{"id":592,"date":"2018-11-16T00:48:56","date_gmt":"2018-11-16T00:48:56","guid":{"rendered":"https:\/\/icoholder.com\/blog\/?p=592"},"modified":"2025-06-16T15:04:16","modified_gmt":"2025-06-16T15:04:16","slug":"support-both-cryptocurrencies-instead-to-maximize-profits","status":"publish","type":"post","link":"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/","title":{"rendered":"Support Both Cryptocurrencies Instead to Maximize Profits"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#A_Closer_Look_At_Altcoin_Trading\" >A Closer Look At Altcoin Trading<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#The_Short-Term_Trading_Strategy\" >The Short-Term Trading Strategy \u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Advantages_of_Short-Term_Trading_Altcoins\" >Advantages of Short-Term Trading Altcoins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#The_Main_Disadvantages_of_Short-Term_Crypto_Trading\" >The Main Disadvantages of Short-Term Crypto Trading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Long-Term_Trading_Strategy\" >Long-Term Trading Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Advantages_of_Long-Term_Crypto_Trading\" >Advantages of Long-Term Crypto Trading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#The_Main_Disadvantage_of_Long-Term_Altcoin_Trading\" >The Main Disadvantage of Long-Term Altcoin Trading<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Important_Things_You_Need_To_Know_About_Crypto_Trading\" >Important Things You Need To Know About Crypto Trading<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Avoid_Getting_Influenced_By_Others_When_Trading_Cryptos\" >Avoid Getting Influenced By Others When Trading Cryptos<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Only_Invest_What_You_Have_And_Are_Ready_To_Lose\" >Only Invest What You Have And Are Ready To Lose<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Do_Not_Invest_Only_In_One_Portfolio\" >Do Not Invest Only In One Portfolio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#Make_Sure_To_Effectively_Manage_Risks_When_Trading_Tokens\" >Make Sure To Effectively Manage Risks When Trading Tokens<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#How_To_Start_Trading_Altcoins\" >How To Start Trading Altcoins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/#The_Final_Take\" >The Final Take<\/a><\/li><\/ul><\/nav><\/div>\n<figure id=\"attachment_636\" aria-describedby=\"caption-attachment-636\" style=\"width: 251px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-636\" src=\"https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/altcoins__.png\" alt=\"altcoin\" width=\"251\" height=\"251\" srcset=\"https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/altcoins__.png 200w, https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/altcoins__-150x150.png 150w, https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/altcoins__-60x60.png 60w\" sizes=\"auto, (max-width: 251px) 100vw, 251px\" \/><figcaption id=\"caption-attachment-636\" class=\"wp-caption-text\">Source of image: <a href=\"https:\/\/altcoin.io\/\">https:\/\/altcoin.io\/<\/a><\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Altcoin trading is very popular right now, helping people become millionaires. Most investors support both cryptocurrencies instead of choosing just one. Do you anticipate joining the millionaire\u2019s club? Well, you need to be prepared because it is no easy task!<\/p>\n<p><span style=\"font-weight: 400;\">To successfully trade altcoins, you need to know the dynamics of crypto markets because altcoin trading is a risky undertaking. You may hear that\u00a0<\/span><a href=\"https:\/\/www.nytimes.com\/2018\/01\/13\/style\/bitcoin-millionaires.html\"><span style=\"font-weight: 400;\">people have made millions trading cryptos<\/span><\/a><span style=\"font-weight: 400;\">, but there is an equal<\/span><a href=\"https:\/\/www.forbes.com\/sites\/davidthier\/2018\/01\/16\/i-just-lost-3000-investing-in-ripple-and-tron-and-its-a-dangerous-feeling\/#52df85216d42\"> <span style=\"font-weight: 400;\">number who have lost significant sums<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><a href=\"https:\/\/www.natureforex.com\/what-is-crypto-trading\/\"><span style=\"font-weight: 400;\">Crypto trading<\/span><\/a><span style=\"font-weight: 400;\"> is like buying and selling in the forex markets. However, fiat trading operates under strict monitoring of key players (especially central banks of different jurisdictions), while cryptocurrencies are not regulated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The free operation model of altcoins has makes them highly volatile. Therefore, how can you trade profitably in the market? This post is a complete guide to help you understand altcoins and how to trade them. Here is where you will learn about the tricks that experts use to rake in millions trading altcoins.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Closer_Look_At_Altcoin_Trading\"><\/span><b>A Closer Look At Altcoin Trading<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before exploring the inherent aspects of altcoin trading, it is important to understand the term \u201caltcoin.