Cryptocurrency exchanges want the traders using their platform to be successful. The more successful an exchange's traders are, the more successful the exchange is as a whole.
In an effort to make their traders more successful, a lot of cryptocurrency exchanges offer resources and assistance that make it easier for fledgling traders to learn how to successfully trade cryptocurrencies. The following are six things you can do on your cryptocurrency exchange to learn more about trading.
Study the graphs
All cryptocurrency exchange platforms offer graphs and charts that show how the prices of various coins have moved up and down in the past. For example, exchanges will typically offer candle charts that show the movement of a coin's price within a given increment of time such as days or hours.
Studying these graphs and charts is the way to learn proven strategies to make money in crypto. By learning technical analysis and using your exchange's graph information, you can significantly increase the profitability of your crypto trading ventures.
Read the blog of your cryptocurrency exchange
Another great source of information that most cryptocurrency exchanges offer is a blog. You can follow the blog of your exchange to learn about promising new coins. A cryptocurrency exchange blog offers helpful trading tips and news and updates on all the major coins.
Join the email list of your crypto exchange
You should definitely be on the email list of your exchange and pay attention to any emails your exchange sends out. These emails could provide helpful information on changes the exchange has made to the platform that could impact how you buy and sell crypto.
Use a cryptocurrency trading simulator
Some exchanges may offer features such as trading simulators. With a trading simulator, you can practice trading crypto without risking any money. This is a great way to learn the ropes of trading before you start putting real money on the line.
Watch cryptocurrency exchange prices over time
Simply watching your exchange to see what crypto prices are doing can be a great way to learn. In fact, it might be a good idea to observe prices for a while before you make an actual crypto purchase.
Do your own trades
Of course, the best way you can use your cryptocurrency exchange to learn about trading is by actually trading. Becoming a successful trader takes practice and experience.
If you are still learning how to trade, you can invest smaller amounts of money at first until you begin to feel confident enough to risk more significant amounts. Contact a Canadian crypto exchange to learn more.