Tuesday, June 28, 2022

How To Use Crypto Pro

Find The Best Blockchain Explorer For Any Coin You Want

How to Swing Trade Crypto like a PRO using Secret Indicators…

Every coin has its own block explorer. To find a coins block explorer, I recommend going to Coinmarketcap.com, searching for a coin, and then clicking on Explorer to the left. Alternatively, if a coin is not listed on Coinmarketcap, then you should be able to find its block explorer directly from their website, or by Googling Coin name + block explorer. Beware of deceiving websites, though.

Stop And Stop Limit Sells

A Stop Sell order allows you to determine the lowest price at which you wish to sell an asset to prevent loss of value. You can think of Stop orders as a combination of the Limit and Market orders explained earlier. Imagine you own 5 LTC and the current market price quote is $80. You dont wish to sell but you would like to limit your downside loss of value if the market price declines. You cannot monitor your account 24/7. You cannot enter a standard Limit Sell order below current price because it would execute immediately. This is where Stop orders come into play. You could enter a Stop Sell for 5 LTC at $70. If the price drops to or below $70, the order gets entered as a standard Market order and executes at current best bid price. Note that this could be lower or higher than $70 if market price is fluctuating.

Using A Tiered Order Structure

Id like to close with a more advanced tip on for both entering and exiting positions. As most readers know, cryptocurrency prices are often subject to fairly significant swings on a daily or weekly basis. Day traders, arbitragers, and short-term investors try to profit from those big moves by moving in and out of positions fairly quickly, often using Limit and Stop Limit orders to increase returns and decrease risks. Long-term buyers and sellers can also take advantage of these price swings by entering Limit orders using a tiered pricing structure.

In order to do this, divide the amount you wish to invest into smaller portions. If you wish to buy LTC, for example, and the current trading price is $70, consider placing multiple Limit buy orders each at slightly different prices. If you are certain you want to enter the market soon, place the price limit near the current last trade. If you want to take advantage of the sometimes large price drops that occur while you are out living in the real world, place a tier of lower prices orders in the hopes thats youll grab some at lower prices

Also Check: What To Look For In Crypto

Placing Market Orders On Cbp

Placing a Market Buy order is straightforward. To purchase the selected currency, confirm that the green Buy option is highlighted, enter the desired dollar amount of currency you wish to buy. The estimated amount of cryptocurrency you will receive displays below your entry. Once you are ready to buy, select Place Buy Order.

Be sure to enter amounts correctly, as the order will be filled nearly instantaneously. There is no cancel option once a Market order is placed. Check for extra zeros before placing the order. Figure 4 demonstrates a buy order for $1,000 worth of bitcoin at current market price in the order entry box.

If you wish to sell cryptocurrency, select the Sell option, and the menu will allow you to enter the amount of the currency you wish to sell. The amount entered must be the number of coins you wish to sell, not a dollar amount. The estimated value of the trade will display below the order entry box. Again, triple check your entry before Place Sell Order.

What Are The Best Charting Tools

Crypto Pro Alternatives and Similar Apps

TradingView

Tradingview is a huge company which offers live trading charts for both crypto and stocks. They are one of the largest charting providers, with more technical indicators than you will ever need. They have both free and premium functionalities. All the best traders use Tradingview as their main cryptocurrency tool for charting.

Cryptowat.ch

Cryptowat.ch is owned by Kraken, a major exchange. It is completely free and allows you to not only chart across various coins but also visualize 10+ charts in one view. I highly recommend checking it out, you have nothing to lose with those free cryptocurrency charts!

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Using Limit Order Advanced Options

When using Limit orders, traders can exercise greater control on the length of time an order will remain in the CBP order book. These options are found in the Advanced drop down menu. Open the Advanced tab and select Good Until Canceled to ensure that your order is placed with this option You can also set a specific time period for which the order remains open. If you select the Good Until Time option, a menu appears allowing you to select one minute, one hour or one day.

The other two options are a little less straightforward. The Immediate or Cancel option forces the order to fill immediately. The order will execute at the price you specify, or it will be canceled and removed from the system immediately. If only a portion of the order can be filled when it is placed, this will result in a partial fill and the remainder will be canceled. This type of order is only useful when buying or selling at very close to market price, and typically is reserved for larger orders to increase the odds that the trader will get at least some portion of the order filled.

What Is Scalping Crypto

Scalping is a popular short-term intraday trading strategy which aims to profit from small price movements. The idea is that accumulating small but frequent profits will generate a substantial return by the end of the trading day.

In comparison to day trading, scalpers tend to focus more on technical analysis than fundamental techniques. Crypto scalpers will therefore rely heavily on candlestick chart patterns, support and resistance levels and other technical indicators, such as Bollinger Bands and Fibonacci retracements.

