if everyone was taught about money and the markets in school as it actually should be, the world would be a lot more balanced place for us all. The average joe simply doesn’t know how their everyday fiat money is created, and how the system behind it works. This is all created to be difficult to understand for a reason, the people are the top don’t want you to prosper, they want to keep you working your ass off as a slave to the system.
We were all taught the basic things in schools such as how we evolved from a bartering system to using gold and silver to now using fiat currencies. This is all great but it’s leaving out a lot of crucial things, such as the fact we are still in a bartering system. Nowadays the world just works quite a bit more efficiently, yet the same thriving forces are still there in the markets just as they were thousands of years ago when someone wanted to exchange a sheep for a cow.
That being said Financial markets are simply that an exchange of value, just as we used to barter in the wild, we are now bartering using our electric devices, the goods traded that we call fiat currencies which are merely an illusion of value still have the same fundamentals as it was thousands of years ago. The only main difference is most people are not taught what creates value, how it is perceived or what it is anymore. True value is determined through the basic laws of supply and demand, the more scarce something is the more valuable it usually becomes, and the opposite is just as true.
The thing is the masses have no clue when it comes to terms such as inflation and fractional reserve banking, the banks can quite literally print money out of thin air inflating the money supply making your dirty fiat paper lose its purchasing power and therefore everything becomes more expensive. Bitcoin and precious metals are different in the sense that they are scarce and are considered to be sound money, making them rise in value compared to fiat currencies, this is because their supply can be calculated, and this information is available to everyone.
When you truly understand that fiat papers will continue to decrease in value because of the constant printing, you quite literally have the keys to growing wealthier for the rest of your life.
This is because wealth moves from those who value it the least to those who value it the most. And while the poor are being taught to work for other people, rich people are being taught to protect their assets and to put their money to work for them.
The “secret” sauce that everyone’s been looking for therefore remains the same. You make money, and you then use that money to make more money.
What Moves The Cryptocurrency Market?
Now that you hopefully understand the basics laws of supply and demand, and see how you can use it for your advance, let’s go a bit deeper with another common concept that most average people have no idea. And this is that Price & Value are not the same!
For example, if you were on a desert island, then obviously a hundred-dollar bill can’t purchase you a big mac, but instead, it’s excellent for fire-making. Similarly, any event affecting the current monetary system negatively can have tremendous positive effects on assets that are considered sound money.
The cryptocurrencies just like all other markets are driven by the same forces of supply and demand. But this doesn’t mean that positive news will move the price up, and the opposite is also true. A market can remain irrational longer then you can remain rational.
A large variety of factors can have an impact on price, such as fear, greed, news, technological progress, politics and government regulations and so on.
However, one thing is true, since we are all trading through electric devices when you are observing at the charts printed on your screen what you are actually seeing is human emotions represented in charts.
And this is essentially all that matters in trading because the screen you are looking is in 2D the only options for the market is to either go up or down, you’ve quite literally had 50/50 chance to be right at which direction the market will take at any given moment. Now it’s true this is very simplistic thinking and the fact of the matter is 95% of retail traders lose, changing your perspective can be quite a profound in the long run.
Trading VS Investing
Most people actually don’t even know there is a difference between these two. This is because most people have been conditioned by the schooling system to trade the best years of their lives for education which only teaches them to follow orders and not to question what they are being taught.
When we are talking about investing in terms of wealth, generally, we are talking about something which is for the long term such as investing in properties or investing in Bitcoin and precious metals because of the value propositions they provide versus the fiat currencies.
In the late 2017 Bitcoin skyrocketed through the roof towards new highs ending up touching 18.000$ and more making a bunch of investors millionaires. While this sounds amazing, a large amount of these people who made a lot of money including the new investors who bought at the top ended up holding their bag and losing most of it. This is because they were having the holding mentality and lacking the trader within themselves.
This is how beginners often start and trust me when I tell you there is no successful trader who has not gone through this process as well.
Trading, on the other hand, means actively participating in the market in a way that you are detached from the noise so you can make decisions based on probabilities instead of emotions. For example, imagine you had sold Bitcoins at the 18.000$ area and then bought back at 3500$ u would more then tripled your bitcoins and would now have larger bags then if you had just held on to them.
