Depending on the country from which you visit us, you can that our readers take several days or even weeks of quarantine. However, as we have already said several times here in CriptoTendencia, we can’t allow the quarantine to be an excuse for inactivity. So that we devote our today’s article about things to do with cryptocurrencies during the quarantine period, the trading with these assets.
Why trading with cryptocurrencies?
Trading is not a concept unknown to the crypto world. In fact, it is likely that the majority of people have in these moments cryptocurrencies, have entered the crypto ecosystem as traders. Looking for generate income with the sale of these assets. And that is, the logic of the trading with cryptocurrencies is no different than that of virtually any economic activity. That is to say, try to acquire the product (in this case the criptomoneda) at the lowest possible price, and sell it as expensive as we can. For that, this way, to obtain a profit thanks to the price differential. Of course, this is not the whole story, because in the market it is easier to say that you will reap the profits of trading with cryptocurrencies, to obtain them. Because, in the same we will face with a multitude of data, participants, and financial products. Therefore, it is necessary to put in order our strategy and choose a platform of investment with which we feel comfortable.
Fundamental and technical analysis
The first thing that we must do, if we decided to use our time of quarantine to make trading with cryptocurrencies, is to assess which strategy to apply. Because, being in our homes during the crisis of the Coronavirus, we do not have any excuse to pass data of importance to our investments. Therefore, it is important that we know how to properly use the tools of technical analysis and fundamental. Especially in a time of so much financial volatility, when the smallest news or pressure is sufficient to completely alter the trend in the market of cryptocurrencies. So, you need to be aware of absolutely every event that can affect the cryptocurrencies. From policies implemented by governments, recessions, closure of companies, falls on the stock exchange, international confrontations and, in short, any event with the potential to influence the market. This must be combined with technical analysis of the height. Knowing the main data of the crypto market, liquidity, points of resistance, and the moves made by the whales, the projections and statistics of all the numeric elements that may serve your strategy. There are No excuses for leaving this item aside, then, if you are not good with financial mathematics, here in CriptoTendencia we are constantly publishing technical analysis of the market.
Choose a platform with which you feel comfortable
The second item of importance, so that you can make trading with cryptocurrencies safely, is to choose a platform of investment with which you feel comfortable. Then, at the end of the day, the broker you work with will be crucial for you to get profit. In order to choose it, you have to consider a whole series of elements. From the minimum required deposit to start trading, payment methods accepted, the financial products they offer, the fees they charge, their technical support, and educational material provided, and its leverage. Luckily, here in CriptoTendencia we have published reviews of the brokers most important of the crypto market. So you will have a lot of your search for a broker that suits your needs. However, we encourage you to do your own research, know more brokers and investment platforms, and take your own decision during this quarantine.