Whilst a range of assets can be used, many traders opt for scalping with cryptocurrencies, such as Bitcoin, due to the constant price action. Scalping in the crypto market can therefore present good opportunities if you are patient and disciplined

Below well cover how to execute scalping trading strategies in cryptocurrencies and which tools might best suit your trading style.

Also Check: Can I Day Trade Cryptocurrency On Robinhood

How To Use Binance For Basic Trades

1. Login to your Binance account. Nice and easy!

2. Click on Exchange on the taskbar and select Basic.

3. As you can see, Basic isnt very basic!

4. Choose a trading pair. Binance lists hundreds of trading pairs. These are pairs of coins that Binance offers an exchange rate for. For example, Bitcoin can be traded with 143 different coins, so we say that Bitcoin has 143 trading pairs on Binance. In this example, our account is funded with Ethereum, so we are only able to trade with Ethereum.

To find out which cryptocurrencies are offered for trading with Ethereum, select ETH in the top right corner. Youll now be able to see that Ethereum has 140 different trading pairs on Binance. Select the coin that you want to exchange Ethereum for. For example, you could choose Ripple .

5. Choose which type of trade you want to make. Binance offers three kinds of trades:

  • Limit orders allow users to set the maximum price they are willing to pay for coins or the minimum price they are willing to sell them for. Traders then have to wait until a buyer or seller accepts their price.
  • allow users to trade coins at their current market price. This kind of trade is the fastest and most simple.
  • Stop-limit orders allow traders to buy or sell a coin once it has reached a certain price. This kind of order is often used by pro-traders.

Today, Im only going to show you how to buy on Binance with . They are quick, simple, and perfect for beginners.

Example Of A Crypto Depth Chart

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For example, if Trader A places a bid for one Bitcoin at $10,000 USD and then Trader B bids for two Bitcoins at $10,000 USD, the number of bids at $10,000 USD adds up to $30,000 USD available to buy Bitcoin at that price point.

So the green line, which represents the bids, plots a dot at each increment along the horizontal axis of the chart , representing each price point through the price range of available bids

At each price point, you can add up all the bids and plot the total along the vertical axis , representing the total number of bids at that price level.

When you roll your cursor over the depth chart on Coinbase Pro, you can see exactly how many bids or asks are placed at the exact price.

Read Also: How To Put Bitcoin On Cash App

How To Mine Bitcoin Bitcoin Faster And More

If you do mining with Cryptotab in a normal way then it is very slow and it may take you a lot of time to get bitcoin and reach the limit as far as you get the facility of bitcoin withdrawal.

Thats why if you want to speed up your mining then you can do two things either you can buy cloud.

If you want to mine more bitcoin without investing then you can refer Cryptotab application to your friends and if your start mining from the link then you will also get a little part of their mining so you will be able to earn more bitcoins.

Crypto Pros Premium Features

Crypto Pro does not have a crypto wallet. You can import the details of your third-party wallets and view them in the app, though.

There is a Pro version of Crypto Wallet, but it doesnt expand the set of features you get very much. Instead, it allows you to make unlimited portfolios.

This is great for seasoned investors with tons of crypto portfolios, but beginners and intermediate users dont need it.

The pro version is $47.99 as of the time of this writing, and all fiat currencies are accepted as payment.

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How To Withdraw Bitcoin From Cryptotab

If you get a bitcoin reward from Cryptotab which is taken from your mining then to withdraw bitcoin you have to follow some conditions

You can not withdraw bitcoin until your reward is 0.00001. If you get mining 0.00001 or more bitcoin then you can get your bitcoin into your wallet.

but if you can not mine 0.00001 bitcoin you will not able to withdraw any bitcoin. But the positive thing is that there is no time limit in which you can complete this bitcoin mining limit.

you can reach this limit at whatever time you want. If you have completed the limit then you will get the option of withdrawal.

you have to fill the address of your bitcoin wallet in the option and your bitcoin will be transferred to your wallet, then you can convert it to money, and then you can use your money however you want.

How To Add An Alert

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After tapping on the three dots and selecting Add Alert, you will be given the option to select the price you would like to trigger the alert and the alert will sound once the asset moves above or falls below this price.

You then choose which exchange price you want to track, and if you just want to be alerted of the general price of the asset you can opt for Global Average before selecting the sound of the alert and its frequency. Once this is done you can click save to finish setting it up.

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What Is A Trading Platform And How Will It Help Me

Trading platforms are some of the best crypto trading tools for bringing your trading to the next level by streamlining it. Instead of having multiple windows open to trade across various exchanges, you can now trade on multiple exchanges all from one platform! This can help you take advantage of market opportunities quicker and closely monitor the market better.

