Before stepping into the Forex trading market, you need to have a certain strategies in mind. A well thought out Forex trading strategy can be your key to success. It can also keep you on the safer side and help to minimize your losses.

Implement a Proper Trading Plan and Dont Trade Beyond Your Means

It is very important to have a trading plan and when dealing in Forex trading. Once you have a plan, let nothing deter you from it. Remember, there is no place for emotions in trading. Following your emotions blindly is a sure shot recipe to disaster. Whenever you trade, it should be in a cool and calm frame of mind.

A very good Forex trading strategy is that you should only speculate with money that you can afford to lose. Not to say, that you want to lose anything, but whenever you invest money or trade in it, you should always use money that you can do without, money that is in excess of your requirements. It is never a good idea to touch upon the money that you require to run your house and fulfill the basic requirements of your house.

Understand the Trends of the Market

In Forex trading, market trends are your closest friends. If you are able to understand trends and make somewhat accurate predictions, you will be quite successful as a trader. Understand that there may be short term fluctuations in the currency values. After all, the market is volatile. However, you should always refer to the long term trends and not be worried about periodic ups and downs.

Another important Forex trading strategy is riding the Forex market till it shows signs of turning around. Do not be greedy and ride the win too long, else you might just be caught off guard and lose money.

Trade Wisely

A lot of newcomers tend to look for some signs or leading indicators that will help them make a good trading decision. The truth is, in the Forex market, there is no guarantee that youll be able to predict the future accurately. Some software can help you make calculated speculations, but they could easily swing one way as the other.

A sound Forex trading strategy is that you should stick to popular currency for trading and stay away from thin market. Since there is very little public participation in the thin market, you will not be able to liquidate your position easily. Moreover, trading in too many markets is not advisable. Stick to the popular currency pairs till you learn to do better.

Update your Knowledge

Lear, learn and learn some more and thats a Forex trading strategy that will never fail you. Work towards gaining in depth knowledge in this field, so that you can become an astute trader. Read up as much as you can on the subject and add to your existing information. While a newcomer can get by with some general guidelines and tips, a seasoned Forex trader will need more knowledge to make decisions.

#1. Bitcoin (BTC)

Present, past, and future – Bitcoin has become a timeless asset for cryptocurrency traders. No matter what cryptocurrency trading instrument you choose, you can bet on bitcoin. 2017 is already a bull run moment for bitcoin. There has been a consistent rise in its value.

In the past one year, its value has only seen an upward trend. Even COVID-19 led economic crisis couldn’t slow it down. The recent USD1.5 billion investment by Elon Musk’s Tesla has given it a new height.

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#2. Ethereum (ETH)

Ethereum’s consistency over the past one year makes it the second most preferred cryptocurrency to buy and sell. Citing the current ETH price (USD1825), you can easily get almost 29 times more ETH than BTC at the same deposit. Long-term or short-term – Ethereum could be a prudent thought.

Its current market capitalization is $209,443,778,508 USD and it maintains a healthy circulating supply of 114,977,310 ETH coins. What guarantees the security of the Ethereum network? Ethereum is secured via the Ethash proof-of-work algorithm, derived from the Keccak family of hash functions.

#3. Binance Coin (BNB)

Until January 2021, BNB was not even in the top 10 cryptocurrency coins. Since then, the Binance coin has witnessed an almost six-fold growth in its value. It shouldn’t surprise you considering the age of the cryptocurrency.

BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. Considering the current Binance coin value, i.e., $272.44 USD, which is almost 20 times lesser than that of BTC, it’s easy to conclude that owning more BNB can make you richer if the price goes up further.

#4. Cardano

In just four years of its inception (founded 2017), Cardano has become one of the favorites of cryptocurrency traders that take market capitalization to USD 37,939,127,099. Over the past one year, its value has grown exponentially from USD0.17 to USD1.20, which is almost over six folds.

What does secure Cardano? Its security is maintained through an “environmentally sustainable, verifiably secure” PoS protocol, popularly called Ouroboros. It’s delivered by a PoW consensus mechanism while using substantially less power.

#5. Tether (USDT)

Tether belongs to a new breed of cryptocurrencies called stablecoins. Its value is fixed at USD1. On the contrary to the volatility of other cryptocurrency coins like BTC, it aims to maintain a stable valuation. This attribute makes it a preferred medium of exchange like USD or any fiat currency, and a mode of storage of value, instead of being used as a medium of speculative investments.

The Wall Street Journal, based on CryptoCompare data, reports that 80% of all bitcoin trading is done in Tether, and the stablecoin is a major source of liquidity for the cryptocurrency market.

