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If You Want to Cash In on Cryptos, You Must Take This Step

0 | By Michael A. Robinson

Back in February 2016, I recommended that you all buy Bitcoin as a hedge – as “The Gold of Tech.”

Those of you who moved on that recommendation made peak profits on the cryptocurrency of more than 5,000% in mid-December. But it’s been a bit of a wild ride since then, with every bit of “noise” sending Bitcoin down 10% or so, and then the next day’s “signal” bringing it right back up.

Just check out what happened while we were all sleeping Sunday night.

Most of the major digital currencies fell pretty hard – Bitcoin, 15% – after South Korea announced that it is cracking down on crypto speculation and launching an investigation into six banks. Seoul wants to make sure these banks are following anti-money laundering regulations – and, most likely, not allowing North Korea to trade cryptos.

I’ve long predicted that the world’s major economies will do all they can to get a handle on cryptos – and that each time they make a move like this, we’ll see a slide.

But digital currencies are here to stay. And they’ll keep coming back – and keep making smart investors money.

In other words, don’t panic.

While this is a very lucrative field, it’s volatile. Therefore, to profit in this exciting new arena against that turbulence, you need a savvy set of tools.

You want to be able to put in lowball limit orders to profit from selloffs. And you’ll need stop-losses to protect your capital and profits.

There’s only one way to do that…

You Need These Tools

As I’ve mentioned in a couple of our recent chats, we’ll be talking a lot about cryptocurrencies in 2018.

That’s because there’s plenty of money to be made in this new tech-centric sector. And it’s one that defines high-octane growth.

Consider that the first Bitcoin transaction occurred with zero fanfare nine years ago this Friday. Today, there are hundreds of rivals to this first crypto, and the industry is now worth some $759.7 billion by market cap.

And if you want to rack up big short-term gains, you need access to those tools I mentioned before – and you need to do business with a bona fide cryptocurrency exchange.

So today, I’m going to show four that are top notch.

Now then, many of you have opened up accounts at the popular Coinbase online wallet. And for good reason…

No other firm has made it simpler to sign up, link a debit or credit card, and begin buying Bitcoin.

No other firm has made it simpler to sign up, link a debit or credit card, and begin buying Bitcoin. Coinbase’s mobile app is so easy to use that it is now the most downloaded app on the iPhone. (And it got there quickly: In mid-November, it still hadn’t even cracked the top 200 on that list.)

Coinbase is popular for two big reasons: 1) It’s most basic function is buying and selling Bitcoin, Ethereum, and/or Bitcoin Cash; and 2) it’s a robust “digital wallet” where you can park your cryptos after making trades on a major exchange.

Coinbase also is affiliated with the GDAX crypto exchange. However, I’m not currently recommending GDAX, because you can only trade four digital currencies on it, meaning it barely scratches the surface.

Now, before you start trading cryptos, there’s a couple of things you should know. These aren’t warnings – telling you to stay away. I just want you to know what you’re getting into.

  1. Crypto trading happens almost solely online. Unlike with stocks, you often can’t call your crypto “broker.” There’s very little live customer support available.
  2. Some of the exchanges have become so overwhelmed that they’re not taking new customers at this moment. I know they’re working on staffing up, but for some it could take a few weeks or even a month or two before they’re ready to start accepting new clients.
  3. Several are for trading cryptos only; they don’t accept dollar deposits. That means you’ll have to buy your coins at a place like Coinbase and then transfer them to one of these exchanges.

But it’s worth the hassle. Just look at the 5,000% profits some Strategic Tech Investor members have made with Bitcoin.

Then there’s the relatively new cryptocurrency I recommended to my Radical Technology Profits members back on May 3. They’ve seen peak gains of 1,195% – a true 10-bagger – in well under a year.

With that kind of life-changing wealth at hand, let’s take a look at my four Top-Notch Crypto Exchanges

Top-Notch Crypto Exchange No. 1: Poloniex

You can trade more than 80 cryptocurrencies at this San Francisco-based exchange, including Bitcoin, Litecoin, Dash, Ethereum, Zcash, and Monero.

