BTC calculator:

BTC = EXCHANGE

BTC price:

1 BTC = 7169.09000 USD
1 BTC = 6583.38000 EUR
1 BTC = 159.970000 LTC
1 BTC = 43.0800000 ETH
1 BTC = 781133.2000 JPY
1 BTC = 5821.12000 GBP
1 BTC = 7035.39000 CHF
1 BTC = 11647.1000 AUD
1 BTC = 10072.3000 CAD
Powered by Crytptocurrency All-in-One Data by CryptoCompare API
tips for crypto exchange

Useful Tips for Exchanging Crypto Efficiently

Exchanging cryptocurrencies gets more complex when it comes to investing longer-term in particular tokens. Things are simple if you just want to use crypto in order to buy something, but when it comes to aiming for returns, there are a few things that beginners must take into account. If you’ve already learned how to choose a crypto exchange platform, it’s time to see how to exchange crypto in order to HODL.

#1 Weak vs. strong cryptocurrency

One of the most basic things people should focus on is finding strong cryptocurrencies and then exchange them against weak ones. For the past year, large-cap tokens like Bitcoin, Ether, Litecoin, Bitcoin Cash or XRP had proved to be the most active cryptocurrencies. Investing opportunities with a time horizon from a few days to a few months had arisen and since these tokens consolidated their leading position, exchanging small tokens with them would have been the best approach.

#2 Technical analysis

In order to find the optional price for exchanging a cryptocurrency, one should know some basic technical analysis. Although the sector is complex and could involve plenty of price indicators (moving averages, oscillators, etc.) the main goal of technical analysis is to spot demand (support) or supply (resistance) zones.

By doing so, you’ll be able to find areas on the charts where market participants had placed orders in the past. “History repeats itself” is the mantra of technical analysis and sometimes it really does. Look for price areas where strong moves had started in the past. It is very likely that if the price gets to that point again, there will be plenty of market participants placing orders again.

#3 Fundamentals matter in the long run

If your goal is to exchange cryptocurrencies in order to HODL for a long period of time, then fundamentals will most likely matter. Why is a particular cryptocurrency special? It is possible to see a wider adoption in the next few years? What are the reasons why the value of a cryptocurrency can rise or fall? Without concrete answers to these questions, you will be like a blind man walking on the street.

The bottom line is to focus on projects or cryptocurrencies that have a high potential for the future and stick with them, even though in the short run they’ll have to face some serious challenges. Thus far, tokens like Bitcoin, Ether, or Litecoin, had proven to be impressive investments for those who bought a few years ago. It is possible that their ascendency could continue or that other new and innovative projects will be launched.

Leave a comment