How to make money by trading cryptocurrency كيف تكسب المال من تداول العملات الرقمية
Would you like to start trading cryptocurrency but you don't know how and where to start today i will teach you how to do it in easy way subscribe the channel and lets start by name of Allah Peace of god and mercy, I am Mohammed Alhaj Before i start You should have watched the previous video, in which I spoke about important matters in cryptocurrency trading Otherwise, some questions may pop up to your mind am i suppose to know the technical analysis to success in cryptocurrency trading the answer it no But you follow people doing technical analysis And follow-up news about cryptocurrency will help you to take the decision anther question, is the English language is mandatory to be able to trade cryptocurrency the answer is no for two reasons first, most of platforms support multi language including Arabic where i dont always prefer the Arabic interface because of some words that are translated oddly and even if the interface in English language its only few words you will now its meaning, then it will be easy for you to start trading is there a minimum balance to start cryptocurrency trading It is preferable to start with a small amount to help you understand and learn to trade now lets start and see how i trade the cryptocurrency to start, im suppose to sign up with one of cryptocurrency platforms (exchange) i explained in the previous video that there are so many platforms but always choose the best There are several sites that can show you the result of the platform you wish to register on for example, we have CoinMarketCap website which show you the best of those platforms as we can see, Binance is the top one with score 9.6 this score depending on daily trading volume, number of daily visitor and number or available currencies see the second place is coinbase pro has 8.8 score which is big difference with Binance in volume, number of visits and available coins one of other important criteria which is not mentioned here low of technical faults Many platforms experience these faults which cause losses for traders But Binance is characterized by fewer faults and that is why i always advise Binance in case if you decide to register in Binance Binance available on computer in browser and as computer application and as mobile application today i will explain it in the browser and when you know the available options it will be easy for you to apply it in other devices and also it will be easy for you to use the other platforms because all platforms have same options when you open it for the first time, it will ask you to register where it need your personal email and password and then it will ask for your mobile number and make sure to choose strong password and save the information in safe place after registering, you will login, and this is my personal account you can change the language to Arabic or any other language but i will keep the English language there is important question how to deposit cash in to the platform and how to withdraw the cash there are many options for the deposit one of it, using the debit or credit card where Binance charge you 2% for using it in case if you used the credit card, the bank will add extra charges because the bank consider it as cash withdrawal from credit card and by using the card, the money will be credited direct in your Binance account the second way is to make bank transfer from your bank account to Binance account where its fees is less, but it need days to credit the money to your account in Binance the third way, what it called P2P, where you buy the currency from another person by depositing the amount to this person bank account then the currency will be transferred to you Binance play role as intermediary in the exchange process So that it guarantees that neither the seller nor the buyer will be deceived moreover any person from any place in the world can transfer currency to you by using the currency code where we will see it while trading As for withdrawing money from the platform either by P2P where it make the cash withdrawal easy or there is another way used much in Gulf which is to register in Rain platform then transfer the currency from Binance to Rain then transfer the money from Rain to your bank account where it will take few days and that is why its good to have many users in different platforms to get the advantages from each of them and there are some of the deposit or withdrawal options that not available in all countries or all currencies and that is why i said at the beginning to start the trading with small amount to know what are the available options for you and help you to take the decision after registering and signing in, this screen showing the deposit options buy click on buy crypto which shows the debit or credit car, P2P and the third party payment which is by other channel and here the currency that i can use for the deposit so here when i changed the currency to USD, it showed me another option which is bank deposit which is transferring through the bank so when i click it, you can choose the amount it will show you the instructions that you should follow when you do the transfer and it will show you the beneficiary details and the reference number that you should mention when you do the transfer the other option is by the card as you can see here the details of the card that i used earlier for the deposit when i deposit the money, lets say $100 there is important thing you should know in trading the crypto now i can deposit the $100 direct to any crypto currency such as Bitcoin but lets say i didn't decide yet which currency I'm going to buy Or the market was fluctuating and I would like to know the direction of the market to rise or fall and i transferred some amount to the platform what i can do to make sure this amount i transferred it will not be affected with the market fluctuation because of this issue Stable coin were invented which are crypto currency such as USDT & BUSD and those currencies linked with fiat currency so its value always equal to USD in this case, when i deposit money to the platform, i can transfer the money to USDT then i can decide the crypto currency that i want to buy because no matter if the crypto currencies value increased or decreased, my money will be same amount if its in stable coin when i start to buy and sell crypto, i can switch between the currencies direct without intermediary like if for example i have BTC and i decide to buy ETH in this case i can choose to buy ETH from BTC or i can transfer the BTC to USDT then i decide to buy the ETH or any other crypto currency but you should know that there is always fees when you buy or sell and in case you have BNB currency which is the currency related to Binance you will get 25% discount on buy or sell fees now i transferred money, lets say $100 to BTC or USDT or BUSD