Of course, providing enough traders on each side of the trade can be a challenge when dealing with so many different currencies. Poloniex solves that problem with a unique “maker-taker” model that rewards coin makers with lower-than-usual fees to trade. That gives them more reason to steer their business to Poloniex than other exchanges.

This exchange is well-suited for traders that rely on a lot of technical tools. You can look at charts in multiple time frames, multiple-option candlesticks, and both Fibonacci levels and Bollinger bands.

Right now, Poloniex lets traders buy, sell, and place stop-limit orders, though more trading functions are bound to appear in coming months. Investors can also buy coins on margin.

The exchange hasn’t garnered top marks for customer service, which means Poloniex may not be ideal for investors that are new to cryptocurrencies and have a lot of questions.

Top-Notch Crypto Exchange No. 2: Bittrex

Traders focused on the second tier of cryptocurrencies, known as “alt-currencies,” rave about this Seattle-based site.

That’s because you can trade more than 250 different alt-currencies on Bittrex, and it’s often is among the first exchanges to build strong trading volumes when a new digital currency is launched.

Plus, the site’s popularity means it sees robust trading volumes in a broad range of cryptos.

Bittrex is also one of the few exchanges to get very high marks for rapid and accurate customer support.

On the other hand, it charges 0.25% on each side of the trade, so this is not the most inexpensive exchange around. But based on a broad range of feedback, Bittrex appears to be among the most trusted and reliable of all of the cryptocurrency exchanges.

Top-Notch Crypto Exchange No. 3: Kraken

Also based in San Francisco, this exchange initially focused on European crypto traders, but now has a global base.

Kraken offers a range of deposit and withdrawal limits, based on tiers that a client selects. The higher the tier, the more rigorous the upfront account application will be.

Kraken offers among the lowest fees of any exchange. This may be the most robust platform for traders that are used to foreign-exchange trading sites, with a range of tools at hand, including limit orders, advanced orders with predefined triggers, leveraged positions, margin trading, and short selling.

The site scores very high marks for its security. Kraken was the first exchange to create a cryptographically verified proof of reserves that provides transparency and proof that all of a client’s funds are held at the site and not in offline cold storage.

Kraken’s servers are held in secure facilities with armed guards, retina scanners, and top-notch video surveillance. Bear in mind that Kraken’s mobile app is not well developed, so if you choose it, you’ll probably want to do your trading on a PC.

Top-Notch Crypto Exchange No. 4: Bitfinex

This Hong Kong-based trading exchange goes to great lengths to verify its clients, by creating the strongest trade links between cryptocurrencies and hard currencies.

One smart Bitfinex feature, Tether, can actually link both types of currencies within the same Bitcoin blockchain.

Bitfinex provides the chance to deploy a wide range of transaction orders, including limits, markets, trailing stops, fill or kills, one cancels others (OCOs), hidden orders, and post-only limit orders.

Best of all, the exchange carries fairly high trading volumes, which means that accurate bid/ask spreads are narrow and order counts are resolved in real time, letting users to choose the best time to place an order.

You should know that Bitfinex was hacked in May 2015 and again in August 2016. However, the firm garnered high marks by fully compensating traders for the lost value in those hacks and has significantly upgraded security since then.

Now then, I want to be clear on a couple of things. First, I still firmly believe that the road to wealth is paved by tech.

But the new field of cryptocurrencies holds so much potential that it’s worth investing small amounts of money. In other words, look on crypto trading as a high-risk/high-reward venture – only invest money you can afford to lose.

That’s what I told folks who got a copy of my special report The Roadmap to Marijuana Millions. Some of them are sitting on gains of 2,802%. To find out how to get that report, just click here.

By applying that example to your crypto trading, you’ll limit your overall risk as you enter a field where you can literally score a 10-bagger – in a year or less.

I’ll be showing you how to do so – here and in my premium services.

Check back to see what we’re talking about.

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