Before you start trading Ether, you need to understand that the capital market operates on a supply and demand balance. This is what turns our attention to the supply of Ether, which unlike Bitcoin, is unlimited. Ether is the second most popular cryptocurrency in the world after Bitcoin and has already proves its potential in the market. Ethereum Mining is one of the fastest growing industry as investors are converting their BTC into Ethereum to make profits without any difficulty.
Ethereum is traded mostly in Asia and China. In order to evaluate the worth of Ether in the near future, one needs to be aware of the new applications being launched in China. Enterprises such as ChinaLedger Alliance are seen promoting Ether technology, that’s attracting more and more investors and traders to this platform. Organizations like the ChinaLedger Alliance are pushing Ethereum technology forward, so that is a positive sign for Ether traders and investors.
In case you are wondering how to trade Ethereum easily, here’s a quick guide for you.
Basically, there are two ways in which you can trade Ether- through the Buy and Hold method, and through Active Trading.
Owing to the extraordinary rise in the value of cryptocurrencies in the last couple of years, many traders are using the buy and hold strategy. This involves buying Ether exchanges and storing them in a safe place, or in more technical terms, in a cold storage. You can either store your Ether cash in hard wallets or in paper wallets. However, storing Ether on your mobile app/web wallet/desktop wallet for a longer period is not really a good option.
If you wish to opt for a hardware wallet, then Trezor is a good option to go with right now. This hardware wallet stores both Bitcoin and Ether. It is compact and cannot be hacked online or offline. This easy-to-use wallet lets you create a backup so that you can restore your account will all the details even if your device is damaged, stolen or lost. If you are looking for pending orders, then it can be a little tough deal. Not every exchange allows you to set a pending order and put an end to losses as the Forex brokers do. However, exchanges such as Poloniex allow users to set their stop-limit orders.
One major problem with active Ether trade is that you can store earnings in fiat currencies only on some specific exchange platforms. Thus, if you have sold off some of your Ether earnings, then you may very well have to transfer the cash in your bank account so as to lock in your current profits.
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