Exness India
- Cryptocurrency trading
- Cryptocurrency trading
- Exness offers access to the cryptocurrency market. Join Exness broker today to enjoy our high level of security and reliability in cryptocurrency trading and using our platform and instruments.
- Read this page about cryptocurrencies, enrich knowledge and your portfolio.
What is a Cryptocurrency?
A cryptocurrency is a type of digital money that's protected by cryptography, making it very hard to fake or spend more than once. Most cryptocurrencies operate on decentralized networks that use blockchain technology, which is like a digital ledger kept by many computers across the world.
One key thing about cryptocurrencies is that they're not controlled by any government or central authority, which means they're supposed to be resistant to government control or influence.
One key thing about cryptocurrencies is that they're not controlled by any government or central authority, which means they're supposed to be resistant to government control or influence.
Cryptocurrencies live on the internet. Each one has its own special features. Some are part of big networks called blockchains, some focus on security, and some of them are just popular. The cryptocurrency market is the highest risk and highest reward market. You can see profits such as %1000 - 1500 whereas it is possible to see losses %80 in a short time period.. The most important cryptocurrency, also the first coin ever, is Bitcoin (BTC), which is now (04-07-2024) 57,556.90 US dollars. The total value of Bitcoin is 1,134,200,818,314 US dollars. Cryptocurrency is not just an investment or trading market but it is a huge industry working with all modern fields nowadays (such as AI, Security, Marketing, IT, Finance, Development)
To understand the terminology: all other cryptocurrencies are called altcoins, which means they are not Bitcoin.
What is cryptocurrency trading?
To answer this question, Let's talk about what is trading shortly: the act or practice of buying and selling something. This means just like we have Forex or stocks trading, we can perform cryptocurrency trading such as: Buying one coin waiting for its price to increase then selling it with profit.
It is also possible to have a combination of trades such as: Bitcoin vs your local currency prices or Bitcoin vs Gold (XAU) in Exness.
It is also possible to have a combination of trades such as: Bitcoin vs your local currency prices or Bitcoin vs Gold (XAU) in Exness.
Explanation of what cryptocurrency trading is and how it works.
Cryptocurrency trading is quite the same as other markets. First you must deposit money from your bank account, then transfer to your Exness account. Then you can choose and buy cryptocurrency. Remember: Choosing when and which coin will impact your profit a lot!
Lets have an example: In the middle of October 2023, 1 BTC was worth 26000 US dollars. In the middle of May 2024 ( after 6 months of waiting) 1 BTC was worth 73000 Us dollars. This means we had a%280 profit. You will less likely observe such an amount of profit in commodities or forex in the six months time period.
As a result, If we buy 0.1 BTC in October 2023, in six months we would still have 0.1 BTC but with the amount of 7280 ( 4680 Net profit) US dollars.
Lets have an example: In the middle of October 2023, 1 BTC was worth 26000 US dollars. In the middle of May 2024 ( after 6 months of waiting) 1 BTC was worth 73000 Us dollars. This means we had a%280 profit. You will less likely observe such an amount of profit in commodities or forex in the six months time period.
As a result, If we buy 0.1 BTC in October 2023, in six months we would still have 0.1 BTC but with the amount of 7280 ( 4680 Net profit) US dollars.
Reasons for the Popularity of Cryptocurrencies and Cryptocurrency Trading
Obviously this is the market where you can be very successful or fail hard. Why so popular? Because in forex trading for example, it's unlikely to see %300 profit in 1 month. Well or %90 loss.
It is also easy to buy and sell coins as long as it is available in the broker’s market.
It is also easy to buy and sell coins as long as it is available in the broker’s market.
Why should you choose Exness for Cryptocurrency Trading?
The Exness platform offers many features to simplify trading, including three main cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). You can use all the trading tools available in the Exness terminal to analyze cryptocurrency trends and markets.
Main instruments available in terminal are:
Main instruments available in terminal are:
- Take Profit (TP)A condition that checks, whether price is at the level or higher that you decided
- Stop Loss (SL)A similar condition to Take profit, it is linked to buy order, if price decreases to a determined position,
you close the order to not lose more money. - Buystop OrderIf something were to happen, then enter the market. If the price reaches the green line, then I want to buy it.
This is a pending order - SellStopWe expect the market to go down and then keep going down by limit.
