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Cryptocurrencies are attracting more and more attention these days. It is a form of investment that offers high returns, so it is not surprising that there is increased interest. Let’s find out what you need to know about buying cryptocurrency.

Where to buy cryptocurrency?

There are several ways to buy cryptocurrency. There are two aspects to consider when making your choice. One is the cost of buying on the platform and the other is whether you actually own the asset.

Let’s start with the second factor. Recently, a number of financial services providers have added cryptocurrency purchasing to their portfolio. For example, you can buy crypto directly via Revolut or PayPal, but you only buy so-called exposure. In practice, this means that you cannot actively trade the cryptocurrency you receive. 

It is much more advantageous to make the purchase in a place where there are no obstacles to doing so. If we use crypto platforms such as Binance for this purpose, we will actually own the digital gold we acquire. 

Beyond crypto exchanges, there are alternative ways to buy gold. For some, using Crypto ATMs may be a convenient solution. There are also online marketplaces where you can also make a purchase. The latter is a little more complicated, but with a little research it should not be a challenge for anyone.

To buy, you first have to convert your forint into dollars or euros. Even here, the service providers will charge you a fee, and then you have to invest. The larger crypto exchanges tend to use lower fees for ATMs, but often try to make their offers incomparable with other market players. 

IT security is also important

In the past, there have been several cases of fraudulent attempts to steal investors’ assets using various hacking methods. Therefore, only buy from trusted, well-known providers! These companies take extra care to ensure that data is not accessed. For example, they also provide two-factor identification. Remember: if someone has access to your private key, they own your coins! Later, if we want to trade these cryptos, we will also need to choose reliable trading software.

Where do we store our cryptocurrencies after purchase?

Even if we have bought our cryptocurrency on a secure platform, we should protect it from possible attacks and theft attempts afterwards, during storage. We can do this simply on our computer or on a thumb drive, but if we don’t want to trust this part of our wealth to our installed antivirus, we can consider a higher level of security.

That’s what hardware wallets are for. These are not connected to the internet, so you can only access their contents if someone physically gets hold of them. Even then, it is not easy for the thief, because these devices can be protected by a pin code. So only with that knowledge can the contents be accessed. The most common products in this area are Ledger and Trezor. 

Both for purchase and for subsequent storage, it is worth going down the more familiar routes. Lower fees often mean lower quality services. If you want to learn more about the world of cryptocurrencies, we recommend you read our constantly updated blog.

If you want to trade Bitcoins or any altcoins, you can use more than just manual trading. With the help of spot bots you can do it automatically.

Cryptocurrency exchanges are constantly moving

Unlike traditional exchanges, crypto exchanges never stop moving. Trading is continuous 24 hours a day, in every country. This is almost impossible to monitor manually. 

If you don’t want to let go of control, you need to use a well-programmed trading robot. It can help you trade your various investment instruments much faster and more efficiently. It is easy, for example, to become distracted from other activities and not pay enough attention to evaluating market developments. A spot robot gives us the opportunity to trade profitably even if we are not yet experienced enough in this area. 

Of course, there are many different types of trading robots. One of them is the spot bot presented here.

How does a spot bot work?

Like other automated merchant programs, it makes purchases and sales on our behalf. These transactions can be executed either for intraday trading or intraday. We can configure in detail which actions to take for which inputs. You can specify at which exchange rate to initiate sales or at which price to buy. You can even diversify these settings. It is possible to set up any number of trades.

If we program in a set of rules to suit our strategy, the software will trade for us in a fully automated way.

Take care of your money!

When we set up our trading strategy, we also need to decide how much of our invested capital we will make available to our spot bot.

You can also set up a GAP. By using such a GAP, we can determine which exchange rate frame we do not want to participate in. And that’s not all! 

By setting limits, we can add another layer of protection to our trading. We can set them at a rate level that suits us according to our risk tolerance level. We can limit our purchases with them, but unlike stop loss trades, we do not give them a specific transaction instruction. The system will not sell or buy when the limit is reached.

Other functions

The trading software also gives us the option to enable trailing up and trailing down functions. These will help us to follow the different price movements on the stock exchange. In addition, we do not need to check this data manually, as the system works automatically here too. If you want, you can turn them on yourself.

Passive trading

Not all traders like frequent sales. Many prefer a buy and hold strategy. In crypto trading, this is also known as the HODL strategy. The spot bot will also help you with this. If you want to make use of it, you just need to set a good buy point in the system and you can make the sales manually.

As you can see, the spot bot makes it much easier and more efficient to execute your trades.

