4.8 C
New York
December 6, 2022
Crypto Biz Trade
Cryptocurrency

Binary options and cryptocurrencies: what to earn on?

Trading binary options is considered one of the most profitable directions in trading. But along with high profitability, this type of trading also carries high risks. Experienced traders assert that trading binary options is profitable, but only if trading is based on thorough analysis of the market and not a guessing game. The percentage of profit when trading binary options depends on the type of bet and the broker’s conditions. Most often it is possible to earn from 60 to 90% of the bet amount. The real profit can be received, closing in plus of 60 transactions from 100. Approximate calculation of profit per month with 1000 USD deposit and broker payout 85% of profit (we take 3% risk from the deposit as a base).

A beginner should start with learning how to trade binary options. For this purpose it is not necessary to buy an expensive training course, to enroll in an online-school or to hire a personal teacher. All the information you need is freely available on the internet. To begin with, find out what binary options are, what strategies there are, what signals there are. After studying these questions, choose the asset you will be trading. This can be a popular currency pair, stocks, indices, commodities, etc.

Earnings on a cryptocurrency exchange

Cryptocurrency exchange is the main place for earning cryptocurrencies at the moment (see Revieweek.com for current rating). There are a lot of crypto exchanges in the world, so you have to choose which one to work on. It is possible to earn on, for example, on strategies. A trading strategy defines entry points and exit conditions, time intervals between entry and exit points, the proportion of the deposit with which a position is opened, conditions under which a position is closed, and so on. The parameters set by the trading strategy are not universal, for each cryptocurrency it is required to develop its own strategy taking into account the analysis of the behavior of this particular cryptocurrency.

Bot for earning cryptocurrency

A cryptobot, such as RevenueBot, is a program that is configured to automatically trade cryptocurrencies according to set parameters. Bots can be trading and arbitrage. Trading bots trade on the same exchange, arbitrage bots buy coins on the exchange where the rate is relatively lower and sell them on the exchange where the price is higher.

Bots can simply buy currency when the exchange rate falls and sell when the rate rises, but there are bots that are set up for quite complex actions – they track the dynamics of the exchange rate, make deals under certain conditions, and analyze many indicators. Bots act in accordance with the strategy that the trader develops for them, but it is preferable for novice traders to use bots with already set parameters. Cryptobots can be downloaded for free, bought and written by yourself if you have the appropriate skills, or you can add a script that can be downloaded from a third-party resource.

Related posts

What Are The Benefits Of Switching To USDT Payments?

admin

For what reason Did Banks Ban Cryptocurrency Purchases Using Their Credit Cards?

admin

What Are the Cryptocurrency Malpractices That You Need to Be Aware of?

admin