Category: Cryptocurrencies Traders Secrets

Cryptocurrencies Traders Secrets aims to give visitors a deeper insight into cryptocurrency trading news. A few words about cryptocurrency or crypto.
Cryptocurrency is a web-based medium of exchange that uses cryptographical functions to handle financial transactions. Cryptocurrencies use blockchain technology to realize decentralization, immutability, and transparency.
The essential feature of cryptocurrencies is that they are not controlled by any central authority. It has decentralized nature due to blockchain that makes them theoretically resistant to the traditional ways of government control.
Cryptocurrency markets are decentralized, also.

That means they are not backed by a central authority. Instead, they use a network of computers. Anyone can buy or sell them via exchanges and store in ‘wallets’.
The purpose of cryptocurrency trading news is to reveal all benefits of using cryptos to our visitors. But also its drawbacks. In numerous posts, our team is giving an explanation on how to use it, how not to use, what are the advantages as well as disadvantages. We warn how crypto can be used for illegal matters and how some “dark people” misuse it.

But Traders-Paradise’s main goal is to show to our readers how to trade cryptocurrencies like any other asset. Also, how to invest in them. We explain all strategies related to trading and investing, how to use them, what strategy to use, and when to do that, what are the best techniques and methods to trade and invest in cryptos.

Cryptocurrencies Traders Secrets is part of the website Traders-Paradise where you, our readers, can find all updated cryptocurrency trading news.

How to Start Trade Crypto?
Should you buy or trade crypto? Before you make a decision it is important to consider the differences between these two strategies in detail.

By Guy Avtalyon

Trade crypto – do you know how to do that? No? Don’t worry.

Read this article to the end. I want you to learn everything I know about trading crypto.

And it is a handful.

In the following articles, I will teach you, I’ll hold your hand until you feel you’re becoming a professional trader.

Here you will find lessons and instructions on how to trade with CFD, options, and cryptocurrencies.

In fact, in the past few weeks, I have received a lot of invitations from friends and acquaintances about how to trade crypto, and I decided to write these brief instructions in which I will explain in the simple way the possibilities to become engaged in crypto trade.

You can also see our FULL article on how to trade in cryptos (Updated Oct 15, 2018)

For the past year, cryptocurrencies have gained popularity, especially after the fact that people who bought Bitcoin 7 or 8 years ago, for several hundred dollars, today are millionaires. It’s hard for you to become millionaires if you start trading today, but it can still be very well profitable.

And maybe you want to buy a crypto and have it as a kind of savings account.

So, let’s start!

What to trade crypto?

First of all, you have to know that all successful traders were once the beginners who studied trading from the very basics while they gained experience over time. I am not going to explain the background of the cryptocurrency and how it works, because it is not relevant to trading for the average user. Most importantly, you have to know that the most popular currencies are: Bitcoin, Ethereum, and Litecoin, so I recommend that you initially focus only on them. There are currently hundreds of currencies worth $ 0.00001 per unit and they hope that one day they will become the new Bitcoin. There is always room for earnings with the three “main” currencies because they are very volatile. For example, the Bitcoin prices are often changing for over a few hundred dollars any day. The trading principle is the same as for any store – buy low, sell high.

Given that the cryptocurrencies are volatile (Bitcoin, in particular), there is always room for profit.

At first, you need to open an account and a wallet to buy or sell cryptocurrency. There are hundreds of different platforms for it. The registration process is actually very simple. Fill in your personal information and in the end, you will need to scan your ID card or passport through a webcam or mobile phone (if you register with a mobile application). This process sometimes should be repeated several times (I scanned it 3 times) because it may happen that the application can not read data (for example, if you do not hold the document steady in your hand). Once you have done this, you will receive a text message with the code that you will use for the first login on your mobile phone. After you are logged in, you will be presented with a dashboard. Here’s where you signup to Coinbase.

How to trade crypto?
1. Instant purchase via debit/credit card
2. Through a bank transfer of money from your bank account to your trade account.
What to do afterward, I will explain to you specifically on the case of registration on the largest CoinBase Platform.

