₦airaland Forum

bradwilli:
I bought E th from luno now and 12k was deducted as their fee. I don tire. How can i buy without them taking this exorbitant fees plss

Luno cahrges you a taker fee when you market buy. This further affects their liquidity on the Eithy peer as folks don't buy quickly.

I wonder why folks keep complaining about Luno when u can switch to others

Enyinne:
Thanks . On binance , i don't know how to make the account start working. And on luno my limit is 200k , pls what do i do to increase deposit amount . Thanks

On luno, you have to increase your verification level. Same thing with binance I think.

They both would ask you for some documents

elmas:
Sirs in the house should we agree that one can buy liink, dot, Ada, aave for a long time?? Let's say 3 months, is it possible to know the time frame?? because I just read where someone who started with a 300k capital is at a loss now

Thanks a lot

Cc jedisco

Hehehe... You guys are asking to take responsibility for something outta my control.

In this market, you can lose and loose heavy.. Those who margin trade can even wipe out their account in seconds...

The best way to profit here is to learn the ropes, plan your trade, trade your plan and manage risk

aliadi2:
Hello jedisco how were you able to bring out the chart you showed above for 5 years on binance . i keep trying but all it keeps show is 1 month back

It depends on the timeframe you select. This is not on Binance though... If it's only showing you for a month, it's likely youre on the 4hrly time frame. If you switch to the weekly chart, it'd show u for a longer period. If on a computer, the size of your screen matters

luvlyoracle:
So this coins you mentioned, you advice we get them At this point bah...also is ADA a good buy

Hehehe... It's not financial advise... Can go both ways... just sharing tips on coins I'm following which can be a guide for some.
I wouldn't advise anyone to blindly follow other people's trades

Enyinne:
Pls trading on binance , Remitano and luno which is best , pls advise.
Meanwhile i hv luno currently running but binance acct am stocked. How do I create account with binance too. Thanks for responding

There are lots of exchanges and I advise people to use one that works for them.

Remitano is mainly a p2p platform (person to person) and I haven't used it though I have an account there.
I've put up my thoughts on three exchanges- Binance, Luno and Bundle. Binance has liquidity, cheap fees, lots of offerings and has been around for long.

Where are you stuck on your binance account?

FlyHeight:
In my opinion no one should buy rip and forget it or hold it too much, I trade it daily sha, and it’s been very good to me, but I do mine based on any 1-3 Naira increase in price which always happens at least twice daily, this morning I work up to a pleasant surprise from rip and eith

I buy and dump my rip within hours doe never sat on it for 24 hrs

If it's profitable for you why not.... most new folks here will not have that skill

2 secrets to learn are patience and timing will attach 2 posts I made early late December when everyone thought altys were dead. Looking back, that was a fantastic time to enter and it was so obvious.

I got into dot around this time and it's done x4.5, I've taken huge profits and moved to something else.

A few pages back, I gave a simple advice on trading this market which is working for me. Target coyns flipping ATH. Not very often do you get lots doing that. If you trade you'd know how difficult it is gor a sensible coyn to break ATH.

I mentioned 3 offerings Link, Ren, Aave..

When I said that, Ren was at 0.6 now its approaching 0.8... Thats 33% in a week... I'd start taking profits on it soon, buy back cheaper and wait for round 2. Such bid moves come in 2-3 waves...

Link has given ample opportunity at the 20 level... When it moves, it wouldn't look back. That's when folks will be asking can I buy link after its done 100%

For Aave, I got in at 105 and rode it to 200... I'm expecting 300 from it... You can get in for second half

I'd add Atom as a bonus... It's retracing. If you get it at anything between 7.1-8, dont blink

Of course, all these are dependent on betece holding.. once it corrects, everything does thats why it's good to be in good projects so you dont keep holding forever.

Folks have taken position. In the near future people would start looking to jump into what has moved

jedisco:
Not expecting anything close to those numbers although we're seeing some staggering candles already. The market flows in cycles irrespective of where fresh money is coming in from. Of course the king will outperform the rest in the long run. But usually, there's a 3-6 month cycle of dominance between btz and others... Once many think one group is dead that when it wakes up. The mistake most make is jumping from one top to another top.

