Tamer Sameeh April 30, in ArticlesFeatured 20 Comments Altcoin flipping can be a highly rewarding way to make money online.
Throughout this tutorial, I will present you with some useful tips that can help you make good profits via altcoin flipping. Dividing your capital into trading lots: Whatever the amount of your capital, I recommend dividing them into five equal trading lots. So, if your capital equals one bitcoin, you will divide them into five equal trading lots; 0. My strategy is to use 4 lots to buy 4 different coins and leave the fifth lot to use whenever good trade entry points emerge in the future.
For example, a capital of 0. Picking Up Coins To trade: The great thing about crypto is that whatever the size of your capital is, you can find coins whose prices are suitable for you to trade and make profits.
However, the size of your capital will highly determine which coins you can trade for profit. Let me give you an example, if your capital is worth only 0. For a capital that is worth between 0.
I will give you an example of a portfolio that is worth 0. Now, let me show you an example of a portfolio of coins for a capital which is worth 2 BTC: For more a riskier trading approach, if your capital is greater than 0.
What are altcoins?
I usually divide my 5th trading lot into equal sub-trading lots and use them to speculate on coins such as ripple, synero AMP, steem, dogecoin, golem, gridcoin, bitshares, stratis, pinkcoin and others. The list is changeable and depends on many things. So, to pick good coins to flip, I rely on the following and you should also do so: Trading volume on Poloniex: Like I mentioned in the previous tutorial, most of my altcoin flipping, i.
So, I keep an eye on the trading volume on Poloniex, because in most cases, coins with the highest trading volume, represent good profit opportunities, especially when you know when to jump in, i. Newly introduced coins on Poloniex: When a new coin market is opened on Poloniex, it usually witnesses very high trading volumes and extreme volatility the few days following establishment of the market.
New coins usually represent good profit opportunities, especially if you know when to jump in and when to jump out. Although new market openings can be profitable, they are also usually associated with extremely high levels of volatility, so you have to know when to buy and when to sell.
High volatility usually occurs during the first two weeks following opening the market on Poloniex. After this period, price somehow stabilizes and the real market value of the coin prevails. Following cryptocurrency related news is crucial when it comes to picking profitable altcoins. I mainly follow the news of crypto via going through the following almost every day: Bitcoin news networks such as Deepdotweb.
Coin adoptions by marketplaces on Tor and other Darknets: Accordingly, new market adoptions of cryptocurrencies can take the prices of these coins to the moon.