Cryptocurrency Trading for Beginners

Before you select a broker and try out various exchange/ trading platforms, there are a few forthright things to get your cranium around first. Understanding and tolerant of these three things will give you the best chance of succeeding when you step into the cryptocurrency trading field.

Find out what’s growing – Bitcoin, Ethereum and Litecoin top the list for tradability and ease of use. However, there are also Zcash, Das, Ripple, Monero and several more to keep an eye on. Do your homework and find out what’s on the up and focus your attention there.

Embrace volatility – Cryptocurrencies are superbly volatile. The price of Bitcoin, for example, went from $3,000 down to $2,000 and then leapt up to nearly $5,000, all in three months in 2017. While this means risk is high, it also means the potential for profit is great too. It’s always sensible to check the volatility of the exchange you decide to go with.

Understand blockchain – You don’t need to understand the technical complexities, but a basic understanding will help you respond to news and announcements that may help you predict future price movements. It is principally an incessantly growing list of secure records (blocks). Cryptography safeguards the interactions and then stores them publicly. They aid as a public ledger, cutting out mediators such as banks.

These are all the points that you need to know if you are just beginning cryptocurrency trading with your XcelToken Plus.

XcelToken Plus is an ERC20 token on the Ethereum Blockchain Platform that is fashioned to build, involve and foster a large crypto-community within the hospitality, retail and gaming sectors. XcelLab is delighted to announce that XcelToken Plus will now be available for trading on 14 perfect cryptocurrency trading platforms

Fiat to Crypto Trading

If you have some money that you want to invest. The portals which connect our world to the crypto-worlds are called “exchanges.” There are a lot of exchanges out there, however, before you choose to capitalize in one, there are few things you need to look out for. Follow this crypto trading platform:

Validity: Beforehand you even do everything, first make sure that the exchange is available in your area. Eg. CoinGeo, one of the exchanges, is not available in India and Indonesia. So beforehand you do anything please check this.

Reputation: Next thing that you need to check is the reputation of the exchange. Are people happy with their services? Has it been hacked recently? How secure is it? Have people complained about it? Twitter and Reddit are good sources for checking this.

Exchange Rates: Up next we have the exchange prices. Different exchanges have their own exchange prices, that may vary. Do your research on 3 or 4 exchanges and their prices.

Safety: Always select exchanges which need some sort of ID proof from you. Even though they may take time, they are effortlessly 100 times more safe and secure than anonymous exchanges. At the end of the day, it is your hard-earned money. You must take that extra step to keep it secure.

Pros of Investing in cryptocurrencies

Whether you have an important amount of investment or a little bit of extra cash, cryptocurrency is an investment value looking into. Here are a few of the pros of investing in cryptocurrencies ICO:

Pro No. 1: Massive potential for returns.

One of the data that makes everyone deliberate investing in cryptocurrency is that $1,000 invested in Bitcoin in 2013 would be worth over $400,000 today. Current ICOs have created an amount of enormous returns in a short amount of time.

Pro No. 2: Shorter time horizon.

Since cryptocurrencies are network-based and Datum has previously received a upsurge of support, stakeholders know it is prospectively that they can begin cashing out their assets comparatively quickly.

Pro No. 3: Increased liquidity.

If a cryptocurrency ICO is able to construct a solid adequate network, such as the 56,000-member Datum network, investors instantly have much more liquidity and can trade their cryptocurrency for ether or dollars almost immediately.

Pro No. 4: Clear direction for execution.

With a cryptocurrency ICO, when you capitalize you know precisely what the network does and will be doing. As such, you are able to more precisely assess the product–market fit for the platform, and can use that insight to regulate your investment.

Pro No. 5: If you invest in a utility token like XcelToken Plus, then you can use it to make everyday transactions. XcelToken is adopted into usage on XcelTrip– an online travel booking platform where you can check-in at over 800,000 hotels and book tickets with over 400 airlines, XcelPay– a merchant POS and digital payment wallet through which you can now recharge your phones with 900 different carrier services and in 160 countries, with cryptocurrency.

If these pros of investing in cryptocurrencies has swayed you into investing in crypto assets then invest in XcelToken Plus which allows do more than trade.

