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  • Crypto Passive Income Strategy – How to Earn More

    Crypto Passive Income Strategy – How to Earn More

    In this lecture, I will talk about how you can earn passive income from your crypto coins and I will share with you a simple crypto passive income strategy.

    It’s a fact that everyone wants to earn passive income, nobody wants to work 40-50 years. Everyone wants to get retired much faster to enjoy grandchildren (I’m not sure if everyone wants grandchildren actually).

    What is passive income?

    So let’s go to the point, what is passive income? Passive income means that I will relax back and I will scroll all day long on Facebook and the money will just flow in, they will just flow in.

    Unfortunately, before you start earning passive income, you need to do some work done unless your parents did give you 100 Bitcoins as a birthday present.

    And true, crypto is one of the easiest ways nowadays to earn passive income. But of course, you need cryptocurrencies in the wallet, so you can do it easily from the wallet apps right from your phone. So what is passive income? This means that you are getting rewards for an asset that you own.

    Staking Cryptocurrencies on the blockchain

    For example, me recording this video right now won’t bring me any profits unless one day I decide to use YouTube and put ads in front of the video. Maybe by the time you are watching that video, this will happen. So at that moment, I will have passive income from YouTube because I have recorded that video long ago and I own this video.

    And I receive rewards from YouTube because there are ads before the video, during the video, I don’t know maybe it will change with time. Same thing when you build a house or you buy an apartment. At the moment you build it you’re not getting anything. Actually, you’re spending money but when you start lending it to people, then you will get passive income.

    It is the same thing with cryptocurrencies, no matter if you are mining it or you’re buying it from the exchanges. If you stake your cryptocurrencies on the blockchain, you can receive rewards for that.

    So there are 2 options to earn passive income from crypto. One is to stake them, the other option is to lend them. And I’ve recorded many lectures on staking cryptocurrencies, it is possible on different wallets.

    I have many lecture on staking cryptocurrencies
    I have many lecture on staking cryptocurrencies

    I personally like to use Ledger which is a hardware wallet. And, for example, there if I want to stake Tezos, I need to delegate the right to a baker, this is how it’s called in there. And I will put the video below so you can have a look at it.

    Or with simple words, I give my cryptocurrencies to the blockchain to make it more secured, more decentralized to secure the network. And because of that, I receive rewards annually.

    Lending the cryptocurrencies

    The other option to earn passive income from crypto is to lend your cryptocurrencies and this is possible with most of the exchanges nowadays. As well, Crypto.com is the one I like the most because there is the Earn option.

    Crypto.com Earn option

    And there, you can earn passive income for lending almost all the cryptocurrencies that are available.

    For example, with this option on Crypto.com, I earn passive income from crypto coins like Bitcoin and Ethereum. They are is available for stake on the Ledger because it is Proof-of-Work and not Proof-of-Stake. And one interesting thing to mention here is that on Crypto.com you can stake the CRO coin, which is the coin of the exchange for a Visa card.

    Cashback

    So at the current moment, they have different options but if you stake a certain amount of cryptocurrencies, they send you a Visa card. And when you pay after that with this Visa card and you use it everywhere you get cashback.

    This is kind of a passive income again because we are spending daily but while we are spending we get some cashback into our cryptocurrency wallet, which I personally find pretty cool. I will put a link with the Crypto.com staking options, so we both can get a bonus if you decide to use it.

    And I don’t want to go into details about the earnings and the annual rewards on the different exchanges because they change all the time. So before you decide to stake cryptocurrencies or to earn passive income from crypto, make your research. Because by the time you’re reading this lecture, the conditions on the exchanges might be totally different.

    Crypto passive income strategy

    Now, for my passive income strategy, I use the Ledger wallet, which is a hardware wallet and I keep there most of my cryptocurrencies. At the same time, I stake some of the cryptos there and I use Crypto.com for the Earn option where I can earn passive income from all the currencies that are available. Keep in mind that one of the best rewards comes with stable coins such as the USD coin.

    If you want to see my crypto passive income strategy in action, follow me on Patreon and get notified every time I buy, sell or stake. As well you will get access to my cryptocurrency portfolio spreadsheet which you can copy and use for yourself.

    So, with Crypto.com, for example, at the moment the reward I think is 12%. So if I had $100,000 to invest, I’d definitely like to put them into USD coins on Crypto.com and earn 12%. This is $12,000 a year, which makes it $1,000 a month and the good thing is that with time the rewards compound.

    So, for example, if you have $100,000 to stake into USD coin or to earn passive income from Crypto.com, for example, at the end of the year you will have $12,000. Which you can add to a new staking period and from there, you can start a new period and you will be starting with $112,000, and earn another 12% for the year on these 112,000.

    I hope this brings you a realistic idea of how much passive income you can earn from staking crypto.

    Cryptocurrency Staking vs. Real Estate vs. Dividend Strategy

    Now, let’s make some comparisons, Cryptocurrency staking versus real estate versus dividend strategy.

    Passive Income from Cryptocurrency Staking

    So with cryptocurrencies, as I said, you can earn between 5-6 up to 12% on your cryptocurrencies a year. And if we take the example of $100,000, we said that at the end of the year, we can earn $12,000.

    Passive Income from Real Estates

    Now, for example, in my country Bulgaria, if you want to buy apartments in the capital Sofia, for that money, you can buy a one-bedroom apartment. A bedroom and a living room. And if you lend it, then you can earn no more than $300 to $400 maximum a month. Which makes it somewhere around $5,000 a year. So this is 50% less compared to how much you would earn from cryptocurrencies, which makes it about 5% from the initial investment.

    Passive Income from Stock Dividends

    And now if we compare it with the stock dividend strategy, I know many people are using that. Especially in the United States, it’s super popular.

    I really like it, it’s just not my type of investment but if you invest $100,000 into stocks, you need to invest them in stable companies. These are companies that are long-established on the market, they will offer at least 5-6% on annual basis. And at the end of the year, you will still have about $5,000 to $6,000 roughly. But here is the kicker, cryptocurrencies increase their value much more than real estate and stocks.

    Tesla and some other stocks did a fantastic growth in 2020 but they don’t give dividends. So for me personally, having the opportunity to earn between 5% and 12% in crypto staking as a passive income and at the same time having the opportunity to have a fantastic growth by the price increasing in value makes the cryptocurrency the perfect asset for a passive income in the long-term.

    Dollar-Cost Averaging

    When you develop your crypto passive income strategy, Dollar-Cost Averaging is something that you might want to consider.

    Dollar-Cost Averaging is when you buy cryptocurrencies on a regular basis. For example, every first day of the month or every Monday and you buy regularly the same amount.

    And if you don’t have an idea on how to use this strategy to earn passive income in crypto, you can check out some of our trading & investing courses.

    Conclusion

    And I can tell you that I have a lot of students that did that starting back from 2016, 2017, and now in 2021, they have a sustainable amount of cryptocurrencies. But most importantly, they have a better average price when Bitcoin reaches record highs. So Dollar-Cost Averaging strategy is super suitable for beginners and advanced traders.

    I personally buy cryptocurrencies regularly, I aim to buy the dips, but that’s not always possible, of course.

    Thank you guys for reading. I’ll be happy to hear your thoughts about crypto passive income in the comments below. Take care and I will see you in another lecture.

  • Ethereum Classic Price Prediction

    Ethereum Classic Price Prediction

    Ethereum Classic price prediction

    In today’s price prediction article, I’ll be talking about the Ethereum Classic. I will tell you what are the realistic price predictions from that moment after the price did an amazing move from around $30 up to $180 early in May. And I will share with you the recent investment that brought me over 184% of a profit with the Ethereum classic.

    What is Ethereum Classic?

    So for beginner traders and investors, the Ethereum Classic is the continuation of the unaltered history of the original Ethereum chain.

    What is the Ethereum Classic?

    It preserves the principle of Code is Law. And on my Patreon page where I share my investments immediately as soon as I purchase an asset, I give a crypto buy alert, or when I sell, I send a crypto sale alert to my followers.

    Petko's Patreon page
    Check out my Patreon’s page

    You can see that on the 17th of April, I bought 11 Ethereum Classic tokens at the price of $47, and then a little bit later I added another 15. If I have to be precise, that was at the price of $35.10, which gave me an average price of $40.46, a total investment of $1,051. And I have sold it at $115, profit of nearly $2,000 or that was 184.23% as a profit.

    Why Fibonacci for the Ethereum Classic price prediction

    So now I will share with you why I have sold it and I will share with you what are the next realistic price targets. And what is the realistic price prediction for Ethereum Classic that everyone is looking for?

    I’m using the Fibonacci as you already may have seen in some of my other lectures. But for the purpose of this lecture, I will delete everything I have on the chart because I want to make it really simple and clear for you.

    So you will know exactly what I’m looking at and how I succeed in taking such profits in a relatively short time.

    So one more time, if you look at my spreadsheet which you can find on my Patreon’s page, you will see that this was a short-term investment. I have assets with long-term purposes, I have assets that are staking but the Ethereum Classic was with a short-term purpose.

    And about two weeks were needed to get this percentage of 184%. So what do we have over the chart? Back in October, the price was sitting at $4, $5. So if you bought it at that time that would be an amazing investment, if you haven’t, no worries.

    CoinGecko

    The crypto market always brings us new opportunities. So how do I draw these Fibonaccis that show me a realistic Ethereum Classic price prediction? This is what I will show you right now.

    I will grab a Fibonacci. I’m on CoinGecko right now which is a great website, not promoting it or anything. This is where I follow the cryptocurrencies, they have a trading view which makes it super easy for drawing purposes.

    So right now I’m on the daily chart and you can see that back in 2020 in May, July, September, and November, the price was just going sideways. Somewhere in the range between $4 and $8.

    The Ethereum Classic price was going sideways
    The Ethereum Classic price was going sideways

    And then it did the first move in January 2021. So I’m taking the first positive move which is this one over here and I’m drawing a Fibonacci the other way around so from the top to the bottom.

    The first Fibonacci used for our Ethereum Classic price prediction in 2020
    The first Fibonacci

    And if you’re not familiar with Fibonacci, it uses retracement levels of 23.6%, 38.2, 50, and 61.8. And with simple words, when we have a move, after that we can use these levels as retracement levels and we can buy the dips and take a better average price.

    Price Retracement

    But what I’m using with the Fibonaccis are actually the targets. As you can see, on the top of that drawing we have 4 targets. One sits at 161.8, 261.8, 361.8, 423.6. What I’m using is the second target of 261.8. So after the price reaches the target, I’m taking a new Fibonacci, I’m drawing it from the top.

    So the price broke over here this target and when I see the top, I draw a new one going to the lowest point of the retracement. Which, in this case, was that point over here.

    The lowest point of the Ethereum Classic price retracement
    The lowest point of the retracement

    Then we have a new target and in this case, it sits at $40.23 and you can see that it worked really nice. The price reached and then it did a retracement.

    So let’s see, I’m taking a new Fibonacci from the top right over here drawing it to the lowest point. Now, of course, I need to zoom a little bit to see exactly where it is, not making it like 100% but try to make it as close to the level as possible.

    zooming the trading view in CoinGecko
    Make it as close to the level as possible

    And then here is the top and you see that the retracement of 38.2 worked really well.