If you are buying with the card, the process is quick, but the fee is 3.99% higher (card purchase fee) + 1.49% (standard Coinbase fee). If you decide to transfer via a bank, you must first send one euro/dollar to CoinBase account to confirm that it is your bank account. Then transfer the amount you want to trade with.

To transfer money to a Coinbase account usually takes 2 business days. The money will appear in your EUR/USD wallet and then you can buy crypto. All details for bank transfer payment will be found under Setting -> Payment Methods -> Add payment method.

Decide by yourself which method suits you better. If you don’t want to buy crypto right away, you may have better options. When you are ready to purchase, you have Buy/Sell on the toolbar.

Well, you’ll need first to choose which currency you want to buy. Then the method of payment and the amount. On the left side of the screen, you have details of the transaction. After you buy the crypto, you will receive an email confirmation that the purchase is completed.

You are now officially the owner of a cryptocurrency.

Congrats!

Trade crypto for profit

All you need now is to monitor the graph and decide when to buy or sell.
Side note: Coinbase is designed more like a wallet in which you will hold your cryptos, than as a platform for active trading (because the fees are quite high).

If you are planning to sell and buy every day you should use some other platform.

More about this on another occasion, in the continuation of teaching. One step at a time! But I want to tell you that trading crypto is based on the principle of stock trading. Let’s say this way, when you buy crypto you’re buying it in the hope the price will rise. So, you could sell it later and become a millionaire, right?
But, when trade crypto you are taking advantage of markets that are falling in price. The same comes when the markets are rising. In trading in general, this is well-known as going short.

Crypto market volatility

The cryptocurrency market volatile due to huge volumes of short-term profit and frequent trades. For example, do you remember October last year when the price of bitcoin rose to $19,378?
The volatility of crypto is an ingredient that makes the crypto market so exciting. Accelerated intraday price changes can provide a spectrum of opportunities for traders to go long and short. but pay attention, this also comes with great risk. You’ll need a risk management strategy.

I hope the instructions were helpful. Feel free to share this with someone you know to be interested in cryptos.

But remember one thing.

Trading and use of information presented here is at your own risk

You can learn also about trading currencies here
24th June 2018
What With Bitcoin After DEATH

1 min read

Bitcoin after death! A bizarre topic, I know, I know, but shit can happen. Yeah? And no, of course, I don’t mean “death” of bitcoin, but miners and owners. I would like to ask you something.

If something is virtual, can it be inherited after someone’s death? You know, it isn’t lol, that is a serious question.

And unfortunately, it’s already happened.

Bitcoin after death

It happened to the family of a young man who died in his early 30th’s.

A family of young men, Matthew Moody from California found themselves facing this problem. Namely, Matthew was one of the early miners of the cryptocurrency, or rather bitcoin. Then, when mining didn’t need special equipment, a dozen graphics cards and their own power plant in the basement. Time of crypto – pioneers.

But Matthew died five years ago, and he also left behind the bitcoins. Nobody pays attention to it but as the value of bitcoins grew, his family wanted to take over them. And then there was a problem in front of them. There was no lawyer who can give them advice or help because inheriting bitcoins was a totally new area.

Cryptocurrencies were an unknown area.

The question is can the bitcoins be inherited?

Matthew’s father tried to determine how much bitcoin left his son behind, but without the key to accessing a virtual wallet, it seemed like a mission impossible. The problem is that there is no rule to regulate what is happening with bitcoin (or any other virtual currency) after the death of the owner.

Unlike them, the classic money deposited in the bank can be reached even after the death of the owner if you prove that you are a heir.

In the case of bitcoin, there is no centralized body (which is the main advantage at the same time) that would solve such problems, and even the classic legal bodies actually do not know what and how to solve this problem.

The issue on legislation -What With Bitcoin After the death

This will be one of the issues that legislators will have to deal with if they want to regulate crypts and their use in the future. Desiring that such bitcoins do not end up on garbage, stock exchanges dealing with the trade of cryptocurrencies are considering introducing the security mechanisms. They would be activated after the death of account owners, which would simultaneously allow the heirs to reach those cryptos.