XcelToken Plus Utility Token Adoption

XcelToken Plus, a one of a kind utility tokens, aside from its tradability, is now adopted into usage on platforms such as:

XcelTrip– An online travel booking platform based on the blockchain technology, aims to disrupt the ever-growing trillion-dollar travel industry, through challenging the monopoly of the ecosystem by giving the power back to the users. XcelTrip, allows travellers to check-in at over 800,000 hotels and book tickets with over 400 airlines. XcelTrip makes sure to give the power of bookings and anonymity to the consumer, since the platform runs on the blockchain system, the consumer is exempt from paying extra credit card charges and other miscellaneous expenditures.

On this decentralised travel platform, aside from XcelToken Plus, crypto-travellers can also use Ethereum, Bitcoin, Binance coin to book airline tickets and hotels.

Crypto-travellers around the world can either log on to XcelTrip.com or download the XcelTrip app, available on both android and IOS, to book their travels, with amazing cashback offers that run all throughout the year and for those travellers who contribute content and inventory there is a proposition that allows them to earn XcelToken Plus on the XcelTrip platform.

XcelPay– A merchant POS, digital payment wallet and crypto payment gateway. XcelPay is integrated into an easy to use, crypto wallet that is enabled for both mobile and tablet use, makes sure that sending and receiving payments in crypto is a secure process.

XcelPay aims to cut out unwanted middle men, bank/card transaction fees, currency conversion fees that produce a damaging effect on the retailer’s and consumer’s margins, making this a shopaholic’s ultimate companion.

Through XcelPay, the users can now top up their mobile phone plans with 900 different carrier services and in 160 countries, with Ethereum and XcelToken Plus.

XcelToken Plus is also a referred token on Bitnare a social media platform that allows for the people of the crypto-community to network with each other within the community on a higher level. XcelGames where the player can collect coins on the game and convert them into XcelToken Plus. The app is available for both IOS and Android devices.

Hop on to any of these sites or apps to start using your XcelToken Plus and reap the benefits of utility token adoption system, aiding the process of making cryptocurrencies mainstream.

General Trading Strategies For XcelToken!

One of the best ways to method the trading world is with an open mind, just like anything new that you want to learn. Get your loofa ready and absorb the following general trading strategies listed below:

Long/Short – These are basic verbiages that are being used in the trading world. When a trader is in a “Long” trade this means that they have bought something and are eager that the price will go up to make a profit. On the other hand, when a trader is doing “Short” trades this means that the trader sells what they have in hand.

Pairs Trade – Taking the idea of long/short trading and making a profit on whether the price goes up or down. This obvious strategy was not realized until the 80’s by people that love numbers.

Swing Trading Strategy – Swing trading is somewhere in the middle of Day Trading and Trend Trading. This is because Day Trading is holding an asset from a couple of seconds to a few hours but never more than a day. Trend Trading, on the other hand, is when the trader looks for a longer timetable and keeps the asset amid weeks to months. Swing day traders hold an asset for a pair of days up to a few weeks.

Scalping – A trading style (not selling tickets for a higher price) that is the most active one to date. This is because a trader that follows scalping takes advantage of smaller gains but on a larger scale. Multiple entries and exits will pile up and make a hefty sum.

Day Trading – As stated earlier day trading is the buying/selling of assets within the same day.

Trading on the News – Transaction on the news simply or generally means trading in times where something “happens” like a terrorist attack or normal tragedy that forces the asset to plummet.

Use these general trading strategies on any of the 14 platforms that XcelToken Plus is listed on and make the most of your tokens.

XcelToken Plus Trading Strategy Parameters to Keep in Mind

The Ticker name of XcelToken Plus is XLAB

A simple trading strategy contains the following’s parameters:

Risk: how much loss are you going to grip on the trade.
Price: the price at which the trade is going to be implemented.
Quantity: the sum of wealth which will be put in the trade.
Entry trade: based on the stratagem it will perform a buy or sell action at an already defined price.
Exit trade: based on the trade outcome, the strategy decides if it wants to exit that position.

To start building your own strategy it is vital to choose the marketplace you want to trade in. Then, you don’t have to start from zero, you can use a public one based on diverse groupings as trend-following. There are adequate strategies out there. It’s very imperative to enhance the strategy to be reliably profitable on new, unseen data.

XcelToken is adopted into usage on XcelTrip– an online travel reservation platform where you can check-in at over 800,000 hotels and book tickets with over 400 airlines, XcelPay– a merchant POS and digital payment wallet through which you can now recharge your phones with 900 different carrier services and in 160 countries, with cryptocurrency.

Log into one of the 14 Exchanges and start implementing these parameters in your trading strategy with XcelToken Plus (XLAB) now.

