All You Need To Know About Cryptocurrency Trading With A Minimum Account
“How to trade cryptocurrency with $100?”, you might ask. It’s easy! But is it worth it?
Most Crypto brokers will allow you to open an account with as little as $100.
Cryptocurrency trading, an investment endeavor that involves the buying and selling of digital currencies, attracts more and more people from around the globe.
Thanks to today’s tech innovations, online crypto trading is easier than ever. The good news is that you don’t need a fortune to start trading cryptocurrencies. You can start trading cryptos with as little as $100.
We at Trading Education can help you understand the world of cryptocurrency trading. Simply sign up for our online Crypto trading course in order to become the next crypto king!
Why Should I Invest $100 in Crypto Trading?
Although cryptocurrency trading is still somehow veiled in negative misconceptions and Silk Road tales, ambitious traders know that the world of cryptocurrency is a big thing. Because of their decentralised nature, cryptocurrencies have the potential to revolutionise the whole financial sector and make financial transactions faster, cheaper, and safer.
Since most cryptos are based on blockchain technology in order to realise payments and transactions, experts agree that cryptocurrencies can change the world far beyond the financial sector. Let’s not forget that blockchain technology can boost the use of smart contracts and can be used to support the gaming industry, digital ownership, and medicine, among many other areas.
In fact, experienced traders believe that despite the ongoing pandemic, cryptocurrency trading and blockchain technology have the potential to become real game-changers. So now is the time to become a successful crypto trader!
Moreover, we should note that cryptocurrency trading is a great way to diversify your portfolio in order to increase your wealth and make a name for yourself in the world of trading. So, do you want to start trading cryptos with $100 today?
Can I Start Trading Cryptocurrency with $100?
Yes, you can start trading cryptocurrency with $100. With a wide number of crypto accounts, trading platforms, and regulated brokers, investing as little as $100 in crypto trading is more than possible.
Interestingly enough, there are many ways to make money in the world of cryptocurrency. From blockchain development and bitcoin mining through crypto faucets and Initial Coin Offerings (ICOs) to crypto gaming and advertising, the world of cryptocurrency offers numerous opportunities. That said, crypto trading is still one of the most popular crypto endeavours.
When it comes to trading, crypto traders can consider three main options: long-term investing, trading Contracts for Difference (CFDs), or day trading.
Due to their high volatility, cryptos actually make great day trading assets. Long-term investing, on the other hand, is more suitable for beginners – simply because all you have to do is buy cryptos, place them in a crypto wallet, and wait for their prices to increase. In contrast, trading crypto CFDs allows traders to speculate prices without owning any cryptos; it also allows them to trade small amounts using leverage. We should note that some cryptocurrency traders prefer arbitrage: to buy cryptos from an exchange and sell it to another one.
Given the diverse trading opportunities in the world of cryptocurrency, it’s no surprise that crypto trading allows you to start buying and selling digital currencies with as little as $100.
Should I Trade Cryptocurrency with $100?
Yet, just because you can start trading cryptos with $100, that doesn’t mean you should dive into the world of cryptocurrency trading with a small account. So, is trading cryptocurrency with $100 worth it?
First of all, let’s be realistic: trading won’t make you rich necessarily straight away. Always consider financial risks and possible trading mistakes. As both winning and losing are part of trading, experts advise traders not to risk more than 1% of their account on a single trade and to trade only money they can afford to lose.
On top of that, as cryptos are highly volatile, those who use leverage should be more cautious. Simply because they may find themselves broke without a proper risk management strategy! While a small account of $100 would prevent traders from losing huge amounts, crypto traders should also consider trading fees that might drain their savings.
Last but not least, before you start trading cryptocurrency with $100, do not forget that small accounts may lead to smaller profits, which can cause dissatisfaction, greed, and overtrading. In other words, although it’s possible to start trading cryptocurrency with a small account, make sure you are ready to dive into the world of cryptocurrency.
How to Trade Cryptocurrency with $100?
Even if you think that trading cryptos with a small account is worth it, are you mentally and financially prepared to start trading?
