Many shrewd investors are embracing the crypto currency market because there is big money to be made in this market right now. Trading on crytocurrencies is a great idea because this industry is still relatively new. This means you can invest your capital and get a decent margin if you know the rules of the game. Below are some smart ways to make money from margin trading crypto.
Study the Market
In the business world, it does not pay to rush into any investment. Before investing in the crypto market, you should take time to study the market. The same investment principles work for stock trading, Forex trading and crypto trading. Look at the trend and establish whether you are looking at a downward trend or an upward trend. Study price movements and figure out the best time to enter the market.
Exit at the Right Time
There is no reason to stay too long in any market. The trick to making money from margin trading is to have an exit point in mind before you invest. This means you are targeting a particular profit percentage. Once the market hits your anticipated target, you can take profit and enjoy the margin. This way, you are not likely to lose your capital.
Choose Your Trading Time
A smart investor does not trade every day. This is the first thing you should know when you are trading cryptocurrencies. Sometimes, the market is flat and you cannot tell whether you are looking at a rising trend or a falling trend. When the market is fuzzy, the best move is to stay away and just watch the market from a safe distance. When the market gets more predictable, you enter and make a large profit. This is how the gurus trade and this is how you should trade.
Follow Your Instincts
The crypto market is not an exact science. Sometimes, all the indicators tell you to enter the market. The current news indicates that this is the right time to trade. However, your gut feeling tells you not to trade. The point here is that you should not go against your gut feeling. Follow your instincts and stay away when you smell danger for some inexplicable reasons.
Have a Fallback Position
In every business, it pays to have a “Plan B’. Do not place all your capital in just one transaction because the unexpected may happen without warning. Invest carefully, increase your capital when the time is right and always for a safe but decent margin. This is the secret of margin trading crypto success.
Cardano, a famous blockchain product, continues to excite its shareholders with its recent roadmap for the future. Even their competitors are getting shivers when they read the roadmap. Cardano is promising more and better releases before the end of 2018. Surely, the cryptocurrency must be one of the most hopeful blockchains in the world today. But, are there any pieces of evidence to justify this claim? Well, there are reasons to believe that they are currently setting the trend, and it’s just a matter of time before they top the performance list. Here are the obvious justifications:
1. Decentralized POS
In September, Cardano released decentralized POS (Proof of Stake) tokens for its stakeholder. Since their launching, the tokens have stirred excitement in the staking community. The tokens are easily delegated to the Cardano staking pool as investment. This clearly shows that the cryptocurrency is dedicated to give the stakeholders a powerful and practical decentralized database.
2. Multi-Signature System
When a blockchain merges with the banking sector as Cardano did, many people wonder how issues to do with the joint accounts will be solved. To handle the challenges, Cardano is currently implementing a system for multi-signature transactions. The system will be activated when both parties agree. At the moment, the implementation is at 35% but Cardano promises to complete it before the end of the year.
3. Paper Wallet
There are rumors that Cardano will move to paper wallet and that they’ve partnered with Genesis Vision (GV) and so payments via the cryptocurrency will be enabled through GV. If the rumors are really true, stakeholders should expect to keep their Ada coins longer offline.
4. Incentive Scheme
On the roadmap, Cardano mentions an incentive plan for rewarding the best performers. In this case, participants for the Cardano staking pool should expect more returns from their tokens. However, they will need to perform at a higher level to reap better returns. This means putting more stakes in their block contributions. Nonetheless, the plan is still being evaluated carefully as there will be people that will try to take advantage of uneven rewards and compensations. Although the implementation is still down the road, it is signifies a good intention on the part of Cardano developers.
Looking at the above-listed points described on the Cardano roadmap, it’s evident that the cryptocurrency is on course to top the cryptocurrency chart soon. The prospects are higher and 2018 is the stepping stone to their inevitable elevation. When it happens, it will be a win-win for the cryptocurrency and for the stakeholders.