Hello, everyone.
I did some research on trading cryptocurrencies, but I suppose it's better I get some input from experienced members here.
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.
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?
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.
I heard of Coinbase, Coinstats and Binance. Are there any other platforms worth looking into?
Thank you.
Binance or Bitmex are the only two platforms that could give you chance of having a profitable day trading. Coinbase is a big no for day trading you will end up spending a hell lot on the fees itself. But apart from platform it would require a great deal of discipline. Moreover be ready lose all the money that you are going to throw in for the first round. Take this as an entry fees which market takes to teach you some great things. But if you have time on hand and are willing to utilize this time to the best 6-7 months of consistent trading would start reaping out some profits for you. As you said it won't make you rich but would give you a good ROI of your money. Do study the Risk management and money management principles before hopping in to trade they are of utmost importance.