Are you interested in cryptocurrency trading but not sure where to start? Before you start trading and investing your money, knowing how this market works and the trading techniques and brokers to use is important. This is why in this article, you will discover how to do crypto trading, how to become a crypto trader, the best crypto trading platform, and tips to follow to succeed.

Trading bitcoin and cryptocurrencies are not as difficult as you might think. If you have the right crypto trading site or automated trading software and follow a few simple steps, it is very easy to do.

To trade crypto, you have to go through a cryptocurrency trading platform. For those with less experience, there is also an auto-trading option. One of the most prominent bots for trading crypto is BitBotApp. Here is basically how to proceed.

Manual trading vs. using an automated trading platform

If you are hesitating between manual vs. automated trading, here is the thing. As its name suggests, automated trading doesn’t require much intervention. As a trader, your role is to enter basic parameters, and the bot will search for the best opportunities and decide on your behalf. It’s suitable for beginner and seasoned traders who want to spare their time in front of the computer screen. Manual trading requires more attention from the trade. It involves your decision-making and a lot of tech analysis of the market. Therefore it’s more suitable for professionals on the market.

Choose a crypto trading site or automated crypto software such as BitBotApp.

• Register with your auto trading app or online broker
• Funding your account to trade crypto
• Choose your cryptocurrency
• Specify your Stop Loss, Leverage, and Take Profit and open a trading position.

If you are trading with the automated software, the bot will start trading on your behalf once you enter the needed parameters. Finding a reliable and reputable trading bot or brokerage platform is your first step once you decide to venture into crypto trading.

CFD Trading on Crypto-Currencies vs. Direct Buying: Which is the Best Choice?

If you want to trade CFDs using leverage via CFDs (“Contract For Difference”), this will allow you to multiply the amount of your cryptocurrency exposure compared to your starting capital.

With this leverage, you have more capital at your disposal for trading. So you can make a bigger profit, but it also comes with higher risks because gains and losses are calculated based on the total amount of your position and not on the amount deposited into your account initially. CFDs are, therefore, more suitable for those with a smaller initial capital.

However, we recommend that you only trade leveraged CFDs if you take good care to quickly limit any losses by using what specialists call “Stop Loss” levels, where your position will automatically be cut because you can potentially lose more than your starting capital with leverage.

Whatever methode you finally opt for, we suggest making your first steps by using a demo account. That way, you can explore the trading platform and the market conditions in order to see if it matches your expectations and needs.