- Buy LimitWe expect the market to go down first a little bit and then go up and sell it.
- Sell LimitWe expect the market to go up and then go down.
Exness also has unique cryptocurrency pairs those are:
- BTC / XAU (Gold)
- BTC / XAG (Silver)
- BTC / USD (US dollars)
- BTC / CNH (Offshore Chinese Renminbi)
- BTC / JPY (Japanese Yen)
- BTC / ZAR (South African Rand).
- BTC / THB (Thai Baht)
Exness also has an interface for sending or receiving Bitcoin (BTC) or Tether (USDT).
In addition to those described above, it is possible to trade such:
BTC/AUD (Australian dollar)
ETH/USD (US dollar)
LTC/USD (US dollars)
A note: Deposit means you put money, withdraw means you take your money. For example: You buy 1000 US dollars worth of Bitcoin today (deposit). In 1 month the BTC price has increased %25. So you decided to sell and take your money back to your bank account for personal use (this is withdrawal).
In addition to those described above, it is possible to trade such:
BTC/AUD (Australian dollar)
ETH/USD (US dollar)
LTC/USD (US dollars)
A note: Deposit means you put money, withdraw means you take your money. For example: You buy 1000 US dollars worth of Bitcoin today (deposit). In 1 month the BTC price has increased %25. So you decided to sell and take your money back to your bank account for personal use (this is withdrawal).
Strategies and Analysis for Trading Cryptocurrencies using Exness
Cryptocurrency types
- Coins:(that have a network) Examples: Ethereum (ETH), Solana (SOL), Tron (TRX).
- Tokens:( works under a network) For example: Raydium in Solana Network
- Meme coins:These are the tokens that are created for fun without a white paper or a specific purpose. For example: In a fictional world; I decided to create a token representing raccoons and name it: Raccoin (RCN). There are strong meme coins with billion dollar cap such as: Book of Meme (BOME) or Shiba Inu (SHIB).
- Stablecoins:This is an interesting and special situation where in the cryptocurrency market there are coins that are always 1 US dollar for each. This means 1 USDT is always 1 US dollar and will always be 1 US dollar.
Why is this important? After finishing the trade, you might want to keep your profit stable but still in the cryptocurrency market. USDT can be a safe harbor for traders to wait and reanalyse the market for the next move.
Key Strategies for Cryptocurrency Trading
It is possible to say that cryptocurrencies are the wild world of trading. For example: You bought 1000 dollars worth of Gold as investment without any leverage. In this case your money will grow slowly or you will lose slowly.
However with cryptocurrency if you buy the right coin at the right time, in a day you can see 100%profit easily. Unfortunately you can also buy the wrong coin, or you have the right coin but you buy at the wrong time or sell at the wrong time.
However with cryptocurrency if you buy the right coin at the right time, in a day you can see 100%profit easily. Unfortunately you can also buy the wrong coin, or you have the right coin but you buy at the wrong time or sell at the wrong time.
Here is a very life saving trick for you: Exness has the strongest and reliable set of cryptocurrencies. Exness does not allow unreliableness in its market therefore you can invest 1000 US dollars and consider this money gone until you see 50% profit at least. ( use buy + sell order in Exness terminal). If you are new to cyrpto market and if you try to trade frequently you will most likely lose alot of money why?
Here is why. You are alone a trading warrior versus institutions and big companies also trying to earn profit using cryptocurrencies. They have teams of people who are checking all the work. If you are really experienced in this field, you go for it. For the beginning it's better to be patient and invest for the long term. Check BTC performance for the long term. It is indeed possible to earn money with patience.
Here is why. You are alone a trading warrior versus institutions and big companies also trying to earn profit using cryptocurrencies. They have teams of people who are checking all the work. If you are really experienced in this field, you go for it. For the beginning it's better to be patient and invest for the long term. Check BTC performance for the long term. It is indeed possible to earn money with patience.
Cryptocurrency Definition
Cryptocurrency is a digital payment system that doesn't need banks to verify transactions. It's a peer-to-peer system that allows anyone to send and receive payments. Unlike physical money, cryptocurrency exists only as digital entries in an online database. When you transfer cryptocurrency, the transaction is recorded in a public ledger and stored in digital wallets. Cryptocurrency gets its name from using encryption to verify transactions, involving advanced coding for security. The first cryptocurrency, Bitcoin, was created in 2009 and is still the most well-known. Many people are interested in cryptocurrencies for trading and making a profit, often driving prices up or down.