XcelToken Plus Trading Strategies

The Ticker name of XcelToken Plus is XLAB

XcelToken Plus trading, offers the investors with undue advantages by providing, full transparency making all transactions available on the public record, an infrastructure that responds to support requests, eliminating unreliable server engines which have drastic negative effects on the market by reducing their accuracy and lastly by eliminating unwanted transactions that could cause a dip in the investor’s pockets. To make the most of XcelToken Plus trading and to understand some of these trading strategies that could potentially earn a profit then keep reading.

As for the XcelToken Plus trading strategies here are a few that an investor could use in their everyday or momentum-based trading process:

When looking for some short-term opportunities or gains from the XcelToken Plus market, then the deal can be made and closed at the end of the day or during it, in lieu of patterns of predictions for the day.
Capitalizing on the momentum or trends that emerge from time to tome and close a deal after the end of the said trend.
Taking advantage on minor price movements and making small amounts of profits instead of waiting for a big breakthrough.
Allowing the trading processes to react to the market environment, this mode of trading is a passive.

Now that you have these trading strategies at your fingertips, log on to one of the many exchange platforms that XcelToken Plus is now listed on and start your cryptocurrency trade in XcelToken Plus!

Trading Tips for XcelToken Plus Cryptocurrency Trade Continued…

The Ticker name of XcelToken Plus is XLAB

Here are some Trading tips that you can follow to make sure you stay ahead of the cryptocurrency trade game:

Tip#9. Diversify, Diversify, and Diversify!

Investments are volatile; even those that seem to offer immeasurable positive returns can disintegrate under certain economic states. Cryptocurrencies are even more erratic.

As much as you can earn profits in thousands in a day or less, the contrary is also true. You can lose it all if you invest in digital assets in a flash of a second. So, the finest way to get past such worries is through diversification.

The price of all other coins are influenced by the value of Bitcoin against USD. When BTC loses worth against the dollar, all other coins see a drop in value and vice versa. From that, you can clearly see that diversifying your investments among numerous other coins may not be adequate to cushion you against bullish markets.

But having a unstable base asset like Bitcoin comes with its trials as you may have observed in the second half of 2018. Bitcoin made a lot of people rich in the shortest time than in the history of any known investment.

And in the midst of all this, the currency managed to grow its marketplace cap by over thirty times more in the past year alone.

There are other equally viable investments that are not as risky as compared to cryptos; these include real estate, mutual funds, stocks, and more.

Tip#10. Super Tip!

This final tip will offer you practical steps to start applying directly in your trading process.

Make use of the goal setting feature by introducing sell orders: Make sure that you set your income targets by placing sell orders in the order books. You never know when your order price will be reached, earning you exactly what you desired. Besides, sell orders attract fewer transaction fees since they are the market “makers”.

Take it easy while trading: They say the best traders mastered the art of preserving their cool even when things seem to be out of hand.

Now that you have these trading tips at your fingertips, log on to one of the many exchange platforms and start your cryptocurrency trade in XcelToken Plus!

MORE Trading Tips for XcelToken Plus Cryptocurrency Trade!

The Ticker name of XcelToken Plus is XLAB

Here are some Trading tips that you can follow to make sure you stay ahead of the game:

Tip#6. Don’t Buy Simply Because the Price is Low

Most beginners make one general mistake: purchasing a coin as it’s price seems to be low or what they consider reasonable. Take, for example, someone who goes for Ripple instead of Ethereum simply because the latter is very inexpensive. The decision to invest in a coin should have very little to do with its affordability, but a lot to do with its marketplace cap.

Just like the conventional stocks are gauged by their market caps, which is evaluated using the formula Current Market Price X Total Number of Outstanding Shares, the same applies to cryptocurrencies.

There is no modification between having a coin valued at $10 per coin with a total amount of 1 million stocks in the marketplace and the same coin being valued at $100 with 100,000 shares in the market. For this purpose, it is more defensible to use a coin’s market cap to choose whether or not to capitalize in it, than using its price. The higher a coin’s market cap, the more appropriate it is for investment.

Tip#7. A Tip About Crowd-Sales/ICOs

During an ICO (Initial Coin Offering), start-ups provide the general public an early chance to capitalize in their idea over a crowded sale. In return, these investors are owed tokens at a lesser price with a potential to sell them at a much higher price when itemized on an exchange platform.

Time has proven that ICOs can quite fruitful with accounts showing that some tokens ended up more than ten times the worth of the expected returns.

