Earning on cryptocurrency is of interest not only to beginners, but also to established businessmen. One of the most profitable ways of earning on cryptocurrency is considered to be exchanging cryptocurrencies. How to earn on cryptocurrency by exchanging it The main principle of earning on cryptocurrency is speculation. Having decided on a cryptocurrency, it is bought at one price and sold when its price rises. When choosing a currency for trading, attention is paid to its volatility. Volatility is the degree of change in a cryptocurrency's rate over a certain period of time. When choosing a currency, you can be guided by the volatility readings for the month. For making forecasts and long-term trading strategies, the volatility for the year will be indicative. To make a profit from trading cryptocurrency, you need a cryptocurrency exchange. It is recommended not to settle on just one, but to choose two or three that you like most. For registering on exchanges, for security purposes, it is advisable to create separate e-mail addresses. This is because many exchanges use two-factor authentication via email. You should not use addresses with your work domain, because when changing jobs you will lose access to your e-mail address. After registering on the chosen exchanges, you should decide whether you need to undergo the identity verification process. In the event that you plan to work with fiat currencies, the verification process is inevitable. Exchanges strictly adhere to KYC (Know Your Client) and AML (Anti Money Laundering) policies, due to which your anonymity will be lost. However, if your plans are exclusively to earn on exchanging cryptocurrency, then you will not need verification. There are several types of earning on cryptocurrency exchanges: trading cryptocurrency; Ordinary speculation on the volatility of a currency. investing; The exchange is used to buy the chosen currency at its minimum price. After this, the funds are withdrawn to a third-party wallet or stored in your wallet on the exchange. arbitrage on a cryptocurrency exchange. The essence of this type of earning is that several platforms are used for trading cryptocurrency. Arbitrage can be: spatial; Spatial arbitrage is buying a currency on one exchange and selling it on another. Often, due to the internal features of a given exchange, the price of the same currency can differ on different exchanges. temporal. With temporal arbitrage, the purchase of currency is carried out on one platform. The profit is conditioned by the fluctuation of the exchange rate over time. What you need to know in order to trade cryptocurrency The minimum knowledge necessary for successful trading on an exchange: The principle of how the exchange works; On all platforms it is practically the same. The differences lie only in such additional features as margin trading, futures trading, etc. Charts; For successful trading on an exchange, you will also need to master trading charts. These charts characterize the situation on the exchange and will allow you to "keep your finger on the pulse". Types of orders; On the exchange there are two types of orders (bids) available: Limit order; This type of order is placed at the price you offer. If a counter bid is found that covers yours, then it will be closed. However, you should pay attention to the fact that this order may be executed only partially. In this case, part of your funds will be blocked and may not be displayed in your wallet. The full amount will be displayed when the order is fully closed or canceled by you. Market order. These orders are executed at the average market price and cannot be canceled. The execution of these orders usually occurs instantly. Cryptocurrency exchange sites The CoinMarketCap resource will help you decide on an exchange. On the site you can view statistics on currencies, trading volume by exchange, and other useful information. The exchanges with the largest trading volume, according to CoinMarketCap: Binance OKEx DigiFinex ZB.COM Bit-Z The best cryptocurrency exchange is available precisely on such giants, since they support a large number of different tokens. The Cointelegraph resource can also be useful, but unfortunately it does not yet have a Ukrainian localization. Conclusion Cryptocurrency is a promising area for earning. Before starting to trade, you need to set for yourself a limit amount that you are willing to lose in trading. Risk is a noble cause, however you should not invest your last money in trading.

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