The post How To Make Money On Crypto? appeared on BitcoinEthereumNews.com.

At the end of October 2024, the global cryptocurrency market cap stood at north of $2.5 trillion, with 24h trading volumes in the neighborhood of $130 billion. These numbers are not easy to digest, but they illustrate the gigantic money-making potential thriving in the crypto market – and inspire many to join the party. Tapping into crypto opportunities might be risky, though, if you come unprepared. Doing your research and applying due diligence is a must. Obviously, good advice and online guides won’t substitute practical knowledge. Still, they help you avoid serious pitfalls and get you on the right track with your initial investment before you become a whale with a diversified investment portfolio. To get you enlightened, let’s dig into the crypto trading fundamentals and then explore common strategies for trading cryptocurrencies with their advantages and downsides. What is crypto trading? Crypto trading refers to the practice of buying and selling various crypto-related digital assets, typically cryptocurrencies, with the aim of making a profit from price fluctuations. The crypto market operates 24/7 and is known for its volatility. This dynamic provides tons of opportunities to earn handsome amounts but also exposes you to the industry’s inherent risks. Price movements, leveraged by crypto investors, are influenced by supply and demand, market sentiment, and external factors, including changing regulations and whimsical financial institutions – all stressful to deal with. Traders can buy and sell crypto assets on exchanges taking advantage of various crypto trading strategies. They can use either centralized exchanges (CEX), which act as an intermediary, or decentralized ones (DEX), which allow users to trade directly with one another. CEX platforms, such as Binance, Coinbase, and Kraken, use custodial crypto wallets (managed by the CEX) and apply KYC procedures. On the other hand, DEX exchanges, such as Uniswap, SushiSwap, and…

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Filed under: News - @ November 1, 2024 6:24 pm