Trading cryptos is risky as we know. These values might rise up or fall down at any time and moment. But it’s easy and instant in several trading platforms with no time limit or high fees. Without additional knowledge you may just gamble in exchanging if you wish, but maintaining profitable trading portfolio requires additional work a little, hopefully you’ll learn from my article of how I started it all. Here is what I’ve learned and I would like to show you a platform GATE, which isn’t so popular, but the benefits seem to exceed popular rivals indeed.
First when I found it, then I noticed there was no user verification required, no ID or passport copy nor other sensitive details. Just pick up any username you wish, load your coins and start trading. Gate has very low fees in exchanging as well withdrawing coins, which is always good. For example in trading it’s just 0.2% and withdrawing 1 ETH would cost you fixed 0.003 ETH + 0% fee. All operations are instant in GATE trading platform.
Let’s continue with basics in cryptocurrencies trading.
1. How to check values and history graphs for different coins?
At GATE website front page, when you open up preferred market from the four available markets (USDT/BTC/ETH/QTUM) then all the coins listed in GATE can be bought and sold in the selected market. USDT stands for “USD Tether“, which is a coin following USD value, 1 USD = 1 USDT. Here is the visual look of the cryptocurrencies list under USDT Market, I sorted it from “24h Change”, you can see these beautiful results here:
2. Researching coin and work in progress
It’s useful to research coins with lowest values, make sure they will rise and buy them.
The goal would be sell them later when they are expensive. To do that, we should use some tools for coin research. Check COINMARKETCAP website, type coin name in the search field, open it up and you are now able to check following details for every cryptocurrency.
first 100 in ranking are safer to trade, as their market capitalization is higher.
Be aware the information and plans, workin in progress might be fake to attract people investing in their project.
Check transactions activity for selected coin.
Read their interviews and posts related to growth in the market.
Telegram group chat related to selected coin, check other people opinions, discuss it.
News and discussion in the bitcointalk forum for selected coin.
It’s useful to buy a coin or token at lowest value, when you are confident about their work in progress and it really seems to you the value may rise again, then buy it. Then set your preferred sell value, when it meets your goal, the exchange will take place automatically, even when you’re logged off from GATE.
Complete cryptocurrency trading tutorial
First load USD Tether balance to start.
I made a small transaction from my Ethereum wallet to my GATE Ethereum wallet and exchanged it to USD Tether balance.
Buy selected cryptocurrency in USDT Market and set your price to sell it automatically, under “Coin to USDT” change USD value to higher, for example if you’ve bought coin for 50 USD, then to make 150% out from it with 50% net profit, set the value to 75 USD. Then press the red sell button and now you can see your trade is active under “Open orders” when you open up your wallets page in GATE.
That’s it! You can cancel trade at any time, by opening your trade from your orders page and the amount of coins you’ve bought you still own them, when it happens the coin value falls down, as well market capitalization and activity stops then unfortunately you most likely lost it. That is the risk you have to understand, trading might be risky as well.
By registering to GATE with my referral link, they offer 10% discount from all your trading fees for 12 months. It’s not much since the fees are very low, but it sure comes in handy.
Thank you for reading and good luck!