\u201d This term is used to refer to cryptocurrencies such as <a href=\"https:\/\/icoholder.com\/blog\/best-ethereum-exchange\/\">Ethereum<\/a>, Loopring, and <a href=\"https:\/\/icoholder.com\/blog\/best-trading-platform-for-ripple\/\">Ripple<\/a> that are considered alternatives to\u00a0<\/span><a href=\"https:\/\/www.coindesk.com\/information\/what-is-bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading cryptos means exchanging one coin for another in exchanges such as<\/span><a href=\"https:\/\/international.bittrex.com\/\"> <span style=\"font-weight: 400;\">Bittrex<\/span><\/a><span style=\"font-weight: 400;\"> and Binance. The exchanges charge users a fee for using their platform to trade coins. To help people make the right trading decisions, the exchanges provide advanced market analytics on listed\u00a0<\/span><a href=\"https:\/\/cryptocurrencyfacts.com\/what-are-trading-pairs-in-cryptocurrency\/\"><span style=\"font-weight: 400;\">cryptocurrency pairs<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To start <a href=\"https:\/\/icoholder.com\/blog\/best-cryptocurrencies-to-invest-in\/\">trading cryptos<\/a>, there are two main strategies you can adopt.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Short-Term_Trading_Strategy\"><\/span><b>The Short-Term Trading Strategy \u00a0<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is a method of trading in which traders buy altcoins but only hold them for a few minutes, hours, days or weeks. Holding the altcoins for a few months is also considered short-term trading.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One example of this strategy is<\/span><a href=\"https:\/\/www.bitdegree.org\/tutorials\/day-trading-cryptocurrency\/\"> <span style=\"font-weight: 400;\">day trading tokens<\/span><\/a><b>. <\/b><span style=\"font-weight: 400;\">As the name suggests, this is a form of trading in which people hold altcoins for a short period, maybe a few seconds, minutes or hours, before selling them for a profit.<\/span><\/p>\n<p data-pm-slice=\"1 1 []\">Day trading can be profitable if you think that the price will rise fast within a short time. However, many investors prefer to support both cryptocurrencies instead of betting on just one. Here are some pros and cons of day trading cryptos.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Advantages_of_Short-Term_Trading_Altcoins\"><\/span><b>Advantages of Short-Term Trading Altcoins<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The primary benefit of short-term altcoin trading is that traders have the opportunity to make high returns. Unlike traditional currencies in which <\/span><a href=\"https:\/\/www.investopedia.com\/ask\/answers\/06\/forexleverage.asp\"><span style=\"font-weight: 400;\">price changes rarely go over 1%<\/span><\/a><span style=\"font-weight: 400;\">, altcoins can experience significant swings quickly. Prices can double in hours or overnight.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another notable pro of short-term trading is that the crypto market does not follow the<\/span><a href=\"https:\/\/www.sec.gov\/fast-answers\/answerspatterndaytraderhtm.html\"> <span style=\"font-weight: 400;\">Pattern Day Trading Rule<\/span><\/a><span style=\"font-weight: 400;\">. This is a rule applied in the United States to prohibit people with less than $25,000 in their trading account from making more than three day trades each week. With altcoin trading, you can trade with any amount all day for the entire week.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Main_Disadvantages_of_Short-Term_Crypto_Trading\"><\/span><b>The Main Disadvantages of Short-Term Crypto Trading<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Because of the\u00a0<\/span><a href=\"https:\/\/cointelegraph.com\/news\/why-is-the-cryptocurrency-market-so-volatile-expert-take\"><span style=\"font-weight: 400;\">high volatility of the crypto markets<\/span><\/a><span style=\"font-weight: 400;\">, the price of digital coins can swing very fast. This implies that to make a profit from short-cycle trading, considerable time will be required to analyze the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another major disadvantage of short-term crypto trading is that traders have to make a large investment to get significant returns. However, many beginners lack this financial muscle or are not confident enough to pump a lot of money into trading cryptos.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Long-Term_Trading_Strategy\"><\/span><b>Long-Term Trading Strategy<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Long-term crypto trading means buying altcoins and holding them for a period of at least one year. A good example would be a person who bought Bitcoin in 2009 when the price was about $1 and sold in December 2017 when the price of one BTC\u00a0<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><span style=\"font-weight: 400;\">had grown to more than $19,000<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Advantages_of_Long-Term_Crypto_Trading\"><\/span><b>Advantages of Long-Term Crypto Trading<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The primary advantage of long-term cryptocurrency trading is that it is relatively easy and requires only a limited amount of time. All you need to do is hold onto the digital coins over a long period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike day trading altcoins in which a lot of time is needed to follow price changes, long-term crypto traders can check the price movement during their spare time. Once you have the coin, it is a matter of holding and waiting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another major advantage of long-term trading is that you do not need a lot of money to trade cryptos. You can progressively buy the altcoins and add them to your<\/span><a href=\"https:\/\/cryptocurrencyfacts.com\/what-is-a-cryptocurrency-wallet\/\"> <span style=\"font-weight: 400;\">cryptocurrency wallet<\/span><\/a><span style=\"font-weight: 400;\"> when you want to expand your portfolio.