    Counter-trendline

    And this is the moment where I was purchasing, I used a counter-trendline right over here and I do that on the lower timeframe on the hourly chart.

    the counter-trendline which indicates the moment for purchasing
    I used a counter-trendline

    Let me just do it precisely, here is one and then I took one more aggressive I believe it was that one right over here. So I had 2 entries.

    I had 2 entries

    If I confirm on my Patreon’s spreadsheet, yes, 2 entries.

    And then let’s see where were the new targets. I will not show you what happened after that, I just wanted to show you what I was looking at, $115.85. This was the target and this is why I have sold at $115. Now let’s go slowly and see what the price did, you can see it went sideways, and then boom!

    The price shot up

    Here it is. And at this moment, I saw the Ethereum Classic price reaching $115, it reached it right over here. So I took my profit, 184% is not a bad profit and I don’t regret taking it. Even after that, the price reached $180 almost to the fourth target. But this is exceptional. What I mean is this is rare, such a move is rare.

    The target

    And from my experience, I’m using the second target because it works best for most cases. And the other thing I could have done is probably to wait and see a reversal pattern on the hourly chart like what we have over here with this candlestick. This is a reversal pattern right over here and it’s a great place to take your profit.

    So if I kept it, I would have gained quite more exit at $142 but in this case, I decided to use the second target of the Fibonacci which was at $115. So when I decide that this is my target, doesn’t matter what’s going on, how pumped the price is or is it on all exchanges, a top gainer and everybody’s jumping in.

    I don’t care. If I said that this is my target, then I will take my profit there and I will just sell everything. And if I’m not using the Fibonaccis, I’m usually waiting for a reversal pattern on the hourly chart, it could be a doji, it could be a gravestone doji. I mean there are a lot of reversal patterns, I’m not going to talk about that in this Ethereum Classic price prediciton.

    Current investment

    You can google them so you will see how they look. But simply, they show us when the price might reverse or where is the top but not every time.

    trading reversal patterns
    You can Google the reversal patterns

    It’s not a guarantee that there will be a reversal pattern at all. So this is why I personally prefer to use the second target of Fibonacci. It worked great for me until the moment from 2020, 2021, until now May.

    What is the next target or the next price prediction for Ethereum Classic?

    I’m taking quite nice profits on my investments and I always use the second target on the Fibonacci. And I know you’re waiting for the answer to the question, what is the next target or the next price prediction for Ethereum Classic?

    So what I will do, I will grab a new Fibonacci and this is the new top and I will draw it to the lowest retracement.

    So let me do it precisely, I want to give you a precise number and this will be the one that I’ll be looking for as well.

    I draw it to the lowest retracement

    And I don’t have currently any investments. And I’m just waiting for a bigger retracement over here, I will show you right now what I’m looking at.

    Buying opportunities

    So I want to draw it precisely, yes, here it is, that’s the level. So this is my new Fibonacci and I’ll be super happy buying the Ethereum Classic at this zone. Let me grab a rectangle, for example, and I’ll be super happy buying the Ethereum Classic below the $100 somewhere in this box. Somewhere between the $23.6 and the $38.2 Fibonacci retracement level. So if the price drops over here, I’ll be buying it again.

    And my next target would be $430.85. This is my next target for the Ethereum Classic.

    My desired range

    One more time, I don’t have any at the moment, I have sold them all. I’ll be looking for a bigger retracement down to this box. I always want to buy the dips and sell the record highs.

    And as well, when I was selling at $115 these were new highs. And then I have a new Fibonacci looking for the retracement which is somewhere between $60 and $85. So I’ll be looking for buying opportunities right over here. Of course, if the price drops in there it might never go in there, right? It might just continue higher. Which is fine.

    Taking the profit

    I took my profit, never regret taking your profits. Especially if you do over 100% of a profit, never regret and say, ‘oh why didn’t I wait? The price reached new record highs. I sold it too early.‘ If you did over 100% this is amazing, you have doubled your investment so do not regret it.

    Learn to follow the exact system, exact targets, and this way you will avoid emotions. So at that moment, there were no emotions with me. I saw the target reached, I sold the tokens, and I took my profits and reinvested them into another asset that is already on a profit. So this way, I keep the emotions away, if the target is reached I take the profit.

    If the price drops to these levels I will buy again and I will be looking for my next target. And I will take the profits here even if the price reaches $1,000, after that, I won’t regret because I will still have a great profit. This is the mindset you need to have so you’ll be profitable on the market.

    What is your prediction about Ethereum Classic price?

    If you have any questions let me know in the comments below. Check out one more time my Patreon’s page where I share all my investments when I am buying, when I’m selling, always selling on a profit. If an asset goes on a loss, I’m patient, I buy again at a cheaper price to have a better average price. And at the end of the day, I sell on for a profit.

    Thank you, guys, for reading this Ethereum Classic price prediction. I would be happy to see what is your Ethereum Classic price prediction in the comments below. And I will see you in another lecture.

  • ALGO Coin Price Prediction

    ALGO Coin Price Prediction

    In today’s lecture, I’ll give you a brief idea about Algo coin or Algorand and I will point out the realistic price prediction that I’m targeting at the moment. Moreover, I will share what are the price levels that I’m looking at where I want to buy some more Algo for my cryptocurrency portfolio.

    Today I’ll be talking about my investments in Algo, why I like it a lot, and what is the realistic price prediction that I have for the Algo coin in the period 2021-2025.

    Algo price prediction

    So we you see that on my cryptocurrency spreadsheet I have bought the Algo 2 times, I have totally of 500 coins, and my average cost is at $1.23.

    My Cryptocurrency spreadsheet
    My Cryptocurrency spreadsheet

    So already this asset is on a profit, right now the price sits at $1.3652. But the reason I like Algo is that it is a pure Proof-of-Stake. And as you already may know, the future will be in staking cryptocurrencies, not mining them.

    And recently Bitcoin, Ethereum, dropped a lot after a few negative posts from Elon Musk about how much electricity Bitcoin uses, I’m not going to discuss that at all in this lecture.

    Elon Musk's negative remarks on Ethereum and Bitcoin
    Elon Musk’s negative remarks on Ethereum and Bitcoin

    But in the times when Bitcoin and Ethereum were negative, Cardano was super positive and as well as Algo and some other Proof-of-Stake cryptocurrencies, they just remained positive.

    Algo is a pure Proof-of-Stake

    So Algo is a pure Proof-of-Stake. If I go to their website, right now I’m on CoinGecko which is a great website for analytics but I want to show you their official website at Algorand.com.

    Algorand.com website
    Algorand.com website

    So they have some real-time MainNet Metrics and if I scroll below, you will see that it’s really a professional website.

    And, one more time, I like the idea of Algo because it’s a pure Proof-of-Stake and I already recorded a video about how you can stake Algo.

    Basically, you don’t need to do anything, you just keep it in your wallet and it will bring you passive income. And you will be increasing your Algo coins just by keeping them in your wallet which is fantastic.

    You don’t need to delegate rights to anyone like with the Tezos and the others. All you need to do is just keep them in your wallet. And I keep it on the Ledger and as well you see it supports Ledger. If I go back to my cryptocurrency portfolio spreadsheet you will see that I keep the Algo on Ledger which is a hardware wallet where the cryptocurrencies are stored safely.

    The Ledger

    Make sure to buy Ledger only from the official website if you decide to. And with simple words, the Ledger is known to be one of the safest crypto wallets because it’s a hardware wallet, it’s not connected to the internet so it is very secure.

    So I haven’t checked it recently but I already have above 500 coins because I’ve been staking it and I’m getting rewards from staking the Algo.

    So going back to the chart I want to show you what is the realistic Algo coin price prediction. Actually you can see that on Reddit and on Twitter, they have a pretty decent community. 28.2K members on Reddit and as well on Twitter they have nearly 100,000 followers which is not bad for a coin that sits at about $1.20. So this is my current setup with the Algo.

    Stay with me, if you find it complicated. I will explain it very simple.

    I’m on a daily chart. For the beginners, that means that each candle stick represents one day. So this small red candle stick at the end is the curreny day.

    The small red Candle stick at the end is the current day
    The small red Candle stick at the end is the curreny day

    Now, what I have here is 1 counter-trendline which I have used to buy the Algo.

    A counter-trendline I used to buy the Algo
    A counter-trendline I used to buy the Algo

    And the entry signals for me comes when the price breaks the counter-trendline.

    Using the Fibonacci for Algo coin price prediction

    And I explained this system in my Cryptocurrency Investment Strategy course with details. Here’s a 50% discounted link if you want to learn more about my price action trading with some live examples.

    And as well, what I have here is the Fibonacci. So Fibonacci is one of the best ways to determine targets and realistic price predictions when we have record highs with the coins.

    So we don’t have anything above $2 with the Algo and we cannot say, ‘Alright, the price has reached $3 in the last 6 months, we expect it again to reach there or $4 or $5.‘ We can count the round numbers. But when we don’t have anything above, the best thing is to use Fibonacci. I’ve been using it for over 2 years now and it works great.

    I’ve shown it in many of my videos and right over here you see that this is my last movement. So I draw a Fibonacci from the top going to the lowest retracement from the previous Fibonacci or to the lowest point of the last move. This gives me retracement levels, it has 61.8, 50%, 38.2, these are the most popular ones. So I usually draw a box, this purple box that I have right over here. Which is locked between the 23.6 and the 50.

    The aggressive counter-trendline

    So when the Algo coin price does a retracement as it did right over here, I start to look for buying opportunities. I use counter-trendlines, I use some patterns, but at the current moment, you can see that the price is a little bit higher than this level. And as well, over here we have the $1 which is a round number because it’s the $1 and it always shows support or resistance for these cheap coins.

    I can just go to the settings and I will just make it precisely at $1, here it is.

    I make it precisely at $1

    So you see that the Algo price stopped a few times, failed to close below, failed to close below on the 23rd of April 2021 as well. And if the price does another retracement down to this zone over here, I’ll be happy buying it. I’ll be happy buying it somewhere over here and as well I might look for a break of another counter-trendline.

    In this case, it will be an aggressive counter-trendline right over here.

    So when the Algo coin price does something like that in the next weeks and drops to these levels over here and then it breaks the counter-trendline again, I would be happy to add some more Algo into my portfolio. Just above the $1.

    Check out my Patreon’s page

    If it drops below $1 then I’ll be a little bit skeptical to add more because it will get below $1 and if the price breaks this low, if I put the mouse on this candle stick, you will see that the lowest point is $0.8968. So if the price gets below that level we will have a clear downtrend already on a daily chart and I’ll be just waiting for the new uptrend before I buy any more Algos.

    But ideally, I’ll be looking for such a setup and if the Algo price breaks the counter-trendline right over here, I’ll be happy to buy some more and improve my average price. If I do that, I will let you know on my Patreon’s page. This is where I share my cryptocurrency investments. Simply, I give crypto buy alerts and crypto sale alerts.

    Recently, we had a great profit with Ethereum where I have sold it almost on top of about the $4,000 then I have rebought it cheaper. And simply said, if you want to follow all of my cryptocurrency investments, you can check out my Patreon’s page. And what is the realistic Algo coin price prediction for 2021-2025? It comes with Fibonacci.

