How to Become A Good Crypto Trader?

Good Crypto Trader

Being a crypto trader is an exciting job that has become very popular in recent years. The industry offers many opportunities and opens a huge gap for blockchain professionals. In order to work in the industry, a person needs to have some technical knowledge and to understand at least the basic principles of blockchain and cryptocurrency. On the other hand, becoming a crypto trader is much easier and simpler. So if you want to get involved in the industry and receive dividends but don’t have the knowledge, being a crypto trader might be the right decision for you.

Being A Crypto Trader

Just like any trader’s job, crypto trading could be very beneficial or very harmful, depending on the choices and actions of each trader. One of the main aspects of this kind of passive income is the fact everyone is responsible for their actions and the results affect them directly. Meaning that if you know what to do, DYOR, and take the right decisions, all profits will come to you. Unfortunately, if things go wrong, you are the one who bears the losses. The good thing about this is the fact that you have full authority, no limits and you are “working” only for yourself. It is a job that can be done during your free time and between your regular job meetings, which is why the possibilities for passive income from crypto are endless.

Another thing to mention is the fact that if with time, you manage to build a strong portfolio and achieve good results, you can also earn by “lending” your work to copy traders and possibly make a career in the industry. It all goes to everyone’s personal motivation for development and growth.

Even though no specific technical knowledge is needed in order to start trading, it is highly recommended to understand what cryptocurrency is. This will help to choose the right project and understand its goals. If you have any trading experience in the past in other fields like the stock market, you have to understand the differences between them and don’t think it is the same. For example, cryptocurrencies are much more volatile than stocks.

Steps to Becoming A Crypto Trader

Step 1 – Find A Trusted Cryptocurrency Exchange

The first thing to do is to register on a crypto exchange platform. There are decentralized and centralized exchanges, but if you are a complete beginner, keep in mind that decentralized exchanges are usually a bit harder to comprehend and the processes there work slower, that is why a centralized exchange might be a better option as a start. Even though there is plenty of information and tips for beginners all around the internet, videos, and articles, just reading is never enough. Practical knowledge, testing, understanding, and analyzing are crucial parts of any crypto trading activity.

Popular, easy to understand, and safe exchange can make the start of trading smoother. Such an exchange is crypto exchange which the platform offers the latest 1400+ cryptocurrency prices and a broad range of financial services and, most importantly, many guides for beginners. All needed to register is following a few simple steps. First, confirm that you are above 18 years old. Then verify yourself by completing KYC requirements. Visit to buy or sell crypto today.

Step 2 – Buying Cryptocurrency Wisely

After you have your account and have done your research, it is time to do the actual job – purchase cryptocurrency! To start, be careful about which projects you invest in, and don’t invest too much. Even though the final goal is to make a profit, the best advice that will keep your mind safe during crucial periods is – don’t invest in anything that you are not ready to lose. Set an amount that you are willing to spend on anything usually, but then decide that instead of spending it on shopping, for example, you will test and learn more about crypto trading. Of course, if you make the right decisions, the amount could increase, but even if things don’t go as planned in the beginning, you will end up knowing valuable things and having a better idea of what to do. Usually, it is good to choose well-known, more stable projects like Bitcoin, so the risk is as limited as possible.

Step 3 – Analyse and Learn about Cryptocurrency Trading Strategies

Usually, it is better to know your trading strategy and attitude before purchasing a coin, but for a beginner, the process could be reversed until he learns the basics. After you have your investments, it is time to start monitoring and analyzing the trends and the movements. There are many YouTube channels with daily crypto analysis, so just choose the ones that are interesting and speak about the coin you invested in. Try to do some analysis and short predictions by yourself too. Copy trading is also beneficial.

To make a profit and become a good trader, daily monitoring of the market is required. At the end of the day, the purpose of the whole thing is to make a profit and sell your coins for a higher price than when you bought them. It is important to not panic during impermanent loss moments and to have a strategy that you strictly follow.

At the same time, when the right time comes to sell and make a profit, don’t be too greedy and wait for more to increase the profits, because it could have a negative result, especially if you practice daily trading. For beginners, it is good to test daily trading but also long-term investing.


The requirements to become a crypto trader are not many. No special knowledge or certifications are needed. However, if you want to be a good trader and become a professional, basic knowledge of reading charts, understanding blockchain systems, analysing and predicting price movements are necessary. The right choice of a crypto exchange platform is important, as well as choosing a trading strategy and risk-level attitude. There is plenty of available information, tips, and guides on how to perform and gain profits. The most important advice is to never risk too much and to never stop learning. Practice makes perfect!

Author: Kristina Micheva, Community Manager, Researcher

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