Trading cryptocurrency is becoming more and more popular. “BitCoin” is only the most well known cryptocurrency, but there are actually hundreds of different types of cryptocurrencies. Some have even been created with the sole purpose of being a day trading asset.
Day trading cryptocurrency can be an extremely profitable venture for people who put in the work and implement the best practices. However, not everyone can (or wants to) put in days or weeks worth of research into their trades. Not to mention that there is a significant monetary investment required to begin “day trading”. What if I told you that you could trade cryptocurrency with only $5?
I want to preface this by saying that you shouldn’t expect to get rich quick by trading cryptocurrency with only $5. This strategy will require a lot more effort and dedication then your average day trade, so if you’re looking for something easy or are expecting huge returns, then this isn’t the article for you.
When people think about trading cryptocurrency, they are usually thinking about trading for the main cryptocurrencies (bitcoin, ethereum, and litecoin) on major exchanges. However, did you know that you can trade crypto with little to no initial investment? I personally trade on a few different exchanges and today I’d like to share some of my experience with you.
First of all, let me clear up some common misconceptions:
– You do not need to have a large amount of capital to start trading crypto
– You do not need to be a day trader to trade crypto
– You do not need to trade cryptocurrency with leverage
Your Crypto Trading Journey
Now that we’ve cleared those up, let’s start your journey into trading crypto!
For this example, let’s say you want to get into trading but you don’t have a lot of money – maybe $5 or so. You could buy something like 0.0001 bitcoin (1/10th of 1 satoshi), but it may be difficult for you to manage such small amounts of bitcoin. For this reason, it is probably easier for you to use an exchange that allows you to purchase coins directly with USD.
Coinbase and Gemini are two examples of exchanges where you can purchase Bitcoin and
Did you know that you can trade cryptocurrency, even with as little as $5 investment?
1. Sign up for a free coinbase account.
2. Verify your account by providing ID and phone number
3. Buy cryptocurrency (I’ll use Bitcoin as an example) with a credit or debit card after linking your bank account.
4. Purchase any altcoin you would like to trade in. You can buy any amount of altcoin, but I would recommend at least 1 unit of the altcoin you plan on purchasing or trading, just to make sure you’re able to purchase it successfully. If successful, proceed to step 5. If not, try another altcoin.
5. If you’re purchasing a popular altcoin such as Ethereum, LiteCoin, etc., then go ahead and purchase it with the Bitcoin stored in your Coinbase wallet.
6. Once the transaction is complete, store your coins in a safe place by moving them off Coinbase into another exchange wallet (e.g Binance). This is done because Coinbase has had some security issues in the past and I don’t personally trust them with my money! To move the coins, copy and paste the public address of your destination wallet into the Withdrawal section
You’ve heard about the many people who are making a killing trading cryptocurrency. The stories of the people who got in early, invested little and are now millionaires are the reason why so many people are jumping on the crypto train. However, if you don’t have thousands of dollars to invest in cryptocurrency, that doesn’t mean you can’t make money with crypto.
In this article I’ll cover some ways you can trade cryptocurrency with little to no investment. Keep in mind that while these methods may help you turn a profit, they won’t make you rich overnight.
It is also important to note that these methods will not guarantee profits – and nothing ever will. There is always risk involved when it comes to investing, so only invest what you’re willing to lose.
When it comes to trading cryptocurrency, you want to make sure you have all the information you need. One of the most important aspects of trading is making sure that you have the ability to trade with a small amount of money. This will allow you to get your feet wet and make sure that your trading style is ready for live trading.
One of the ways that you can start trading with a small amount of money is through a demo account. A demo account will give you the opportunity to trade without actually risking any of your own money. You can then see if your strategies work before putting any real money on the line.
You can also look into an automated system for your trades. This will help you get started and get used to the way that the auto trader works without having to spend a lot of money up front. Some traders choose to use a demo account while others decide to use an automated system that they download onto their computer.
When it comes to starting out with crypto currency, there are many ways that you can invest in it without having to invest a lot of money up front. The key is finding a method that works well for you and sticking with it until it pays off in dividends.
3 Simple Steps:
1) Create an account with coinbase, this is the tool I use to trade cryptocurrency as it connects my bank account and credit card so i can buy bitcoin and then convert it to any other cryptocurrency on the market.
2) Buy Bitcoin, Ethereum or Litecoin directly from coinbase.com or through the mobile app. It’s like buying something online except you will get it in digital form, not physical. You can exchange your USD into ETH or BTC right here and right now!
3) Converting your BTC to various other coins can be done at https://www.binance.com/?ref=10140276
Remember, start small, learn from your mistakes and have fun!