We have gone through meticulous research to understand the best exchanges to use
Using comparable factors such as, Security, Volume, Liquidity, Fees, Variety of coins listed, Support and Speed of KYC processing.
While exchanges are global, it’s necessary to select an exchange that is in your location zone, so when making a transfer you will know the duration it takes for your funds to clear and the fees you will pay for your transfer and whether it’s local or international. transfer, which will affect bank fees aAnd the duration it takes, for funds to be cleared.
Our exchange recommendation is Binance
it’s a regulated exchange that is based in Malta with an international
standard of accessibility
Set up a 2-factor authentication, which creates another wall of security.
We recommend google authenticator, download for Apple or for Google Play.
It’s absolutely IMPERATIVE to write down your recovery code and store in a safe place.
Ensure that the “Time Based” button is on so it synchronizes the code to your exchange.
Start the KYC process to get fully verified, as you reach higher levels of verification your deposit and withdrawal limits become larger.
You are now set up to make a transfer to your account to purchase cryptocurrencies
To further secure your account on your platform, activate withdrawal authentication, so if your funds are trying to be withdrawn only you can authorize this.
Authorize the list of devices you have to access your account, if you see a device that you may have used previously such as a shared office computer, delete it. Use only your personal devices to access your exchange.
Here you add the crypto currency address to the exchange/wallet where you wish to withdraw your funds, it’s usually the same exchange you use to transfer money to buy the crypto currency in the first place, such as Luno or Kraken. You will add the address here so that you can only withdraw your funds to this address.
Are you ready?
When you’re set up, look at our platforms page to further your knowledge
Never under any circumstances give any 2fA codes, recovery codes or access details to anybody except for your attorney or someone you trust as an insurance for your funds in case anything should happen to you
Always keep proof of funds used to invest in Cryptocurrency
Fiat To Crypto
- You simply select “Deposit” on your exchange, select the currency you wish to send and DON’T FORGET TO INPUT THE CORRECT REFERENCE.
- Once the funds are cleared and allocated to your cryptocurrency exchange account, you can then purchase the coins of your interest.
- We always recommend holding at least 50% of your portfolio in Bitcoin.
Crypto To Crypto
- Select “Deposit” and the select the coin that you wish to transfer, input the address and send. You will be prompted to add your 2FA or other security codes you have activated to authorize the transfer
- It is extremely important to ensure you have inputed the correct address. One wrong digit and your funds are lost forever, there is no way to get them back.
- It is also important to remember that each coin has its own wallet address and sending Etherium to a bitcoin address for example, will result in funds being lost forever.
Ok, so now you have setup your account, you have made your transfer and you have bought your cryptocurrencies.
You need to track their performance by understanding some basic charting:
First things first, we recommend that you use TradingView, all professional traders use this platform as it’s the most user friendly and has the biggest toolbox to analyze a chart.
- Register your account so your chart settings will be saved
- Always use a candle chart, it provides the most information about performance over specific timeframe.
- A green candle means that the stock has opened higher than the previous days close, while a red candle means its opened lower than the previous close.
- The wick of the candle will tell you the highest value or lowest value of a stock for that period you choose.
Let’s assume you select the daily candle, and today’s candle opens green, this would mean that the previous days close stock price was lower. Now let’s assume that within that day the wick touched 5$ but now is sitting at 8$, you would know that just by looking at that wick, so far the lowest value of that stock was 5$.
SECONDLY, LEARN TO UNDERSTAND the trend of a stock. There are 3 major trends, Bull, Bear and Consolidation. Bull you would buy or long the stock, Bear you would sell or short the stock and consolidation you get out of the market entirely and wait.
- Long means the same as buying while shorting doesn’t just mean you sell a stock but you buy a stock knowing that the price is going to drop, so you take a “bet” with the market that the price of a stock will drop and if it does you profit, if not you lose.
- Always zoom out to the monthly and weekly timeframes to understand the major market movement trend, this will give you a better understanding of which direction the stock is likely to lean toward.
Thirdly, setup your Relative Strength Index, known as RSI, this indicator gives you a very good understanding of whether the stock is overbought or oversold.
The thinking behind this tool is directly correlated to the Fear & Greed index. If a stock is overbought(runs above 70 on the RSI frame) there is more greed in that stock such leads to a high likelihood that the stock will drop in price in order to come back to a fair price to equalize the supply and demand. If the stock is oversold, it means that there is fear in the that stock and is underpriced, which translates to a buy opportunity. Overbought, Sellers market so sell, Oversold Buyers market so buy.
Lastly, setup your 200 day and 50 day Moving Averages.
This is a widely used tool and rightfully so. It takes historical data of that stock over the last 50 and 200 days and predicts which direction the stock is likely to go. You will find that on each timeframe, both the 50 day and 200 day Moving Averages, will act as supper and resistance for a price. Support meaning a buy opportunity and resistance meaning a short opportunity or a sell.
Take your charting to the next level with our platform recommendations.