Day Trading Crypto Best Graph

Day trading crypto best graph

Cryptocurrency Day Trading 2020 in the Netherlands – Tutorial and Brokers

Day trading cryptocurrency has boomed in recent months.

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High volatility and trading volume in cryptocurrencies suit day trading very well. Here we provide some tips for day trading crypto, including information on strategy, software and trading bots – as well as specific things new traders need to know, such as taxes or rules in certain markets.

We also list the top crypto brokers in 2020 and show how to compare brokers to find the best one for you.

Crypto Brokers in the Netherlands

BitMex offer the largest liquidity Crypto trading anywhere.

Contracts from $1

With the cryptocurrency pairs available on all accounts, NordFX traders can trade with spreads of just 1 pip. Trade 11 Crypto pairs with low commission.

IC Markets offer a diverse range of cryptos, with super small spreads.

They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet.

Finq offer some really tight Crypto spread on the leading cryptocurrencies, plus 1:2 leverage

Cryptocurrency Trading is available via CFDs on the MT5 binary.com platform

Invest.com provide portfolio management plus standard trading.

Leverage and spreads improve with each account level - Bronze, Silver or Gold

New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies.

Payouts reach 95% per trade.

Zulutrade work with a range of brokers that deliver trading on a huge range of cryptos - See each brand for specifics

BinaryCent are a new broker and have fully embraced Cryptocurrencies. In addition to offering many alt-coins to trade, BinaryCent also accept deposits and withdrawals in 10 different crypto currencies.

Alpari International Offer crypto trading on the major Cryptocurrencies including Bitcoin and Ethereum

Pepperstone offer trading on the major Cryptocurrencies via a range of trading platforms.

Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs.

Their message is - Stop paying too much to trade

Plus500 accounts can trade CFDs on a range of cryptocurrencies 24/7, with competitive spreads (Just 1% for BTC).

Leverage of 1:2 is also available.

76.4% of retail accounts lose money.

Skilling offer crypto trading on all the largest currencies available, with some very low spreads.

73% of retail CFD accounts lose money.

Regulated in 5 continents, Avatrade offer a very secure way to access Crypto markets.

Best platform to day trade crypto

They offer a great range of Crypto, very tight spreads, and 1:2 leverage. [Not available in Canada]

71% of retail accounts lose money with this provider.

Trade the major Cryptos against USD, EUR, GBP and AUD.

Top 10 Bitcoin price prediction charts for Bitcoin halving 2020

All traded with tight spreads. No virtual wallet required, just a trading account.

69% of retail accounts lose money with this provider.

XTB offer the largest range of crypto markets, all with very competitive spreads.

Day trading crypto best graph

They also offer intra-crypto pairs such as ETHBTC and DSHBTC etc

77% of retail accounts lose money.

IG Offer 11 cryptocurrencies, with tight spreads. Trade crypto with the safeguard of negative balance protection.

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Trade 5 different cryptocurrencies via Markets.com feature rich platform. Leverage capped at 1:2 for EU traders.

CFDs carry risk.

Cryptocurrency Day Trading 2020 in the Netherlands – Tutorial and Brokers

64% of traders lose.

eToro lead the way in Crypto trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of Cryptos to trade.

Day trading crypto best graph

FCA Regulated.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.

77% of retail accounts lose money with this provider.

Trade the four largest Cryptocurrencies with 50% and ultra tight spreads

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

70.16% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.

Ayondo offer trading across a huge range of markets and assets.

They also offer negative balance protection and social trading.

77.2% of retail accounts lose money with this provider.

Trade Major cryptocurrencies with the tightest spreads. Chose from micro lots and speculate on Bitcoin, Ethereum or Ripple without a digital wallet.

80% of retail accounts lose money.

XM offer Crypto trading with tight spreads across 5 major cryptocurrencies

68.15% of retail accounts lose money.

A regulated bank, Saxobank offer CFD, Stocks and Forex trading on 35,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

72% of retail accounts lose money.

Investous offer crypto trading with some of the smallest spreads available, across all major cryptocurrencies.

82.11% of retail accounts lose.

FXCM are an FCA regulated, London based broker.

Companies under the FXCM umbrella are also regulated in Australia and Canada.

73.62% of retail accounts lose.

Trade Micro lots (0.01) of 12 cryptocurrencies. Major cryptos traded against USD, GBP and EUR

78.3% of accounts lose money when trading CFDs.

FXTM offer crypto trading via Exinity Limited Instruments offered are based on your country of residence.

83% of retail accounts lose money.

SpreadEx allows European traders to spread bet on crypto prices, including BTC, XRP and LTC, with tiny spreads.

