What factors to consider when trading cryptocurrency?
As hard as it may seem, trading in cryptocurrency can not be handled with levity.
This is because the crypto market is a very volatile one that one must tread with caution before one can buy or sell.
The crypto market has continued to evolve as we have progressed at a super-fast speed, from trading in bitcoins to trading in other cryptocurrencies.
With this in mind, we have identified the key things you should consider before you buy or sell bitcoins and other cryptocurrencies.
As a beginner in cryptocurrency, it is essential to consider these factors before you begin trading.
- When to sell your cryptocurrency: Knowing the best time to sell your Bitcoin, Ethereum, and other cryptocurrencies is essential. The best time to sell your Bitcoin, Ethereum, Solana, and so on is when you have made just the right number of profits. This means you should have probably earned two or three times higher than what you have invested in your preferred cryptocurrency.
- When not to sell your cryptocurrency: You should know that panic selling, probably when there is a dip in the market, is not the right time to sell your coins. This is because you might run at a loss.
Things To Consider Before Selling Your Cryptocurrency
What trading platform to use
Selecting the right trading platform is essential to ensure all your crypto tradings are secure and legal. This is why a platform such as Binance and Apex Network is reliable to ensure super fast, safe, and legal trade in all forms of cryptocurrencies.
With Apex Network, you can quickly sell, receive, and send Bitcoin, Ethereum, and other cryptocurrencies.
Sign up for Apex Networks here.
How To Use Apex Network For Your Crypto Tradings
- Input your login details after creating an account with Apex Network.
- Click on the preferred cryptocurrency you want to trade in and select the action you want to carry out.
- To receive, click on accept, select the cryptocurrency of your choice (e.g. bitcoin), copy the code or scan the QR code to send the chosen cryptocurrency to the address provided.
- To send, click on send, input the preferred amount, and input the recipient’s address to send.
- To sell, click on sell, input the specific amount you want to sell, and click on sell.
The Exchange Rate Of Your Country
The exchange rate the selected platform you want to opt for offers is an essential factor to consider before selling your cryptocurrency. This would put into perspective if you are selling at a loss or to make more profit. Apex network offers the best exchange rates for Nigerians to trade their cryptocurrencies easily.
How Simple It Is To Sell Your Cryptocurrency
It is essential to check if your chosen platform makes selling and withdrawing your funds accessible. An option that makes withdrawal complicated and hard should not be considered, as a seller could run at a loss or lose whatever coin they possess. Apex Network allows you to complete your transaction in 4 easy steps: click on sell, enter the amount, and complete the transaction by clicking sell.
Are There Additional Charges?
Before you sell your preferred cryptocurrency, it is essential to identify any additional charges when completing the sale and, if there are any, how much it would be. Options that do not disclose if there are extra charges should not be considered, as you might get less than the actual amount you are supposed to get on every transaction you carry out.