Coming to the cryptocurrency world, you might have heard the word “HODL” this translates to “Hold on to your dear life”. Since for many of us getting into crypto space, we understand that crypto is way more powerful in terms of money and getting rid of those dirty papers is all that matters. While to this day this actually does hold true and most likely will continue to do so, in the long run, it’s still wise to take the right steps and not put all your eggs in one basket. This includes both crypto and fiat as well.
The Basics of The Trade
To get started learning how to trade cryptocurrencies you need to understand the basic components of the trade. Essentially trading is a zero-sum game as every trade has two sides to it, one buys, the other sells. because of this, someone is about to lose.
A trade is executed and the market valuation is set, when two people agree on a price. Usually, you can observe both sellers and buyers setting orders a couple of digits away from each other. This creates what we call a spread between the sellers and buyers in the order book.
This is where you can observe the laws of the supply and demand playing out, as there are more buyers than sellers the price goes up, similarly when there are more sellers then buyers the price goes down.
The order book
This is where all the magic happens, the order book is what consist, the sellers, and buyers, reflecting the chart on the screen. This is where you can either bid for a coin or try to sell it at the price you specify. The constant market forces of sellers and buyers are what drives the market to a certain direction at any given moment. Usually, we can see this happening when the market is squeezing or other words not moving much for a period of time and then bursting at one direction with high volatility.
Candlesticks
Looking at any given crypto price charts you will notice right away the charts have colored lines on them usually green and red. These are the most popular chart styles and they are what we call candlesticks.
The candlesticks are meant to express what the market has done at a given time period, for example, green candlestick means that the market closed at a higher price than it opened at, and a red candlestick means the market closed lower than when it opened. The main body shows the open and close price and the tail shows the highs and lows.
Reading The Charts
Since Bitcoin operates worldwide there is a wide variety of fiat currency pairs when it comes to bitcoin trading. Depending on the exchange the most popular pairings are BTC/USD, BTC/EUR, and BTC/JPY, you may also find pairings such as CNY, CAD, and RUR.
Use TradingView to see all Bitcoin market pairs, or read our article on Best Crypto Price Charts.
For this example, we will be looking Bitmex and Binance, two of the world’s largest cryptocurrency exchanges in terms of the trading volume.
Bitmex has fully customizable software, you can drag each element and change the size by clicking and dragging from the right corner. In this view starting from the left we have order execution area, this is where you can place your order, and choose the amount of leverage you willing to use. Next, there is an Order book, and chart, below the chart you will see volume, and next to them recent trades. At the bottom we find Positions, orders, fills, and history of all trades.
To learn more, read our article on Best Bitmex Alternatives.
Binance has two trading views, this is their advanced setup, it is not as customizable but does work just as well. Starting from left we have the chart, below that volume, orders, history, and funds. On the right side, we have an order book, recent trades and order execution area, pretty straight forward.
To learn more, read our article on Best Binance Alternatives.
Timeframes
Most charts you’ll find online have the option to change the time frame of the candlesticks. Usually, this can be changed from a couple of weeks to minutes.
Chancing the timeframes provides a way to see the market from different perspectives. The best way to use this is to first start from a larger time frame candles such as weekly or daily, and then zoom in to see how the market behaved withing those specific times.
Margin Trading
Margin trading is the act of borrowing Bitcoins at an interest rate to leverage the size of your trading capital, This adds enormous power to your account maximizing the profit potential.
The cryptocurrency market is very unique compared to traditional markets since many crypto trading platforms allow traders to take leverage with initial capital as low as 10$ while in traditional markets traders often need up to 20.000$ or more for the same results. Some cryptocurrency exchanges actually let you borrow leverage up to 100x your initial capital. Think about this for a moment, 100x leverage on 1000$ is 100.000$. This gives you an insane amount of profit potential if you manage to catch even a small move at the right moment. However, the downside of leverage is you can also lose just as fast if you don’t know what you are doing. Leverage can be a great tool for traders who are executing their trades with a plan, but it can also be catastrophic if you don’t treat trading like a professional.
