How to become A Crypto Trader

• Cryptocurrency Trader

What do Crypto Traders do?

A Crypto Trader would typically need to:

• Make a profit from understanding and making the most of short-term changes in the market price of cryptocurrencies, altcoins and value tokens
• Buy cryptocurrencies, altcoins and value tokens when their market price is low and sell when their price is higher
• Use technical analysis to identify and predict trends and patterns in the value changes of any of the currencies mentioned above
• Keep tabs on community discussions and news events to enable constant monitoring of the market price of cryptocurrencies
• Make optimal use of tools at the disposal of digital asset exchanges such as stop-entry, stop-loss, and limit orders to prevent errors, control trade and mitigate loss
• Stick to a successful trading strategy driven more by logic than emotions

Crypto Traders work out of regular offices, but there is an increasing tendency for professionals in this field to opt for working from home or a remote location since all they need is a computer and reliable internet access.

Crypto Traders frequently work between 8 a.m. to 4 p.m. since the highest trade volume happens within this time frame.

Finding a new job might seem challenging. Crypto Traders can boost their job search by asking their network for referrals, contacting companies directly, using job search platforms, leveraging social media, and inquiring at staffing agencies. Self-employment is a viable option.

Crypto Traders are generally employed by:

• Financial Firms
• Start-Ups

Professional associations and organisations such as Coinbase are crucial for Crypto Traders interested in pursuing professional development or connecting with like-minded professionals in their industry or occupation. 

Membership in one or more adds value to your resume while bolstering your credentials and qualifications.

• Trading online can leave you vulnerable to hackers, operational glitches and malware
• Ensuring that fear and greed do not cloud professional judgements and lead to irretrievable losses
• Challenges arising from government regulations and reactions to cryptocurrencies
• Unpredictable fluctuations in the value of cryptocurrencies

Personal experience in actively trading cryptocurrencies or participating in Initial Coin Offerings (ICOs) may prove invaluable to Crypto Traders looking to gain market knowledge and attract employers.

Read about the profession and interview/job shadow experts working in the Crypto trade to prove your commitment to course providers and prospective employers.

Crypto Traders typically require a bachelor’s degree in computer science, electrical engineering, finance or economics. Ideally, such programs enhance a student’s understanding of supply and demand and price fluctuations.

Certification demonstrates a Crypto Trader’s competence in a skill set, typically through work experience, training, and passing an examination.

Becoming a Certified Cryptocurrency Trader through an objective and reputed organisation can carry a significant salary premium of up to 18 per cent. 

Such certification programs will help you master the basics of the technological infrastructure that drives Blockchains so you can make optimal trading decisions in a dynamic Crypto industry.

Crypto Traders with sufficient experience and consistently high levels of performance may progress to making it a full-time job. Dedication, hard work and a thorough understanding of the inherent risks and rewards will allow you to advance in your career and make more money.

Certified Crypto Traders with a bachelor’s degree in computer science, electrical engineering, finance or economics have the best job prospects.

Continuing professional development (CPD) will help an active Crypto Trader build personal skills and proficiency through work-based learning, a professional activity, formal education, or self-directed learning.

A master’s degree in finance, economics or computer science will be a valuable tool in advancing your career. CPD also allows you to upskill continually, regardless of your age, job, or level of knowledge, enabling the regular renewal of desirable certifications.

The Mysterious World of Blockchain

Blockchain is a comprehensive record of the transaction history for every unit of cryptocurrency and details the changes in its ownership. It works as a digital register that records each cryptocurrency transaction in ‘blocks’, adding new blocks as needed to the front of the chain.

Tools of The Crypto Trade

Strategies such as stop-entry, stop-loss and limit orders are frequently used in the trade business to minimise losses. 

A stop-entry order to buy is given when a trader places an order higher than the market price, whereas a stop-entry order to sell takes place at a price below market price. 

On the other hand, a stop-loss order is when a trader instructs a broker to buy or sell sticks once it reaches a specific market price. A limit order is an order to buy or sell stocks within price restrictions.

Potential Pros & Cons of Freelancing vs Full-Time Employment

Freelancing Crypto Traders have more flexible work schedules and locations. They have full ownership of the business and can select their projects and clients. However, they experience inconsistent work and cash flow, which means more responsibility, effort and risk.

On the other hand, a full-time Crypto Trader has company-sponsored health benefits, insurance, and retirement plans. They have job security with a fixed, reliable source of income and guidance from their bosses. Yet, they may experience boredom due to a lack of flexibility, ownership, and variety.

When deciding between freelancing or being a full-time employee, consider the pros and cons to see what works best for you.

The first-ever commercial bitcoin transaction took place on May 22 in 2010, when a man in Florida exchanged 10,000 bitcoin for two pizzas.

‘Driven’, ‘dedicated’, and ‘hardworking’ are three words that describe Crypto Traders who overcome innumerable odds and financial risks to become successful.

To become a successful trader, you must face every risk head-on. The bigger the risk you take, the greater the reward will be.