Crypto is no longer a smoke and mirrors fad! Today is has become a trillion-dollar market with massive companies and countries investing billions. Tens of thousands of people trade every days with varying results. If you have ever wondered if it's actually possible to make money in crypto, this is the blog for you!

We'll talk about the different types of trades out there and help you figure out if any of them are right for you. An as always, The Crypto Code is there to help you along the way!

What’s Driving Crypto Traders?

Why do people get into crypto trading in the first place? What's so appealing besides the dream of making fat stacks of cash? Here are a few of the reasons folks get into crypto trading in the first place.

High Potential Returns
With great risk comes possible great returns! Of course the biggest reason people get into crypto is to make money. New, small coins have huge volatility which can offer the potential to make huge returns on your investments. Major coins, also known as "stable coins" can provide great long-term grown.

Either way, the most common reason people get into crypto is for the earning potential.

24/7 Trading
Every day the major stock exchanges close at night. There are some opportunities for after-hour trades, but for the most part, they close down. That's a major contrast with the crypto market that's open 24 hours a day, and 7 days per week.

Global Access
While there are some governmental restrictions on exchanges that can be accessed from certain countries, for the most part, the crypto market knows no boundaries. You can basically trade any time from any where. 

1. Day Trading Crypto

Day trading is a great way to make money in the crypto market. Basically, you buy and sell coins in the same day to rate advantage of short-term price increases and drops. Just like day trading traditional stocks, you can either long or short crypto trades, meaning you can make money no matter which way the market is going.

There are a ton of tools to help you win more often when day trading like leveraging charts, bots, indicators, and trends.

Here at The Crypto Code we follow a program that leverages all these tools to help our students consistently make better trades and ultimately increase their profits.

2. Swing Trading

Where day trading can be a bit of a wild ride, Swing Trading can be much more relaxed. In contrast to making hourly trades, swing traders will hold their coins for days or weeks, hoping to gain short-term price swings.

3. HODLing (Long-Term Investing)

If the term "HODL" seems strange to you, that's because it is! It actually started as a typo for the word "hold". Since then it has become a meme and folks that hold Bitcoin for the long term are generally known as HODLers and a verb for long-term investing has become HODLing.

Historically, long-term holds on stable coins like Bitcoin have proven to be profitable as you can see by the chart below with Bitcoin up 917% over the last 5 years.

If you're a firm believer in crypto and it's future, long-term holding may just be the strategy for you.

4. Scalping

Scalping is like day trading on steroids! It's all based on making tons of small and frequent trades in order to take advantage of small price movements up or down. Scalpers will often make dozens or possibly hundreds of trades in a single day, leveraging sheer quantity to make up margin.

Technology has been a game changer for scalp traders. Most of them rely on crypto trading bots to automate the work, since it would be nearly impossible to do it all manually.

5. Using Crypto Trading Bots

As I mentioned above, Trading Bots are leveraged to automate trades on your behalf. They use preset rules that you establish and then make the trades. A good example of this would be to have it buy Bitcoin during a drop and have it sell when it goes back up.

These bots are offered by many of the major trading platforms and make life much easier. The only downside is that platforms with these services, will often come with a higher monthly fee than their competitors.

If you're interested in working with bots, here are a few of the platforms that include these capabilities: like 3Commas, Pionex, or Cryptohopper.

6. Copy Trading

Copy Trading, which often comes in the form of Trade Alerts, is the act of taking action on recommended trades. In some cases, you can simply have a platform automate copycat trades of experts and their portfolios.

The Crypto Code offers Premium Trade Alerts which makes trade recommendations based on research done by our expert team and tools. With these alerts, we have a 93% win rate. You can see our public trade record at trade.thecryptocode.com.

Essential Tools for Making Money in Crypto Trading

There are a number of tools that have been created to help you succeed in your crypto-trading journey. Here are a few to help get you started.

Crypto Exchanges
Coinbase, Binance, Kraken (This is where you actually buy/sell).

Charting Tools
TradingView, Coinigy (This is for technical analysis).

Portfolio Trackers
CoinMarketCap, Delta, Blockfolio (This is to track your coins).

News Sources
Thecryptocode.com/crypto-news, CoinTelegraph, Decrypt, The Block (This is to stay updated on market events).

Trading Bots
3Commas, Pionex, Cryptohopper (This is to automate strategies).

Risk Management

Here is some IMPORTANT advice for you to follow when trading crypto

INVEST money that you could lose without financial burden.

IMPLEMENT stop loses to mitigate the downside.

DIVERSIFY your portfolio so you can't lose all your money on one trade.

LEVERAGE a tried and true program like The Crypto Code to get the education and tools needed to make your experience more enjoyable and to maximize your profits.

Final Thoughts

There is plenty of money to be made in crypto. Caution should be used when exploring and trading in the developmental market. If you have the right tools and strategy, there are huge opportunities to take advantage of. Find the trading strategy that works best for you and BE DISCIPLINED.

Join Our Free Crypto-Trading Workshop and Get $10 in Bitcoin
Not a member of The Crypto Code Yet? Join us for a free workshop to learn how you can increase crypto profits while minimizing risk. We'll pay $10 in BTC to everyone that attends, pays attention and takes a short quiz.

PLUS everyone who registers for the workshop above gets one FREE weekly trade alert for life.