    How it has been working for me

    Right over here, this is my last Fibonacci, the price didn’t reach new highs until then. And what are the targets? As you can see above the Fibonacci, we have 4 levels. So the first target is $2.87, the second one is at $4.48, the third one is $6.10, and the fourth one is at $7.10. And the one I’m looking at is the second one $4.48, nearly $4.50.

    our Algo coin price prediction
    I am looking at the 2nd target

    So I’ll be super happy selling the Algo above the $4, somewhere between $4 and $4.50 we’ll see where it will go. But if I have to give you a precise Algo coin price prediction that I’m looking at, this is $4.50. And just below the $5 which we can consider kind of a roundish number which may play the role of our resistance level, then selling it somewhere over here will not be a bad idea.

    And then if the price makes another drop and we have another retracement, I’ll be looking for new buying opportunities.

    So one more time, ideally, if the Algo price reaches this levels I’ll be happy to sell it and take the profits. Then I’ll be looking for new retracements with the Fibonacci, buying it, one more time, using counter-trendlines and the Fib retracements.

    This is what I’ve been following for quite a long time, works great.

    Make use of my cryptocurrency portfolio spreadsheet

    Of course, you need to be patient. And one more time, if you don’t want to do that all by yourself you can follow me on Patreon and I will share with you every time I buy or sell. As well you will get access to my cryptocurrency portfolio spreadsheet which you can copy and use for yourself.

    This is my realistic price prediction for the Algo coin. I don’t want to say it will go to $10, $50, $100 like many other YouTubers do because this will be just a clickbait video, it will not be realistic, it will be misleading. What I use are the Fibonaccis and you can see that it worked very well with the previous Fibonaccis.

    If you have watched some of my other videos and especially the Cryptocurrency Investment Strategy course where I shared live trading and life examples, you know that the second target of Fibonacci works perfectly for Bitcoin and for the other coins.

    And if you have any questions, let me know in the comments below. If you have found the lecture about Algo coin price prediction useful, please share your appreciation in the comments again. I will see you, guys, in another lecture.

  • MetaMask Wallet Tutorial for Beginners

    MetaMask Wallet Tutorial for Beginners

    In this tutorial, I will show you how to download and set up a MetaMask wallet which is super popular if you want to buy, sell, customize, or breed some CryptoKitties, for example.

    Or if you want to play around with NFT platforms, you need a MetaMask wallet. And in this lecture, I will show you how to set up one.

    Table of Contents:

    1. Getting Started
    2. Creating a new wallet
    3. MetaTask funding options
    4. How to fund MetaMask with card
    5. Fund MetaMask from external wallet
    6. Conclusion

    MetaMask Tutorial

    So by using MetaMask, we are usually capable of purchasing NFTs by connecting this wallet to the NFT platforms. Or this is where we will be storing cryptocurrencies such as Ethereum and we will be using this Ethereum to buy NFTs and at the same time after that, we will be storing these NFTs on the MetaMask wallet.

    So this way you are able to buy one NFT from one platform, store it on your MetaMask wallet, and then sell it on another platform. So basically, this way you can transfer NFTs from one place to another. And for the purpose of this MetaMask wallet beginners tutorial, I will download and show you what exactly you need to do.

    Creating a new MetaMask wallet

    Let’s start this tutorial by opening the MetaMask website. I click on the Download button in the top right-hand corner.

    Click on Download then click Install MetaMask for Chrome

    Then I will click on Install MetaMask for Chrome. I will be redirected to the Chrome Web Store, where I need to click on the Add to Chrome button.

    adding MetaMask to Google Chrome
    Click on Add to Chrome

    And then I will just add MetaMask as an extension.

    Adding MetaMask as Chrome extension
    Add it as an extension

    It takes a couple of seconds.

    Once it’s done, you will see the “Welcome to MetaMask” message. And it says that it connects you to Ethereum and the decentralized networks. So I click on the First Steps button.

    Click on First Steps

    And then I will show you in this tutorial how to create a MetaMask wallet if you’re doing it for the first time. Keep in mind, that if you already have a wallet, you need to import it.

    So now I will create a new MetaMask wallet, so if you’re doing it you will see how it works.

    Creating a new MetaMask wallet
    Creating a new MetaMask wallet

    And here we see what the MetaMask platform does and what it never does.

    Click I agree

    So I agree, and then I need to enter my password. So right now I will be just pasting a password that I will need to confirm. I will agree to the Terms and Conditions and I will tap on Creating.

    Of course, I would always advise you to go through the Terms and Conditions for every platform where you’re creating an account.

    Tap on Creating

    The secret phrase

    And here is my secret backup phrase, which is super important.

    The MetaMask secret phrase
    The MetaMask secret phrase

    Like every crypto wallet, you will have a secret phrase or words, usually, this is somewhere between 12 and 24 words which you need to write down on a piece of paper and keep offline.

    Don’t keep it on your computer, anything connected to the internet, for sure not on a cloud. Because this is how you can easily lose your NFTs and cryptocurrencies if someone actually hacks your computer or network and they get access to this phrase.

    So now I will click here to reveal the secret words, I will write down these 12 words on a piece of paper while I’m recording. This is what you need to do as well and never ever share it with anyone, especially if you are planning to keep NFTs on your MetaMask wallet or if you are keeping actually bigger amounts of Ethereum. After that, I will click on Forward.

    Click Forward

    And here, I need to confirm the order of the words.

    Creating the MetaMask wallet

    And I will just confirm it. It says, “Confirm everything’s ready” and then it just says congratulations. Once again, don’t store your password online, don’t make a copy of it, keep it on a piece of paper, and so on.

    So I click on, “Everything is ready”. And here it is, swapping on mobile is here, it’s something new on MetaMask that we may cover in another beginners tutorial.

    Swapping on mobile
    Swapping on mobile

    So it says that users can now swap tokens inside their mobile wallet. And this is the QR code if you want to have the MetaMask on your mobile, I will skip that for now. And that’s it, I have my MetaMask ready to use.

    My MetaMask is ready for use

    I can buy, I can send or swap tokens. I can use MetaMask to connect it to other platforms like CryptoKitties where we need to have a MetaMask wallet in order to purchase, breed, or customize the Kitties that I’ll be covering in another MetaMask tutorial.

    How to add money to MetaTask

    I continue this MetaMask tutorial for beginners and I will show you how to add funds to the MetaMask wallet. And I will show you something very important – the difference between buying Ethereum straight from MetaMask or transferring it from an external wallet or exchange. Because when we are transferring Ethereum, there are fees that you need to consider. And I will show you what is the better approach.

    So I will share with you my phone as well where I have opened my Crypto.com app. And this is where I have some cryptocurrencies that I use for trading.

    Crypto.com trading app
    My Crypto.com app

    Usually, the cryptocurrencies that I’m investing in for a longer term, I keep on my Ledger hardware wallet because it’s more secure.

    So right on this account, I have point 0.5111 Ethereum. I will tap on it. And from here, I can transfer it to my MetaMask wallet, and I will show you what is the difference. Now, if I want to buy Ethereum straight from MetaMask, I can do it.

    How to fund MetaMask with debit or credit card

    So I will tap on Buy and you see that I have 2 options. Buy Ethereum with Wyre and then I have the option to deposit Ethereum directly.

    Buying crypto on MetaMask
    Buying crypto on MetaMask

    So let’s see the first option, which is Wyre. This will allow me to purchase with Apple Pay or with card payment. So let’s assume you want to purchase $40 of Ethereum which you will be using to purchase NFTs. Now, the current Ethereum exchange rate shows to be $4,417.93. And if you look at the same time on my Crypto.com app, you can see that it’s $4,224. There’s a $200 difference and that’s huge.

    The Ethereum exchange rate
    The Ethereum exchange rate

    So if you are purchasing a huge amount of Ethereum, you should consider such a difference. And the better option would be to add funds from an external wallet to MetaMask rather than buying from MetaMask. If it is a small amount, there will be no such huge difference. So if I stick with the $40 example, you will see that I will have a transaction fee of $5 and I will have a network fee of $28.48 and I’ll be totally paying $73.48. That’s huge.

    I want to buy Ethereum for $40 but I’ll be paying another $33.48. That is a huge fee for that amount. But see something interesting, if I increase the amount, let’s say I want to buy Ethereum for $50, you can see that I will be paying $83.45. Let’s increase it to $100, you will see that it’s $133.44. So the network fee doesn’t change a lot when I’m increasing the amount.

    So if I want to buy $100 of Ethereum, I’ll be totally paying $133 with a network fee of $28.44.

    Keep in mind the network fee
    Keep in mind the network fee

    And if I go back to $40, I’ll be paying the same network fee. So the network fee doesn’t change. Pay attention to that. So it’s not worth it for me, personally, buying $40, $50, probably even $60 because I’ll be paying like 50% network fee. Even if it’s more than 50%.

    If I buy $60 of Ethereum, that would be a network fee of $28.38 and then a transaction fee of $5. That’s something you need to bear in mind.

    How to fund MetaMask with transfer from external wallet

    For the purposes of this MetaMask wallet tutorial, let’s take, for example, $100, and I will compare it with the other option to transfer from my Crypto.com wallet. We see that if I buy $100 of Ethereum, which is 0.02287734 ETH, that would cost me $133.18 with Wyre.

    I will close that now and I will go to the second option where I can directly transfer Ethereum, and I have my Ethereum wallet address. So now, on my Crypto.com app, I will tap on Transfer, I will tap on Withdraw, and I will select External Wallet. And here, I saved the MetaMask wallet just before creating this lecture so you can see that it is the very same address.

    My MetaMask wallet

    Now, I will tap on Withdraw Ethereum on my mobile and it gives me by default $100, which you can see is equal to 0.0234 ETH, which is a little bit more than 0.0228 ETH. And this is because of the difference in the exchange rate. Now, if I tap on Withdraw, you will see that for this $100 I’ll be paying a fee of 0.004 of Ethereum, and totally, I will be sending 0.0234.

    And I will actually receive 0.0194 ETH. So let me go back and increase a little bit the value to $120 or let’s make it actually $133.18. This is how much I was about to pay totally if I wanted to buy from Wyre. And I tap on Withdraw and you will see that the fee doesn’t change. So if I cancel it and I increase it to $200 which would be 0.0469 ETH and I tap on Withdraw, you will see again the fee of 0.004 ETH.

    So the first conclusion here is that it’s not worth it to fund your MetaMask wallet with a small amount of crypto.

    For example, if I want to send, let me switch to Ethereum, if I want to send 0.01 of Ethereum which is about $42 and I tap on Withdraw, you will see that I’m still paying 0.004 of Ethereum and I’ll be sending actually 0.006. So I’m paying like 40% fee and I’ll be getting just 60% of this $40 or $42.56 with Wyre.

    For me, sending less than $100 really doesn’t make sense because I’ll be paying the fee anyway. So if I want to send $100 to my MetaMask wallet, I will tap on Withdraw. You will see that I’ll be sending 0.0194 ETH. My fee will be 0.004 ETH and my total cost will be 0.0234 ETH. And I will tap on Confirm, I approve it with my fingerprint, and it says, ‘Your ETH withdrawal request has been submitted.’

    Confirming the MetaMast funding from external wallet
    Funding MetaMast from an external wallet

    It will take a while before I see the Ethereum on my MetaMask account. But one more time, pay attention to the fees, the costs, and see for yourself is better to fund your wallet from MetaMask straight away or you better transfer crypto from an external wallet.