How to find the best crypto trading platform find below!

Api Import & Automatic Sync

  • Exchange API connections to pull your balances for your portfolio: At first glance linking API keys can seem overwhelming, however, Crypto Pro provides detailed guides on how to automatically import your portfolio directly from the exchanges you are using.
  • Wallet balance import from most cryptocurrencies and ERC-20 tokens: Crypto Pro allows users to further import the wallet balance from most cryptocurrencies and ERC-20 tokens. You will never worry about monitoring your small and large caps again. It allows the display of real-time crypto prices with market data and interactive charts.

Recommended Reading: How To Get Crypto Buying Power On Webull

How To Fund An Account

For this Binance tutorial, I will use Coinbase as an example of one way that you can fund your Binance account. A similar process will apply to almost any other exchange you are sending the funds from. I will use Ethereum as an example of a cryptocurrency you can use to fund your Binance account.

1. Go to Coinbase: Login to your Coinbase account and click on Accounts. Next, click on Send where it says ETH Wallet.Youll be asked to enter a Recipient. This is where the Ethereum will be sent. Youre sending it to Binance, so you need to get an Ethereum address from your Binance account.

2. Login to your Binance account. On the taskbar, click on Funds then Deposits.Now, enter the cryptocurrency you need an address for. In this example, Im using Ethereum. Binance will create an Ethereum address for you to send funds to.The ETH Deposit Address is where you will be sending your Ethereum funds so copy and paste it into the Recipient box in your Coinbase account.All you need to do now is and click Send. The funds will appear in your Binance account as soon as they are processed by the Ethereum network.

Now you know how to use Binance to open and fund an account. Next, you can learn how to trade on Binance!

How Will News Aggregators Help Me Profit

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With hundreds of news sites spewing thousands of articles a day and Twitter influencers spreading contradictory opinions, having a source that can aggregate all of this data in one view will be very helpful for feeling a quick pulse on the market and seeing news laid out in one place with these crypto analytics tools.

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What Is A Crypto Portfolio Tracker

A cryptocurrency portfolio tracker is a website, app or another type of platform that allows you to manage your investments and keep track of how the value of your coins are changing.

Trackers link with your wallets and exchanges its a one-stop shop for everything you need to know about how your portfolio changes in value. Cryptocurrency portfolios are most useful for large-scale traders who have more than 3 coins they actively trade in a portfolio.

Some cryptocurrency portfolio trackers also function as cryptocurrency trading platforms. Like a standard tracker, a tracking exchange assigns you an individual wallet key you can use to import and hold cryptocurrencies. These trackers also allow you to buy and sell cryptocurrencies supported on the platform. Leaving your coins inside of your cryptocurrency exchange is convenient for frequent and new traders but its considered unsafe as a long-term solution because exchanges are more frequently hacking targets.

Plan to invest in cryptocurrency for months or years at a time? Its better to use an exterior wallet and tracker.

What Is A Mining Calculator

As I mentioned before, mining profitability depends on several factors. Not only does it depend on which coin you choose to mine at and the cost of your hardware, but you must also consider how powerful your hardware is as well as your electricity costs! Figuring this out can be a huge headache, but thanks to mining calculators, you can speculate on which networks will yield you the most profits.

Recommended Reading: How To Receive Airdrops Crypto

Education & Additional Tools

Its also worth looking out for any additional tools or educational resources offered by the broker, which are invaluable if youre new to crypto investing or scalping. This might include a crypto training course, videos or webinars, a Bitcoin scalping blog, or even a community forum.

For example, Binance has an excellent crypto academy, whilst BitMEX offers a trading community via social media platforms and scalping forums, including Telegram and Reddit. If you prefer non-digital resources, there is also an abundance of crypto and scalping books that you can order online.

Couldnt Live Without This App

How to Use The Currency Calculator

I absolutely love this app. It makes it very easy to keep up with current crypto prices and track my portfolio from all the different exchanges I use. Lots of feature like news, crypto calculator, favorites list, and It has a huge list of cryptocurrency coins and exchanges, and the custom alerts have been a great help with keeping ahead of the volatile price changes inherent in the crypto markets. It has an API option to get info directly from the exchange, but I have never tried using that feature, I just manually enter my balance for each coin. I started using Crypto Pro in November of 2020 and I cant imagine going without it. You have the option to refer 3 people to download the app the get a free year of premium service, and an additional year for for every 3 referrals after that. The candle charts are good for a quick reference but you are limited to 4 or 5 different indicators. I would recommend Crypto Pro to anyone who trades crypto currency and wants to keep up to the minute with the market

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