You’ve probably heard of cryptocurrency by now. If you haven’t, what rock have you been living under? It’s exploded in the last three years to the point where it’s changing the financial landscape as we know it.
We’re getting to a point with crypto now that is going to see it fall into mainstream use. 2021 is already gearing up for financial regulation and bank adaptation, and several corporations have already started experimenting with it to clear overseas debt.
The future is looking very bright for crypto, but you need to get in now before it’s too late. When you trade with Crypto Engine, getting on the rocket before take-off is a very real possibility. We do what we can to get you up and trading as quickly and seamlessly as possible.
We’ve built our own homegrown trading software to help you do this. Our software analyses the market data and uses that information to make your trades for you.
This means that you get to stay away from all of those charts and graphs, leaving you enough time to get in on crypto before it’s too late.
Our bot is made up of two key components.
First is the numerical side of the system. Like other trading software platforms, our algorithm is capable of reading detailed financial information related to a particular coin.
It analyses volume, price trends, as well as historical data in order to predict where the price of the coin might go. It does this far quicker and more accurately than a human. Financial analysis is all well and good, but it excludes one key part of the puzzle, which is human influence.
There are two major specific areas of human influence on the short-term price of a cryptocurrency. First of all, we have the strategy of buying and selling the news. Whether you like it or not, the media plays a large part in the short-term swings that a price goes under. Some traders take advantage of this to make some quick trades.
Swings like this can throw a trading bot through a loop, which is why we have a system in place to prevent this from influencing our system’s decision making. Aside from that, the movements of whales also affect the price of any given cryptocurrency.
When someone instantly buys or sells 10s of millions of dollars’ worth of a coin, it’s going to have a short-term affect. Like with the news, we have programming in place to prevent this from interfering with your trades.
We’ve talked about our trading engine, but that’s not the only reason that so many traders are using us to get involved with crypto.
One of the biggest reasons that so many new traders are getting on board with us is because we offer all of Crypto Engine completely free of charge.
There are no signup fees, no subscription fees, and no hidden charges. We’re partnered with a number of different crypto brokers that our bot trades through, meaning you get access to everything we have on offer for free.
To understand what makes crypto so important, you need to know a little bit about the history of the industry.
Out of all the cryptos that we trade here at Crypto Engine, there are a few specific ones that we think you should be keeping an eye on.
Despite being technologically outclassed by other coins, Bitcoin remains the undisputed king of the cryptocurrency world. It’s the first coin to ever be developed and serves as the poster child for the entire industry. Every respectable crypto trader has at least some Bitcoin in their portfolio, so make sure you’re doing the same.
Ethereum is the successor to Bitcoin and the coin most likely to topple the giant’s market dominance. It has far more utility than Bitcoin to the point where other coins are making use of the Ethereum blockchain. No matter where you’re putting your money in crypto, some of it should be going to Ethereum.
XRP is a dark horse in the crypto space with it maintaining a low price point for years until it suddenly surged towards the end of 2020. The reason for this is because it offers quicker and easier transactions than any other coin on the planet. Several major financial institutes are considering the adaption of XRP into everyday life, leading investors to consider it a possibility for a major bull run.
You’ve likely heard this buzzword being thrown around the crypto world a lot, but it’s a small word for a large and impactful aspect of crypto.
With traditional fiat currencies, there is always a central power in charge of the money. Governments and banks decide when to print new money and how much to print.
The issue with this is that it leads to staggeringly high levels of inflation. The value of a dollar today is far less than that of one 20 years ago. This downward trend is only set to continue in the coming years.
With crypto, there is no power center. As a result of blockchain technology, there is no single group or person in charge of a coin.
This protects crypto against long term depreciation and is one of the leading factors in the viewpoint that cryptocurrency is set to replace regular fiat currencies.
With the fundamental explanation of decentralization out of the way, the method through which new coins are created comes to light. If there is no authority in charge of the money, how do more come into circulation?
The answer to this is through a process called mining. Blockchains are massive technological feats and require a lot of hardware to keep operation running smooth. There are no corporations in charge of housing this technology, meaning that the responsibility of it falls on the public. The people who rise to this calling are dubbed “miners.”
These miners dedicate their computer hardware to the blockchain, and in exchange, the blockchain produces fresh crypto units to them as payment.
Thanks to the influx of new traders to Crypto Engine, we’re constantly being bombarded with questions. Our team struggles to keep up with all these questions, so we’ve put together a short FAQ for you to have a look at.
Crypto being inflation proof is a massive selling point of the technology. However, how can something be inflation-proof if it has an unlimited supply? It can’t, but crypto doesn’t have an unlimited supply.
There are hard limits built into every cryptocurrency that dictate when the production of new coins is going to stop. It’s not for at least one hundred years into the future, but the hard limit is there.
This is another massive selling point of crypto and one of the contributors to every coin’s ever-increasing price.
New traders tend to feel overwhelmed when they first start trading crypto. There are so many choices to choose from, and they often struggle to decide where to put their money.
At Crypto Engine, we recommend that you don’t just pick one coin. Crypto can be volatile, so you need to protect yourself by diversifying your portfolio.
Invest in Bitcoin, Ethereum, and XRP in equal measures, and you stand the best chance of minimizing your losses and maximizing your gains.
When you first sign up and see that the price of one Bitcoin is nearly $20,000, it can be a real shocker.
Thankfully, Bitcoin can be divided into subunits, just like a dollar can be divided into cents. These smaller units are called Satoshi.
You can invest as little as one dollar into Bitcoin on some platforms, so don’t worry about saving up $20,000 so that you can make one single trade.
You don’t need any set hard limit to start trading crypto. A couple of dollars a week is all that a lot of successful traders dedicate to the industry.
However, most trading platforms have a minimum deposit limit on any money you put into your account. Crypto Engine is no different.
Our minimum deposit limit is set at $250. This is low enough to present a small barrier for entry while still giving you a reasonable starting point to build your portfolio off of.