#6. Polkadot (DOT)

Polkadot’s growth after December 2020 to till date has been phenomenal. It has attained almost seven times growth. DOT is a unique proof-of-stake cryptocurrency. It was conceptualized with a mission to deliver interoperability between other blockchains. It bridges permissioned and permissionless blockchains as well as oracles to allow systems to work together under one roof. Its current value of USD36

The interoperability of varying networks is facilitated by its relay chain. It also allows for “parachains,” or parallel blockchains with their own native tokens for specific use cases.

#7. XRP (XRP)

Wise investors make the most out of the little investment they do. Hence, do not ignore XRP trading citing its low value (USD0.48) today. The usability of its underlying XRP Ledger into the mainstream banking and supply chain for real-time gross settlement has increased its adoption, and its value is likely to see new heights in the near future.

XRP runs on the RippleNet platform which is built on the top of a distributed ledger called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.

#8. Uniswap (UNI)

Though Uniswap comes at #8, its resilience amid COVID-19 led economic crisis is appreciable. This is the only cryptocurrency that hasn’t seen a downward movement since its launch in September 2020. With its current value of USD 33.42, it comes as an incredible choice for all types of investors – beginners and advanced.

#9. Litecoin (LTC)

The consistent rise in the market capitalization and circulating supply of Litecoin makes it a potential investment instrument. Its current value is pegged at USD198.89. It has never disappointed its investors since 2014.

There is a fundamental difference in the underlying technology of BTC and LTC. It uses a hashing algorithm, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees.

#10. Chainlink (LINK)

Chainlink (LINK) derives its underlying technique from a decentralized oracle network that aims to connect smart contracts with data from the real world. Sergey Nazarov along with Steve Ellis developed it, and was launched through an ICO in September 2017. It raised USD32 million, with a total supply of 1 billion LINK tokens.

Best Trading Platform 2021

Presenting a user-friendly, comprehensive, and secure trading platform, PCEX Member, has become the preferred cryptocurrency exchange toBuy BTC in Indiaor non-BTC cryptocurrencies. Every 24 hours, the trading platform witnesses a transaction volume equivalent to USD2.5 billion. High liquidity, smaller lot size, and lower transaction fees have made it a heaven for inventors – big and small. They can easily, quickly, and safely grow their funds. Benefit from our Knowledgebank that guides you to invest funds and hedge them wisely like a professional. It’s free.

In this modern world, people are going cashless, to an extent you’ve never seen before. If you are not enjoying thebenefits of digital payment apps, you’re actually falling behind times. Pretty much everyone is using e-wallet mobile apps or online payment gateway models for their daily transactions. The reason for this is that these apps provide a secure, easy and fast environment for online payments. this article will cover the best practices to ensure eWallet security.

Looking back just a decade ago, people used to wait in the queue at ATM’s to deposit or withdraw their money. But, nowadays, people prefer using e-wallet mobile apps for easy transactions to avoid the advantage of instantaneous transactions with convenience. Not only the users that are adopting e-wallet technology in their droves, but now also the business owners are joining in with plans to integrate gateway payment solutions into their own business offerings.

Many are predicting that the concept of Fintech, eWallet and other payment apps influenced by technologies like NFC, blockchain, QR codes and so on, are going to own the market in upcoming years. So read this blog until the end if you want to know more about the top eWallet solutions, along with the features and average cost.

Technologies For eWallet Security

There are various powerful technologies or solutions which can be implemented into eWallet applications. These solutions make the app more secure, easy and reliable to users. The most common technologies used ineWallet Mobile Appsare mentioned below.

NFC Technology

The NFC or Near Field Communication allows users to transfer funds without sharing the contact details. This technology deals with easy data exchange between closely located devices. NFC allows users to make payments directly with their smartphone – instead of payment cards. Some of the successful examples of NFC are Samsung Pay and Apple Pay. In addition to this, NFC also allows the transferring of funds by simply touching one smartphone to another smartphone.

Bluetooth or Beacon Technology

These allow you to identify nearby devices that you can make a payment to. This a very fast and secure technology to use for transferring funds digitally. You can transfer funds to other users who are close to you or who are in the prescribed transfer range.

Blockchain

Digital wallets integrated with blockchain technology are extremely safe, secure and immutable when compared to other solutions. This technology is preferred mostly by financial organizations and government agencies due to the high level of security associated with blockchain. Blockchain is also very enticing to these large organizations due to the extra features that blockchain technology offers, such as decentralization and being able to offer tokens.

QR Codes

QR Codes are generally used for making payments or transferring funds to other members of the public. It is also used to make payments with contacts that are not saved in the user’s phone already. For making a payment, users just have to scan the QR code of the receiver. This technology is one of the smoothest and most simplified ways of making payments.