Trading Bitcoin Against Altcoins Is Very Profitable

Crypto-Currency Market Capitalizations

Trading bitcoin against altcoins is a very profitable venture as long as you are willing to be patient and adopt some useful strategy. I may not be a professional forex trader but the little i have learnt through self study and practical experimentation is really helping in my crypto trading and has helped me to become very experienced.

Some common strategy that are of help to make profit include

1 Buy cheap and sell high

2. sell cheap and buy cheaper

Question: what do i do if i buy and the price falls instead of rising? am i not loosing?

Answer: Trading cryptos is not a smooth ride all the time. Dont invest funds you cant afford to loose. However there are more profits to be made than loses. Trust me i have been there.

To answer the question. If you notice a fall in price of a coin you bought, some exchanges offer a tool to help you set a stop limit. You can use this tool to minimise your loss if you cannot wait to long for the coin to increase in value.

The second way which to me is the best is this. Lets assume you have 3 bitcoins and you have decided to trade it with litecoin(ltc). Assuming the price of 1 litecoin is say 840,000 satoshis , do not buy litecoin with all your bitcoins at that price of 840,000 sats because cryptos is very volatile and the price may crash from 840k sats to 780k sats.

This is what to do. Use 1 btc to buy litecoin when the price is 840k sat so that when the price falls to say 780k sats use another btc to purchase at the new price and monitor the market. if it falls to say 700k purchase again with the remaining btc and then find your average buying price which should be about 773k sats. At this point you start monitoring your investment. Any price above 773k sats is a profit for you which can happen that day, in 2 days or a weeks time. If the price rise to 890k sats and you decide to sell at that price you will be making about 3.454 btc.

At this point you can remove your profit of 0.454btc which is about $190(above N50,000) and reinvest your 3btc again.

I was able to convince a friend about 2 months ago to try out this crypto trading after showing him my proof. He reluctantly parted with N15k thats about 0.108 bitcoin i had to assure him that i will insure the money for him. I guided him and we used the 0.108btc to buy an alt coin called syscoin which was doing well. we bought it for 633 satoshis few days later the price rose to 748 satoshis. I adviced we sell at that price and made about 0.13btc thats a profit of 0.022btc.

The profit may not be much but imagine if he invested 1btc, a profit of about 0.18btc ($75 = N21500 or so) would have be made.

Ever since I started crypto currency trading I have not looked back.

Thanks

Tags from the story
, , ,
Written By

Dalemat is a full time crypto currency trader for more than a year based in Nigeria. He currently teaches group of Nigerians on how to trade bitcoins against altcoins. He is the site owner of a blog crypto currency trading. http://crypto-currency-trading.blogspot.com.ng/ He also owns a group chat on telegram where he also shares his knowledge on crypto currency trading and it is free to join by clicking on the link.

59
Leave a Reply

avatar
59 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
48 Comment authors
JaviercipWilburRofJaviercipRusselldemWalterPreva Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
MarcosChins
Guest
MarcosChins

