Online crypto-to-crypto trading is continuously becoming more popular among investors and traders who want to capitalize on the growing demand for cryptocurrency and nfts trading. New exchanges, such as Coinbase, ShapeShift and Changelly, have been added to the mix in recent years.
Non-traditional cryptocurrencies like Litecoin (LTC) are also continuing to gain a lot of traction. As with all things digital, these assets are driven by algorithms that need a fair amount of management expertise. The books below will teach you how to manage these algorithms so that you can take advantage of your own unique abilities when it comes to managing this ever-growing market.
1. Diversify Your Crypto
Diversifying your portfolio is the most important step to take if you are going to invest in cryptocurrency. The amount of money involved is huge and can seriously affect your financial future. This makes diversifying a priority, especially if you will be handling substantial sums of cash.
Two books that I recommend are: 1) “The Blockchain For Dummies” by Stephan Tuali 2) “Digital Gold” by Nathaniel Popper.
The first strategy that these books recommend is to minimize the amount of money in one place so that you avoid losing it all at once. This means diversifying your crypto assets across different wallets which offer more options when it comes to trading altcoins (cryptocurrencies other than Bitcoin).
2. Trade Your Way
There are two primary ways that you can trade your way to success: 1) Learn how to buy and sell, and 2) Understand the market.
The first book I recommend is “Crypto Assets For Dummies” by Matthew Tan. This book goes over how to buy, sell and manage your assets in an easy-to-understand format. If you are new to this topic, the authors understand that understanding the basics is critical, so they include a lot of information on how these assets really work. Site detail is here.
Once you have completed this book, I recommend “Digital Gold” by Nathaniel Popper because it provides a comprehensive overview of cryptocurrencies. It even has a section on Litecoin and how it may change the crypto industry forever.
Finally, if you are willing to get your hands dirty, I recommend you check out “The Complete Guide to Cryptocurrency Trading” by Jason Spatafora. With this book you can learn how to place trades in a very structured manner. If you combine this knowledge with the strategies from books #1 – 3, then you can really make some serious money trading this new asset class.
3. Mastering Altcoins
These new altcoins are only gaining momentum as they continue their battle for market dominance against Bitcoin (BTC). Their explosive growth has made them extremely attractive to investors who want an extra advantage on their competitors. If you want to get your share of the pie, you will need to learn how to manage these altcoins.
My first recommendation is: “Mastering Bitcoin For Dummies” by Andreas M. Antonopoulos. This book covers more than just Bitcoin and dives into other cryptocurrencies, including Litecoin. It also gives a comprehensive overview of both current and past altcoins that may be worth considering for investment or trading.
My second recommendation is: “The Beginners Guide to Bitcoin and Altcoins” by Kyle Drake. This book covers everything from the basics of both Bitcoin and altcoins to advanced topics like mining, exchanges and mining pools. The basic framework of this book can be utilized for nearly any cryptocurrency that you want to invest in, including Litecoin.
4. Trading Strategies
One of the most important aspects of trading cryptocurrency is choosing a good strategy before getting started. This book will teach you how to choose one that will work well for your particular needs: “Crypto Trading Strategies” by Sudeep Kumar & James Bittles. This book covers every crypto asset available and which ones are likely to rise or fall in value . It will also teach you how to select the right entry or exit points, as well as short and long-term trading strategies through outreach.
5. BTC/Crypto Market News
The best way to find out what technologies are coming next, how they may affect your personal style of investing and what the overall outlook for markets looks like is to read news from leading industry sites. Here are my favorites: 1) CryptoSlate – This site is run by a team of traders and analysts that publishes articles on a daily basis detailing market changes that may affect various coins in real time. 2) Coin Desk – This site covers a wide variety of blockchain technology topics and has an excellent section on cryptocurrencies which explores their value potential. 3) Bitcoin Magazine – This site is a must-read for those who want to learn more about the development of Bitcoin and the crypto industry in general.
6. Coins, Exchanges and Wallets
Now that you are equipped with knowledge, you need to make sure that you have the best tools to manage your crypto assets, as well as add value (ICO). One of the most important parts of this venture is choosing an exchange and a wallet that will match your needs.