    So below, I have the withdrawal which is pending. If I tap on it, I can see some details. But totally, one more time, I have paid 0.0234 Ethereum. I’m sending 0.194 ETH and my fee was 0.004 EHT. That was a cost of $97.16. Why is there a difference? Because while I was explaining everything, the rate changed and it was not $100 anymore but it was $97.16. So while I’m waiting for the Ethereum to arrive, one more time, I want to compare it.

    My observation about MetaMask funding

    I have paid $97.16 and if I want to buy that much right now using Wyre on MetaMask, let’s see if it would be more or less. So if I am buying, let’s say, $80, I have a total purchase of 114 USD. So let me reduce it for the purpose of this MetaMask funding tutorial. If it’s $70, 104 USD. I will go down to $65, no, 99 USD. No. I will go to $63, 97.16 USD. Alright, so it’s $62 point something. I’m not able to do the point here.

    So $62 or let’s say $63, I’ll be paying a total of $97 and I would get 0.0143 Ethereum. But sending $97 as a value would arrive with 0.0194 Ethereums.

    Add funds to MetaMask with credit or debit card
    Add funds to MetaMask with a credit or debit card

    So this is exactly what I wanted to show you. It’s much better to add money from an external exchange or wallet to your MetaMask rather than buying crypto straight from MetaMask because the network fee is higher and as well the exchange rate is worse. And this is by the time I’m creating the lecture. It could be different by the time you are reading the lecture, but I doubt it.

    So I always look to buy from a cheaper place where their exchange rate is better. Now, let me close it, and let’s see if Ethereum has arrived. I will refresh the page. Be patient here, don’t freak out, and just wait for it. So I continue the lecture in just 1-2 minutes time, actually. And you can see that I have 0.0194 of Ethereum on my MetaMask account, and now I am able to use it to connect my MetaMask account to the NFT platforms and spend less Ethereum for some NFTs that I might like.

    Conclusion

    If you have any questions about the MetaMask wallet, how you can create it, let me know in the comments below. And if you have found the MetaMask wallet tutorial for beginners useful, please leave a comment. I will see you guys in another lecture.

  • Bitcoin Cash Price Prediction in 2021

    Bitcoin Cash Price Prediction in 2021

    In today’s lecture, I’ll be doing a realistic price prediction for Bitcoin Cash as one of my early investments this year. And I will show you what are the next targets I’m looking at.

    Bitcoin Cash price prediction

    So at the moment of creating the lecture, Bitcoin Cash sits at about $880.

    Bitcoin Cash sits at about $880 currently
    Bitcoin Cash sits at about $880 currently

    I have bought it at a relatively good price at $345 and I have bought almost 2 coins. Honestly, I don’t remember why I have bought 1.99. Probably I was missing some capital in my account on the exchange so I couldn’t afford to buy the two. But anyway that was a total investment of $686 and the current market value is $1,687 which is about 145% growth already.

    So I’m pretty satisfied with that one.

    My Cryptocurrency portfolio spreadsheet
    My Cryptocurrency portfolio spreadsheet

    And actually, this is my cryptocurrency portfolio spreadsheet, which I share on my Patreon’s page that I have started recently, you can check out this page to learn more.

    Going back to the chart on Bitcoin Cash, you can see that the price reached $1,200 in April, and on yearly basis, we have over 265% already.

    The Dow theory of uptrend

    So I am considering my investment as long-term as it is set into my spreadsheet. But in this lecture, I want to give you an idea what are the realistic targets that we have and our price prediction based on what Bitcoin Cash did since November. So on the chart we clearly see that we are still in an uptrend, we have series of higher highs and higher lows.

    That high is higher than that one. Then we have another higher high, then we had a lower high. But at this moment, we didn’t have a change in the trend because we didn’t have a lower low than that one. So until that moment, we are in a clear uptrend, we have series of higher highs and higher lows. Then we had a lower high but the price didn’t form a lower low than that one.

    And after this amazing move, it did in April, we have a new higher high with another higher low which is higher than that one. So that’s still an uptrend, series of high highs and high lows, this is the Dow theory of uptrend.

    Bitcoin Cache price uptrend
    We’re still in an uptrend

    The counter-trendline

    Now, if the price drops again below the $686 or if I should be precise and I put the mouse on it, you will see that the lowest point is $680.

    If the price forms a new lower low, we will have a series of lower highs which I will just make red because it will be a lower high. And here we will have another one, so that would be a downtrend already. So this level is quite important, all ready for the market and especially for the Bitcoin Cash and I will put it right over here, $680. Let me do it precisely $680 and I click on OK, here it is $680.

    So definitely that’s a level that we would be looking for and I think any buying opportunities above that level are worthy still.

    But let me go down to the hourly chart and show you what usually I use. I will remove now these circles which I used to point out the uptrend.

    A great opportunity for entry was with the counter-trendline. As you know, I often use it. Basically, 90% of my trades and investments are based on the counter-trendline.

    So right over here we had a nice break, it was not an impulsive break honestly. That’s why I didn’t take the trade but we had as well the failure of the recent low and that was a great entry at a little bit above the $800. And now the Bitcoin Cach price is just going sideways.

    What is the Bitcoin Cash?

    So for the beginners who have no idea about Bitcoin Cash, with simple words, it is a fork of Bitcoin and it aims at more transaction capacity to the network. So it will be a more useful token, at least this is what they aim for.

    Now, what are the real targets and our Bitcoin Cash price prediciton? This is what the lecture is about but I wanted to show you what is my current setup with Bitcoin Cash.

    Uptrend, if the price breaks below $680 it will be a downtrend. And one more time, I’m looking for counter-trendlines usually to buy but I didn’t take that one because the break was not impulsive like that one, for example. That’s an impulsive break guys, that’s impulsive moves. This is where the smart money comes in and this is where I want to join.

    Not a slow and steady upward movement like that one. However, I have already my investment so I didn’t want to add any more to my portfolio. But what is the target that I am looking at for Bitcoin Cash price? I will remove those as well, very important to always buy when we’re in an uptrend and when we’re in a downtrend be patient, and just wait for the new uptrend to appear.

    The Fibonacci

    Going back to the daily chart, how I determine the targets and what is the realistic price prediction? I use the Fibonacci levels which I explained, one more time, in my Cryptocurrency Investment course. And now I will grab the Fibonacci retracement and I start from the first move of this new uptrend.

    The Fibonacci retracement on Bitcoin Cash chart
    The Fibonacci retracement

    So right over here the Bitcoin Cash price was just sideways, at this moment we have a downtrend, and when we have a new uptrend on a daily chart, I grab the first move which was this one over here. This is the lowest point, so I will need to make it precise. Stay with me here, this is very important, it gives great targets that I’ve been using until the moment for trading.

    It works really nice, so here it is. This is the first positive move, I’m taking the lowest point of the previous downtrend to the first higher point. And I draw it from the top to the bottom. Now, the Fibonacci is quite interesting, it gives retracement levels but as well gives us targets. The first target at 161.8, the second at 261.8, we have third and fourth but I usually use the second target.

    My realistic Bitcoin Cash price prediction

    And when the Bitcoin Cash price reaches the second target right over here, I draw another Fibonacci starting from the top and going to the lowest point. I will show it to you right away. So the price reached at that moment the target from Fibonacci, I take the new high and I draw it to the lowest point right over here which gives us the new targets. This is the lowest point that we have after that move.

    The lowest point in Bitcoin Cash price prediction
    The lowest point after that move

    Then we have 2 new targets and the new one right over here at about 647. You see that the price nearly touched that target but it did it after that right over here with this impulsive move. And now I will draw the new Fibonacci starting from the top going to the lowest retracement right over here, here it is.

    Fibonacci going to the lowest retracement
    The new Fibonacci going to the lowest retracement

    And let’s see, where are the targets?

    The first target 1,091, the second target 1,608, and the third target was not reached. So my first Bitcoin Cash price prediction based on the Fibonaccis and the moves we had so far from the end of 2020 and the beginning of 2021 is $1,600. That’s the realistic Bitcoin Cash price prediction.

    As I’ve said, I’ve been using the Fibonacci for quite a long time, many years. To be honest, it’s one of the things I’ve been using as well for Bitcoin itself.

    Taking profits and re-entering on the next retracement

    And it brought me quite many profits, you see that all of these are Fibonacci targets where I was taking profits and re-entering on the next retracements.

    My Fibonacci targets

    And my current target with Bitcoin honestly, is right over here, sits at $84,487. I have shared that in one of my lectures, it is as well in my Cryptocurrency spreadsheet.

    One more time, you can find my crypto portfolio spreadsheet on my Patreon’s page where I give buy and sell signals every time I purchase a coin or I sell, I share basically all of my investments.

    Now, what to expect from there? It is really hard to make a Bitcoin Cash prediction because it depends on what the price will do from now. If it drops, as I said we will be in a new downtrend and we will have to wait for a new uptrend and restart the Fibonaccis.

    If it goes sideways for some time and then it reaches that level of $1,608, then I will be drawing a new Fibonacci to the lowest retracement. So let’s say the price reaches until here then it drops again, it doesn’t necessarily mean it will stop at that target. It’s a target where I would be looking to take some profits.

    We have various determinants of the Bitcoin Cash price

    But it could be a little bit above, it could be much higher. It can reach potentially to, let’s say, $1,850, it doesn’t matter.

    My point of view is that after we have the new top, I will be drawing a new Fibonacci and going to the lowest retracement over here.

    And then I will see what will be my next target and prediction for the Bitcoin Cash price. In this case it is a huge one, $4,211.

    My Bitcoin Cash price prediction
    My next target

    But it depends, one more time, on where this new top will be above the current target of $1,600.

    Conclusion

    So this is how I use price action and technical analysis to determine new targets for levels where the price hasn’t been this year or the last year. I’m not looking at the levels from 2017, guys. Bitcoin proved to us that what happened in 2017 or in 2018 stays in 2018.

    And it doesn’t really matter where the price reached. There was a mass of people trading at this time, not the investors. Now, we see a huge buying power for many companies, hedge funds, popular influencers, investors like Elon Musk that affect the price daily. And I am looking at just what happened in the last months so I can decide on what are my next targets.

    Using Fibonacci worked really well so far for me, hope it will work for you as well. One more time, if you want to learn the complete system on how I am using the Fibonacci, the counter trendlines, where I’m buying, you can have a look at the Cryptocurrency Investment course.

    I was recording videos, every time when I was buying the different assets, of course, many of them I have sold always on a profit. I never sell an asset at a loss, so always on a profit. If it goes on loss, I’m just hedging or buying a second or a third time to have a better average price and get my account on profit.

    So this is my realistic price prediction for Bitcoin Cash. We’ll see when it will reach $1,600. And I’ll be super happy to see what is your Bitcoin Cash price prediction in the comments below. If you have any questions, don’t hesitate to ask in our Community Forum and I will see you guys in the next lecture.

  • FXCM Review – PROs & CONs of The Broker

    FXCM Review – PROs & CONs of The Broker

    Are you a trader in financial commodities and other such items? If yes, then it is quite likely that you will find this FXCM review interesting and informative.

