Cryptocurrency Trading Strategies. How to Choose the Right One
Cryptocurrency trading is one of the most popular ways to earn money in this industry. But it is a tricky thing and if you don’t know how to do it right, you risk losing a lot of money. Before you start trading cryptocurrency, you should set your trading strategy.
The trading strategies can be classified according to how long you plan to hold this or that coin in your cryptocurrency portfolio. Every strategy has its advantages and disadvantages. Choose the strategy that best suits your lifestyle.
- Long-term holder: Simply buy cryptocurrencies and hold (or HODL!) them for a year or more until their price increases. This is the best option for those who don’t like charts and graphs or simply don’t have the time to track the price fluctuations of cryptocurrencies. All you have to do is research and select a cryptocurrency that you believe in.
- Medium-term investor: With this strategy, you still need to spend some time researching and updating your portfolio about once a month.
- Short-term trader: This strategy comes with the highest level of risk. Although it may bring you a lot of money in a short time, it is not suitable for beginners. It requires the ability to understand charts well to determine the best “in and out time.” If you choose this type of trade, you should devote all your time to it.
Regardless of your chosen option Pointpay has all necessary products you will need for successful trading. If you decide to HODL then you can use our secure PointPay Crypto Wallet. If you want to trade PointPay Crypto Exchange has all the advanced option you need for successful trading.
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