Exchanges such as Bitmex, Deribit, SimpleFX, and Bybit are just a few examples of which you can use to borrow Bitcoin with up to 100x leverage.
Note that you better not use 100x leverage, and instead try 2-5x.
To view our full list of the best spot & margin trading exchanges, click here.
Looking at this example, if we had taken long at around 3500$ area with 10x leverage and then sold around 13.000$ the profit would be over 2650% or 26.5 times our initial investment.
Now, all that being said, to create wealth through cryptocurrencies, traders should earn the right to leverage through first learning the tricks and traps of the markets, although it is one of the quickest ways to make huge returns, it is also highly risky and can end up costing your account and all the balance within it.
Order Types
When trading cryptocurrencies it is also important to understand what type of orders you can use. There are few different order types every trader needs to know about, and in this example, we are going to look at the most important ones, which are Market order, Limit order and Stop order.
Market Order
Market orders buy or sell at the current price, whatever that price may be. In an active market, market orders will always get filled, but not necessarily at the exact price that the trader intended. For example, a trader might place a market order when the best price is $9500, but other orders might get filled first, and the trader’s order might get filled at $9505 instead.
Market orders are used when you definitely want your order to be processed and are willing to risk getting a slightly different price. If you are buying, your market order will get filled at the asking price, as that is the price someone else is currently willing to sell for.
If you are selling, your market order will get filled at the bid price, as that is the price someone else is currently willing to buy at.
Limit Order
Limit orders are orders to buy or sell an asset at a specific price. Limit orders may or may not get filled depending on how the market is moving, but if they do get filled it will always be at the chosen price.
For example, if a trader placed a limit order with a price of $9500, the order would only get filled at $9500. Limit orders are used when you want to make sure that you get a suitable price and are willing to risk not being filled at all. The order only gets filled if someone is willing to sell to you if you are buying at $9500, or below.
If you wanted to sell at $9500 you could use a sell limit order. The order will only be executed if someone else is willing to buy from you at $9500 or above.
Stop Order
Stop orders are similar to market and limit orders, but these orders are only processed if the market reaches a specific price.
For example, if the current price of an asset is $9500, a trader might place a buy stop order with a price of 9600. If the market trades at $9600 or above, the trader’s stop order will be processed either as a limit order or market order.
Stop orders are processed either as a limit orders or market orders, so if the stop or trigger price is reached, the order will always get processed, but may not necessarily get filled depending on which order type you choose.
Stop orders can be used to enter a trade, but also used to exit a trade, typically called a stop loss. For example, if a trader buys a Bitcoin at $9500, they may place a sell stop at $9450. If the price reaches $9450 or below, the sell order will be executed, getting the trader out of the position at $9450 or below, limiting the loss on the position.
If a trader is short at $9500, they may place a buy stop at $9550 to limit their loss. If the price reaches $9550 or above the buy stop will execute, closing the trader’s position at $9550 or above.
Four Main Types of Cryptocurrency Trading
One of the best things about trading is that you are not responsible for anyone else other than for yourself, meaning you are your own boss. Being your own boss means you make up your own timing seduce, and hone your skills the way you want them. And one of the most important things for traders is to figure out is which timeframe they are the most competent at. For example, I myself am best at predicting moves to the exact minute, which means I might catch up to 20 trades per day depending on the market conditions, but obviously, if the market structure is good I might find myself holding a couple of swing trades here & there as well. Because of Bitcoins’ 24/7 nature, catching the exact position can sometimes be quite challenging specifically if you live in a European timezone since most major moves tend to happen at night time during the Asian open.
Day Trading
This is the shortest trading timeframe, day trading simply means you enter and exit your position within the same day. This is where I find myself most of the time, and as I was saying above if the market conditions are right I might have plenty of trades during the day. It is important to only trade when there is a significant volume. since often the market tends to go sideways for days and if you find yourself trading during these times, it might easily eat up your profits or you might find yourself fighting for pennies. Day trading can be one of the most hardest and yet most profitable activities if you find yourself capable of spotting the moves beforehand and somehow manage to be up during the time the moves happen as well.
