Ever since it emerged in 2015, Ethereum earned a lot of attention from digital transaction enthusiasts. You don’t trade Ethereum, but it’s token which is known as Ether. First of all, Ethereum represents the popular digital payment platform that works according to Blockchain technology. As we have seen the popularity cryptocurrency has received over the past few years, it won’t be wrong to say that the new digital coins will draw a lot of attention in the coming years.
Bitcoin was the first digital coin, which is still famous across the world. But considering its increased volatility and delayed transaction, people have shifted their interest to better digital currencies such as Ethereum. Ethereum offers a publicly accessible digital platform where all the Ether transactions are recorded. It ensures fair and safe transactions with a minimum volatility rate. In this post, we will walk you through the essential steps for conducting ETH BTC trading. Let’s get started.
Open an Account
To be able to process your payment in Ether, you need to open a leveraged trading account. There are many Ethereum-based platforms that help users create their trading account in minutes. Search for the right platform, sign up with the website, create your digital trading account, and deposit some funds.
Don’t worry if you have never processed Ethereum transactions before. The Ethereum platforms offer a 24/7 live chat support system for beginners and existing users. Alternatively, you can also opt for an exchange account. However, it can take days and even weeks to get your exchange account request approved.
Create an Ether Trading Plan
Once your trading account is created, it is time to develop a perfect and flexible trading plan. Let’s see some important tips to consider while developing the Ether trading plan.
- Develop the trading plan according to your final objectives and monthly goals
- Choose the market you want to trade and stay up-to-date with the latest trends and news on that market.
- Decide the total risk you are ready to bear on the overall Ethereum trading. Based on this information, estimate the risk-reward ratio.
Without a proper trading plan, Ethereum trading might turn out a challenging process.
Conduct Thorough Research
So, you are all set to get started with the first position. But, have you researched Ethereum and its latest development news? You must stay up-to-date with the current and trending news around Ether and Ethereum.
You will find plenty of analysts’ views on Bitcoin, Ethereum, and other Cryptocurrency coins. This estimation and analysis will help you make informed trading decisions. Whether you want to buy BTC with a credit card or trade Ether, consider the trending development news and forecasts to use this Crypto coins wisely.
Place a Trade
That’s it! Search for the Ether trading platform and access the deal ticket. Choose the amount you want to trade, fix stop limits (to reduce risks), and press the buy or sell button to process your first Ether trade.