The upcoming 5 sections will walk you through the beginnings of using and trading cryptocurrencies like Bitcoin. Let’s get going!
Section 1:
Which Coins do You Want to Trade?
When it comes to trading, cryptos have similarities to stocks. There are stable coins like Bitcoin with relatively low volatility (means less profit, but also less loss if it goes the other way) and several altcoins with enormous volatility (huge profits possible, but also big losses). It’s a common practice to hold the biggest amount in a stable coin like Bitcoin and use it for trading other coins.






Section 2:
Choose Your Trading Platform
The trading platform is THE market place to exchange Bitcoin (or Ethereum) for basically any other crypto coin. For the purpose of just getting it or to trade it with profit.
These are the places to get Bitcoin or other cryptocurrencies with relatively low fees – see the column „fiat“ (fiat money = currencies like Dollar or Euro). On the respective exchanges you can exchange fiat money for cryptos.
Here’s concise information on a professional selection. Also, our personal favorites are marked.
Name |
Coins |
Liquidity |
Trading Fee |
Withdrawal Fee |
Fiat |
US- residents |
Link |
146 coins 374 pairs |
$885.584.570 |
0.1% maker 0.1% taker |
0.0005 BTC |
NO |
YES |
||
163 coins 443 pairs |
$1.068.510.802 |
0.1% maker 0.15% taker (lower for VIP) |
0.004 BTC |
USD wire transfer/ credit card |
NO |
||
14 coins 32 pairs |
$116.868.724 |
0,3 % maker 0,0 % taker |
free |
USD/EUR/GBP wire transfer |
YES |
||
164 coins 376 pairs |
$896.139.083 |
0.2% (lower for VIP) |
0.0001 BTC |
NO |
YES |
||
226 coins 317 pairs |
$54.702.657 |
0,25 % maker 0,25 % taker |
0.001 BTC |
USD/EUR/GBP wire transfer |
YES |
||
60 coins 109 pairs |
$1.041.784.785 |
0.2% per trade |
0.0003 BTC (vary by token) |
NO |
YES |
||
22 coins 70 pairs |
$148.395.267 |
0.2 % taker 0.1 % maker (lower for VIP) |
0.0006 BTC |
USD/EUR/ GBP/JPY wire transfer |
NO |
||
BTC only P2P |
$1.336.624.183 |
0.075% taker -0.025% maker |
0.000154 BTC |
NO |
NO |
||
11 coins 35 pairs |
$1.927.556 |
0,16 % maker 0,25 % taker |
0.001 BTC |
USD/EUR/GBP credit card wire transfer SEPA transfer |
YES |
Source for ‚liquidity‘: https://coinmarketcap.com/rankings/exchanges @ 18.04.2019
Section 3:
Choose Your Charting Tool
If you really want to unleash the power of professional trading we strongly suggest you make use of a professional charting tool. This will help you keep track of your portfolio, set alerts efficiently and do great technical analysis.
Here are our recommendations and our undefeated personal favorite:
TradingView
The Allrounder- 25 Crypto Exchanges
- Includes Stocks & Forex
- Massive amout of indicators
- Free Version available
- No Exchange Integration (API)
- No SMS Alerts
Coinigy
Our Favorite - The Crypto Pro- 45 Crypto Exchanges
- All Exchange & Coin Data in one Spot
- Exchange Integration (API)
- Mobile Alerts
- SMS Alerts
- Free 30-day trial
CryptoWatch
Everyday Regular- 25 Crypto Exchanges
- Easy to pick up
- Mobile Alerts
- Free version available
- No Exchange Integration (API)
- No SMS Alerts
Section 4:
Choose Your Mobile Charting/Alerts Application
You’ll also want to have an eye on your portfolio on the go. For this matter we’ve arranged a selection of mobile charting and/or alert tools which will make you live the easy life on the go.