tadalafil: http://tadalafilonline20.com/ generic tadalafil

MichaelCer
Guest
MichaelCer

generic drugs without doctor’s prescription prescription drugs without a doctor

MichaelCer
Guest
MichaelCer

meds online without doctor prescription usa pharmacy india

MichaelCer
Guest
MichaelCer

medications without a doctor’s prescription drugs without doctor script

JeffreySwene
Guest
JeffreySwene

best over the counter viagra viagra discount
viagra from canada

JeffreySwene
Guest
JeffreySwene

viagra over the counter walmart where to buy viagra online
viagra from canada

JeffreySwene
Guest
JeffreySwene

mexican viagra viagra from canada
buy viagra online canada

JeffreySwene
Guest
JeffreySwene

viagra without a doctor prescription usa п»їviagra pills
viagra cost

agreern
Guest

http://vskamagrav.com/ – kamagra ajanta pharma limited

JeffreySwene
Guest
JeffreySwene

where to buy viagra 100mg viagra
over the counter viagra

StanleyUriff
Guest
StanleyUriff
StanleyUriff
Guest
StanleyUriff

buy valtrex canada valtrex generic prescription

Thomaslar
Guest
Thomaslar

buy viagra online canada https://viagrapills100.com/ when will viagra be generic

Thomaslar
Guest
Thomaslar

buy viagra online canada https://viagrapills100.com/ viagra cost per pill

ElmerKarry
Guest
ElmerKarry

buy ed drugs buy ed pills from canada
ed causes and cures

ElmerKarry
Guest
ElmerKarry

best pill for ed natural cures for ed
ed pills online

Jasonsar
Guest
Jasonsar

https://zithromaxst.com/# average cost of generic zithromax

Jasonsar
Guest
Jasonsar

https://gabapentinst.com/# neurontin 300 mg tablet

Jasonsar
Guest
Jasonsar

http://gabapentinst.com/# neurontin 600 mg tablet

ScottJam
Guest
ScottJam

http://zithromaxproff.com/# can you buy zithromax over the counter in mexico
azithromycin zithromax

ScottJam
Guest
ScottJam

https://zithromaxproff.com/# buy zithromax 1000 mg online
generic zithromax 500mg

ScottJam
Guest
ScottJam

floxin price: generic chloramphenicol
order stromectol

Stevenhearf
Guest
Stevenhearf

reputable online pharmacies in india: order prescription drugs from india united pharmacy india

Stevenhearf
Guest
Stevenhearf

cheap online pharmacies from india: india pharmacies online india pharmacies online

BillyNep
Guest
BillyNep

best male erectile dysfunction pill: viagra pills erectile pills canada

Danilorot
Guest

free local singles
personals sites

BillyNep
Guest
BillyNep

ed meds: order erectile dysfunction pills male erectile pills

BillyNep
Guest
BillyNep

levitra pills: over the counter ed medication order erectile dysfunction pills online

TimothyJoutt
Guest

free online dating
free online dating

Jamestah
Guest
Jamestah

no prescription viagra viagra prescription viagra without prescription

TimothyJoutt
Guest

free dating sites
dating websites

Jamestah
Guest
Jamestah

https://clomidst.com/# clomiphene generic

Jamestah
Guest
Jamestah

https://diflucanst.com/# diflucan best price

MyronBrots
Guest

free online dating sites
personals sites

Jamestah
Guest
Jamestah

https://doxycyclinest.com/# buy doxycycline without prescription

Jamestah
Guest
Jamestah

https://doxycyclinest.com/# generic for doxycycline

RobertTiz
Guest
RobertTiz

buy lasix online: lasix – lasix pills

RobertTiz
Guest
RobertTiz

lasix for sale: cheap furosemide – buy lasix online

RobertTiz
Guest
RobertTiz

generic for paxil: paxil generic – paxil flu

ThomaskiG
Guest
ThomaskiG

tadalafil online: order tadalafil – tadalafil
generic tadalafil

ThomaskiG
Guest
ThomaskiG

generic ventolin: albuterol inhaler for sale – can you buy ventolin over the counter
tadalafil 20mg

ThomaskiG
Guest
ThomaskiG

ventolin discount coupon: ventolin inhalers for sale – cheap ventolin inhalers
generic tadalafil

ThomaskiG
Guest
ThomaskiG

buy ventolin australia: ventolin generic – can i buy ventolin over the counter in canada
tadalafil pills

RobertHex
Guest
RobertHex

ed remedies erectile dysfunction pills – medicine for erectile
best ed treatment

RobertHex
Guest
RobertHex

buy erection pills new treatments for ed – gnc ed pills
best ed drugs

Victorlow
Guest
Victorlow

good pharmacy canadianpharmacyworld com – canadian family pharmacy
american online pharmacy

Victorlow
Guest
Victorlow

online pharmacy no prescription erectile dysfunction pills – mexican pharmacy online
family pharmacy

Javiercip
Guest

tinder date , tinder website
tinder dating app

WalterPreva
Guest
WalterPreva

buy cialis without perscription: cheap generic cialis – where can u buy cialis

WalterPreva
Guest
WalterPreva

fastest delivery of generic cialis: ed drugs – buy cialis insurance