The Catch is; ICOs have involved a large number of investors obviously due to their high returns; though, another large amount of ICOs have turned out to be total scams. People have lost millions worth of funds.

There’s a need for one to be more than cautious when looking to invest in any ICO. Knowing when to or not to capitalize in an ICO is not about science; rather, it’s about imbursing close courtesy to those particulars that most people seem to oversee while only focusing on the promised returns.

Conduct a background check on the team behind the project and analyse their aptitude to deliver on their promise. In addition, you should also look at the feasibility of the idea behind the ICO, poke holes in the project’s white paper and seek responses where essential.

That will ensure that no stone is left unturned and, if by the end of it you still have qualms about the venture, you’re better of passing than chance it capitalizing in that ICO.

Tip#8. A Quick One for Altcoin Investors

A lot of Altcoins end up losing price over a period of time, occasionally in an remarkably short period of time. It is, thus, principal to comprehend that whenever you grip an altcoin for the long term, be wary not to hold on to them for too long.

One of the best actions of coins that are flawless for long-term reserves is the daily trading sizes. The complex the daily trading volume, the more appropriate an asset is for long-term investments.

If you’re thinking of going long term with cryptocurrencies, consider participating in some of the following coins: Ethereum (ETH), Factor (FCT), Monero (XRM), and Dash. These have decent trading volumes on various exchanges around the world.

Be sure to also observe the charts of these coins and take note of the numerous value spikes – the patterns can help you know the periods are to sell or buy a coin.

Use these Trading tips on any of the 14 platforms that XcelToken Plus is listed on and make profits now!

More such Trading tips to follow! Keep your eyes peeled !

Trading Tips for XcelToken Plus Cryptocurrency Trade!

The Ticker name of XcelToken Plus is XLAB

Here are some Trading tips that you can follow to make sure you stay ahead of the game:

Tip#1. Have a motive for entering each trade

Now, this may sound palpable but it’s significant for you to have a clear resolve for getting into cryptocurrency trade. Whether your purpose is to day trade or to scalp, you need to have a determination for preliminary to trade cryptos. Trading digital currencies is a zero-sum game; you need to realize that for every win, there is a consistent loss: Someone wins; someone else loses.

The cryptocurrency market is controlled by the large ‘whales’, pretty much like the ones that place thousands of Bitcoins in the market order books. And can you guess what these whales do best? They have patience; they wait for guiltless traders to make a single mistake that lands our money to their hands due to preventable mistakes.

Whether you are a day trader or scalper, sometimes it is better off not acquiring whatsoever on a certain trade than swish your way into losses. From our years of market analysis, we can comfortably tell you that on certain day or periods, you can only stay profitable by keeping off some trades.

Tip#2. Set profit targets and make use of stop losses

If you’ve not heard of the term stop loss in trading. Every trade we get into needs us to know when to get out, whether we’re making a revenue or not. Creating a clear stop loss level can help you cut your losses; a skill that’s very rare in most traders.

Selecting a stop loss is not a casual activity, and possibly the most significant thing to note here is that you shouldn’t be carried away by your sentiments – a great point to set your stop loss is at the cost of your coin. Don’t be avaricious; it’s never a nice colour on anyone!

Tip#3. Welcome to FOMO!

FOMO is fear of missing out. This is one of the most infamous reasons as to why numerous traders fail in the art. From an external point of view, it is never a respectable scene seeing people make enormous profits within minutes from pumped-up coins.

Look out of that moment when the green tapers seem to be high-pitched at you and telling to you to jump in. It is at this point that the whales I mentioned earlier will be smiling and watching you buy the coins they bought earlier at very low prices. These coins typically end up in the hands of small traders and the next thing that happens is for the red candles to start popping up due to an overflow et voila, losses start trickling in.

Tip#4. Manage Your Risks

This is especially true of market profits via cryptocurrency trade. Wise traders never run in the course of massive profits. They would moderately stay put and pucker small but sure revenues from unwavering trades.

Consider capitalizing less of your portfolio in a market that is less liquid. Such high trades require more lenience, while the stop loss and profit bull’s eye points will be allocated further from the purchasing level.

Tip#5. Underlying Assets Create Volatile Market Conditions

The prices of most altcoins depend on the current market price of Bitcoin. It is vigorous to understand that Bitcoin is relation to fiat currencies and is quite unstable.

The meeker version of this is that when the worth of Bitcoin goes up, the value of altcoins goes down and vice versa.

Use these Trading tips on any of the 14 platforms that XcelToken Plus is listed on and make profits now!