A Step-by-Step Guide for Beginners: Earning $120 Per Day through Crypto Trading

How to Make Up to $120 Daily on Buy Bit: A Comprehensive Guide

Are you interested in making some extra income through cryptocurrency trading? In this article, we will explore a specific strategy that can help you earn up to $120 daily on Buy Bit, a popular cryptocurrency exchange. By following the steps outlined below, you can start trading and potentially increase your profits over time.

Step 1: Sign Up and Create an Account on Buy Bit

The first step is to visit the Buy Bit website and sign up for an account. Click on the link provided in the video description to access the registration page. Once there, follow the instructions to create your account and complete the Know Your Customer (KYC) verification process. After your account is set up, make an initial deposit to fund your trading activities.

Step 2: Select Your Trading Pair

Once you have completed the account setup and made your deposit, navigate to the trading chart on Buy Bit. You can choose to trade bitcoin, ethereum, or any other altcoin available on the platform. For this example, let’s select Bitcoin against the US dollar.

Step 3: Use Exponential Moving Averages (EMAs) as Indicators

EMAs are technical indicators that generate buy and sell signals based on crossovers and divergences from the historical average. To use this strategy, we will be using four different EMAs with different lengths and colors. Follow these steps to set up the indicators:

1. Click on the Indicators tab on the trading chart.
2. Type “4 EMA” in the search bar and select the appropriate indicator.
3. Adjust the settings for each EMA by clicking on the Inputs option.
4. Set the length of the first EMA to 8, the second EMA to 13, the third EMA to 21, and the fourth EMA to 55.
5. Customize the colors and thickness of the EMAs to make them easier to identify on the chart.

Step 4: Identify the Best Entry Points

Now that the EMAs are set up, it’s time to find the best spots to buy and sell Bitcoin or any altcoin. Look for the EMAs to be in the order of blue, green, yellow, and red. Once they are in this order, it indicates a favorable trading opportunity. For example, if the EMAs are in the correct order and you buy Bitcoin at that point, you may be able to make a profit. Repeat this strategy to potentially increase your profits over time.

Conversely, if the EMAs indicate a bearish trend, it may be a good time to sell Bitcoin. By waiting for the EMAs to align perfectly in the order of blue, green, yellow, and red, you can open long positions on Buy Bit and potentially earn $120 daily.

Step 5: Opening Long and Short Positions on Buy Bit

Now that you understand the strategy, let’s learn how to open long and short positions on Buy Bit:

1. Click on the link provided in the video description to access Buy Bit.
2. Create your private account and make an initial deposit of at least $100 to be eligible for the Buy Bit deposit bonus.
3. Choose the cryptocurrency you want to deposit, such as USDT, and select the appropriate chain type.
4. Copy the wallet address or scan the QR code to initiate the transfer.
5. Once your deposit is confirmed, navigate to the derivatives trading section on Buy Bit.
6. Select the asset you want to trade, such as Bitcoin or Ethereum.
7. Choose your order type, enter the trade details (quantity, price, leverage), and confirm your order.
8. Monitor your positions under the Positions tab to track your trades.

Remember, this is not financial advice, but a proven strategy that you can use to potentially earn profits. Always do your own research and trade responsibly.

Frequently Asked Questions (FAQs)

1. Can I use this strategy with any altcoin on Buy Bit?

Yes, you can use this strategy with any altcoin available on Buy Bit. The key is to ensure that the EMAs are in the correct order (blue, green, yellow, and red) before entering a trade.

2. Is Buy Bit available worldwide?

Buy Bit is not available worldwide. However, if you are unable to trade on Buy Bit, you can try Bitflix, another cryptocurrency exchange that is available in even more countries.

3. How much initial deposit is required to start trading on Buy Bit?

You need to make an initial deposit of at least $100 to start trading on Buy Bit. This will also make you eligible for the Buy Bit deposit bonus.

4. Can I trade on Buy Bit with leverage?

Yes, you can trade with leverage on Buy Bit. Choose the appropriate leverage level based on your available margin. It is recommended to use isolated margin and avoid going above 25x leverage.

5. Are there any job opportunities available at Buy Bit?

Yes, Buy Bit is currently hiring developers, market analysts, and other positions. You can find these job openings on CryptoJobs.com, a job board specifically for the cryptocurrency industry.

Now that you have learned a comprehensive strategy for trading on Buy Bit, it’s time to put your knowledge into action. Remember to trade responsibly and always stay informed about the latest market trends. Good luck!