Swing Trading
This is when you hold a position anywhere from few days to few weeks, swing trading can be highly profitable with bitcoin as the market price action typically tends to play out over the course of a few days. Not everyone is capable of watching the charts all day at a minute timeframe and this is understandable, and why should you, if you can pick a nice trend and slide a piece of it which could easily equal 15% to 50% moves.
Position Trading
Position trading is a form of investing. It’s when you hold or build a position for months or years to come before cashing out. For example, I been positioning myself with cryptocurrencies for years and will continue to do as the fiat system becomes even more fragile. Another good example is if you had managed to buy into some of these other cryptocurrencies at the bottom of the market during 2014-2016, you could still hold many of these coins and be in profit even tho the market has taken the incredible slide to the downside.
Position trading does not mean you simply randomly buy and hope, it means you use strategies to identify the key zones to buy, or you happen to find highly undervalued asset which mathematically speaks for itself as Bitcoin did in the early days.
Another good position trade that should not be ignored as the fiat system crumbles which we have been looking as well is obviously buying precious metals such as gold and silver.
Arbitrage Trading
Arbitrage trading is the act of simultaneously buying and selling different cryptocurrencies on different markets to profit from the price difference between those markets. And since cryptocurrencies are still somewhat young asset class, there are a number of different arbitrage opportunities that exist in the cryptocurrency exchanges. A simplified example of how cryptocurrency arbitrage would work would go somewhat like this: You purchase coins on KuCoin, because the price is cheaper than on Binance, and then simultaneously sell coins on Binance, and pocket the difference.
The New Trader VS The Old Trader
When it comes price charts and trading cryptocurrencies, most newbies tend to focus on the wrong things.
We’ve all seen it, that guy in twitter who got his charts loaded up with the fanciest colors lights and whatnot, or the perfect combination of indicators, such as RSI, MACD OBV. These are just names of the few.
The truth of the matter is you don’t need any of those indicators to be a professional trader, actually the simpler you can make this, the better and more profitable you can become. No, I’m not saying those indicators can’t be useful, I myself know ins and outs of most of them yet I find myself never needing or even having the time of the day to load them on my charts to see what is actually happening on them.
Most indicators you find are also lacking, meaning they follow the price, to get the best results on trading, focus on price action instead, it is what matters the most.
Professional traders see the charts as they really are. It’s more about understanding how emotions drive the markets, and that the charts are merely a reflection of those emotions playing out.
Identifying The Trend
The market is actually quite simple when you get a hold of it since it moves in cycles and can only do one of three things at any given time, those are: Trending, Channeling and Breaking out. And since markets don’t go straight up or down, it is important to identify the current cycle for you to anticipate the next move.
The easiest way for new people to make money is often during the bull trend, this is because this is the easiest type of trade for most people to take. You simply enter the trade once a market has established a clear direction. The problem is once the bull trade is over new traders tend to hold on and miss the opportunity for the next trade, forcing them to give it all back.
You might have heard the common phrase, buy low, sell high, yet typically new people tend to be late to the trend and therefore are doing the opposite, they are buying high and selling low.
In the trading world, profits are made by identifying the trend early and then positioning yourself for the coming move. It doesn’t really matter what price you buy or sell, as long as there are more people wanting to do it after you as well. Trends can also develop on both sides of the market, and the fear is stronger than greed, this is why we often see bulls building steady steps upwards, and bears then taking the elevator down.
Trading Against The Masses
As the human species was developing in the savannah thousands of years ago, there was no room for mistakes since a predator might have been getting ready to eat us in the very next bush. Overtime humans learned to depend on their instincts, stick together, and take the safe bets, all this for the survival of our species which eventually let us conquering the whole world.
These skills were what kept us alive to the modern age, the thing is in the modern age we live in a quite different world, and there is no longer tigers jumping at us on the bushes, and yet our brain has the very same survival mechanics. This survival part of our brain is what keeps us from making profits.
You see, the reason people get caught up on the bull run when everyone else has driven the price up, is because it’s a lot easier to follow the herd then it is to buy when everyone else is panicking, and this is just part of the basic human nature. That is why markets tend to reverse when the mass majority of people are expecting them to continue.