The world of cryptocurrency is very exciting, changing from second to second, which is why without automation, events can become almost impossible to follow. Fortunately, the Spot Grid Bot can help you when you don’t want to be sitting in front of a computer 0-24. Importantly, trading cryptocurrencies is an excellent source of passive income, but it also means that you need to do it without taking too much time out of your life.

In today’s post, we’re going to talk about Spot Grid bots and how we can start a Generator that works and earns us money even when we’re sleeping or working our regular jobs. If you want to get started in crypto trading, don’t miss this article!

Get started with automated trading!

Of course, if you’re completely new to the field, it’s definitely worth trying Demo Trading, where you can take your first steps into the world of crypto trading without any financial risk.

However, to be able to use the platform, it is worth getting to grips with it as much as possible, so you shouldn’t miss out on the settings of the generator function, for example!

Where all the spot grid bots grow…

The Generator will create separate folders within which you will be able to bring multiple Spot Bots to life, as you will specify lanes so that the system knows when to sell and when to buy.

The basic setting is to specify whether you want to sell or buy. You can also set the starting and maximum price levels, i.e. from where and to how far it will generate the levels for you, and it will adjust the profits accordingly. 

You can also specify the quantity quoted, i.e. how much capital you want to put into a position, i.e. how much to buy for per level, and then set the corresponding sell. Here you can still choose whether you want to run the generator in demo or live mode.

In the security settings, you can set the value of how much of your capital the entire folder can use, and you can also track the increase or decrease of the price. To do this, the system can generate the zones automatically. It also includes a stop loss, which can be fixed or flat, and is used to ensure that you can sell the amount you have bought at the right time. In fact, you can even pause all the boxes and then reactivate them.

This will make a difference if the price goes out and you don’t want to be stuck inside. As soon as the exchange rate recovers, you can re-arm the boxes and everything will go on its way, so technically this is a stop loss from above. 

Of course, the guide can still help you on your way, it’s worth going through the suggestions carefully to find out all the essential information related to the settings.

The summary should not be missed either

Once you’ve completed the entire setup, you’ll find a summary tab where it’s definitely worth taking the time to check that you’ve set everything up as you originally intended.

If you feel you’d like to get started but still have questions, take a look around and you’ll find the answers to all of them, whether in the knowledge base or the FAQ section, or of course you can ask us for a personal consultation!

Whether you bought it or mined it, sooner or later you may feel that the best thing to do is to sell Ethereum. You may have acquired it in the first place to trade it, you may have other reasons for doing so, but if you have, you’ll want to know where, how and when to sell. This article will help you do that.

Selling Ethereum on the crypto exchange

If you have acquired Ethereum (ETH) through a purchase, selling it will be easy as you know the platform to use: the crypto exchanges. These are the best place to sell ETH for beginners and experienced users alike, as the whole process is like buying, but in reverse. You should check the profile of the exchange you choose first! Some are more geared towards handling higher trading volumes, so they are more suitable for large investors and traders.
 
First decide whether you want to exchange your Ethereum for fiat currency or another crypto! You can either announce that you are selling your ETH, or you can look for existing orders. In any case, it’s worth keeping an eye on fluctuating exchange rates.
 
Or you can automate the sale with our spot bot, for example, which makes it really easy to complete the transaction.

Alternative options

You can also exchange, but one of the main difficulties of selling Ethereum is the slow verification process. This is because you have to upload a large amount of documentation and wait for your account to be reviewed. Also, you may not like the fees or taxes charged for an open sale.
 
If you fancy a more informal alternative, you can try your luck on a peer to peer trading platform, which is the fastest way to sell Ethereum. This allows you to sell your ETH on a decentralised platform without intermediaries. As these networks use smart contract technology to execute transactions, it is worth familiarising yourself with this beforehand to better understand the trading process.
 
Either way, before you confirm a transaction on your side, make sure that your partner has the agreed funds and is ready to confirm the transaction. Also, always double check the details, the amount to be sent and the current exchange rate before pressing the button!

Some more tips

When it comes to Ethereum selling tips, it all depends on what your goal is and whether you’re looking for a long or short-term profit.
 
Professional trading requires a high level of crypto knowledge. If you don’t want to dive in that deep, but you don’t want to miss out, choose our software packages that make trading a whole lot easier!
If you use a buy and hold strategy, remember that you don’t have to sell all your tokens. You can wait for the price to skyrocket and sell them in tranches.
Watch the prices by studying the Ethereum related exchange rates!
Monitor all developments related to the platform itself to avoid losses!

We hope that you now have a clear view of Ethereum selling options and after reading our article, you can easily decide which one is best for you. If you have any further questions on this topic, feel free to contact us!