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Main_Disadvantage_of_Long-Term_Altcoin_Trading\"><\/span><b>The Main Disadvantage of Long-Term Altcoin Trading<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The main disadvantage of long-term trading altcoins is that you could miss opportunities for making quick gains when prices rise and fall within a short time. In some instances,<\/span><a href=\"https:\/\/blog.goodaudience.com\/rise-and-fall-of-cryptocurrency-rates-volatility-factors-b900e32fc87\"><span style=\"font-weight: 400;\"> an <\/span><span style=\"font-weight: 400;\">altcoin\u2019s price respond to market forces<\/span><\/a><span style=\"font-weight: 400;\"> and then falls back to the same position.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-637\" src=\"https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/how-to-trade-altcoins.jpg\" alt=\"how to trade altcoins\" width=\"604\" height=\"401\" srcset=\"https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/how-to-trade-altcoins.jpg 640w, https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/how-to-trade-altcoins-300x199.jpg 300w, https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/how-to-trade-altcoins-90x60.jpg 90w, https:\/\/icoholder.com\/blog\/wp-content\/uploads\/2018\/11\/how-to-trade-altcoins-120x80.jpg 120w\" sizes=\"auto, (max-width: 604px) 100vw, 604px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Important_Things_You_Need_To_Know_About_Crypto_Trading\"><\/span><b>Important Things You Need To Know About Crypto Trading<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The volatility of altcoins in the market can help you make profits, but also can cause you to incur losses. Therefore, it is important to understand the basics of altcoins and blockchain technology. Here are some other things that you need to know before starting to trade in the market.<\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Avoid_Getting_Influenced_By_Others_When_Trading_Cryptos\"><\/span><b>Avoid Getting Influenced By Others When Trading Cryptos<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">One notable point about crypto trading is that you are not the only one trying to make a profit. Therefore, you should try to<\/span><a href=\"https:\/\/www.forbes.com\/sites\/investor\/2018\/07\/05\/5-newbie-trading-mistakes-every-crypto-investor-should-avoid\/#58aab3a07d55\"> <span style=\"font-weight: 400;\">avoid being influenced by others<\/span><\/a><span style=\"font-weight: 400;\"> especially non-experts who post content demonstrating how the price will perform at specific times.<\/span><\/p>\n<p data-pm-slice=\"1 1 []\">Most of these videos and commentators are promoters interested in driving traffic but lack insights on altcoin trading. Instead of following just one viewpoint, many traders choose to support both cryptocurrencies instead, diversifying their positions to reduce risk. The best strategy is to do your own analysis and only make a move when you are convinced about the expected price shift.<\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Only_Invest_What_You_Have_And_Are_Ready_To_Lose\"><\/span><b>Only Invest What You Have And Are Ready To Lose<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is a crucial rule of the thumb when it comes to crypto trading. You<\/span><a href=\"https:\/\/steemit.com\/bitcoin\/@hilarski\/question-of-the-day-should-i-borrow-money-to-buy-crypto-currencies\"> <span style=\"font-weight: 400;\">should not borrow money to invest in crypto trading<\/span><\/a><span style=\"font-weight: 400;\"> because market swings could sink you into debt.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should not use funds meant for other purposes such as rent, medical care, or school. Instead, consider planning appropriately by setting aside the money to invest in trading altcoins. <\/span><\/p>\n<ul>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Do_Not_Invest_Only_In_One_Portfolio\"><\/span><b>Do Not Invest Only In One Portfolio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p data-pm-slice=\"1 1 []\">Although you might have a preferred coin in the market, it is risky to put all your funds into it. Many investors choose to support both cryptocurrencies instead, diversifying their portfolio by targeting multiple altcoins based on their performance and expected returns.<\/p>\n<ul>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Make_Sure_To_Effectively_Manage_Risks_When_Trading_Tokens\"><\/span><strong>Make Sure To Effectively Manage Risks When Trading Tokens<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To trade cryptos profitably, you need to understand the involved risks and use appropriate strategies to mitigate them. For example, although you might be expecting the price of the targeted altcoin to move up, it is important to use the<\/span><a href=\"https:\/\/steemit.com\/cryptotrading\/@vikki2810\/how-to-use-stop-limit-orders-in-crypto-trading-a-simple-explanation\"> <span style=\"font-weight: 400;\">stop loss<\/span><\/a><span style=\"font-weight: 400;\"> tool to prevent an unexpected shift in the opposite direction.