68% of retail spread betting accounts lose money with this provider.

AxiTrader offers competitive spreads on a large range of Forex and CFD markets, integrated into the MetaTrader 4 platform.

Day trading crypto best graph

FCA and ASIC regulated.

68.5% of retail investor accounts lose money when trading CFDs with this provider

24option offer crypto with the tightest margins. They also offer markets against a range of currencies, not just USD.

86.24%% of retail accounts lose money with this provider.

Capital.com have some of the tightest spreads available on Crypto.

Trading cryptocurrencies for dummies.

They also offer crypto pairs, so that traders can trade cryptos versus each other, not purely the $ or € price. They one of the best brokers for trading Crypto

76.2% of retail accounts lose money.

Show All Brokers ⇩

How To Trade Cryptocurrency

Scared of missing out?

Here is a quick plan to get you trading cryptocurrency quickly;

  1. Decide if you want to own the cryptocurrency, or simply have a hunch that it’s value will go up or down.
    • If you want to own the currency, you need an exchange – Try Hodly – It is a simple, user friendly app
    • If you want to speculate on the price, you need a broker.

      Check the list above or use the broker page for a full list.

  2. Fund your account
  3. Buy the Cryptocurrency you want, or open a trade on it’s price.

Congratulations, you are now a cryptocurrency trader!

Remember, you can run through the purchase or sale of cryptocurrencies on a broker demo account. Unfortunately, you cannot practise on an exchange.

Trading crypto generally revolves around speculating on it’s price, rather than owning any of the actual coins.

For this reason, brokers offering forex and CFDs are generally an easier introduction for beginners, than the alternative of buying real currency via an exchange.

How to Compare Brokers

Which cryptocurrency platform you opt to do your trading on is one of the most important decisions you’ll make.

The exchange will act as a digital wallet for your cryptocurrencies, so don’t dive in without considering the factors below first.

Some brokers specialise in crypto trades, others less so.

Top 5 Best Cryptocurrencies for Day Trading in 2020

Others offer specific products. IQ Option for example, deliver traditional crypto trading via Forex or CFDs – but also offer cryptocurrency multipliers. These offer increased leverage and therefore risk and reward. Innovative products like these might be the difference when opening an account cryptocurrency day trading.

Apps & Software

Day traders need to be constantly tuned in, as reacting just a few seconds late to big news events could make the difference between profit and loss.

That’s why many brokers now offer user friendly cryptocurrency mobile apps, ensuring you can stay up to date whether you’re on the train, or making your sixth coffee of the day.

The cryptocurrency trading platform you sign up for will be where you spend a considerable amount of time each day, so look for one that suits your trading style and needs. Exchanges like Coinbase offer in-depth platforms, such as their Global Digital Asset Exchange (GDAX).

Best TIPS on how to read charts for cryptocurrency! - Technical Analysis

It’s always worth setting up a demo account first to make sure the exchange has the technical tools and resources you need.

Security

Always check reviews to make sure the cryptocurrency exchange is secure. If your account is hacked and your digital currency transferred out, they’ll be gone forever.

So whilst secure and complex credentials are half the battle, the other half will be fought by the trading software.

Fees

Each exchange offers different commission rates and fee structures.

Genesis global trading bitcoin

As a day trader making a high volume of trades, just a marginal difference in rates can seriously cut into profits. There are three main fees to compare:

  • Exchange fees – This is how much you’ll be charged to use their cryptocurrency software. What currency and coins you’re trading can influence the rate.
  • Trade fees – This is how much you’ll be charged to trade between currencies on their exchange.

    A marker fee is the cost of making an offer to sell. A taker fee is the cost of taking an offer from somebody.

  • Deposit & Withdrawal fees – This is how much you’ll be charged when you want to deposit and withdraw money from the exchange. You’ll often find it’s cheaper to deposit your funds.

    How To Day Trade Cryptocurrency

    Also keep in mind some exchanges don’t allow credit cards. Using debit/credit will usually come with a 3.99% charge, a bank account will usually incur a 1.5% charge.

Final Word On Brokers

This isn’t a decision to take lightly. Do the maths, read reviews and trial the exchange and software first.

Coinbase is widely regarded as one of the most trusted exchanges, but trading cryptocurrency on Bittrex is also a sensible choice. CEX.IO, Coinmama, Kraken and Bitstamp are other popular options.

Market Rates

Cryptocurrency Trading For Beginners

Before you choose a broker and trial different platforms, there are a few straightforward things to get your head around first.

Understanding and accepting these three things will give you the best chance of succeeding when you step into the crypto trading arena.

