With a little patience and smart thinking these CoinSwitch Kuber trading tips can help traders turn their cryptocurrency trades profitable.
CoinSwitch Kuber Trading Tips- Rule #1
This might not sound that important but never trade with borrowed money or use the margin trading facility offered by cryptocurrency trading platforms in India like WazirX. Unlike stock markets, Cryptocurrency trading is a very tricky business and on a day when things go south, there is a very high chance of your capital wiping out in a matter of hours. So no margin trading is our rule number 1 to stay profitable.
CoinSwitch Kuber Trading Tips- Remember that there is no short selling option.
If you are a stock market trader then you are aware of the profit-making short sells on a bearish market day. But too sad, CoinSwitch Kuber and many other major cryptocurrency exchanges in India don’t offer the short sell option for Cryptocurrency on their platform. So remember that you won’t be able to make money when the Bitcoin or the Dogecoin price is falling.
CoinSwitch Kuber Trading Tips- No Limit Orders
This is bummer, everyone who uses CoinSwitch Kuber must be feeling the same. For some reason Coinswitch is not opening the limit orders option, whatever that reason might it puts the ordinary retail traders at a disadvantage. Without limit orders, you won’t be able to buy and sell the cryptocurrency at the prices you want to, instead one often ends being the victim of market prices.
Update on 12-04-2022
This is an update to the article. Coinswitch Kuber has now introduced the Limit order where users can place the order at a certain price. The order gets executed only at the price of the limit order. However, after introducing the Limit orders, Coinswitch started collecting transaction fee to the tune of 0.3 to 0.4% of the order value. Previously the commission was acquired through the difference in the spread value. This is definitely a good move from Coinswitch.
CoinSwitch Kuber Trading Tips- Stay Updated with Cryptonews.
There are a lot of websites and apps that offer latest cryptocurrency news and trends. Remember that Cryptocurrency prices are influenced a lot by the market news and various updates like central banks circulars, political leaders comments, etc.
Exploit the advantage of Social Media and get real time updates from cryptocurrency markets form various countries with different time zones. This will enable you to be one of the early traders who gets in at lower prices before the trading hours peak in local time zones.
CoinSwitch Kuber Money Withdrawal Tips
Every time you login from a new device, Coinswitch disables your accounts withdrawal ability. This is being done as an extra measure of security, which doesn’t really make that much sense. You will only be able to withdraw your funds 48 hours after logging in from a new device.
Stay tuned for more updates from the world of Cryptocurrency. Wishing luck and happy trading.
