You may do so by using a credit/debit card facility, however, above a certain threshold eg. $10,000 you will be required to make use of a third-party payment provider, do check their transfer fees. This may differ for each individual dependent upon their Country of Residence. Most exchanges will guide you through the process. Check out your local 3rd Party Provider, you can get in contact with us to see which are trusted. For Kiwi's you may look at Bit Stamp, or Bit Prime. Australians may look at Independent Reserve.
Also ensure the network you choose to deposit matches the withdrawal network, or assets may be lost:
You may want to download a digital / online wallet eg. (Crypto.com, Exodus, Uphold, Luno, Xapo) any one will do (your personal preference). Again, any corporations may come and go, and their interfaces / tools may certainly change over time, so due diligence is required.
Remember, no one leave their life’s savings in their pocket wallet, that is irresponsible. We never leave more than $3000 on one of these wallets. The digital online wallet certainly makes it easy to transfer funds to friends and family when needed and in most cases like crypto.com; they provides a card facility that allows you to do online purchases or have your spouse pay for monthly groceries, which we topup as or when needed. Do your own due diligence; last I check, the card facility weren’t available in Africa.
The safer way to store your life’s savings is through a Hard wallet (external Wallet).
Use my referral link to sign up for Crypto.com and we both get $25 USD
You don’t have to, but you may want to invest in something like a Hard wallet over time. We make use of both the NanoLegerX and NanoLegerS. There are other alternatives on the market. This is where you would store your Digital Assets (Crypto Currency) which you intend to hold as a long-term investment. You don’t necessarily want to keep all your funds on the Exchange or in an Online wallet.
You may want to explore options such as Blockfi, Gemini, Celsius, Blockchain, Nexo, Kava, Fulcrum and the likes through which you can earn interest on your capital which sounds a lot more attractive than leaving your money on a hard-wallet.
For more TIPS and HELP, book your free consultation.
So, you want to become a cryptocurrency day trader, and take it seriously, then you want to equip yourself with the tools necessary to offload some of the stress, aggravation and frustrations that comes by simply using an exchange.
Enhance Your Crypto Ventures: Leverage My Indicator Techniques That Garnered Me phenomenal results in Profits by leveraging into either my indicators or invest into my Trading benchmark, book that consultation for more information.
Or make use of 3Commas and Tradingview.
These platforms are not necessary for the beginner. You don’t need this to get started.
On most other exchanges, once you placed an Order (purchase), you need to set the perimeter of where you want to Take Profit OR a Stop Loss. You cannot always set both and that is a bit inconvenient.
Our own Trading Benchmark and the likes of 3Commas not only allow you to execute trades while you sleep, it also provides a Smart Trading option, and in the case of 3commas you have options like DCA bots, GRID Bots, and Option Bots.
Another great reason to leverage into these, is that you can connect multiple exchanges on the 3Commas Platform.
To utilize 3Commers’ trading bots, you will need an API key (Application Program Interface) from your Exchange to give 3Commas access to simultaneously carry out multiple trades at the same time.
Tradingview needs no introduction, and certainly provides indicators, charts, alerts, and much, much more, and certainly useful for when automation is of concern and particularly useful when it comes to alerts.
If you struggle and need assistance, coaching or mentoring sessions don’t hesitate, get in contact, we’d love to help, you might be pleasantly surprised.
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