Where To Trade Crypto: The Best Platform To Swing Trade Crypto

Cryptocurrencies are on trend right now, to say the least. That is why there has been an upsurge of new platforms and exchanges that welcome new and existing traders to delve into the world of crypto trading. While there are many significant factors to look for when deciding which one will be the most suitable for your investment needs and ambitions, like security and a user-friendly interface, it’s important for a crypto trader to have an abundance of options when it comes to their strategy.

Swing trading is one of those strategies that is available on exchanges, such as NAGAX, as it offers the option for a multitude of strategy variations through its features.

First, let’s understand what we mean by the term swing trading.

Swing Trading

Swing trading is a strategy where a trader aims to benefit from a financial instrument’s change in price direction. It requires traders to maintain their position for a short to medium period of time. It accommodates a blend of two diverse spectrums of crypto trading: day trading and long-term trading.

Day trading refers to very short term crypto trading where traders buy and sell, even multiple times, in a single day. The aim from this type of strategy is to profit from the price fluctuations of cryptocurrencies and bypass their volatility. That’s why it heavily relies on technical analysis, which means as traders cannot afford to focus on the underlying value of cryptos, they instead pay more attention to their past trends to predict how they will move in the future, and determine accordingly when to buy and sell their digital assets within the day.

Long-term trading refers to investors who opt to buy and sell their assets over a much longer period of time, which normally means years on end. They don’t necessarily focus on the price fluctuations of a cryptocurrency on a weekly or monthly basis, and hold on to them for years. Such types of traders usually rely on fundamental analysis, which unlike technical analysis, does focus on the underlying value of a digital asset, through a number of vital metrics. Since cryptos are held for a significant amount of time, their price and underlying value end up converging.

Investors who are involved in day trading need to be very hands-on with their investments and aim to have consistent returns from their crypto trading. On the other hand, long-term investors do not need to constantly have their mind on their digital assets, and only make one  decision regarding their investment and stick with it for years.

Swing trading investors do not solely focus on either of the two, but instead rely on both for their profits. They don’t follow the extreme spectrum of day trading or long-term trading. It sees traders hold their position from a couple of days to a number of months. In this way, the aim is to gain an advantage from both strategies and analysis, meaning that it still requires a lot of knowledge around metrics and price patterns, and a lot of patience in understanding all the data that is necessary to go about swing trading.

Why is NAGAX the best platform to swing trade crypto?

NAGAX, although one of the newest crypto trading platforms, has gained massive popularity and already has over one million users. It offers competitive trading conditions and allows for traders to choose their most practical and beneficial trading strategy that will acquire them the highest returns from their investments.

NAGAX supports a variety of cryptocurrencies, including the most popular and well-known ones, such as Bitcoin and Ethereum. It gives its users a simple, clear and easily navigable interface, a fully-secured crypto wallet and systems and a reasonable fee structure that allows traders to put their main focus on choosing the right strategy for them and get going with their crypto investments.

The most important thing to know before choosing your crypto trading strategy and experimenting with swing trading, is not only to have figured out the best crypto exchange that will cover all your strategy needs, but also to focus on gaining as much knowledge and information as possible on your own. The crypto market, due to its volatile nature and new concepts and trends, can be a tricky one to get accustomed to, and the more you learn about it, the more comfortable you will feel with investing your money in digital assets.

 

Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you cannot afford to lose.