Funny enough, all the noise goes to btz but eithy has outperformed btz since the March crash and is likely to perform even better over the next weeks. I'm looking at majors first. My concern is that a significant pullback can happen at any point

jedisco:
To add to this, for those who trade, it's good to know what you're good at...

Are you a day trader, a swing trader or a HTF trader?... I usually prefer to trade the high time frame and I'm less concerned about daily movements. I believe it's in major movements that most money is made or lost. Truth be said, betece usually gives 2-3 of such major moves a year.

Betece has been running the party for almost 3 months now. I believe over the next two months, the major money will move to altz.. That's how the market cycles. I might be wrong but thats how I playing it. Selling your altz into betece now may not be advisable. Its like selling the bottom ti buy the top. I've made such errors in the past and lost out on both ends

Take a step back and see that betece has crossed all time high... It's likely others will make good moves.
With altz, entry and exit is everything... 20k to 28k on betece is a 40% move... When the time is ripe, some altz will give double that percentage in weeks... Already some have printed delicious candles. Just remember to take profits along tge way cos the volatility will be huge too.

I see alot of new traders eager on exrp and I'm going to give a very simple illustration.

In this market, you want to analyse others mistakes and learn from it.

New traders see it as being cheap as against the big coyns. Moreso its in top 10 and they can own lots of it. Hehe... I made that mistake too...

I attached a simple monthly chart of exrp against betece for the past 3 years and the trend is very clear... Lower highs and lower lows. Continuous downtrend. Thats not what you want to be in. If you want to trade an alyt, trade one showing strength against betece or eith or youre better off sticking to those two.

The reason I'm saying this is cos it's a bull market. Everyone will make money now but it's the lessons you learn that mean gou dont lose it all afterwards...

That said, I have a good amount or exrp on ehich I've made good money on but there are much better products out there

Understand that altys are speculative and have little or no inherent value. It's a bit better now cos of stable coyns. Before, people only used altys to increase their betece. New money usually comes through betece and that's why it's the safest place for a new trader.

When betwce corrects, all others correct too whether they pumped or not. You dont want to chase green candles, but you also want to be in the beat performing assets.

Dont be surprised that most of the top 10 altys this run will be far down in the next. Thats how the altys market is.

bradwilli:
I feel lost in all of this. I have lost so much this week and its my very first time. I sell immediately it dips. The app takes so much for their charge that i lose more.

What app is best to sell that gives me the right to set my charges myself?

Lets all learn and win together. Its why we are here

I'd advise you to move to binance where there's much liquidity moreso on the usd pairs.

Secondly, avoid market selling. That's your emotions toying with u

lovinhubby2wife:
What's the best time to trade Bitcoin ..

I bought Betc of about 300k and eith of 300k as well.. now the price as dropped to about 271k and 278k respectively.
I want to withdraw everything and start afresh with daily trade or should I just leave the money there and hope it appreciates on a long term basis. Because my mind is telling me this guy won't appreciate anytime soon enough above the 300,000naira rate I initially purchased both.

Experts in the house what would you suggest I do if you were in my shoe?

Is it better to just seel this off and bear my losses and start daily trading?
I've bee monitoring the volatility of ripple and I noticed it peaks between 2am to 7am and drops afterwards till the next morning where it peaks again.
I want to venture into this with this money and hope to earn from it on a daily

Hehehe....patience my brother is key.... If you can't trade the large coins successfully,

In this market, it's advisable to know what time frame of trading suits you... Day trader, swing, hybrid, longterm.
My advice for someone getting in new is to avoid day trading.
Before you day trade successfully, you have to know candle patterns, support and resistance zones, demand and supply zones, back up indicators, market sentiment and where we are in the market.

To answer your question, I'd say leave it

AbdulJabbar1:
On Lno, make the xcnge ur Home Screen by going to settings and clicking show exchange on Home Screen.

