The easiest way to trade cryptos!
By Muralish Clint on The Capital
Trading cryptocurrencies can be a real struggle if you’re coming from a third world country. In this article, I’ll be sharing my experience of how I started my crypto trading journey.
I come from Srilanka and trading cryptos are banned here. Your bank cards will be immediately declined if you try to buy and there are literally no options to buy cryptocurrencies for the market price. The crypto community is also very small and there are not many groups where you can exchange ideas.
So how did I solve this and start making money trading cryptos?
I came across this platform called Paxful and it’s a peer to peer crypto exchange. All I had to do was:
- Look for a seller in my locality
- Look if the seller accepts a payment method convenient to me
- Try negotiating the price
- Make the payment and receive Bitcoins
Sounds great, doesn’t it? But this still didn’t solve my problem!
I wanted to do swing trading with my cryptos and by the time I found a seller, sent him the money, and got paid in bitcoins, I was losing a lot of money. Paxful also had too many scammers on their network and it wasn’t easy to make deals.
After months of ups and downs, I found my jackpot!
Trading on Binance
People in the crypto world would have definitely heard of Binance and Binance is a specialized trading platform. It supports trading of 150 coins and this is exactly what I had needed.
After weeks of trial and error, I found the following way to start your profitable trading journey.
- Buy bitcoins from Paxful
- Sell your bitcoins for an altcoin
- Receive your altcoin to a Binance address
- Convert your altcoin to your preferred altcoin
- At the end of the day, I convert all my earnings to USDT
This technique worked for me and through continuous learning and building strategies, I have doubled my initial investment in a span of 3 months.
What is the advantage of my method?
- Cost-saving, You save loads of money on trading fees
- Safe, since you don’t need to be worried about scammers
- Legit, Binance is one of the largest Blockchain startups
- Fast, You place a trade for the market price and the trade happens instantaneously
- Easy, Buying bitcoins from Paxful, and transferring it to Binance is the only troublesome bit. Then onwards, everything is simple!
In my upcoming posts, I’ll be sharing the trading strategies that helped me double my investment. Had I known these developed strategies earlier, I would have saved loads of money.
Thank you, Happy Trading!
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