    Table of Contents:

    1. What is FXCM
    2. Security & Regulations
    3. FXCM Trading Platforms & Tools
    4. Trading Assets
    5. Spreads & Pairs
    6. Account Types
    7. FXCM Fees
    8. Opening an Account
    9. Deposit & Withdrawal
    10. Customer Support
    11. FXCM PROs & CONs
    12. Conclusion

    Choosing the right broker for dealing with financial products is not easy. This is because of a number of reasons. To begin with, many of us are beginners without the right knowledge and information about the various online trading platforms.

    Therefore, before choosing a broker, there is a need to gather the right knowledge and information. It would be a good idea to research and look up as many online brokerage platforms as possible and then make a decision.

    There are many such products available in the market and many believe that FXCM could be one of the best options. Hence, it would be a good idea to have a complete and impartial FXCM review. We are hopeful that it will help the readers and other stakeholders to have a reasonably good idea about this service provider.

    Further, this FXCM broker review will also try and point out the positives as well as the negatives of FXCM broker which will help the traders, customers, and other stakeholders to take the right decision based on facts and figures.

    Basic Information about FXCM

    Founded in 1991 in the United States, FXCM of late has shifted its focus out of the U.S market and has now started catering to some other regions. To align themselves to the emerging and changing market situation, they have started going in for rebranding as well as market positioning.

    fxcm trading experience
    FXCM celebrated its 20 anniversary in 2019

    In fact, they have started a new company known as Leucadia Company and it is owned, managed, and run by Jefferies Financial Group. The company’s shares are listed on the NYSE. It is a part of the S&P400 index and also is a part of the Fortune 500 list of Firms.

    Hence, when all the above points are taken into account, there are reasons to believe that it is a well-known reliable, and respected name. This fact is further corroborated by the various FXCM Forex broker review articles. Though there is no doubt that FXCM has had a troubled past, FXCM has been able to become the second-largest Forex brokerage firm for retail customers outside Japan.

    FXCM Security & Regulations Review

    FCA

    FXCM is primarily regulated by FCA or the UK Financial Conduct Authority with a license number of 217689. It would be pertinent to mention here that FXCM went through a rough patch in 2014. There are many FXCM broker review articles to confirm this. It is believed that FCA fined FXCM to the extent of GPB 6 million dollars for some fraudulent transactions with its traders.

    However, this has been forgotten and the fine was levied on a defunct parent company. Since then FXCM has been fully compliant. Things certainly have looked up after the parent company sold its stake to the Jefferies Financial Group. It would be pertinent to mention here that today, each and every trader who is a part of the FXCM broker setup is protected to a sum of GPB 85,000 under the transparent and trader-friendly Financial Services Compensation Scheme.

    FXCM broker is fully compliant and well regulated
    FXCM broker is fully compliant and well regulated

    AMF

    It also would be pertinent to mention here that FXCM also is regulated by AMF. AMF stands for Autorite des Marches Financiers. FXCM is regulated in France by the AMF. Additionally, the service provider also is regulated in Australia by ASIC or the Australian Securities & Investment Commission. It also is regulated by FSCA or Financial Sector Conduct Authority in South Africa. The French operations are also quite impressive from the regulatory standpoint because the traders are protected against possible loss to a maximum amount of Euro 70,000 as per the directives given by FGDR or Fonds De Garantie Des Deposits Et De Resolution.

    At the end of the day, there are enough reasons to believe that clients and traders are insulated from the company funds. This is as per the mandate given by FCA for the UK operations. Further, it would be important to know that each third-party institution has a credit rating that is equal to Quality Step 5 of FCA credit.

    Hence, it is quite obvious from this review that the FXCM broker is fully compliant as far as the regulatory requirements are concerned. The brokerage house over the past few years has stood up to its expectations and has been doing a wonderful job as far as winning and regaining the trust of traders is concerned.

    Is It Safe?

    When we factor in the above things, it is quite obvious that FXCM is a low-risk trading house. It has been able to notch up an impressive Trust Score of 92 out of a possible 99. The parent company of FXCM is also a reputed and well-known publicly traded entity. Further, it does not operate a bank. On the whole, it is quite obvious that the money of the traders and clients is quite safe because of the stringent regulatory framework that it has subjected itself to. The client’s money is well protected under the regulatory framework. FXCM has had an unblemished and impressive history apart from the aberration that it had to go through in 2014.

    Trading Platforms and Tools

    The success and reliability of any online trading house are determined to a large extent by the kind of tools and platforms that it offers. Based on many reliable FXCM broker review articles, there are reasons to believe that FXCM has been able to set high standards when it comes to making available various tools and also the right trading platform.

    It is comparable to the best in the industry. There were many studies done by independent houses and they have been unanimous about the quality of the platforms and tools that FXCM has been able to offer. It is considered to be the best as far as class, performance, dissemination of information and other such attributes are concerned.

    It uses the well-known and proprietary Trading Station along with a number of other such platforms. These include NinjaTrader 8, and Trading View. All these have one thing in common and it is their ability to support algorithmic trading. FXCM also perhaps is one of the few that offers ZuluTrade that is suitable for social copy trading. Finally, it also uses another powerful platform by the name TWS or Trader Workstation and the same has been powered by IBKR or Interactive Brokers. This is basically used for trading in stocks.

    There is no doubt that Trading Station is the most sophisticated and popular trading platform. If you look at any good FXCM review you will be able to get the right feedback about it. This is because it is strong, robust, reliable, and easy to learn and use. It suits the skill levels of different types of traders.

    It also comes with the famous Marketscope 2.0 charting tool. This is a powerful tool that runs parallel to the main window. It also offers the traders to have a look at the historical slippages that may have happened and the various trading costs that the traders have incurred while trading.

    Trading Station Web

    FXCM Trading Station Web interface
    FXCM Trading Station Web interface

    It would be not out of place to mention here that FXCM offers a web version of Trading Station. This platform is packed with a number of interesting and impressive features. It is of a contemporary design. You can use it for having a look at some relevant headlines and news that may be of interest to you. Further, it also has a number of other useful tools and assists in the form of signals, headlines, videos, analysis, and other such things. These come from Trade Central. All these tools are easy to use.

    It would also be pertinent to mention that the FXCM app store also offers a number of useful technical indicators, automated trading robots, and other forms of algorithmic trading. The good thing about FXCM is the algorithmic trading facility that it offers. It allows the users to get access to a vast number of such algorithmic trading platforms. You also get the support and assistance of a dedicated support team for handling all aspects of technical matters.

    Mobile Trading Platforms

    Because of a strong trading platform like Trading Station and MT4, FXCM is in a position to offer feature-rich, reliable, and efficient mobile trading services to its traders. These mobile platforms offer algorithmic trading facilities. Further, it also has 60 indicators and various types of multiple drawing tools. It allows trend lines to be drawn accurately and this is made simpler because of a magnifying glass which helps the traders to place the trend lines in the right position.

    Products That Traders can Trade

    Trading Assets Example

    Before we understand more about FXCM minimum withdrawal and other such things, it would be a good idea to have a brief look at the trading opportunities that it offers. It offers a total of thirty-nine currency pairs. This goes a long way in making Forex trading the most important and significant asset product as far as FXCM broker is concerned.

    Additionally, they also offer nine different types of commodity CFDs, and also thirteen index CFDs amongst other products. They also offer cryptocurrency CFDs and these are five in total.

    One more cryptocurrency basket has been recently added. Yes, there are a few traders who feel that the bouquet of financial products available is limited when compared to other such brokers. But if one looks at the mix of trading products offered by FXCM, it is quite obvious that it should be quite sufficient to meet the trading requirements for traders across various levels.

    Spreads and Pairs

    There is a big takeaway when you deal with FXCM broker. The broker is known to collaborate with ten different liquidity providers. They are also attached with a few other reputed and prime brokers. Therefore, as a trader, you can be sure that you will get the best prices as far as each trading session is concerned. When you look up some quality FXCM broker review articles you can be sure that they are a cut above the rest when compared to many other such brokers in the market especially in an online environment as far as spreads are concerned.

    You may want to compare the Spreads with the Recommended Brokers we have on our website.

    Account Types

    Most traders who belong to the CFD account types are happy with FXCM because it caters to their requirements quite well. For example, traders who are based in the United Kingdom are in a position to take advantage of the famed Spread Betting Account. This offers a number of benefits including tax-free trading. Further, FXCM also is in a position to cater to institutional clients because of its proven prime brokerage unit. This is named FXCM Pro.

    CFD Account

    CFT Trading image

    If you believe in high-volume trading, then you have many reasons to go in for the Active Trader CFD Account being offered by FXCM. The spreads are not bad and there also is a commission that is payable. The commission is $30 for every $1 million that is traded. Those who are able to increase their trading to $150 million as notional trading will have to pay a commission of $25 instead of $30 per million dollars of trading.

    There is also special pricing available for traders whose volume is more than $500 million per month. Therefore, it would not be wrong to mention that FXCM provides a reasonably competitive trading environment when we compare them with other market players and brokers. The commission that is charged is also on the lower side when we compare them with other competitors.

    If you are a trader who wishes to open a professional account, then you have to satisfy two out of the three different criteria.

    The leverage for professional traders is enhanced to 1:400 while it is 1:30 for retail traders. Further, they also have different margin requirements for different types of assets. This also could impact leverage positively or negatively. You will have to spend some time visiting their website so that you are able to get the right information about the commitment of the brokers towards reliability and transparency. Many FXCM review articles are not too critical about this criteria.

    Fees

    A major portion of the revenues for FXCM comes from the spreads that are marked up across assets. The spread for EUR/USD is 1.3 pips. According to many traders, is on the higher side when compared to various other retail Forex brokers. UK traders are offered 0.7 pips and this is for EUR/USD pairs.

    FXCM Trading Fees

    However, on the positive side, the commodity and index CFDs are priced quite competitively. Those who are into active mode of trading are offered lower spreads and it works to around 0.20 pips as far as EUR/USD is concerned. Further, there is a commission of $25 for every $ 1 million that is traded using the FXCM broker platform.

    If there are big corporate actions such as mergers, dividends, and splits, these come with Index CFDS.

    Apart from the above $40 withdrawal fee is charged from each trader and this certainly is a wrong and retrograde move on the part of FXCM. If an account is dormant for 12 months an inactivity fee of $50 is charged from the accounts of the traders. Additionally, $30 VPS hosting charges are also payable. However, the service provider is quite transparent as far as the charges are concerned and they are clearly visible on the right pages of their website.

    Opening an Account

    FXCM Broker Account Opening

    The FXCM account opening formalities are quite simple. There is an online application form and it is used for handling requests for new account openings. It is the standard operating procedure that they have been following.

    The entire application opening process goes through three steps as far as FXCM is concerned. As per the regulatory requirements each and every account has to satisfy the required AML and KYC requirements. The traders are required to upload their proof of residence, trader’s ID apart from offering proof of residency.

    The information that is shared by customers is completely safe and is encrypted end to end. The whole process of account opening is quite efficient and fast and if the documents are in order, the account opening should be completed in 24 hours.

    Deposits and Withdrawals

    FXCM has an impressive array of deposit and withdrawal options. These include debit and credit cards, bank wire transfers, Neteller, Skrill, Rapid Transfer, and Klarna. The name of the payment processor should match the account name and this is in line with the requirements laid down under the AML rules and regulations. The entire process of deposits and withdrawals happens within one day. Third-party fees are applicable when making deposits and withdrawals and traders should be aware of the same.

