Making Money From Cryptocurrency Trading – Do you want to know how to trade cryptocurrencies and make money? Even if you’ve heard about friends, colleagues, or investors making money trading cryptocurrencies, figuring out how to successfully trade cryptocurrencies and make 100x your profits can be challenging. In this article, we will not only show you how to trade cryptocurrencies, but also how to avoid the three biggest pitfalls that pose challenges for inexperienced cryptocurrency traders.
Finding the right cryptocurrency for your trading is never easy. With Moralis Money, you get unbiased on-chain data so you can easily find the coins that suit your trading strategy.
Making Money From Cryptocurrency Trading
With this data you can find the latest coins and understand which currencies experienced buyers are interested in. Plus, using Moralis Money is completely free!
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For professional traders, the Moralis Money Pro plan is a suitable option. This will give you access to real-time on-chain data so you can stay ahead of the curve and react to new token opportunities before they explode.
Today you can experience the power of Moralis Money using the interactive widget below. Try one of our pre-built filters, or create a custom filter that combines the metrics of your choice!
The group of experienced traders behind this unique tool managed to find EGLD and MATIC before the prices of these cryptocurrencies increased:
Additionally, at Moralis Money, our users were able to detect HEX as it prepared for another price increase. Here’s a tweet to prove it:
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For users using data provided by Moralis Money, their earnings increased by 400%:
The first thing you need to do is set up a Web3 wallet. Needed to store cryptocurrencies and interact with the Web3 platform.
There are many different options to choose from. The wallet you choose should depend on your preferences. For example, it depends on which network, utility, etc. you want to sell.
We recommend using MetaMask as it is one of the most popular wallet providers. Additionally, MetaMask is compatible with most EVM-based blockchain networks.
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With a Web3 wallet, you need to choose a cryptocurrency trading strategy. For example, do you want to get into cryptocurrency day trading? Or are you looking for a long-term strategy? These are questions you need to ask yourself.
Once you choose a strategy, you need to find assets. This is where Morales currency comes into play. With the token explorer feature, you can easily find tokens that fit your strategy and criteria.
Once you know what properties you’re looking for, all that’s left is to buy them. To do this, there are two main options:
To use a centralized exchange like Coinbase, all you have to do is set up an account, deposit fiat currency, and start buying.
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When using a decentralized exchange, you need to add assets to your Web3 wallet in the form of tokens or coins. From there, you can connect your Web3 wallet to the exchange and start buying the coins that interest you.
Trading cryptocurrencies is easy, especially when you have a tool like Moralis Money to help you find the right assets to buy!
The cryptocurrency market is huge, and while most people have heard of Bitcoin and Ethereum, there are thousands of altcoins to choose from. This is why it is useful to have good trading tools to understand the cryptocurrency market.
At Moralis Money you can find powerful altcoins before the masses. Additionally, you can track real-time on-chain activity like never before.
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Moralis Money is specifically designed to solve traders’ FOMO, scam and time constraints issues with the following features:
With these three features, you can find the best cryptocurrencies to buy today. Additionally, it provides powerful analytical insights, which means you can make accurate cryptocurrency predictions.
It also allows you to analyze the market and answer questions like why are cryptocurrencies happening now? Or when will cryptocurrencies come back?
But for more information about the features of Moralis Money, join us for the next part where we will show you how to use Token Explorer when trading cryptocurrencies!
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However, the magic of Moralis Money is that you can combine different indicators to create custom filters. We’ll show you how this is done with a short example.
Next, we click “Add another filter” and apply the “Experienced Buyer” metric. By adding this filter and specifying “at least ten” this week, we see that the coin is getting more popular:
This is just an example, you can add any criteria to create a search query that suits your needs. There are currently eight indicators available:
The Moralis Money team works hard to add new indicators every day. This means you can expect new filters soon, allowing you to set more precise filters!
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Unfortunately, the cryptocurrency market is full of malicious actors trying to scam you. With Token Shield, you can protect yourself from potential cryptocurrency scams like never before!
When using Token Explorer, you will see the shield symbol associated with each coin. This symbol contains a number, the DEXT security token.
The DEXT score is a measure of a project’s credibility. It is calculated using an algorithm using multiple factors. This includes social information, currency pair liquidity, transaction volume, token holders, etc.
You also have the option to click on any shield symbol. Doing so will take you to the following page where you can read more about the DEXT score and how it is calculated:
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Additionally, we recommend integrating Token Shield functionality into your own research. This is necessary because the DEXT score does not measure the quality of the project.
Our experienced team of developers is working hard to add more security information. In the near future, information security will improve 10 times. This way, you’ll quickly be able to make a more informed decision when trying to find the best cryptocurrency to buy today!
The last core feature is token alerts. Using this feature, you can set up email notifications for all saved search queries. By doing this, you will be alerted when something happens in the chain that matches your filter.
After creating a new custom search query, you can navigate to the Account tab. There you will find your filter. To set an alarm, you simply press your filter’s bell button:
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If a coin matches your filter criteria, you will receive a real-time email notification. This means you’ll never miss out on an opportunity again, and you don’t need to work in crypto full-time!
This feature is not yet available. However, the team is working hard every day to roll out token alerts. This means you can expect this feature in the coming months. so,
In the demo above, we focused primarily on the Ethereum network. However, you should know that Morales Money is cross-chain compatible!
Morales Money shares are available on many chains, including Ethereum, Polygon, Binance, Arbitrum, Fantom, Optimism, and more.
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To change networks, you need to select another series using the drop-down menu in the upper right corner:
If you are new to this space, you may be asking yourself, how do I trade cryptocurrencies? Well, you can successfully trade cryptocurrencies in three simple steps:
The most difficult step is choosing the right property. This is an effect of the size of the cryptocurrency market and common pitfalls such as FOMO, scams, and lack of time. However, the easiest way to avoid these problems is to use Moralis Money!
With Moralis Money Token Explorer, you can find coins before anyone else and avoid FOMO. By using Token Shield, you can protect yourself from scammers. Finally, with token alerts, you’ll receive real-time notifications when new opportunities arise.
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Plus, did you know you can use Moralis Money for free? You don’t have to connect your wallet to Web3 if you don’t want to.
However, for professional traders we recommend connecting to your wallet. This gives you the opportunity to purchase the Professional plan. By upgrading to Pro, your question time ranges will be narrower (daily and hourly), you can save more custom questions, collect more Moralis Money Beans, and more!
If you liked this tutorial, you should also check out our guides on how to find a new cryptocurrency before everyone else does, or learn about the MATIC Cryptocurrency Price Prediction.
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