Another common phrase among traders is FOMO: Fear Of Missing Out.
Trading against the masses at the simplest means, that you must learn to understand what the mass majority of people are thinking, so you can anticipate their next move.
Understanding Market Structures
A very common mistake for new traders is that they tend to focus on a minute time frame trying to catch every move or simply buy and hope without having any plan at all. I mean you wouldn’t do a brain surgeon without first at least learning the tools, the methodology and so on.
The same applies to trading, and one of the key methodologies that you must learn as a trader is to read price charts the same way you read books, from left to right. History tends to repeat itself, and this is a key as a trader since you are able to look back on charts and see the major price levels, these are called support and resistance.
See the thing among all markets not just with Bitcoin is that they tend to move from a major support or resistance area to another major area. It is also important to note that when resistance breaks, it turns to support, and once support breaks, it turns to resistance.
The markets may also squeeze between the sellers and buyers forming triangles, channels, and other patterns. And knowing this is actually very important since the human brain is amazingly good at pattern recognition making it our advance.
The major key here is to focus on the larger time frames to detach from the noise, then zoom in to see what the market is actually doing between the major zones, and prepare your trades ahead of time.
Focusing on the major price zones will save your time and energy, prevent frustration and make you a better trader.
Altcoin Trading & Investing
On top of Bitcoin, there are hundreds of other cryptocurrencies to choose from, these are called altcoins, and although many of these coins are total scams and should be avoided at all costs. For active everyday day traders, altcoins with volatility can provide a great number of trades and endless trade opportunities even at bear markets. And every now and then you might find hidden gems that offer something new to the industry.
If you have some Bitcoin on the side, you could totally also try to invest in altcoins, it is important to select coins that have the highest fundamental probabilities for large future gains. In reality, no one can predict the future rise of any altcoin, however, some coins do perform better either because of their technical advancements, marketing or some other reason that affects the masses.
Investing in altcoins can be highly lucrative since this is where you can actually find the biggest gains in the cryptocurrency space in terms of percentages because low liquidity many of these coins have actually pumped up to +20.000% and more which are astronomical returns compared to traditional markets.
The key to investing altcoins is doing proper research at which coins to get in and when to get out, similar to traditional markets most coins go through boom and bust cycles and many of these coins end up being totally worthless eventually. That being said, every now and then new coins pop out that might change the industry a little bit, these are the hidden gems you wanna be involved with, such are Ethereum, Monero, and Dash.
Altcoins that are relatively new with short price history often don’t have a clear bottom to which you can compare the price. This is important because you do not purchase coins that have not yet defined a clear bottom, meaning you do not want to chase the price but instead wait for it to come to you.
After a coin has defined a clear bottom and comes back to its former lows, we can then use this previous low as a bottom support. This is because when there is no former bottom to compare, it’s hard to know how deep the price could still fall.
Using coinmarketcap.com, the industry’s most widely used and popular crypto price tracker, you can easily find all the charts and prices of all key altcoins in the crypto space.
The major fundamental difference with investing in altcoins versus traditional markets is also that since most cryptocurrencies are open source projects they have chat discussion rooms that are open to everyone. And this is key because only in crypto can you directly contact with lead developers and teams of various projects (the equivalent of CEO and management teams in normal companies), like good luck, asking Coca-cola CEO anything.
How To Create A Trading Plan
The difference between an unsuccessful gambler and a professional trader is having a plan. While the gambler chases dopamine excitement, professional traders are focused on wealth building and treating trading as a business. Just like you wouldn’t give money to a stranger for no reason, you shouldn’t throw money at the market and expect something back without a proper business plan.
So what is a trading plan?
A trading plan is a set of rules that outline the decision making for your trading activity. It helps define what, when and how much to trade.
A trading plan should always be your own personal creation because each and every person shares different sets of values, and your values play a key role in defining your trading plan.
The trading plan can also include anything a trader finds useful such as what is your motivation for trading, financial goals, how much you are willing to commit time, attitudes towards risk, available capital, risk management rules, strategies, and a trading diary for keeping records.
