With the impact of the recent international events, what has been continuously staged on leading stock platforms is the notable “stock market crash’’. It is believed that there may be a small bubble behind an upcoming boom.
The stock market has been gloomy, which has made several investors turn to the next best alternative in terms of currency, and that is Bitcoin. Nevertheless, several traders also excitedly followed the mob but soon exited with regret. This is mainly because the crypto market is yet to be understood and analyzed from an expert viewpoint.
Today, a 20-year-old trader has shared his ideas on earning profits, so let’s have a look at it –
Necessary to Familiarize yourself with the Crypto Market & its Environment
Most of us often resort to expert advice or enter a market with only half an understanding of different concepts and terms related to the cryptocurrency market. The outcome naturally does not yield good numbers. Regardless of the industry a trader trades in, it becomes mandatory to systematically understand and learn the basics and acquire ground-level knowledge of the market when he decides to enter the crypto market. The same idea applies to the cryptocurrency market. Note that the crypto market is precisely the same as the general market environment. A person, an expert, is a complete understanding of the crypto market and the global changes that may impact the market. Full knowledge makes an investor understand when to enter or close a position.
Emotional Trading Should Be Avoided
Newcomers often invest and trade positions exceeding their limits, hoping that they will make excess profits. As soon as the market fluctuates, these novices are instantly driven out of the market. Emotional trading is quite common among beginners, but if one ignores his situation by becoming blind, he will eventually be at a loss.
Set a Stop-Loss & Take-Profit
In highly volatile markets, every gainer wants to earn the maximum profit while the losers try to avoid losses by earning the profits back. Setting stop-loss and taking profit, all kinds of traders can potentially maximize their gains. Traders must note that it is easy to open another trading order when there is a position.
Choose Traders that Match Your Trading Strategies
Many new traders enter the crypto market only after learning the common market terminologies and go short or long optionally. What happens, in the end, is that they land up getting disappointing outcomes. For such beginners, the copy trading feature is commonly offered by several crypto platforms available in the industry. The name indicates that copy trading implies following a veteran’s trade orders and copying them. One of the most professional crypto trading platforms, Bexplus, provides this copy trading feature with high leverage. This unique feature offers every new investor a chance to act and be a veteran.
Copy-trading allows beginners to copy trade and investment orders of experienced traders and also allows them to customize the ratio of their order copy, set stop loss and take profit and terminate all copied orders at any point in time. The veterans can also enjoy certain benefits derived from their followers.
Fully Simulate & Experiment with a Crypto Platform
Bexplus, a leading crypto exchange platform, has introduced a demo account that offers 10 Bitcoins to all its investors to help them grasp the patterns and laws relating to market fluctuations. With the demo account, they can learn about floating profit or loss in their account, set their investment ratio, get familiar with leverage trading, learn about market laws in the most practical way and explore the ways of making more money.
About Bexplus
Bexplus is a reputable and reliable crypto futures trading platform that is accredited by U.S. FinCEN MSB (Money Services Business). It offers leveraged futures trading on various currency pairs, including BTC, ADA, ETH, XRP, and DOGE. Traders Kyan trade at Bexplus without any KYC requirement, and it is a popular futures trading exchange having 1 million users from around the world. It is popularly known for providing trading features mentioned below:
100x Leverage: Fastest Way of Maximizing Profits
Bexplus crypto exchange offers 100x leverage that allows traders to open 100 trade positions with margins of 1. In other words, the 100x leverage featured by Bexplus allows profits to exceed 100x made by original investments. Let us assume that a trader uses 1 Bitcoin to open a contract when BTC trades at $42,000. A day later, the BTC value drops to $38,000. Therefore, the profit is equal to ($42,000 – $38,000) x 100 BTC / $38,000 x 100% = 10.5 BTC, ROI 1050%.
100% Deposit Bonus: Deposit 1 BTC and get 2 BTC
Apart from the unique 100x leverage, the crypto exchange also offers a 100% deposit bonus that helps the low-stake traders and investors to earn higher profits in the shortest time. If an investor tops up his trading account with 1 BTC, they will receive 2 BTC as a deposit bonus on his account, and they can use the bonus to trade and make greater profits. However, note that the bonus amount is not withdrawable, but the bonus’s profit is. The investors can enjoy a maximum of 10 Bitcoin bonuses.
Bitcoin Wallet: 21% Interest Annually
Suppose an investor is confused about whether to go short or long in an ever-changing crypto market. In that case, the Bexplus crypto exchange offers a secure way of earning additional money via a Bitcoin wallet. The wallet offers a 21% interest annually, which is relatively high compared to the industry average.
Last but not least, accessing the Bexplus exchange from mobile devices is an easy process. The browser version and a dedicated mobile app work perfectly on both iOS and Android mobile phones and tablets. New traders can browse the app features from App Store or Play Store, download it and use the platform to make instant trades on the go.
Regardless of the experience level of the trader, the crypto exchange is user-friendly to both novices and veterans. The mobile support at Bexplus allows users to enjoy their trading and investment activities. Click here to register at Bexplus and get a whopping 100% bonus.
Source: https://www.cryptonewsz.com/20-year-trader-shares-thoughts-on-earning-hefty-crypto-profits/