  • Find out what’s growing – Bitcoin, Ethereum and Litecoin top the list for tradability and ease of use. However, there are also Zcash, Das, Ripple, Monero and several more to keep an eye on.

    Do your homework and find out what’s on the up and focus your attention there.

  • Embrace volatility – Cryptocurrencies are famously volatile.

    How to Day Trade Cryptocurrency: Best Strategy for Beginners

    The price of Bitcoin, for example, went from $3,000 down to $2,000 and then leapt up to nearly $5,000, all within three months in 2017. Whilst this means risk is high, it also means the potential for profit is great too. It’s always sensible to check the volatility of the exchange you decide to go with.

  • Understand blockchain – You don’t need to understand the technical complexities, but a basic understanding will help you respond to news and announcements that may help you predict future price movements.

    It is essentially a continuously growing list of secure records (blocks). Cryptography secures the interactions and then stores them publicly.

    Live Chart

    They serve as a public ledger, cutting out intermediaries such as banks.

Wallets

If you want to own the actual cryptocurrency, rather than speculate on the price, you need to store it.

There are a huge range of wallet providers, but there are also risks using lesser known wallet providers or exchanges. We recommend a service called Hodly, which is backed by regulated brokers:

Join here

Strategy

Once you’ve decided on a broker, got familiar with your platform and funded your account, it’s time to start trading.

You’ll need to utilise an effective strategy in line with an efficient money management system to make a profit. Below is an example of a straightforward cryptocurrency strategy.

Swing Trading

This straightforward strategy simply requires vigilance.

Day trading crypto best graph

The idea is you keep a close eye out for a correction in a trend and then catch the ‘swing’ out of the correction and back into the trend. A correction is simply when candles or price bars overlap.

Why does Bitcoin halving effect the price?

You’ll find trending prices move quickly, but corrections, on the other hand, will not.

Let’s say on your cryptocurrency chart at 250-minute candles, you see 25 candles where the price stays within a 100 point range.

If the price contracted to a daily move of just 20 points, you’d be seriously interested and alert. You should see lots of overlap. This tells you there is a substantial chance the price is going to continue into the trend.

You should then sell when the first candle moved below the contracting range of the previous several candles, and you could place a stop at the most recent minor swing high.

It’s simple, straightforward and effective.

Tips

Even with the right broker, software, capital and strategy, there are a number of general tips that can help increase your profit margin and minimise losses.

Day trading crypto best graph

Below are some useful cryptocurrency tips to bear in mind.

Utilise News

Short-term cryptocurrencies are extremely sensitive to relevant news. When news such as government regulations or the hacking of a cryptocurrency exchange comes through, prices tend to plummet.

On the flip side, if a big company announces they’ll be incorporating the use of a currency into their business, prices can climb quickly.

If you’re aware of any news and can react rapidly, you’ll have an edge over the rest of the market.

Technical Analysis

Analyse historical price charts to identify telling patterns. History has a habit of repeating itself, so if you can hone in on a pattern you may be able to predict future price movements, giving you the edge you need to turn an intraday profit.

For more details on identifying and using patterns, see here.

Study Metrics

This is one of the most important cryptocurrency tips. By looking at the number of wallets vs the number of active wallets and the current trading volume, you can attempt to give a specific currency a current value. You can then make informed decisions based on today’s market price.

What is Bitcoin halving?

The more accurate your predictions, the greater your chances for profit.

Trade On Margin

If you anticipate a particular price shift, trading on margin will enable you to borrow money to increase your potential profit if your prediction materialises. Exchanges have different margin requirements and offer varying rates, so doing your homework first is advisable.

Bitfinex and Huobi are two of the more popular margin platforms.

Remember, Trading or speculating using margin increases the size of potential losses, as well as the potential profit.

Rules & Taxes

The digital market is relatively new, so countries and governments are scrambling to bring in cryptocurrency taxes and rules to regulate these new currencies.

If you’re not aware of these before you start trading, you may find yourself in a spot of expensive bother further down the line.

Rules

Many governments are unsure of what to class cryptocurrencies as, currency or property. The U.S in 2014 introduced cryptocurrency trading rules that mean digital currencies will fall under the umbrella of property.

Traders will then be classed as investors and will have to conform to complex reporting requirements. Details of which can be found by heading to the IRS notice 2014-21.

Taxes

On top of the possibility of complicated reporting procedures, new regulations can also impact your tax obligations.

Day trading crypto best graph

The U.S, the ‘property’ ruling means your earnings will now be deemed as capital gains tax (15%), instead of normal income tax (up to 25%). Each countries cryptocurrency tax requirements are different, and many will change as they adapt to the evolving market.

Before you start trading, do your homework and find out what type of tax you’ll pay and how much.