    Customer Support

    You can expect customer support 24/5 and not 24/7. The help center that is available in the trading platform is a good resource for contacting other support avenues. This is because it covers almost all the common topics on which a trader might require help. The service provider also has toll-free numbers and contact can also be established through SMS. They also have a robust email support system that is much better when compared to most other competitors.

    Pros & Cons

    Based on the above information and also after taking into account the various FXCM broker review blogs and inputs, it would be interesting to have a look at the pros and cons of FXCM:

    Pros

    • Reputed, well-known, and has stood the test of time.
    • A wide range of products which is sufficient for different types of traders.
    • The best of security features and safety attributes.
    • Fully compliant with the various rules and regulations as far as KYC, AML, trader safety, a safety net for the funds of the traders and other such things are concerned.
    • Excellent customer service.
    • A good number of deposit and withdrawal options.
    • Advanced trading platform with demo amount and a host of other tools.

    Cons

    • A forgettable past in 2014 where it had to pay a hefty fine.
    • Traders believe that the number of products could have been more.
    • Commission structure and withdrawal fee are negatives.

    Conclusion

    If you are looking for a result-oriented, customer-focused, and reliable online broker, then choosing FXCM broker will not be a bad idea. Though they did have a forgettable past in 2014, they have been able to overcome this and have been able to win the trust and confidence of thousands of traders across the world.

  • Siacoin Price Prediction 2021

    Siacoin Price Prediction 2021

    Siacoin price prediction

    Today I will have a look at Siacoin and I will do a realistic price prediction based on technical analysis and what we’ve seen so far in 2021 with that altcoin.

    So Siacoin did a fantastic move and for the past year, it did more than 2100%.

    Siacoin movement in last year
    Siacoin did 2100% over the past one year

    But if I put the mouse at the beginning of this year, on the 2nd of January, you will see that the lowest price was $0.0032. And if I put the mouse on the 17th of April, which was about a few weeks ago, you will see that the highest price is $0.064.

    Siacoin highest price in 2021
    The highest price

    This means that for less than 4 months, the Siacoin did already 2000%. And that’s quite a good investment. If you have invested $1,000 at the beginning of the year, on the 17th, this $1,000 would be $20,000.

    However, after that, the price made a significant drop down to $0.025 and this is one of my main concerns. However, I did my first investment using that pullback but before continuing with the technical analysis that I will show you in this lecture, I would like to give you a brief idea about Siacoin and what’s the idea.

    What is Siacoin

    Actually, I love the idea because as you know, storage nowadays becomes a problem, and exactly Sia aims at creating a data storage marketplace.

    Sia aims at creating a data storage marketplace
    Sia aims at creating a data storage marketplace

    It’s a leading decentralized cloud storage platform that uses no servers, no trusted third parties. It uses blockchain technology to offer more affordable storage than the traditional cloud storage providers. And on the official website at Sia.tech, you can see where they are at the moment.

    Sia user base
    Where Sia is at the moment

    And if more people and companies find Sia as a solution, for example, even me as having thousands of videos already in online courses, in YouTube, I have to store all of that and I’m paying Microsoft or Google to use cloud storage that is relatively expensive. And if we have a better and a cheaper option, obviously, I’ll take advantage of that at one moment.

    The retracement

    Now, going back to the chart, what I want to show you and what I used to buy my first Siacoins is exactly that retracement. Now, why did I say that this is my concern? Because the price right here was at $0.0635 and it dropped to $0.025. So basically, it lost over 100% of its value.

    And if you compare it with Bitcoin, the drop in April was a huge one. Somewhere at $64,000 down to, if we take the lowest point, $47,000. But it’s not 100%.

    So when an asset drops with 100%, usually the investors are a bit skeptical because they don’t want to risk especially if they have bought over here.

    Investors are skeptical to buy when an asset drastically drops
    Investors are skeptical to buy when an asset drastically drops

    Another thing is when there is such a huge sell-off, it means that most of the coins are controlled by the whales. And when they take profits, it affects the Siacoin price quite significantly and makes prediction harder.

    Now, I would never buy on the top. As you know from my other lectures, if you have watched some of my Cryptocurrency Investment Courses, you know that I’m using counter-trendlines. And this is exactly what I was using in this case as well.

    Some of my Cryptocurrency investment courses

    Sia technical analysis

    So let me switch to the hourly chart and I will show you where was my entry and what I was looking for when making my Siacoin price prediction. Now, actually, before that, I want to place one line which is the support line we have.

    So definitely we have strong support right here where the price stopped. And I will go to the hourly chart to make it actually precisely, it is at $0.025. I’ll just make it precise on that level, here we go.

    The support level
    The support level

    So you see that this level was quite a good support right over here. First on the 3rd of April, then on the 7th, then on the 13th, and then when the Sia price dropped and the second half of April, it stopped again at $0.250.

    The support level

    So at that moment, I started looking for buying opportunities because I knew that this level is already strong enough.

    So the support level, guys, for the beginners, is a level where the buyers get stronger than the sellers and they don’t allow the price to drop below it.

    Now, what else I used is a counter-trendline. Why do I call it a counter-trendline? Because I draw it against the main trend and this is how it looks like, here it is.

    The counter-trendline for Sia
    The counter-trendline

    So probably I should have mentioned that we are still in an uptrend. If we look at the daily chart, even if we had this huge drop, but we still have series of higher highs and higher lows. This high is higher than the previous one, then we have another higher high and then we have another higher high.

    The series of higher highs
    The series of higher highs

    And then we have higher lows, so this low is higher than that one.

    As well, this low is higher than that one and again this low is higher than that one. And why is this level of $0.025 important? Because it didn’t form a lower low. Basically, it kept the uptrend because this is higher than that one. And this means that we are still on an uptrend.

    The counter-trendline

    Now, let me switch back to the hourly chart, now these circles won’t be in the exact place.

    Basically, what I wanted to show is that we are in an uptrend and we are in such an uptrend because the next low is slightly higher than the previous one.

    Now, the counter-trendline allows me to find good entry points. And if I switch back to the Bitcoin chart, you will see many points that I have used along the way to purchase, not just Bitcoin but many other coins.

    The Bitcoin chart
    The Bitcoin chart

    But of course, I’m always looking at the Bitcoin first. Is it bullish? Is it bearish?

    And the counter-trendlines simply made my profit last year and this year as well. So going back to the Siacoin price prediction, my counter-trendline looked like that. What we had here, this was the break but after that, we had a significant drop and then the price recovered.

    Siacoin price break
    The break

    Now, at that moment, I will just zoom it in and I want to show you why I didn’t buy here. I waited for this high to be reached.

    On the hourly chart, I want to see a new uptrend forming. So we have this low and we have a new high, which is lower than the previous highs. But then the price formed another higher low and I was waiting for my prediction for the Siacoin price to break this high over here. And it did it just at this candle, not an impulsive break but it was a break and already I had a new uptrend on the hourly chart.

    Check out my Patreon’s page for my Cryptocurrency portfolio spreadsheet

    But the very same candlestick pulled back and I took the trade somewhere below. Just I used the retracement and I was waiting for this aggressive move. So my price, if I show you my cryptocurrency portfolio for the Siacoin is $0.03433, that one over here.

    Trading Academy cryptocurrency portfolio spreadsheet
    My Cryptocurrency portfolio spreadsheet

    And this is my cryptocurrency portfolio spreadsheet that you can find available on my Patreon’s page. If you want to have a look at it, I will put a link here. And as well, there I give the signals when I’m buying and selling cryptocurrencies.

    So, yes my price was somewhere right over here at these candlesticks. After that, we had an impulsive break upwards. Now, the price is just going sideways but you see that it retested this level so already that’s another important level that we have here at about $0.0355.

    Now, I have bought here, and if you paid attention to my spreadsheet you will see that I have bought just 3,000 Siacoins. 3,000 is a huge number but that was an investment of about just €100. Because first of all, that’s a new system that I’m implementing in my portfolio, buying cheap coins for about €100 and I have nice money management that I will probably share in some of my next lectures.

    The Siacoin price prediction

    But as well, I keep in mind that there was a 100% drop and there is a huge potential for the price to drop even lower. So if it drops lower, I will be looking for new buying opportunities to average the price, so that’s why I have bought just $400.

    Now, what is my Siacoin price prediction, guys? I know you’re waiting for that but I wanted to show you exactly what I’m looking at, how I’m analyzing the charts very simply so you can do it as well.

    Now, for the Siacoin price prediction, because we don’t have anything else above that and as well for the coins that did great in 2017 I don’t consider these levels as important. Right after Bitcoin broke the $20,000, it shows us that what happened in 2017 stays in 2017. We have a new market now and we have new levels.

    So what I am looking at right now are the new movements that we have from the coins and how I’m looking at the Siacoin price prediction as I’m using a Fibonacci. And this is the only way we can have potential targets based on what we have until the moment. So how do I do that? I will take the first move which is right over here. Actually, I said that the lowest point was that one, let me just grab it. From the beginning of January, here it is.

    My second target was not reached

    So what I do, I put a Fibonacci, drawing it from the top of the first move to the bottom of the first move.

    Fibonacci draw on Siacoin price prediction chart
    I draw a Fibonacci

    Now, I’m not going to talk about Fibonacci in detail but it has retracements that work very well. But at the same time, it has target. It has like 4 targets at 1.618, then 2.618, 3.618, 4.236. But I’m using the second target, 2.618.

    So whenever the Sia price reaches the second target, I take another Fibonacci and I start from the new top after the price reached the second target. So it reached that moment and then I’m taking this high and then I’m drawing it to the lowest retracement, which is right over here in this case. And then we have new targets, the second target right over here.

    This means that I have to take a new Fibonacci starting from this top over here, going to the lowest retracement of that move. And then, stay with me here, my second target was not reached.

    My second Sia price target was not reached
    My second target was not reached

    So still my potential target would be at 0.07, that’s my first target for the Siacoin. Now, what happens if the price reaches that level? Of course, it might go sideways, it might drop, it might go higher immediately.

    If you want to learn more about technical analysis check out our Cryptocurrency Investment course and learn how to perform analysis by yourself.

    But it will reach it eventually at one point, which means that at this time I will do another Fibonacci. Here it is starting from this top or the top that the price will form. And then I will draw it until the lowest retracement which is right over here, this bottom. Which will give me the new target which will be at 0.1480 or so.

    The new target

    Depends where this top will be because it will change the price.

    But it will be in the range of 0.13 to 0.15 or 0.16. So my first target is 0.07 and when the price reaches there, I might take profit. Or I might look for another counter-trendline and target the next one which sits at 0.14, 0.15, maybe 0.16. One more time, depending on where this top will be after breaking this level of 0.07.

    Conclusion

    Might sound too complicated if you have no experience with technical analysis, check out the Investment Cryptocurrency course where I explain the system in detail. It worked brilliantly for me, guys. I have doubled my portfolio a few times. These are the current assets that I’m holding at the moment with a total value above $70,000 and now I’m looking for the small coins as Sia, as hot to break on new record highs.

    But one more time, that’s how I see it. I’ll really appreciate it if you share your realistic Siacoin price prediction in the comments below. I will see you guys in another lecture.