Creating a simple three-step process trading plan:
- 1. Recognize patterns
- The basics for successful trading are to recognize patterns from previous price moments and then use that information to predict future movements. It is important to read charts and define your entries well, because, you wouldn’t wanna buy at the high where markets are obviously overbought and ready for a slide down. Some patterns emerge more frequently then others and trades have given their own names for many, such as support and resistance.
- 2. Set & forget
- Probably the most important part of any trading plan is risk management. This is when after successfully recognized pattern we enter a position and define beforehand our places for taking profits and setting stop losses, to reduce risk, and to keep our gains.
- 3. Don’t stop learning
- It’s always good to test new trading theories & strategies, and one of the best ways to do this is to use paper trading. This means to use fake money on real markets, most trading platforms have this feature included.
The Bottom Line
Note that even if you are highly successful with paper trading, this does not guarantee that you will face the same success when you begin trading with real money. That’s because when you put real money on the line, your emotions will come into play.
Another important thing to consider is that trading is a marathon, and not get rich fast scheme, it’s a game played by probabilities, and that there is no such thing as winning without losing. By letting your profits ride and cutting losses short, you might lose some battles but will also ensure that you will win the war.
Summing It Up
Bitcoin and other cryptocurrencies can offer incredible once in lifetime money-making opportunities. However, for most people, without the proper tools and knowledge, learning how to trade cryptocurrencies can be really dangerous. Knowing that you are still early in this game, provided with a piece of right knowledge we are sure, you are able to take advantage of your crypto trading going forward. Though you still need to keep eye on those scams, pumps & dumps and whatever else crazy things this crypto wild west has to offer. 🙂
And don’t forget: Never invest what you can’t afford to lose!
Related Articles & Notes
Here is a variety of information regarding cryptocurrency trading and things related to it.
- Crypto Price Charts
- Throughout the article, we refer to cryptocurrency technical examples with TradingView price charts. This is because its the world’s leading charting platform and social community for traders. Tradingview’s success also relates to Bitcoin because they’ve got famous through cryptocurrencies, and it is absolutely free to use.
- To learn more read our guide on the best crypto price charts.
- Buy Gold With Bitcoin
- Trade your Bitcoin for Gold and other metals using BullionStar or MoneyMetals.
- This might come very handy at the top of the market cycle when you want to take your Bitcoin profits and have protection from inflation or boost your returns during weaker fiat time periods. Check out how to buy gold with Bitcoin guide if you think this is something you are interested in.
- Best Crypto Trading Apps
- Monitoring your trading positions can be a huge task in itself, and especially when you are on the go, with the 24/7 nature of the cryptocurrency markets, it quickly becomes obvious that everyone needs a cryptocurrency trading app on smartphones.
- Portfolio Tracking & Taxes
- Unfortunately, governments still demand you to pay taxes for everything that is profitable including Bitcoin trading. These services let you track your portfolio, and make filing taxes easier. Simply import all your trades from the exchanges and automatically convert the prices. Our favorite portfolio software is CoinTracking, however, you can also check the full list of our portfolio tracking services here.
- Bitcoin VPN Service Providers
- With a proper VPN provider, you are not restricted by geo-location, it also gives you more privacy and protection against hackers. VPN can give you access to browse the internet without borders. For example, Bitmex & Deribit are both restricted for US customers, however, with VPN, anyone can bypass this.
- Automated Bitcoin Trading Bots
- The human mind can only recognize and follow several trading pairs at any given time. An automated Bitcoin trading bot can follow simultaneously all of the altcoin pairs if you so choose. Trading bots don’t sleep and they cannot be bothered with emotions. Trading bots can be programmed without the need to know to code and they can execute trades actively any time you wish. Most bots can be set up to use different indicators and strategies, however, our favorites are the ones that can perform dollar-cost averaging, such is for example 3Commas. Alternatively, check the full list of automated trading bots or read our article to learn more.
- P2P Lending / Savings Accounts
- P2P crypto lending & Savings Accounts are yet another great way to exponentially grow your cryptocurrency trading profit. These services let you create business loans with significant passive income potential for your long term Bitcoin holdings.
- To learn more read: how to earn interest on your bitcoin.