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_To_Start_Trading_Altcoins\"><\/span><b>How To Start Trading Altcoins<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To start trading cryptos, you will need to select an appropriate exchange and fund it. Some of the exchanges you may consider include Bittrex, Binance,<\/span><a href=\"https:\/\/www.kraken.com\/\"> <span style=\"font-weight: 400;\">Kraken<\/span><\/a><span style=\"font-weight: 400;\">, and KuCoin. For the purpose of demonstration, this post will use Binance.<\/span><\/p>\n<p data-pm-slice=\"1 1 []\">The following is the procedure to follow to trade at Binance, which allows users to support both cryptocurrencies instead of choosing just one.<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Because Binance is a crypto-only trading platform, you will need to start from another platform such as Kraken or<\/span><a href=\"https:\/\/www.coinmama.com\/\"> <span style=\"font-weight: 400;\">Coinmama<\/span><\/a><span style=\"font-weight: 400;\"> to convert fiat money to the preferred altcoin such as Ethereum.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Visit Binance\u2019s website and<\/span><a href=\"https:\/\/www.binance.com\/register.html\"> <span style=\"font-weight: 400;\">register a trading account<\/span><\/a><span style=\"font-weight: 400;\">. Make sure to set a strong password that is difficult for hackers to crack.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Enable<\/span><a href=\"https:\/\/support.binance.com\/hc\/en-us\/sections\/360000011592-Two-Factor-Authentication\"> <span style=\"font-weight: 400;\">two-factor authentication<\/span><\/a><span style=\"font-weight: 400;\">. This will involve downloading the two-factor authenticator app so that a pop-up asking for your permission will always appear on your phone when someone tries to access the account.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Deposit funds into your Binance account. On the main Binance account page, navigate to the \u201cDeposits\/Withdrawals\u201d section and generate a public address to send altcoins to from your wallet.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Extract a buy or sell transaction. On your Binance account page, visit the \u201cExchange\u201d section and select \u201cBasic Exchange\u201d on the menu. You are now ready to select the desired<\/span><a href=\"https:\/\/college.lbx.com\/information\/1-trading-pairs\/\"> <span style=\"font-weight: 400;\">trading pair<\/span><\/a><span style=\"font-weight: 400;\">. Some trading pairs you can consider at Binance include<\/span><a href=\"https:\/\/cryptocoincharts.info\/markets\/show\/binance\"> <span style=\"font-weight: 400;\">STEEM\/ETH, XEM\/ETH<\/span><\/a><span style=\"font-weight: 400;\">, or WABI\/ETH.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">On the left pane, the Binance platform displays the order book, whereas the middle section has the last piece. Under the trading chart located in the middle, you will see the \u201cBuy\/Sell\u201d buttons.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To execute a buy order, you need to set the desired price or quantity of the targeted coin. To implement a sell ETH order, the process is similar but in the reverse.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following video is a demonstration on how to start trading cryptos at Binance<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"How to trade in Ethereum on Binance - Buying OmiseGo\" width=\"780\" height=\"585\" src=\"https:\/\/www.youtube.com\/embed\/YxAMDIapSxQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Final_Take\"><\/span><b>The Final Take<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"1 1 []\">Trading altcoins has become the new cash cow in the industry because of the fast-growing popularity of cryptos. Although it is in many aspects similar to forex trading, digital coin trading is more complicated because of the risks associated with its high volatility. Many traders choose to support both cryptocurrencies instead of focusing on just one to manage these risks better.<\/p>\n<p><span style=\"font-weight: 400;\">Therefore, people interested in trading crypto coins should start by learning how to trade altcoins. It is also crucial to master how to analyze market trends and follow strategies that have been proven to work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, it is prudent to follow industry leaders and happenings such as partnerships that define the price movement of altcoins.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Altcoin trading is very popular right now, helping people become millionaires. Most investors support both cryptocurrencies instead of choosing just one. Do you anticipate joining &hellip; <\/p>\n","protected":false},"author":11,"featured_media":725,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Support Both Cryptocurrencies Instead to Maximize Profits<\/title>\n<meta name=\"description\" content=\"Many traders support both cryptocurrencies instead of choosing sides to manage risk and maximize profit potential - IcoHolder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoholder.com\/blog\/support-both-cryptocurrencies-instead-to-maximize-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Support Both Cryptocurrencies Instead to Maximize Profits\" \/>\n<meta property=\"og:description\" content=\"Many traders support both cryptocurrencies instead of choosing sides to manage risk and maximize profit potential - 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