so this money now available in my wallet as we mentioned, i can also use P2P and to explain this option, it need another video after we finish the fist step which is to buy the crypto or transfer the money to the platform i go direct to wallet which shows the money i transferred to the platform and the currencies that i own i go direct to Fiat & Spot, and as what we see this is the currencies that i currently own and this is its value in USD i can hide or show the balances from here i can directly buy the currency that i wish to buy by choosing the amount then it will be added to this currency or by deposit, for example if i choose the Bitcoin, it will show the code related to the BTC which if i give it to anyone, he can directly transfer from his BTC to my BTC where the transferred amount will be immediately shown in my account each currency has its unique code here withdrawal option, where personally i didn't try this option through Binance So I will not go into detail trade, which is exchange the currency which we will explain it in more details in trade page lts say i deposit amount in BNB then i decided to sell the BNB and buy another currency i go direct to trade which shows the options covert, which is transferring from currency to another currency buy i don't advise to use it because its high fees and better to go for classic or advanced and advanced is more preferable where most of traders use it to buy or sell now i chose the advanced and this is the trading page for the first time when you open this page, you may feel shocked and many people will think its complicated but when you understand the available options, where its not necessary to know all those options but the important options for you, then it will be more easy for you to start, at the beginning you should choose the currency that you want to buy or sell as what you saw in my wallet, i have BNB lets say i want to sell some of my BNB, so i have to choose either to replace it with stable coin such as USDT or BUSD or if i want to buy directly another crypto currency lets assume that i want to sell BNB against the BTC you can see here this option, to sell BNB and get BTC the shortcuts for the currencies will be more clear for you when you start to trade we mentioned earlier that the number of cryptocurrencies is to high and in Binance there is 340 coin available for trade where there is thousands of crypto coins but it not all available for trade thus, i have here 340 available in Binance but i don't have to know it all, and usually each person interested in a specific set of currencies may be 10 or more or less and he will know its shortcuts i decided to sell some of my BNB against USDT this is the selling and buying prices this option is buy BNB but in my case, i will not buy, i will sell from my BNB focus with me on the options involved in buying and selling because it is important to know them well and if you understand it, it will be easy for you to trade because there are very important options that will help you get profits and avoid losses now, i sell option, i have different method limit, which means, what is the current price, i will sell on a specific price the current price is $279.5 so i can choose
to sell for $280 or $290 or $300 hoping the price will be increased and i sell in this price or if i want it quickly, i choose best of those prices or i choose Market price in market, it will sell immediately for best available price, and it will not wait where limit will wait for the price i choose then it will execute i choose the amount of BNB i want to sell, or i choose from here either a quarter, half, or all here will show all BNB i have which equal $5000 or i can choose the amount i want to sell in USD, lets say i want to sell what equivalent to $100 where it showed me how much it equivalent in BNB this in case if i sell for the price of 300 then i press sell, and i can see down the selling order but its pending once the BNB reach 300, the order will be executed lets say im in hurry and i dont want to wait, i go to market, i choose the amount here i will sell equivalent to $10 on market price see, when i press sell, i will not see the order in pending list, because its immediately executed if i go to trade history, i will show the order, it has been executed for the price of 279.5 which was the best available price open orders, shows the pending orders and i can cancel it, and history shows last transaction in day, week, month or the date i choose this is sell buy is the same i choose the price i want lets say 250, and once the price decreased to 250, it will buy so the order will be in open orders till it executed i choose the price i wish to buy for, then the amount then i press buy and only will be executed if it reach this price or i choose the best price and buy for the best available price or market, where immediately will be executed for the best available price now i will explain very important options in trade which are stop limit and OCO for stop limit, i will not be all the time watching the market for me the BNB price currently is 280 but i expect it will be increased but at the same time, im afraid it will be decreased and if it decreased, i don't want to loose much, so i can give order, if the price decreased to 260 immediately execute the selling order for the price i assign, and usually i choose lower price because if I choose the same price at which the order is activated, it is possible that the price has become lower and then I will not succeed in selling the currency so usually i give the price i want to sell for, and the quantity of the currency In this case, I give this order to be executed in case the price goes down, and in this case I will be satisfied with this current loss, rather than not give this order and then the price is lowered to a lower level such as $100 in this case, this is the price that i will get and that is why the stop limit one of the most important options in trading cryptocurrency the other option which is OCO which is in case if the price of the currency increased to a level i expect i will be satisfied with this level because after this level, the price might decreased again at the same time, i want to be sure if the price didn't go up and it decreased, to sell at a specific limit in simple explanation, im currently in a specific level, the current price is 280 i will give order, if the price increase to 300, sell, i will in profit and happy at the same time, if the price decrease to 260, sell for 258 because i don't want to lose more and i choose the quantity i want quarter, half, or full in this case, see what happen when i press sell it shows 2 orders pending, selling for price 300 and selling for priced 258 if the price decreased to 260 In this way, I will be satisfied with the level of loss that I have reached, instead of not giving the order and the loss is greater
2021-03-21 11:30