  • Binance Review: The PROs & CONs

    Binance Review: The PROs & CONs

    This Binance review will explain how this cryptocurrency exchange facilitates both real-world fiat withdrawals and transactions. Many cryptocurrency investors utilize the Binance exchange for their needs. The platform supports the deposit and withdrawal of over 200 digital currencies.

    Table of Contents:

    What is Binance?

    Binance is a multi-faceted cryptocurrency exchange. The headquarters of the company is based in Malta. It also has offices in other countries, such as the Cayman Islands. You can easily trade all types of cryptocurrency on the Binance platform. From popular coins like Ethereum to new coins like GYEN and DXE, in this review, we found that Binance Exchange offers most of them.

    The money that you make on the Binance exchange can also be invested in several other ways, such as in mining groups. Its large trading volumes make it one of the biggest marketplaces for trading crypto worldwide, with access to at least 540 crypto-to-crypto trades. Binance makes over $2 million worth of activities possible every day.

    Can anyone trade at Binance?

    People from most countries around the world can trade on the Binance exchange and the minimum transaction is $10. In this Binance review, we found that they accept users from all nation-states. The only point at which you may find that you’re unable to register for an account is when you’re trading in a country where the regulations prevent you from registering. In some of these cases, Binance may have a special platform developed for residents of that country, which meets the regulations of that nation.

    While the Binance platform accepts users who want to use cash, you may not always be able to deposit cash to your Binance wallet based on your location. Review the Binance site before you sign up to see whether banking regulations make it easy for you to use cash on the exchange.

    In some cases, additional charges apply to credit or debit cards where the native currency is not USD or EUR. The fee for this is 3.5%, which is lower than the 3.99% fee charged by Coinbase.

    Binance Trading Costs Review

    You won’t usually pay more than 0.1% every time you complete a trade on Binance. This is their standard fee, although they do offer a Market Maker/Taker fee structure as well. Every time you sell your coins to another member or buy coins from someone else, you’ll be charged a fee.

    Market Takers can lower this 0.1% fee somewhat. Since Market Takers use liquidity in the market, they can pay 0.09%. To be classified as a Market Taker, you’ll have to trade at least 500 BTC or the equivalent of that, within each 30 day period.

    Binance Platform

    Fees can be lowered even more than that but you would have to trade extremely large volumes every month. To obtain that type of discount on your trading fees, you’ll need to trade at least 150,000 BTC per month. Market makers get almost the same deals with respect to the volume of coins that they trade.

    However, if you’re a Market Maker, you can get pay fees as low as 0.02% if you trade 150,000 BTC or its equivalent every month. Market Makers help to keep the market liquid and provide depth as well, profiting from the difference in the bid-ask spread.

    Even if you only satisfy the criteria in a single month but drop below that level in the following month, you would get the corresponding discount for the month in which you qualify. Traders who hold a balance in the platform’s proprietary coin will also get discounts on their trades.

    Binance Coin balances can be used to pay your trading fees. When you choose this option, you’ll pay a fee that’s 25% lower than the standard fee. For example, your 0.1% fee would be reduced to only 0.075%. The discount that’s available to holders of Binance Coin reduces over time, so at the next reduction, it will be equivalent to 12.5%.

    How to Withdraw Funds

    Binance allows you to withdraw your crypto funds as a real-world currency, so you can withdraw your coins to bank accounts around the globe. Your crypto trading account can be funded using fiat currencies. If you wish to invest in digital currencies but only have fiat currencies to start with, Binance makes it simple to buy the coins that you prefer and withdraw those or keep them in your Binance wallet for any purpose.

    How to Buy Crypto on Binance

    Binance has partnered with companies like Simplex and SEPA, so you can fund your account by using your credit card or a wire transfer. You won’t have to pay any transaction fees if you decide to use SEPA transfers or wire deposits to fund your account. Your credit card can be used to purchase at least 31 cryptocurrencies, including ETH, BNB, and Bitcoin. Some debit cards can also be used for this purpose.

    Binance Trading Software

    Binance platform makes it easy to do your trading. As a Binance member, you won’t have to pay to download their platform to your device. You can use the Binance mobile app or download their Binance Desktop software on your Linux, Mac, or Windows computer.

    You can even use a Binance widget to make trading easy, if you use the Brave browser.

    Brave is a browser that’s focused on privacy and you can integrate the widget with it in just a few simple steps.

    You can manage your portfolio, buy crypto, or do any trade that you wish on the Binance exchange via the widget.

    Binance & US Citizens

    Most traders who are based in the United States can use Binance US to trade on a platform that complies with regulations in their country. However, there are a few states that are not currently supported by the platform. These include Connecticut, Texas, and New York.

    Binance US Citizens

    Buying Crypto from Another Seller

    If you would like to purchase particular crypto from another seller on the Binance exchange, but you only have cash, you won’t have any problems. Binance P2P is a peer-to-peer trading platform that supports two kinds of cash transactions and the minimum transaction is $10. You can either purchase your coins via a deposit to the vendor’s bank account or do what’s known as a Cash In Person payment.

    If the seller has a bank account, you can do a deposit to their account via an ATM or in a bank. These transactions are instant and there are zero costs attached. You’ll keep your receipt from the transaction as proof that you did it and you can contact the seller via Binance chat to request confirmation that they’ve received the funds.

    If the seller doesn’t have a bank account, you can still purchase coins from them with your cash. The platform offers you the option of meeting the seller face to face in order to make your cash payment in person, with the assistance of a merchant. This has several advantages and some traders like the fact that they can exchange cryptocurrencies without limit. However, there are responsibilities and risks involved with this option.

    Advantages of Trading on the Binance Exchange

    Binance has become popular among traders for several reasons. While it initially started out focusing only on cryptocurrency, it expanded to make it easy to fund your account with fiat currencies or even withdraw your money to a bank account in a currency of your choice.

    It offers all the popular crypto pairs, including BTC and ETH. You can also trade pairs with Tether, BNB, and XRP. You can find lesser-known options, so it’s a good place to find cap tokens. There are several crypto and fiat pairs available for trading, so you can easily switch from USD to BTC or ETH to GBP, and so on. Since this exchange is so large, you’ll almost always be able to trade the volume of crypto that you need.

    Spot Trading

    Spot trading is available on the Binance platform. The classic interface gives you a quick overview of all the trading pairs. Even if your preferred pair is not available on the site, it’s relatively easy to get from the crypto you have to the fiat currency that you want, without paying exorbitant fees on each trade. Each pair is easy to select once you select your desired interface from basic, classic, and advanced options.

    In the classic interface, you can use order books and switch between pairs in an instant. If you wish to view charts to help with your trading, these are available in the advanced view. If you’re a beginner, you don’t need to use either of their complex interfaces. You can simply use their basic interface to trade at the market rate and avoid using charts or order books.

    Trading fees on Binance are very low. The trading fees for most transactions average 0.1% and if you’re trading the Binance Coin, you’ll be able to reduce those fees even further.

    Margin Trading

    If you’re an experienced trader who wishes to increase your potential earnings by trading on margin, you can do so on Binance. This option is only recommended for traders who have developed their own trading system and understand the risks that are associated with trading on margin.

    You can trade with leverage of up to 10 times, although this option is not provided for all coins. Binance offers both isolated margin and cross margin. With cross margin, you’ll risk the entire balance in your margin account. If you choose isolated margin, you’ll only risk potential losses with a single trading pair.

    Binance Partnerships

    Binance is involved in a number of partnerships, which have allowed it to help others in need and improve the standing of cryptocurrency around the world. Through the Binance Charity Foundation, it has led several charity projects. These include women and girls in Uganda who suffer from period poverty.

    The company is involved with launching the first blockchain bank in Malta. This is a first for the world and with the security of blockchain, has the potential to revolutionize the banking options that are offered to consumers. Binance has also signed a Memorandum of Understanding with the Malta Stock Exchange, to facilitate the trade of digital securities.

    How To Open An Account on Binance

    binance registration form

    If you want to conduct transactions on Binance, you’ll need to open an account. You won’t need to pay a fee to do this. As mentioned earlier in this Binance review, a small fee is charged on most of the transactions that you’ll do on the platform. They make money when you are trading crypto so you won’t be charged for opening a basic account.

    You’ll need a valid email address to open an account and this lets you deposit funds using cryptocurrencies. You can also withdraw funds using cryptocurrencies. You’ll have to set up two-factor authentication on your phone, via Google. This means every time you want to complete a transaction on the exchange, you may be asked to verify that it’s you by entering a code that’s sent to your phone.

    How To Trade On Binance Exchange

    You can only trade once your deposit has been credited to your account. This is usually done in less than 20 minutes, whether your account was funded via an ETH deposit, another cryptocurrency, or a fiat currency. You can click on Exchange and choose the type of trading interface that you prefer, such as advanced.

    Once you select your interface, you’ll be able to access over 540 trading pairs. For example, ETH and BTC is a trading pair that’s popular on this platform. You can purchase a coin that’s not directly paired with the type of cryptocurrency that you deposited. However, you’ll need to do an extra trade.

    For example, if you deposited ETH, you may want to purchase a coin that’s not paired with ETH. In that case, you’ll have to do an extra trade. You may have to exchange it for Bitcoin first or another cryptocurrency that’s paired with what you want. This is common in cases where you may need to get a small cap ERC-20 token.

    The coin that you’ve purchased will be available in your account as soon as the trade is completed. You can keep it in your Binance account in order to finance other trades or you can withdraw it to your crypto wallet. If you don’t want to trade manually every day but still wish to have trades in progress, Binance has a solution for you.

    You can use an API that is available to all Binance members. This can be connected directly to crypto trading bots in order to execute trades without you having to do each one. You can automate your trading strategy and may be able to profit from the trades that are completed by the bots.

    Trading Futures and Derivatives on Binance

    Binance launched its futures division in 2019. Since then, traders have been able to speculate on the price of Bitcoin. The balance of your Binance Futures account will be kept separate from the rest of your funds. This means the rest of your investment won’t be affected by a trade that goes in a direction that you didn’t intend. This is a helpful alternative for people who prefer this method of trading and are not interested in buying or selling BTC directly.

    Binance Derivatives

    You can also trade many other popular digital currencies in their futures market. For example, you can trade Bitcoin Cash, Ripple, and ETH. This platform is even better for traders who enjoy using leverage with their trades, facilitating leveraged trades up to 125 times. Bear in mind that this means traders can also sustain losses of up to 125 times. Despite that, the ability to multiply your profits through leveraging is greater than on any other platform.

    You are required to use USDT (Tether) as the collateral for your futures account. All of your profits and losses will also be measured in Tether. The interface for the Binance Futures platform looks almost the same as the regular spot trading interface. The difference is that extra functions are available for controlling leverage and viewing your open positions.

    Binance Financing

    Apart from trading futures and even using their API to conduct trades automatically, members can make money on Binance by engaging in financing. You can use funds to offer crypto loans to other members. This is a way to earn interest on idle funds, which can be placed in a flexible or locked account for that purpose. In a flexible account, your funds earn less, variable interest. In a locked account, your fixed-term deposit earns more interest for you.

