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March 24, 2018

Trading cryptocurrency with Cryptopia – Cryptopia Review

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Trading in cheaper altcoins is the main benefit from using Cryptopia

For someone who is just becoming familiar with trading cryptocurrency, it might seem a bit confusing to decide which trader you can use to start trading Bitcoin, Litecoin, or many of the other coins available for trading. Because on a daily base, more crypto coins and ICO’s are added to the markets, and not all of them are available on all trading exchanges. So you better select the right one for you before you start.

Registering and Trading with Cryptopia is clear and secure

To start just register at Cryptopia with your email address and create a secure password. Then create a pin code that you will use as extra security. Once you validated the link you will receive in your email inbox, you are almost ready to start trading on Cryptopia.

Increase security with Google Authenticator

It is important that you secure your account with Google Authenticator in order to ensure more security against hackers. We have experienced ourselves that you really need to do this as the pin code can be hacked too, allowing a stranger into your Cryptopia account.

Using Google Authenticator on your phone is very easy to setup and is currently probably the best way to secure your account against hackers that use a script.

Buy Alt coins on Cryptopia at lower trading rates

That’s right if you are looking to trade in the cheaper range alt coins of the cryptocurrency market, Cryptopia is your place to be. It allows buying cheap coins with a minimum investment. You can do your own research on which coins you believe will rock the sky in the future. Buy them when you can buy cheap and large. If that altcoin rises in the nearest future or even in a few days time, you can take your profit by selling the coin and converting it back to i.e. Bitcoin. This is how you can make serious profits over time on Cryptopia. Here is an example of how we did it:

Spread your investment in Cryptopia just as any other portfolio

The key to trading on Cryptopia is spreading your risk, just as in any other investment. So you should expand your portfolio with a set of altcoins that keep your main value stable. At least half of your balance needs to be covered by strong coins like Bitcoin, Bitcoin Cash, Ethereum, Neo, Litecoin, DogeCoin. This ensures that your risk is not too high, and you keep your chances of buying more cheaper coins with the profit you make from the strong coins.

Be careful when investing in new cryptocurrency coins or ICO’s

Many coins in the cryptocurrency market have been created following the Bitcoin hype. Some of them have no value or purpose at all, other than speculating and trying to get your money. Do your research before investing in any coin. Just Google any crypto coin and look for their website presenting the project and the road map of what they try to achieve. Look into the past of this coin with CoinmarketCap. It will give you a good feeling of how to value this coin and find out if it is used only for speculating.

Review the historical data from lower coins to estimate the future value

 

 

 

 

 

Beware of Pump and Dump coins that are born to manipulate.

As with every project that requires funding, it comes down to what they achieve that makes a difference in value. By reviewing historical graphics from trading, you can estimate the future value of a project in the cryptocurrency market. With most lower coins you can even see if it is a “pump and dump” coin.

Pump and Dump coins are used by big investors who want to create a hype for a particular crypto coin in order to attract more investors. Once more investors followed, the first investor sells his crypto coins and collects the profit, leaving the other investors with the loss.