day trading cryptocurrency

Day trading cryptocurrency can be a very lucrative enterprise due to the market’s volatility and substantial price swings. As a relatively new asset class, Bitcoin and other major crypto-assets present a rare opportunity for traders to profit by speculating on its value as it finds its place in the global financial market.

What is Day Trading?

As you might have guessed (given the name), day trading crypto involves opening and closing a position within the same day. Typically, this action is repeated several times within a day, depending on the market’s environment. …

Crypto-asset markets in 2019 have shrugged off the year-long brutal bear market of last year to see growth from lows of around $3,000 per Bitcoin to recent highs of just under $12,000 in July.

However, throughout much of May and June, Bitcoin’s price traded relatively sideways, and while Bitcoin has seen impressive growth so far this year, altcoins have generally been much more subdued through this period.

Profitable trading during steep bull and bear cycles relies on utilizing shorting, as well as opening long positions. …

“Bear market” is the term that strikes varying degrees of fear, despair and a sense of hopelessness into traders who know enough to make a profit some of the time, but not enough to be ambidextrous in the way they develop their strategies.

In fact, the only reason that trading during bear markets could be considered disadvantageous is the mechanics of the tool used to profitably make trades in downwards trends, the short sell. As renowned Enron short-seller, James Chanos, succinctly put it…

“Short selling is an inherently risky proposition. Profits are limited to a maximum of 100% of the…

Each individual has specific needs, hence there is no ‘one’ best crypto trading platform that fits all.

Different attributes, features, and opportunities will appeal to some but not all with respect to their skill level, budget, and jurisdictional limitations, etc.

So let’s break it down into different categories to see which platform’s excel for their different reasons.

Prime XBT recently emerged onto the crypto scene and is gaining momentum expeditiously with the number of traders using the high leverage trading platform significantly increasing with each passing week. When Prime XBT went live on Feb-4th-2019, more than 150,000 people were on a wait list to access the trading terminal, due to the profitable opportunities presented by its impressive feature-suite.

Prime XBT is one of only a small handful of crypto trading platforms that offers the possibility to margin trade with as much as 1:100 leverage and to enter short positions in falling markets. Up until now, BitMEX has…

WaykiChain, a leading blockchain project aiming to provide a secure, reliable and high-performant technology solutions for global prediction markets, decentralized assets exchanges, and decentralized forex exchanges, moved from strength-to-strength in 2018, delivering on the promise to build a robust public chain and big ecosystem.

While many existing online betting platforms have been using the same technologies for the past 15 years, the inaugural WaykiChain betting application, WaykiBet, incorporates the advantages of blockchain to manage asset transactions and betting systems.

Not only has the project built a substantial user-base and following throughout social media, but also consistently delivered on the technical…

Ryan Symes

Blockchain Dev, Working with Solidity and HyperLedger

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