What is Cryptocurrency?

Cryptocurrency Charts – How to Read & Use Them?

To get cryptocurrency explained is not the only thing people need in order to get a better grasp of the industry. By now, you probably know what is cryptocurrency mining and how cryptocurrency works. But do you think that is enough?

If you have evaluated your resources as insufficient for mining or if you prefer as a whole trading instead of becoming a crypto miner, there is one more thing you are going to need to understand. You need some basic knowledge of cryptocurrency charts and how to read and use them.

Crypto vs. Fiat

The term fiat money describes these well-known currencies we all use, like the US Dollar and the Euro. These have a physical state in the form of banknotes and coins. In comparison, cryptocurrencies are completely digital, created through code and mathematical equations, used in the same way. You cannot withdraw crypto tokens from an ATM. But that does not mean they do not possess part of the characteristics typical for fiat money.

Just like fiat money, crypto tokens have a cryptocurrency exchange rate. It signifies the amount you can buy for a given amount of funds or how much you can get from selling your available quantities. And just like fiat money, cryptocurrencies don’t have a constant value.

On the contrary, volatility is very high in this industry mainly because of the fact that there is no central regulatory body that controls the value. As you well know, there is some central authority that determines the value of fiat money, while cryptocurrencies are fully decentralized. That is one of the reasons why they are so attractive to people.

The lack of decentralization means that the price will be determined primarily by supply and demand. This gives ground for these constant and often huge fluctuations in the price. As you probably well know already, the supply of cryptocurrency units is limited. This means that as the demand for them grows, so does the price.

Tokens as Investments

Investors often buy cryptocurrencies as long-term investments. They wait out for the price to start rising and eventually sell their tokens for profit on a cryptocurrency exchange according to the current rate. This increases the supply of the circulating units and often decreases the price.

It is important for people interested in cryptocurrency trading and investments to be aware what movements do the cyber currencies in their portfolio make. No just for longer periods of time but at the smallest interval possible. This can happen only by closely following different investment charts.

Cryptocurrency Price Charts

Of course, the most important thing that you should monitor for changes is the price of a given cryptocurrency. That is why every chart you can choose to use provides this specific information for various time intervals. Some of the best charts will show you the real-time movements or small intervals of five minutes. You can set the amount of time yourself, going even years back to look for patterns.

Don’t Forget

Given the volatile nature of the industry’s assets, you should be clear about what you are going to use them for. If you have decided to participate in the so-called day trading, making investment operation in the span of 24 hours, it is wiser to monitor smaller intervals of time for price changes. If your goal is long-term investments, then you can allow for bigger intervals trying to find a trend and deciding on the best time to act.

To some, this probably sounds difficult and tedious. Fortunately, there are some very detailed cryptocurrency charts that can make it easier for you to recognize patterns and extract the information you need for a given asset.

You have alternatives as well. Given the popularity of the industry, many people with zero previous experience and knowledge have entered it in hopes of profiting. And that is why developers from all over the world have made it their mission to provide the necessary tools for the job.

Rule the Cryptocurrency Charts with Auto Systems

It is not a lie that understanding cryptocurrency price charts and making analyses based on the extracted information is not a simple thing to do. Many who trade online, though, have no experience and knowledge. So how are they doing it?

The answer is – with the help of systems for automated investment analyses. These are sophisticated trading tools that utilize state-of-the-art contemporary technology. They are equipped with the capabilities of monitoring and analyzing the cryptocurrency markets.

The Benefit of Systems

These platforms for automated trading do two things. First of all, there is the analytical part that spares you the need to actually understand how cryptocurrency charts work. Everything is done by the software automatically and in the background. You receive the summarized results of the analyses, along with straightforward suggestions how to invest in the short run. On the other hand, these systems can also run on full autopilot and not just analyze the available info charts of the different assets, but also place trades when profitable opportunities are discovered. Such systems provide you a complete hands-off investment experience.

You don’t need any specific knowledge or professional background in the field of finance and investments in order to participate in the industry. People from all walks of life are already doing it thanks to such systems for automated trading. All you have to do is discover the best and authentic software for your needs.

Chart Leaders & Opportunities

Cryptocurrency lists feature all known cryptocurrencies available to people from around the globe. Of course, there are some undisputed leaders. Their charts are the most followed and monitored ones. You probably know some of these names:

  • Bitcoin Network & BTC the bitcoin tokens are mined on this network. This is the first cryptocurrency to get decentralized and the one that started the financial revolution with its creation.
  • Ethereum Network & ETH – the tokens of the network are known as ethers. They have been maintaining a second position in the lists, with their chart showing clear trends and revealing opportunities regardless of the direction in which the price moves.
  • Ripple Network & XRP – this is not a traditional cryptocurrency network that utilizes blockchain and requires mining. Ripples have been an interesting investment for many, especially after its network infrastructure for recording information has been applied by major corporations.
  • Bitcoin Cash & BCH – going strong, the Bitcoin Cash is a hard fork of the original Bitcoin. That is why it is so popular among cryptocurrency investors. There are big expectations for it as one of the biggest competitors in the industry.

If you have ambitions in the online cryptocurrency trading industry, you have a huge choice. You can build a high-yielding portfolio or start slowly. Everything depends on your preferences. All you need to do is to consider your options and keep a close eye on how the prices move on the cryptocurrency charts.

Don’t forget that you are not required to possess professional knowledge. Nowadays, there are tools and solutions that can help you achieve everything with minimum efforts. You just have to be sure that this industry is right for you.

Find the BEST Crypto Tool

Investment solutions get released every day. But that does not mean each is good for your trading ambitions. You need secure and proven to work platforms if you want good returns on your investments. We have found the best among the best and we strongly recommend them. Visit the industry leader if you are eager to start trading.

 

To start making investments, do the following:

1. Go to the Official Website of the Platform

2. Complete the Sign-up Process

3. Start Trading


Jamie Portiss

My name is Jamie Portiss. Let me tell a little bit more about myself. I am a Financial Analyst by profession. Having worked my entire life in the financial services sector, I have managed to build a solid investment portfolio. It all began with a Bachelor’s Degree in Finance and right after graduating from university, I began working as a Junior Financial Analyst at a startup company, dealing with financial solutions. I want to bestow our know-how and understanding of the virtual markets (the cryptocurrency exchange, Bitcoin trading, and Altcoin investment spheres, in particular) with users. All that it takes is to do it the right way!

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