I’m sure this has been asked about a million times but what’s the best platform for a beginner to start buying and selling crypto? Not looking to trade alt coins or anything. Would also appreciate info on minimum deposits, fees, etc. As I am not really looking to make a living out of this but just want to have some fun with crypto and maybe make a little bit of extra money.

Is Crypto Trading Legal?

Scalpers determine entry points for positions without the use of technical or fundamental analysis, but based on the market depth, benefitting from the non-stop activity of the markets. HFT encompasses computer science, complex market concepts and mathematics and is not suitable for individual beginner investors. In range trading, traders focus on using technical analysis to identify support and resistance levels for a cryptocurrency price as the price trend is likely to remain within that range for a period of time. High-frequency trading (HFT) is an advanced trading strategy that uses algorithms and bots to automatically enter and exit trades.

Note that cryptocurrencies are highly volatile. How does cryptocurrency work? A cryptocurrency is a digital coin running on a blockchain network that uses cryptography to secure transactions, control supply and corroborate transfers. Blockchains are digital databases that store cryptocurrency transactions in blocks requiring complex mathematical calculations to record and verify. The more complex a trade is, the more risk is involved. Cryptocurrency coins and tokens are stored in exchanges or electronic wallets, which are highly secure as they use a unique public-private key pairing to verify the owner of the currency. Their price can quickly move against your position, triggering losses.

Traders build a cryptocurrency trading strategy based on research, which may include setting stop-loss and take-profit orders, restricting the size of trades and having a balance of assets, like traders do with stocks, commodities, indices, and forex. Day trading presupposes entering and exiting positions during a single day to speculate on an asset’s intraday price movements. One of the most popular active trading crypto strategies, day trading involves constant position monitoring. Although there is no best crypto to trade, speculating on the cryptocurrency markets with a solid trading strategy may help you decide which one fits your trading objectives and limit your risk.