Some of the biggest brokers like CoinBase (and they are maybe unique), have established a kind of custodial service that keeps the user’s private keys. The same ones without which it is impossible to access the user account or wallet.

If something happens to the owner, those asks the successor for proof of death and inheritance in order to transfer funds to his heirs.

But users are those who will ultimately have to take into account and include the inheritance of cryptos into their wills. Or at least notify family members that they own crypto and where it is stored.

The point is, do not forget your cryptos and leave them out of your will. I mean, it’s smart to do this if you love your family.

Including with the key, of course.

You would like to read HOW TO MONETIZE BITCOIN

24th June 2018
Cryptocurrencies a Powerful Tool Against Hyperinflation?

2 min read

Cryptocurrencies are a powerful tool against hyperinflation

Cryptocurrencies can be a powerful tool in protecting your funds against hyperinflation. There are pros and cons at the same time. In an interview on The Late Show with Stephen Colbert, Reddit co-founder Alexis Ohanian said yes. He believes cryptocurrencies can be an effective tool in protecting your funds against hyperinflation. The reason he prefers cryptocurrency over regular fiat currency lays, in fact, that ”Cryptocurrencies are fuel for a potentially new internet”, as he said.

Reddit co-founder Alexis Ohanian

Ohanian told: “Things like Bitcoin and cryptocurrency are an opportunity for us to have a store of value that is not backed by a single country.” Further, he told that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention – especially in countries dealing with unstable political and economic predicaments.

“We sort of take it for granted the fact that we all have bank accounts, and we move money here and there, but for so many people in the world to have actually this security of knowing that what is yours is yours, because it is now digital, could be transferred with you wherever you are going, is actually pretty empowering,” said Alexis Ohanian.

Ohanian’s viewpoint is that Bitcoin can still offer more stability than the fiat currencies of countries struggling with hyperinflation in spite of the highly volatile nature of cryptocurrencies. He recently made headlines with his predictions about the price of Ethereum and Bitcoin. A few weeks ago, the Reddit co-founder made a prediction that the prices of BTC and ETH (respectively) will reach $20,000 and $1,500 by the end of the year.

Many are willing to say that this is an extravagant or pretty baseless prediction.

But do you remember the end of last year?

And Ohanian is not the only Silicon Valley entrepreneur who is bullishly optimistic on cryptocurrencies. Twitter co-founder Jack Dorsey has also previously expressed believes that Bitcoin will be the world’s primary currency by 2028.

The idea of utilizing cryptocurrencies to fight hyperinflation has been explored in multiple countries.

Such experience has in Zimbabwe, Venezuela, and Argentina.

Many people turn to cryptocurrencies during hyperinflation in wish to save themselves from losing their money. This sometimes temporarily drives up the local buy price of the cryptocurrencies.

We will see.

For now, the fact is that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention. Especially in countries dealing with unstable political and economic predicaments.

Contrary to this Bank of America CTO said that Bitcoin wasn’t ”transparent in the financial moment of money.”

That is totally strange because the definition of blockchain is – a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly – so they have to realize that Bitcoin is much more transparent than the current banking system.

Many world big companies such as JP Morgan, Goldman Sachs, Bloomberg, New York Stock Exchange or NASDAQ jumped into crypto.

Is the Bitcoin solution for protecting of hyperinflation?

As you can see some experts say YES, some NO.

On an example of Venezuela, we may try to find the answer. Venezuela created its own cryptocurrency in order to try to get out of the crisis and they named it – petro. But, it is not like other cryptocurrencies.

The name Petro is a kind of program of that currency: the value of each petroleum will be covered by the crude oil barrel. In addition, as President Nicolas Maduro has announced, as currency insurance other raw materials are used. The “petro” came in response to the Venezuelan authorities’ financial blockade and sanctions, and this is not about ordinary blockchain, but its value is based on state reserves of oil, gold, gas, and diamonds.