Well, whether you decide to start trading cryptocurrency with $100 or $100,000, you should invest enough time in exploring the complexities of crypto trading. One should invest in proper trading education in order to create a successful trading strategy. From online courses to webinars, make sure you understand the basics of cryptocurrency and blockchain technology.
Traders should be patient and give themselves enough time to establish a successful trading strategy. No surprise that practice means a lot. As trader Scott Melker, known as the Wolf of All Streets, said, “It’s almost like this long-term mathematical formula. If you execute, and you do it long enough, you just win a little more than you lose.”
The ability to read charts, historic data, price predictions, and technical indicators is crucial. Traders should also make a habit of following the news and social media announcements to seize the best trading deals. When new crypto forks appear, for instance, traders may even get free tokens.
On top of that, cryptocurrency traders must develop consistency and self-control. Emotional self-control is, in fact, a fundamental factor in cryptocurrency trading success. There’s no place for greed, fear, or overconfidence in the world of trading.
Last but not least, trading should not become an obsession. Trading is not gambling! Whether you choose to trade part- or full-time, make sure you can find a balance between work and personal life. As crypto trading is open 24/7, traders should set trading hours and allow themselves to relax. Experts claim that trading cryptocurrency shouldn’t become a mania and ruin other priorities. Always take breaks, focus on your social life, and live a healthy life. A healthy body can lead you to a healthy mind and trading success!
What Cryptocurrencies Should I Start Trading?
Now when you know how to start trading cryptos with as little as $100, it’s time to decide what cryptocurrencies you want to trade.
It’s not a secret that cryptocurrency trading has taken the whole world by storm, offering unique tech and financial opportunities. Since the development of Bitcoin, the first crypto ever, cryptocurrencies have grown in popularity. A decade full of changes!
As of 2020, there are thousands of cryptocurrencies with a total market cap of $324,716 billion, as per CoinMarketCap. Ethereum, Litecoin, Ripple, and so on and on; the number of altcoins one can trade is impressive. Here you can learn more about the top cryptocurrencies this year!
When it comes to new coins, though, always be mindful of crypto scams and frauds. A good trader knows how to spot crypto scams in order to avoid falling victim to fraudsters.
Another important aspect of crypto trading is cryptocurrency regulation. Alarmingly, crypto regulations around the world are way too confusing, so make sure that the trading of crypto-assets is legal in the country you’re based in.
- Cryptocurrency trading is one of the most popular forms of trading, which is growing in popularity across the globe.
- Crypto traders can choose from different coins and trading strategies in order to tame the volatile world of cryptocurrency trading.
- While Bitcoin is still the most traded virtual coin, altcoins such as Ethereum, Ripple, and Litecoin are also popular assets.
- In today’s tech-driven world, one can easily start trading cryptos with as little as $100. Always treat your small account as a big one and be mindful of scams and crypto regulations around the world.
- Before one starts trading cryptocurrencies with a minimum account, they should invest in a good trading education, an effective risk management strategy, and emotional self-control.
Trade With the Largest Social Crypto Trading Broker
Now you know how to trade cryptcurrency with just $100
Whether you’re just getting started or ready to take your trading to the next level, eToro can help. As the global market leader in social trading, eToro provides the ability to buy Crypto assets and CFDs on up to 90+ cryptocurrencies. Crypto Traders can build a diversified portfolio with the most popular coins.
How to Deposit USD To Trade cryptos
eToro is one of the simplest ways to trade Bitcoin and other popular cryptocurrencies. eToro allows you to open an account and being trading in cryptos right away.
Check out eToro here and see how easy it is to get started trading Cryptos.
What is the minimum deposit requirement to open a crypto trading account?
The minimum deposit requirement at eToro is $200 for Non-US or AU traders. US and AU Traders can open an account with just $50.
Would you start crypto trading? Do you think that starting off with $100 is a good idea? Let us know in the comments below.
Disclaimer: Cryptocurrencies are highly volatile. Your capital is at risk and Past performance is not an indication of future results.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.