I managed to double my cryptocurrency trading capital during March. I have been flipping altcoins We will define altcoin flipping later on during this tutorial since I traded across many cryptocurrency exchanges including Poloniex, Hitbtc, Bittrex and Cryptsy which ended by an exit scam by its owner Paul Vernon. Trading cryptocurrencies is highly risky due to high volatility of prices of most coins.
Constantly profitable trading is not impossible, yet it requires continuous studying of candlestick charts, oscillators and indicators; researching through the technologies behind various cryptos to determine the most promising ones; and following up news related to adoption, protocol updates and mainstream mentions.
Always try to trade only what you can afford to lose, until you develop the necessary skills and knowledge to risk a larger capital. What is Altcoin Flipping? Altcoin flipping refers to day trading of various altcoins. If you are flipping altcoins, then you are buying and selling them for bitcoin, rather than fiat currencies.
Note that most altcoins can only be bought via bitcoin, not via fiat currencies. Only a handful of altcoins can be bought via fiat currencies including ethereum, monero, ripple, ethereum classic, dash and a few more. Altcoin flipping is a form of cryptocurrency trading approach followed by many cryptocurrency traders and speculators.
When you trade altcoins for bitcoin, you can use cryptocurrency exchanges such as Poloniex. So, now as we know what altcoin flipping is, let us start our tutorial: So, you can either buy some bitcoin using a service like Paxful.
Here are a few examples of ways to earn some free bitcoin: Minergate is a cryptocurrency mining service that offers a simple software that can enable you to mine some altcoins using your PC.
After installing the software, launch it. The best option, according to current market prices, is to mine Bytecoin BCN as its price has rose from 4 satoshis to 14 satoshis.
I can mine around 2, Bytecoins a day with this laptop, which is worth around 40 cents. With a newer PC, you can make up to 70 cents per day mining Bytecoin. We have presented before a detailed article about altcoin mining using a PC or a laptop, please refer to it for more details.