    Staking and the Smart Pool

    Members can earn returns on Proof of Stake coins via the staking service at Binance. This service also lets you earn on decentralized finance coins, even if you don’t have the technical knowledge needed to stake coins on your own. These funds can be placed in flexible or locked options like those available with financing.

    You can even contribute to a mining group, which splits the rewards whenever coins are mined. Hash power is always redirected to the most profitable altcoin to be mined. This happens automatically, so you can earn without taking your attention from other ventures.

  • Crypto Bear Market: Make a Profit When Bitcoin Drops

    Crypto Bear Market: Make a Profit When Bitcoin Drops

    The crypto market is on fire, some people panic, others buy the dips, Elon Musk keeps playing with investors’ nerves, Chinese miners are always on the news, Bitcoin lost over 50% of its value. Wait, it’s happened many times before, so why panic?

    Table of Contents:

    1. How the crypto market works
    2. Crypto Bear Market Strategies
    3. Trading Strategy №1
    4. Trading Strategy №2
    5. Trading Strategy №3
    6. Conclusion

    How the crypto market works

    This is the crypto market, this is how we know it, this is how it is. In today’s lecture, I will tell you if there is a place for panic, whether we are already in a bear market, and if we are, how you can profit out of it.

    In times when the bulls are greedy, the bears are enthusiastic, and the whales are happy, it’s absolute madness. Some coins grew by over 1000%, others over 20000%. Some people call it a scam, others a bubble. For me, it’s a great opportunity to invest and earn quick profits and I am super excited about living and trading in times like these.

    I do not even really need to say that there is no need to panic. We have seen Bitcoin losing a lot of its value so many times, but in the long term, it always recovers. This is how the market works, so you must embrace it and learn how to manage it.

    Crypto Bear Market Strategies 

    So today, I will share with you how I handle the bear market. I will give you 3 different tried and tested strategies that you can use if you are holding coins, but you see the price dropping.

    So are we currently in a downtrend? Yes, we are. On the 13th of May, the BTC dropped below the recent low and we had new series of lower lows and lower highs. This is the very definition of a downtrend so there is no doubt about it.

    bitcoin price fluctuations over time
    Bitcoin price fluctuations over time

    And I know it is nearly impossible to sell all your crypto at its highest price during the bear market, and then wait for a new bull market. Maybe someone managed to, but he was either lucky, a genius or he lied to you.

    When we are in the bull market it is relatively easy, even if you have no experience and you simply bought cryptocurrency after March 2020 you probably made some decent profits up until the 14th of May when Bitcoin reached its record high nearly touching $65 000.

    I have created many lectures, courses on how I decide when to buy, what I buy, where I take the profits. I described the complete system I follow in the Cryptocurrency Investment Strategy course. You can use promo code MXW7YHW7 to get the course with a 50% discount).

    But that is the easy part, right? How about when Elon Musk says Bitcoin miners use a lot of carbon, and the price goes into a freefall. Wait, he didn’t know that back in February when Tesla bought Bitcoin? I guess he missed that information 🙂

    Crypto Bear Market – Strategy #1

    So here’s strategy number 1 for the crypto bear market. Take Profits with the coins you have that have had decent growth and swap them into USDC or USDT coins.

    For beginners, USDC and USDT are stable coins that are pegged to the American dollar.

    So no matter how far the market crashes, you won’t lose the value in your portfolio. And I will share with you how exactly I do it.

    When I have an exit signal, and I am happy with the profits I have made with the coin, I swap to USDC, for example. And the reason I swap to a stable coin is that on many exchanges you can stake and earn passive income on the stable coins.

    For example, on Crypto.com you can earn up to 12% interest so you can even profit when the market keeps dropping. The moment you see the new Bullish trend, you can start buying again.

    On my Patreon page where I share all my investments, I also shared the spreadsheet I use. There I keep track of all current coins I hold. If I buy, I add more, if I sell any, I remove them. So when the crypto market is negative, or in other words, it’s a bear market, I usually do not sell everything. I keep a bigger portion of my capital in stable coins so I can earn passive income. And when we are in a bullish market, I keep fewer stable coins and more Bitcoin, Ethereum, and all the others you can see on the spreadsheet.

    So, to make it simple, when the market is negative, I keep more of my investments in stable coins, usually in USDC. This way I earn passive income while the BTC and rest are going down. When the market recovers and starts climbing again, I start buying the Top Coins again.

    Trading Strategy #2

    And here comes strategy number 2. When the crypto market is bear (negative) always invest in the top cryptocurrencies. These are the cryptos that are well-established, that have a huge market cap, and their technology is already proven.

    Whether you are buying the dips or improving your average price, something I like to do, it’s best to put your money on the top 10 or 15 coins by market cap.

    Because we’ve already seen many times that when the crypto market starts to recover from “bear” movements the top coins are more likely to reach new record highs compared to some small altcoins that might never regain value.

    Trading Strategy #3 for the crypto bear market

    Strategy number 3 is a bit more advanced and riskier. With some of the platforms and especially with the Forex brokers that offer cryptos we can sell the asset without owning it. This is called CFD trading, and it stands for contract for difference. I will try to explain it as simply as possible.

    CFT Trading image

    I can fund an account with a certain amount of money. Let’s say $10 000 and when I see a clear crypto bear market, the Bitcoin drops and gives me sell signals, I can open a short position and sell the Bitcoin, even if I did not have any in that account.

    The sell order is a Contract for Difference with the broker that if I sell and the price drops, the broker must pay me the difference. Or the profit. Of course, if the price goes up against me, I will have a loss.

    Therefore you need to have experience in trading because shorting Bitcoin might go very wrong. Just like the huge hedge fund that nearly bankrupted shorting the GameStop. Simply put there is no ceiling for the price.

    Let’s say you sold the Bitcoin at $50 000 but instead of dropping to $30 000 it went higher to $100 000 or even #200 000, then you will be dealing with a loss of $150 000. In this case, you have to use a Stop Loss to protect your capital. Or you can use Expert Advisors, the so-called Robots, that I use and show in many of my courses. The EAs will manage and close the trade when the market goes against our position.

    To summarise, if you are buying crypto, let’s say you bought 1 Bitcoin, and you see the bear market, you can sell at the same time and avoid losses if you trade the same quantity or even have more profits if you use leverage while selling. When the market starts to reverse and you recognize the new up-trend you can close your short position on a profit and leave only the coins you have in your wallet.

    Conclusion

    I have been using these 3 trading strategies since 2018 and they worked well for me. To repeat, the 3rd strategy is a bit riskier and requires some trading experience, but you can practice it on a virtual account. 

    Let me know how you handle the crypto bear market in the comments below. I will be happy to hear some more ideas. Thank you, guys, for reading and take it easy. There’s no need to panic.

  • Stock Trading vs Investing: What is the Difference?

    Stock Trading vs Investing: What is the Difference?

    In this lecture, we will explain the difference between stock trading vs stock investing and when to select one instead of the other.

    Table of Contents:

    1. Stock Market Trading vs Stock Investing
    2. When to choose one instead of the other
    3. Current market situation
    4. Short selling
    5. The downside of short selling
    6. The risk factor in trading vs investing
    7. Conclusion

    Stock Market Trading vs Stock Investing

    So as you already may know, the market is either bullish or bearish. For the beginners, it means it’s either going up or it’s going down. For example, since March 2020, when we had the crash from the Coronavirus, we had a very bullish market after that.

    bullish stock market during covid

    Most of the stocks did unbelievable all-time records. Of course, most of that was based on speculations and not real value in the companies themselves. However, we succeeded in grabbing a lot of profits before we had a decline in March 2021.

    When we do Stock Trading vs Stock Investing

    For example, Tesla lost over 20% of its value. Many people say this will be the end of the bullish market. Others say it’s just a retracement and the market will continue positively. The truth is, nobody knows what will happen.

    This is why we do stock trading vs stock investing.

    When we do stock trading, it really doesn’t matter where the price is going.

    Are we in a bullish or in a bearish market? It doesn’t matter because we hold the trades for a couple of hours or a couple of days.

    Current market situation

    Also, when we do stock trading, it’s easy to follow a couple of different stocks and take advantage of their movements. And sometimes, even if we are in the bullish market, so let’s say the market, in general, is positive, most of the stocks are going up. The indexes, Dow Jones, S&P, everything goes up.

    However, within the day, some Stocks might drop, others might increase in value. And it doesn’t matter for us, right? Because we are taking the trades based on the current market conditions. We follow the strategies, the indicators, and we took the trades based on the current market situation.

    So it really doesn’t matter if the market is going up the last three months or it’s going down. However, having different Stocks allows us to diversify the risk. So, for example, if Apple is going up today, but Google is going down, we can buy Apple and sell Google. It doesn’t mean that if the market is bullish, we have to buy Apple, Google, and all the other Stocks. Right?

    Short selling

    We are looking at the current market situation, and this is exactly why we use exact strategies to follow when we do trading. Also, when we are trading, we can benefit by selling the Stock. And it’s a little bit different from short selling, which is most popular when it comes to stock investing and speculation.

    short selling stocks

    So when investors do short selling, basically they are speculating that the price will lose its value. And with simple words, how that works is, if the investor or the hedge funds do the short selling, basically he would be borrowing the shares from the broker, selling them, and he has to buy them at one moment. Right?

    So, for example, let’s say Apple is at $120 at the moment and one does short selling, they borrow the Stocks from the broker, they sell them. And if the price drops to $100, for example, they can buy them back and they will benefit from the difference of these $20 per share. So with very simple words, this is how short selling works.

    The downside

    Now, the problem is that there is no limit for the losses, right? Because Amazon, for example, does $2,000, $3,000, it can reach $5,000. There is no limit. Right? So all of that will be a loss for that investor who did the short selling. And at one moment, they will be just forced to close the position because they won’t be able to handle any more losses.

    This is what happened with GameStop and the hedge fund that did the short selling. But the mass of small investors that were organized in Reddit and especially Reddit called the Wall Street mess. But I’m not going into detail. This is what just happened there. The hedge fund did a short sale for GameStop.

    The mass of investors was much stronger, they pushed it and a huge hedge fund went into trouble. Now, when we do trading, we don’t take that risk because if we sell the Stock, we do it for a very short interval of time. A couple of hours could be a couple of days, we use a Stop Loss. Basically, we sell it but we say, OK, if the price goes another, for example, $20 higher, we are out.

    Stock trading vs investing – what is the risk

    And we don’t take any further risk because as I said, with short selling, the risk is unlimited. While when we are buying, there is no such risk because if we buy Apple at $120, the worst-case scenario is the share to drop to 0. So we would be losing the $120 per share. But when short selling there is no limit, there is no rooftop of the price.

    But one more time, when we do trading, we actually open the trades for a short time, a couple of hours, a couple of days, maximum a few weeks. Depends on the market, but we have a Stop Loss that will limit the loss immediately if the price goes against us. And very similar to stock investing where we want to have a portfolio of stocks, this is what I do as well.

    Conclusion

    So when I invest in the long term, I keep a couple of stocks, or I have a basket of stocks. So very similar when we trade, we would like to have different stocks that will diversify the risk. As I said, we could be buying Apple, selling Google at the same time, we could be buying Amazon, selling Facebook. Depends on what the current market situation is.

    So this is basically the difference between stock trading vs stock investing. At EA Trading Academy you can see learn more about stock trading works and what type of strategies we use when we do stock trading.