Crypto trader (Crypto handelaar)

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A crypto trader is a person who trades in cryptocurrencies. It is a trader in digital cryptocurrencies who trades as a private individual or as a professional trader. The name investor also applies. There are all kinds of different types of cryptocurrencies to trade in as a crypto trader. Bitcoin is the very first digital unit that was tradable and also the most famous of all cryptocurrencies. However, there are also thousands of species to invest in. In addition to Bitcoin, Ethereum is also known just like Ripple and Cardano can be seen as major cryptocurrencies. Dogecoin is also a popular currency and that is thanks to Elon Musk who regularly brings out positive tweets about it. Gulden is known as a cryptocurrency in the Netherlands. In addition to the large cryptocurrency, there are many more smaller crypto units to distinguish, such as VeChain and Holochain. In order to make money, a crypto trader keeps an eye on the price of cryptocurrency on a daily basis. Trading can be very fast, so that you can earn within a few minutes. In addition to crypto traders who trade daily on the digital currency market, there are also traders who do so with a long-term vision. In that case, there is no question of always actively trading, but rather making an investment in the longer term. A crypto trader who trades on a daily basis uses statistics and technical analysis. In addition, a crypto trader keeps an eye on the crypto news. A news item that is relevant to a certain cryptocurrency can cause the price to rise sharply, but also cause it to fall sharply. A professional-level crypto trader typically uses multiple computer screens to be able to trade quickly and keep an eye on everything.‎

‎A crypto trader is therefore a private or professional ‎‎trader‎‎ who has specialized. It is also possible that a crypto trader deals with crypto in a different way in addition to day trading. For example, by mining crypto, such as mining Bitcoin. However, that does not always have to be the case and the combination occurs sporadically in the Netherlands nowadays. In the past, it was still lucrative for the average private individual to mine, but nowadays it takes too much computing power. This leads, among other things, to a gigantic ‎‎energy consumption‎‎. Mining itself involves using computing power to arrive at the solution of ‎‎mathematical‎‎ formulas. The miner then receives a reward for this in the form of the cryptocurrency in question. To make a profit from mining nowadays, a lot of computing power and energy is needed. It therefore costs money to mine, where there are expenses for new graphics cards or ‎‎video cards‎‎. A crypto trader is therefore less concerned with that. Also because there is simply much faster money to earn as a day trader. In that respect, there is a comparison to be made with a ‎‎stockbroker‎‎ who trades in shares. A crypto trader can also give other advice about crypto trading and in that sense act as ‎‎a financial advisor‎‎. It is also possible to give advice on taking positions when it comes to buying and selling. There are professional crypto traders who offer subscriptions to provide other insight into technical analysis with associated advice.‎

‎INVESTING IN CRYPTOCURRENCIES‎

‎There are all kinds of crypto platforms to trade nowadays. Every individual has the opportunity to, for example, open an account on an exchange and buy and sell crypto. For example, several individuals have started as a hobby or to ‎‎invest‎‎ money and part of them have become professional crypto traders. When investing in cryptocurrencies, it is important not to be guided by emotions. The market is very volatile. For example, a price of crypto can fall 10 to 20% or even more in a few minutes. However, the other way around is also possible and of course you can earn money quickly with it. In any case, the past few years have already proven that cryptocurrencies can no longer be ignored. It is no ‎‎longer a trend‎‎ or a hype, but is gaining more and more ground as a valuable investment. Compared to the stock exchange, the crypto market is still much more volatile. That is why people now also talk about speculating with crypto and not about investing in crypto. Of course, it is also increasingly possible to pay with ‎‎crypto coins‎‎.‎

‎LEARNING TO INVEST IN CRYPTOCURRENCIES‎

‎To get started with crypto, you must first choose a broker. Through the platform of the broker you can buy or sell the crypto coins. To buy cryptocurrency you need to create an account with a broker. Crypto currencies can only be bought or sold through special accounts or wallets. Most brokers will offer multiple crypto currencies on their platform. Although there are more than a thousand cryptocurrencies, the best known are Bitcoin, Ethereum, Litecoin and Monero.‎

‎You can buy and sell cryptocurrency 24/7 on many different platforms, but there is always a chance that the price of the currency will change quickly. It is important to use the right wallet. For example, you cannot transfer Bitcoin to an Ethereum wallet. In that case, you must first exchange Bitcoin for Ethereum. If you don't do this, your coins are usually lost. Always check the news about a specific cryptocurrency. The Netherlands Authority for the Financial Markets also warns against this, as does the Dutch bank (DNB).‎

‎WHAT DOES A CRYPTO TRADER DO:‎

  • ‎Buy Crypto‎
  • ‎Selling Crypto‎
  • ‎Create technical analyses‎
  • ‎News tracking‎
  • ‎Giving advice‎

‎WHAT DOES A CRYPTO TRADER DO:‎

‎TRAINING TO BECOME A CRYPTO TRADER‎

‎No training is needed to become a crypto trader. Everyone can buy and sell cryptocurrency on their own initiative. If there is a crypto trader who also acts as a financial advisor, other rules may apply. For example, it is possible that you as a company will then fall under the AFM ‎‎supervisory authority‎‎. Then, among other things, strict rules apply and there is a responsibility to prevent ‎‎money laundering‎‎.‎

‎COMPANIES WHERE A CRYPTO TRADER CAN BE EMPLOYED‎

‎A crypto trader usually works for himself as a private individual and less often for an ‎‎investment organization‎‎. It usually involves people who invest money to grow the wealth with the crypto trade. As described earlier, everyone can be classified as a crypto trader.‎

‎COMPETENCES CRYPTO TRADER‎

‎One of the most important competencies of a crypto trader is to be ‎‎stress resistant‎‎. This is due to the speed at which a crypto price can fall and rise. Acting without emotion is also an important competence. It is also useful to have mathematical insight and to be able to make technical ‎‎analyses‎‎. Perseverance and patience are skills that come in handy. It is also possible that you make a purchase and have to wait a while because there is a return.‎

‎LABOUR MARKET PERSPECTIVE AND CAREER OPPORTUNITIES AS A CRYPTO TRADER‎

‎A crypto trader usually starts trading with interest in the crypto market. There are private individuals who leave it at that and private individuals who make it a daily profession. In that case, the private individual grows into a professional day trader. It is then possible to grow further to become a kind of stock market guru. The labor market perspective for crypto traders is still favorable, because cryptocurrencies are indispensable.‎

‎TERMS OF EMPLOYMENT AND SALARY CRYPTO TRADER‎

‎There is no salary applicable to a crypto trader. It depends on the success of trades what the income is. There are crypto traders who set a daily goal for themselves to make a certain percentage of profit. Or want to raise a certain amount. Upon reaching that goal, the crypto trader stops that day to continue the next day. However, there are also crypto traders who work more hours than sleep and make a lot of money. The fact is that crypto trading continues 24 hours a day, 7 days a week. This is different from a ‎‎stock exchange‎‎, which has to do with opening hours and closing times.‎

The content on this page has been automatically translated from the Dutch language. For this reason, texts and videos on this page may contain small errors.

Lesen Sie diese Informationen auf Krypto Trader auf Deutsch.

Lea esta informaciĆ³n sobre Comerciante de criptomonedas en espaƱol.

Lees deze informatie over Crypto handelaar in het Nederlands.

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