Top 3 Best Instruments for Crypto Trading
Trading cryptocurrencies is the number one activity among crypto enthusiasts because of the coins’ volatility.
With cryptocurrencies like Bitcoin or Ethereum, a single trade can conclude in thousands of dollars of profit. Due to this hype, many trading platforms were developed, with more and more features ready to try.
But out of all of these options, which ones are worth it? Quality is always over quantity, so in this article, you will find out the best three instruments you should search for in choosing a trading platform.
Crypto Trading Signals
This instrument is available in different ways, depending on the trading platform you choose. Some might have it integrated on the platform, and others might have a team that decided to message directly to their users.
Regardless of the method, this instrument is a big plus for every crypto trader because it tells you when it’s the best time to make a trade and what are the best pairs at the moment.
With crypto trading signals, you will never lose a trading opportunity – unless you’re sleeping. But hey, you can’t have them all, right?
Crypto Trading Futures
This instrument is a little more complex than others, which is why it is kind of rare to find it.
Crypto futures are derivative contracts that require users to make trades at a predetermined future price, no matter the current market price.
This might be a huge advantage and also a huge risk. Let’s take Bitcoin, for example.
When it reached $60,000, some futures might set its price to $70,000. But now, the market price is at just $32,000. Therefore, this instrument protects a lot of users against bear markets. But, at the same time, you can also find yourself losing bull markets as well.
A double-edged sword.
Crypto Copy Trading
That’s the easiest way to trade your crypto because it doesn’t require any kind of effort. You just simply choose a top trader and let the platform do for you the same trades they do.
However, this instrument can give you a lot more than copied trades. Most crypto trading platforms don’t limit your trades to a single master. You can divide your portfolio and choose a trader for every piece of assets.
Even more, all the trades come with charts and details that show you exactly what the trader did in your absence. That means you can analyze their trading strategy and see what you can do even better than them.
The best way you can use this instrument is to learn from the best.
What is your favorite trading instrument? Tell us in the comments!
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OhNoRipple via https://www.ohnocrypto.com/ @Tabassum Naiz, @KhareemSudlow
