Here's the thing - I have a lot of free time on my hands. I'm thinking about buying a tiny amount (1.000 EUR or 1200 USD) worth of cryptocurrency (I'm leaning towards Ethereum or Bitcoin) and basically buying lower and selling higher throughout the day.
But the point is that prices dont become that much volatile throughout the day. Speaking of which, bitcoin is traded 24/7 365days - non stop unlike stock markets. Keep that in mind, the word "day" is non-existent here.
No, I don't expect to get rich from this. I simply need something to pass the time and if I can also make a profit off it, why not?
Get your priorities straight though. This type of mindset will only do more harm than good. Either you are in it or your are not. Spot trading is not a gambling and getting stuck in the wrong buying point would mean a vicious cycle of anxiety and depression. Trust me, it will happen.
So I believe what I'm interested in is called "day trading". I have found numerous pros and cons regarding this method, but as I said, I want to engage in something on a daily basis, investing and holding on for a period of time is something I'm really not interested in.
It is strange that you as a newbie is going straight to day-trading. Do you have any prior experience of stock market, commodities day trading? If not, then it is not for you, you are guaranteed to run into a loss. Spot trading is what I would suggest and that too in the mid-long term time range. Day trading needs a lot of technical analysis and some more dirty tactics on trading groups, not easy for a new entrant.
I heard of Coinbase, Coinstats and Binance. Are there any other platforms worth looking into?
Binance is enough as long your local laws allow crypto trading and you can pass a KYC on Binance. That is another topic of discussion.