Here are our recommendations and again our undefeated personal favorite:
Application |
Benefits |
OS |
Price |
Link |
-Connected to Coinigy -mobile trading -charting tool -all in one -exchange API integration –sync across multiple devices -alerts & notifications -Our absolute favorite |
Android, iOS, Chrome & Firefox Plugin Web, Google sheets integration |
included in your Coinigy subscription! |
||
-clean look -charting tool -overall portfolio graph -handles multiple portfolios ->200 exchanges & coins -wallet integration -exchange API integration –sync across multiple devices -alerts & notifications -detailed trading analysis |
Android, iOS, MacOS, Windows, Linux |
~70 $/y free version available |
||
-very popular -candle stick charts -overall portfolio graph -price alerts |
Android & iOS |
free |
||
-exchange API integration -wallet integration -extensive coin details -personalized news -Web-version available |
Android, iOS & Web |
39,99 $/y |
Section 5:
Choose Your Wallet – a Matter of Security
For security reasons you shall never leave more assets on an exchange than what you trade daily and/or are ready to lose without tears. Bigger amounts of cryptos should be stored in wallets, preferably cold storages like hardware wallets.
Here’s a brief comparison followed by a detailed info on the different wallets:
Hardware Wallet
- Security 100%
- Durability 100%
- Handling 70%
- Price 90%
Paper Wallet
- Security 70%
- Durability 40%
- Handling 85%
- Price 0%
Software Wallet
- Security 40%
- Durability 70%
- Handling 90%
- Price 10%
Mobile Wallet
- Security 25%
- Durability 55%
- Handling 100%
- Price 10%
Hardware Wallets – Our Personal Favorite for Your Security
Hardware Wallets come in the size of a USB stick or a credit card. Most of the time you need a computer or smartphone to use them. They’re designed to store the majority of your cryptos safely and are admittedly a bit circumstantial but thus quite unhackable.
Albeit unhackable, make sure to buy it from the official website! There have been reports of people having their money stolen after they bought a used wallet.
Here is our selection (some vendors offer different models) with links to the official websites to retrieve them safely:
Ledger Nano S
affordable security- 1100 different coins in theory
- Size of a USB stick
- Good value for your money
- USB OTG ready
- Limited to 3-4 coins at a time due to storage
Trezor Model T
Jack of All Trades- more than 700 different coins
- NO memory limit
- Bluetooth support
- USB OTG ready
- Advanced security
- Vendor offers great add-ons
- Bitcoin wallet choice #1
Cool Wallet
The Unicorn- 5 currencies + ERC20 tokens
- Shape & size of a credit card
- Bluetooth
- USB OTG
- Low market share
KeepKey
The Big Toy- 7 coins + ERC20 tokens
- Passphrase protection
- In-Wallet exchange
- No Bluetooth or USB OTG
- Size of 4 USB sticks
Paper Wallets – A Matter of the Respective Blockchain
Paper Wallets are simply a sheet with your public crypto (i.e. Bitcoin) address, your strongly confidential private key (NEVER EVER give it anyone! Under NO circumstances! This IS the access to your funds.) and maybe a QR code. Most people print it on an A4 paper, hence the term ‚paper wallet‘. You do get this piece of information when you create a wallet on the blockchain in question.
If you lose it, it’s irretrievable. If any unauthorized individual gets to read the information, your funds may be stolen. And don’t think you’ll be cool storing it in a digital note.
If you still decide to go for this option, we strongly suggest to get a CryptoSteel right here – for the sake of the safety of your funds!
Software and Mobile Wallets – Convenient but Unsafe
We do not recommend the use of such for holding large funds. Briefly explained: your computer or phone running the software may always be compromised without you noticing and this is more than no fun when it comes to your monetary means.
Mobile Wallets come in handy, if you want to pay your latte on the go though.
Here are the ones we personally used for small sums:
Wallet |
Coins |
OS |
Pros |
Cons |
Link |
more than 60 |
Windows, Mac, Linux, Android, iOS, Chrome Extension |
-solid & well-kown -multi-platform -multi-curreny |
-relatively low security -easy to be hacked -bad support |
||
more than 100 |
Windows, Mac, Linux |
-solid & well-kown -multi-platform -multi-curreny -highest number of different coins -easy to use -great support -popular among users |
-relatively low security -easy to be hacked |
||
Ethereum ERC-20 tokens |
Chrome Extension & Web |
-light weight -relatively secure -accessible from anywhere -supports Ledger |
-Ethereum only -may be hacked |
Section 6:
Crypto Courses
For those who are serious about their money and the journey of accumulating riches, our partners at Skill Incubator offer the best crypto courses available. In the following boxes you find the course to fit you – they’re structured in a way to walk you from the bottom to the top of trading. Every single one of the courses is held by successful professionals who breath crypto currency trading. Join us and enjoy the ride!
Bitcoin Basics: How To Profit In The New Cryptocurrency Economy
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