Cryptocurrencies against Hyperinflation

Two months later, Venezuela offered to sell its crypto, and currently, about 82 million tokens are available, which the government could sell next months. The plan for the sale of the ”petro” currencies is on the website, which was created specifically for this occasion, and the price of one unit depends on the price of one barrel of Venezuelan oil.

President Maduro’s plan to deal with the economic crisis continues, and it is still expected that Petro will affect the economy of Venezuela, and becomes an alternative to the physical currency.

OK, Venezuela seems to have broken a common financial law: in the world’s oil trade, the price is always calculated in dollars. But that is the other view of problem.

Will it is helpful to Venezuela or not we will see. Intention to create their own cryptocurrency has some other countries faced with hyperinflation such as Zimbabwe and Argentina were. On the example of Venezuela, others will make decisions. The point is: can cryptocurrencies be instrument or way to beat hyperinflation?
Alexis Ohanian and many other experts said yes.

If you want to know more about the best stocks to invest during the inflation you SHOULD READ THIS

24th June 2018
Most Common Mistakes Made By Beginners In Trading Cryptos

1 min read

Most common mistakes made by beginners in trading cryptos can lead you to a total disaster.

We would like you to avoid them, so read this post very carefully and with due diligence.

More and more people are beginning to show interest in trading cryptos. Although this is a positive development, there are some pitfalls to be watched by traders/novices. These common mistakes are quite serious and can relieve you of several thousand dollars in value of cryptos if you are not careful.

Do not use suspicious exchangers

One of the most common mistakes made by beginners in trading cryptos is every exchange is the same. Not every crypto exchange is designed to be used for all altcoins. Using a wrong currency exchange can lead to a refusal or omission of withdrawal or the trading market becomes inaccessible at the wrong time.

Always do your own research before you entrust your money to an unknown company because it can be difficult – if not impossible – to get it out again when things go wrong.

Buying a scam is one of the most common mistakes made by beginners in trading cryptos

The world of alternative cryptos is filled with many possibilities, however, it’s not all that it seems to be. Unfortunately, for novice traders, it is difficult to distinguish valuable and useless trading. You need to avoid any new coins until they show up well on the market.

Investors want to buy potentially profitable coins as soon and cheaper as possible. Entering at a later stage will reduce the chances of gaining huge profits.

There is a very nice point of balance between buying coins cheaper and investing in pump-and-dump (scum and drop) scams at the wrong time. Most retailer novices will experience another option even before they make their first big profit.

Decisions made in panic

Panic can be one of the worst motors for real trading. Markets are very volatile in the altcoin scene. There is nothing wrong with sometimes feeling the weight in your stomach, but panic should never determine how and when to trade. Many new traders allow their actions to be driven by panic and fear.

Compulsive trade one of the most common mistakes made by beginners in trading cryptos

It is strange that in a market where you can earn and lose in just a few seconds, there is also such a thing as “compulsive trading”, don’t you think? But it exists.

Too often trading during the day can be a major problem for beginners traders. They will make the wrong decisions and allow the panic to be the driver of their decisions. Market monitoring is absolutely necessary, but it doesn’t necessarily have to jump at any time when it appears. It’s hard to learn the trading style from the first day.

But here is a guide for beginners that may help you
Errors will have to occur until you find a rhythm that suits your needs.

Fingers to too many places at once

Given the vast array of different types of altcoins that can be bought and traded through popular exchangers, diversification is a good idea.

The best advice is to start with small amounts of one or two coins that look legitimate and potentially profitable. As you gain more and more experience, it is still possible to further diversify your portfolio and trade more crypto.

This should help you to avoid the most common mistakes made by beginners in trading cryptos.

And you know the main rule? Invest only as much as you can lose.

Also, maybe you would like to read more about what to do while trading crypto and avoid the most common mistakes made by beginners in trading cryptos. We suggest you THIS

If you find that someone is interested to read this feel free to share.

23rd June 2018
Small Crypto Dictionary – The Words You Never Heard

How did I decide to write this crypto dictionary?