General Recommendations
Money transfer
One important aspect is not only that we can trade or invest but we can also easily transfer money using cryptocurrency. For example I can send 1 bitcoin or ( any amount I want) to another user. This is a great opportunity for sending / receiving money in seconds with very low transaction fees. (Ethereum has higher transaction fees unfortunately, Litecoin has lower)
A single disadvantage of this system: You can't make mistakes. There will be an address of your crypto wallet for each cryptocurrency. Your wallet for Ethereum has a completely different address number than your wallet for Litecoin or for BTC. When you are about to send your money to another address, or when you are receiving money, make 1000% sure that address is correct.
-Easy way to do it: check the first 5 and last 5 characters of the address of the wallet.
A single disadvantage of this system: You can't make mistakes. There will be an address of your crypto wallet for each cryptocurrency. Your wallet for Ethereum has a completely different address number than your wallet for Litecoin or for BTC. When you are about to send your money to another address, or when you are receiving money, make 1000% sure that address is correct.
-Easy way to do it: check the first 5 and last 5 characters of the address of the wallet.
Things to do for trading
When you choose a coin or token or memecoin:
- always check their official website. Check all the sections, information and menu. Make sure that their website is working and healthy.
- Make sure that they have social media such as: Telegram channel, discord maybe linkedin, facebook etc. Check all of them.
- Always check the official websites to understand the prices.
- Is there a white paper for this coin? If yes it shows that it is a legit project. Keep in mind that there are many tokens without white paper that have given lots of profit.
- Sentiment analysis is very important in cryptocurrency, the market can make psychological decisions. Be aware of them.
- Always DYOR ( do your own research)
- You might buy the coin and the price of the coin can go down. Do not panic dont panic-sell, it will only make you lose money.
- It is important to not get excited by a surge (Fear of Missing out) the price surges can be tricky
Things to avoid for trading
It is better to fail using your own decision than someone else’s. Many of the resources on the internet are not true misleading. MAke your own decision without them.
Recommendations
- Regularly reading global news will improve your knowledge about what is happening in the world. Important activities such as FED decisions affect cryptocurrency markets directly. When there are global events such as wars, or chaotic situations, the crypto market will be affected directly.
- There are big players ( companies or rich people) who can change the market completely. Remember Elon Musk’s speech years ago and see how it changed the Bitcoin or dogecoin price. Or Sam Bankman-Fried talking about Solana ( end of 2023), triggering a %1000 surge in six months.
- Sometimes it is still okay to buy when it's at an All time high(ATH) if you believe the surge will continue.
- It is a general strategy to buy when it is low and sell when it is high. This means you bought an X coin when it was 100 dollars and the price is now 80. You can buy more and wait for an increase.
- Solid strategy: When there are no market popularities, or when the market is down, you can buy it and wait for a long term.
Remember: These strategies might help you or might not. These are example approaches of trading strategies but not direct recommendations. Make your final decision by yourself.
- There are big players ( companies or rich people) who can change the market completely. Remember Elon Musk’s speech years ago and see how it changed the Bitcoin or dogecoin price. Or Sam Bankman-Fried talking about Solana ( end of 2023), triggering a %1000 surge in six months.
- Sometimes it is still okay to buy when it's at an All time high(ATH) if you believe the surge will continue.
- It is a general strategy to buy when it is low and sell when it is high. This means you bought an X coin when it was 100 dollars and the price is now 80. You can buy more and wait for an increase.
- Solid strategy: When there are no market popularities, or when the market is down, you can buy it and wait for a long term.
Remember: These strategies might help you or might not. These are example approaches of trading strategies but not direct recommendations. Make your final decision by yourself.
Frequently Asked Questions (FAQ)
1) Are there specific hours for cryptocurrency trading in Exness?
No, they work non-stop. No time restrictions.
2) What happens if I make a mistake with the wallet address?
Unfortunately no, it's irreversible, please be very careful when you send / receive cryptocurrencies using your digital wallet.
3) Can I transfer money with Exness cryptocurrencies?
Yes, you can transfer Bitcoin, Ethereum, Tether(USDT) with ERC20 Network or TRC20 Network and USDC. Keep in mind that USDT with TRC20 will be cheaper.