Then click buy on ur Home Screen, to avoid any charges, first identify the topmost order in green (that’s the buy order section) & the red (sell orders)

For illustration, let’s use eith let’s say highest buy order p is 656g, & lowest sell p is 659g, I would set my buy p at 657g so that my order is the current highest & gets filled quickly, it will post the order and fill it up, it would only stop filling if someone else counters ur order p, this is what I call chasing. I do this when the is a sudden spike & I want to cash in quickly. It’s too much to type and explain on here and I really don’t want to get this acct banned cuz then I’d be unable to respond. I’m out of accts to use to comment

Its simply cos Luno lacks liquidity

MyChoice1:
How do I learn how to cut my losses and move on? I'm stuck on link and dot. Eith and ltc were struggling so I dropped and bought link and dot, Right now I missed all the pump, quite sad. Add me to the WhatsApp pls. I sent you email

Hehehe... Patience is key...
Identify right projects at right levels.. get in and sit tight...
You keep jumping, you end up buying tops until you're left pants down at the end of the run

Einsteindude:
Hello bosses, how much can I use to start day trading and where can I get tutorials to enlighten me.

Hehe... Why are folks so focused on day trading?

What timeframe have you traded successfully first. If you've not been consistently successful on higher time frames then day trading is almost equivalent to gambling

Ryan03:
I wanted to download binance until I saw all the terrible feedbacks on google play store. It was scary hence I ran away

Why not give it a try and see. You can start with a smaller small.
Most times, it's folks with poor experiences that drop a review. They're one of the largest exchanges worldwide so they are definitely doing something right.
Their app is quite robust though can be technical.

BabaGrinz:
Oga ..nobody is forcing u to join ..if it's a scam to u..then leave it ..why r u bothered..or is it ur industry?

nazzyon:
Nope
This requires you to do download the app to mine the coin.
You're not paying anybody any money.
Nobody demands for money from you at any point in time.
It is just to build a community to mine the coin until Bee gets recognised and utilises fir trading.

I usually would not have replied you both but given we have alot of new folks here, I did. It's obvious you have no idea what mining means in this space.

For the new folks here, when you see anyone saying anything about joining a group to mine whatever, please delete such individual. You are 100% guaranteed to loose money in such schemes.
I rarely use 100% herr but on such, gour loss is certain cos they're all fraudulent

DenreleDave:
Pls explain this to me.. I want to learn how to sell and make gain......

I don't know how to go about it... Pls help sir

Cc: jedisco

Hmmm... I swear I don't know how to go about this...

The market now is dicey and you have to start from somewhere.
I'm still trying to finetune a personal profitable strategy.
It'd be easier to answer specific questions
For newbies, I'd say start with betece or eth...
Also, it's worth knowing what levels to buy and what levels to take profits.
Buying arbitrarily and hoping it'd go up will be profitable in a bull run but very likely to get slaughtered in a bear market.

I can share personal trades which I play but that's not a long term solution

DenreleDave:
Pls sir, reply my dm....

I want to learn some things, I don't know if I shud ask here and u explain fully or I shud do it via email..


Pls I beg u sir, kindly reply my mention °°

I am just a guy dt wants to understand how this things work so dt I can do too

I'd say it's better to ask questions here so we can share and challenge ideas and in tge process all learn.

Even the best traders are wrong upto 60% of tge time. Its how you manage your losses and maximize your gains that matter.

solreb:
Nice one. I ahve been following Links too as it has done a 3-day run. I am ready to go in at 19. I have made some money off DOT as well but BTC and ETH are my beau too due to their large swings on a dialy basis

I keep off daily trading as I don't have the time or skill to do it. On low timeframes, the market moves largely on liquidity and aims to leave most folks on the wrong side. Also, most folks who do it get chopped up in the long run. There's too much noise on 15 min -1hr charts. Taking a step back and looking at the big picture does help to plan trades as you know where the market is. When I'm sure the market is on an uptrend, I take profits on the way up and add on dips.

There's a lot of talk on DOT now (which concerns me) and I would be exiting soon at least for the time being. It's at these levels that whales start distributing their bags. It's gone x4.5 since my entry... I'm tracking some offerings with similar potentials.

