Smart Tricks for BTC to ETH Trading
The ETH and BTC is a popular cryptocurrency pair as it consists of the currencies being the most popular on the market. It means that the development of the specific trading strategy for these currencies can be based on the analysis of fundamental factors influencing the crypto market. You have to analyze the exchange rate in dynamics to find the best time for trading this pair. There are several important steps for you to follow in order to succeed in this process.
Steps for Successful Trading ETH to BTC
The starting point for any exchange operations in the crypto world is the choice of a crypto trading platform and setting up your account there. For example, on paybis.com you can buy and sell cryptocurrencies using a variety of (often unusual) payment methods. In some cases when the platform is totally anonymous you can skip this step and make the transaction without filling in any personal data except your Bitcoin or Etherium address.
The next important step is the formation of the trading plan. This step will help you to get the emotions out of your trading strategy. You have to base your transactions on analytical factors.
Explore these tips to develop a successful plan:
Set up clear goals
You have to understand the final result you’re planning to achieve. The best thing is to express this goal in real data. For example, you’d like to grow the value of the crypto portfolio by 30% in a year or the annual growth rate of your crypto portfolio has to reach 20%.
Research the market
Ensure you know everything about Bitcoin and Etherium latest developments, investigate expert opinions, examine the previous price movements, use technical analysis tools or choose an expert to follow on a regular basis.
Determine your risk ratio
as you understand the crypto market is still under development and any investment performed here is riskier than some traditional investments (like the stock market, for example). Hence, you have to define your own risk-reward ratio for future transactions and stick to it.
Choose the reliable trading platform – when you are trying to define the perfect etc to btc converter pay attention to the ones with fixed exchange rates, high-security level, 24/7 technical support, and easy navigation. Do not forget about anonymity, especially if you plan to exchange large sums.
Some Additional Tips and Tricks for ETH to BTC Exchange
Let’s imagine that you’ve made a decision to work with ETH and BTC pair in your crypto transactions. One of the most interesting questions that many investors place is: whether they have to convert all ETH to BTC and vice versa. The minded investor never puts all his eggs in one basket due to several reasons:
Diversification
When the market is new it’s always a good strategy to invest your money into several cryptos and analyze their dynamics. Once the one crypto goes up the other might lose its positions, but your portfolio will remain stable.
Psychology
There are various factors manipulating markets these days. You never know why Bitcoin gains 10% growth one day or drops by another 20% the other day. You can analyze the market from sunset until dawn, but there are always some hidden factors. Hence, diversification is your best friend here.
Timing
The crypto market is still under development and investment in any coin is a long-term strategy, hence trade with short amounts, learn the rules of the game and hold sufficient sums for the future.
You’ve probably got a general idea here. Once you’ve decided to include crypto within your investment portfolio, it’s essential to grasp that it is a long-term thing. Hence buy/sell/hold strategy is the best combination at this point. Don’t think that betting on a one-horse it’s intelligent. The key to security is diversification.