5 Basics to becoming a Crypto Trader

For advanced traders, charting tools are a must. And, even for a beginner, there is useful information to be gleaned from opening a price chart and applying some simple tools. For example, we can see below a screenshot of the price chart for Bitcoin – with eToro’s available tools in the dialogue box in the centre. There is a wealth of choice here. Selecting one of the tools will overlay certain useful information on the chart. For example, the screenshot below shows the ‘Moving Average’ of Bitcoin’s price with a red line.

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Some of these gurus have bucked the bear market entirely – check out Roberto Anzellotti with 554 copiers, who has managed a 12-month return of 61.81%. This is a great way for beginners to get into crypto by copying investors with proven track records of returns. The cherry on the cake is its regulation for cryptocurrency services by the FCA. Overall, eToro provides a very user-friendly experience. With a minimum investment of $500, each is themed to provide a particular way of investing in a range of crypto at once. 10 Crypto Smart Portfolios are also on offer.

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With a manageable offering of 81 crypto, it – like eToro – focuses on crypto quality rather than quantity. Watch out, though, for the 5% surcharge on credit card deposits. Bitstamp’s maker/taker fee schedule is not quite as cheap as that offered by Gate (max 0.2%) and Binance (0.1%). But, for beginners who might feel lost in the larger exchanges, this might be a small price to pay. The feel of the platform is accessible and straightforward. When it comes to security, Bitstamp keeps 95% of client assets in cold storage – which is reassuring.

One minor downside is that Bitstamp does not provide a crypto wallet. Huobi is proud of its security record, which has seen zero incidents in 9 years. In operation since 2013, Huobi is based out in Singapore – but welcomes UK crypto investors, making it a leading UK cryptocurrency exchange. It does, though, offer a trading app. On Apple’s App Store, the latter has scored particularly well with 4.7/5 from over 5k reviews. Every 24 hours sees over $4 billion of crypto traded with Houbi. So we may certainly be assured that this is a robust enterprise.