For link, anything below 20 is a buy... It can go as low as 15 and still be a buy for me. From these levels, I'm targeting x2 at least.

I'm getting mixed signals on the market for the next week. Most alts are printing tremendously bullish weekly candles and if betece behaves over the next 2 weeks, it'd be a matter of not selling too early. That said, the general consensus is a huge pump in the next few days but this market rarely follows the majority except in the middle of a run. It always has a way if putting in a twist. But then, alts usually run only when there's euphoria in the market.

gamaliel9:
Are all these coins you mentioned found in Luno? Link,etc

Nope... Stopped trading on Luno, high fees, low liquidity, few options and no stable coin. Bundle seems to be adding offerings quite quickly but it's relatively new so may not be as secure as older ones.
I'd quote a previous response to a similar question

jedisco:
Examples I'd give are Lun0, B1nance, Bundle... They all have apps on the mobile app stores which are quite robust.

For a new entrants, I'd say Bundle is the easiest to use and payout to your bank account in naira is pretty fast. It works off B1nance in a way which gives added liquidity but makes the process pretty smooth. Also their fees are not soo high. B1nance is pretty much the most robust and liquid one there. Has a 'lite' mode as the trading features can get new folks confused. Its also the cheapest interms of trading fees. Lun0 has been available the longest in Nigeria but their fees are relatively the highest and the unavailability of a stable coyn (one priced against the dollar whose price doesn't fluctuate) there makes it less favourable. Also, there's much less liquidity there which can be tiring.

That said, it's not advisable to keep your coyns on exchanges for a long time. Exchanges are like a market place where people come to buy and sell. If keeping for long, it's advisable to get a secure private wallet (preferably hardware) where you can transfer coyns to after buying off exchanges and transfer them back when you need to sell. Most hardware wallets are about the size of a hard drive and can hold an almost infinite value of coyns in your pocket.

Tinneh:
Thanks for the insight and yes i bought in naira my only regret is i didnt buy in large quantity then

It's always that way with a good trade....

I'd say u bought using naira... You can buy in any currency but the price is independent of the currency you bought in as it's a worldwide traded asset.

Truth be said, alot of folks here are new as there's alot yo learn.

I'd quickly drop some tips

1. This market is unforgiving.
2. A huge drop in price (selloffs) are always more brutal than increase in price... A price increase of 2 months can easily be reversed in a day.
3. Nothing goes up in a straight line
4. The money made here is simply because of the confidence people have in the market that they can buy now and sell higher later.
5. Betece is almost certain to appreciate in price over the years.
6. People who buy when conditions are right and keep to sell at the right time are likely to make more than 90% of day or swing 'traders'. That's a statistical fact.
7. A bull run is very easy to trade and you can double your money in a short time but if you don't learn the basics of how the market moves, you'd loose almost everything. Ask those who survived 2018 in this market.
8. Most of what you need is freely available online. You just have to look in the right place
9. Buying and selling blindly because it has moved up or down is an easy way to loose money. Rather than do that, it's better you buy and forget it for a long time.

There's much to lear which I cant teach. But I'd share some resources I use

The app by investing.com I mentioned above helps me track prices easily. There are other ones too.
There are some interesting youtube cahnnels I follow which helps to give me a pulse of the market.
One is a channel called cryt0 crew university (forget the ads but it has easy tips for beginners). Another is one by Karoush AK which has some tutorials (rarely use it)
If you've got some data, go thru those channels and watch some videos which will teach u alot.
Later, I'd also share some twitter profiles I follow which give me a good pulse of the market. Overall, I make my trading decision myself.

akpa666:
am ready to trade like long term or even one year self

Good option I'd say. I'd call that a high time frame (HTF) trader.
This is a bullrun and it's come with lots of opportunities. It took years to cook.

Betece leads this market and typically, it gives 2-3 good buying opportunities every year. It's on these moves that most money is made or lost for a trader. If you're trading, you dont want to bet on the wrong direction. I'd say it's good to target these moves and with time you'd know how money moves in this market.