By Guy Avtalyon

The Small Crypto dictionary is a necessity and you will see why.

It was like this.

One day I decided I would become a cryptocurrency trader. Well, it was more of my wish than a decision, actually.

“How do I start trading crypto? Is there a dictionary??” – And didn’t find one…

Anyway, my first thought was that it is necessary to know the terminology in order to communicate and understand what other people talk about.

Therefore I joined a trading chat room.

Frankly, I joined a lot of trading chat rooms. I wandered from one to the other trying to understand what these people are telling at all. I was not able to understand any of their conversations. The people inside were using jargons and terminologies that I had not ever heard in my life.

And it is completely true! If you are new to Bitcoin and the cryptocurrencies, you may not know what any of these words mean.

You recognize this situation, do you?

The misspellings are not as you might think

You must have noticed people misspelling “HOLD” as “HODL” even when they have an auto-correct feature on their phones or computers. Have you?

This was my first unknown word. Like I heard for the first time in my life word NUKELAR instead of NUCLEAR.

OK, I was laughing then, but crypto is a serious field. Hence, I took it as a serious field.

The point is that in these crypto communities, offline or online, a new breed of lingo has developed. If you don’t know these jargons, you might feel left out and more than a bit puzzled.

Honestly, I was.

That’s why I want to get to know you with these new words and clarify their meaning.

HODL (wtf)

I read the sentence “I AM HODLING” on some forum.

Well, what happened to this man, I don’t know. Maybe he was angry that the price of Bitcoin had fallen, I do not know. Maybe he was drunk too. But since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world.

Basically, “HODL” was originally a typo which has now popularly earned the status of a humorous backronym:

“HODL” – “Hold on for dear life”

When someone says that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, even if is not today.

And you’ve probably seen some other jargon that you don’t know the meaning.

Small crypto dictionary for some common crypto-terms:

* FOMO – Fear of missing out. Wiki definition is – A pervasive apprehension that others might be having rewarding experiences from which one is absent.
* BEAR – This means a trader/investor who believes the prices of a particular cryptocurrency or market will fall and wants to profit from that fall.
* ATH – All time high. This means that the price of a certain cryptocurrency or coin has broken all of its past records and is trading at the highest price it has ever achieved.
* WHALE – Term borrowed from gamblers. It means a trader with a fat account, one who thinks the market will rise on the price of any specific cryptocurrency. These people are also referred to as bullish whales.

* BEARWHALE – Trader with a fat account who is bearish on the price of a cryptocurrency.
* BAGHODLER – Investor or a trader who has been holding (or hodling) for too long on a particular cryptocurrency and now has to face the consequences of that decision.
* REKT – Misspelling of “wrecked”. This means a trader or investor who is completely ruined and destroyed with losses from the current downfall of a price.
* TO THE MOON – The price of some coin will one day go to the moon!
* ADDY – Cryptocurrency public address (or key). For example: “Tell me your ADDY.”
* FUD – Fear, uncertainty, and doubt.
* CHOYNA – A intentionally distorted way of referring to China.
* SHITCOIN – A coin with no potential value
* SHORT – Margin bear position
* LONG – Margin bull position

Strange terms in the crypto dictionary

* SWING – Zig-zag price movement (ups and downs)
* REVERSE INDICATOR – someone who never nail price movements, always wrong predictions
* PUMP – Upward price movement
* DUMPING – Downward price movement
* OTC – Over the counter
* DUMP – To sell off a coin
* BTFD – Buy The Fucking Dip (meaning buy a coin when it has dumped so hard)
* ASHDRAKED – A situation where someone lost all money
* DILDO – Long green or red candles on graphics
* ALTCOIN – Any cryptocurrency which is not Bitcoin

These are some of the jargon I’ve found on forums and chat rooms. Also, it was pretty funny when I saw new jargon on the internet and I had a lot of fun to find out the meaning of those words. That’s why I wrote this crypto dictionary.

For more check Trading dictionary

Well, if you find some new, let me know. OK?

23rd June 2018