This past year was more of a bonanza as it gave about 3 good HTF moves. First was when it sold off to 4k, second was when it pulled back to 10k. The last was when it broke ATH at 20k. Looking back, these were all sweet opportunities to get in. I'm not sure about now and I'm very careful at these levels.

Anowax:
I pity newbies like me who read your writeups. You say a lot but you use a lot of jargons; "altys, Betties, pdot, ATH, 15 ish, 350 ish, sold at 20" Arh Arh!!! I have read all your comments but I tell you solemnly, I understand nada. Nothing!!! Please can you just kindly break it down a bit when next you're making an input. A lot of people are reading comments on here but it's useless if at the end of the day only a few understand you.

I appreciate your efforts regardless. Thanks

Hehehe... No vex.. didn't mean to confuse folks
The spambot picks up certain words or phrases automatically and hides posts thats why I use betece for instead of spelling it out. Notice a good number of posts are hidden and users automatically banned. That's nairaland for you.

ATH means all time high- look at my explanation for it above
Pdot is a coin just like you have betece and the rest.
Those numbers are prces in dollars. So when I say bought at 15 ish. I mean around 15 dollars.


Fact is if you want to trade this market, you'd have to learn some stuff. Alternatively, the other option would just be to buy and forget it for a long time and not bother about movement. The money made in it is simply based on the confidence in the market. It's not manufactured anywhere. When you buy, someone is selling. So you have to ask yourself if it's sensible to buy at that time.

A good place to start will be to download the crepto app by investing.vom on playstore. You'd easily see the price variations of different coins over time.

Tinneh:
I bought when it was around 150-200 (june-july)

I believe it's in naira right?

I usually follow prices in dollars as I usually trade into dollar coins..

You got in at a good time... And I'd say its worth waiting for 1-2 weeks and see what direction it takes...
It's approaching its previous all time high (i.e the highest price it has ever traded) which was about 1400 usd in 2017/2018.

The usual rational is that most folks who bought large sums when it was cheap will look to sell around there and so price may dump. If however it gets above that level, it simply means buyers likely have the upper hand. Also, most people who have not sold yet by that time would likely be looking for more profits so you can expect the price to move up quickly.

That's similar to what happened when betece broke it's previous ATH at 20k usd and doubled to 40k usd in a short period.

kings11ng:
In English please

Those are coins I bought recently and the prices at which I got them...

Tinneh:
Wow thanks man...would you still advise selling for now or hold on to

Depends on when you bought...
Given the market conditions, I'd advise to hold and see.

My strategy was to add on dips which I did on the last... I'm watching on how it plays with its ATH, once it breaks that convincingly, (1.4k usd) then it'd be a crime to sell for anything less than a 50% increase

Tinneh:
Guy whats the current price of etherum on luno
I lost my android phone so i havent been able to stay updated

It's abt 593k...

TheEnlightenedO:
Ethy has been pretty impressive in the past 16 months, I started with Ethy when it was just above 70k

Funny enough, it's outperformed bitece since the March crash and it has not yet started running.

luvlyoracle:
Which coin would you advice i get now on binance?

Seriously speaking, I'm not a fan of buying on a green week it seems we've began a major altys run and when they run, they run quick and well
Also if you're new here remember eithy and bitice are your best options in the long term.

For now, I'm waiting for the weekly close but a good number are really promising...

The most promising to me now is link... You can get in slowly... Any dip now is a buy for me.. I sold at 20, hoping for a dip to 15 ish but it doesn't look like it'd give that. In these conditions, once a good coin breaks ATH, 100% is easy as resistances become vague.

Another is lite... It's been quiet for a while.. From where it is now to 350 ish only seems like a matter of time

I'm tracking a good number who are also approaching ATH, my plan is to get in on a flip. I've rode pdot and riding aave for sweet profits... This is not advise, but my targets on altys are x3 once ATH is broken

But before you get in, you have to set your targets. How lonn are you willing to keep and how much profits you want. Cos it doesn't matter if it quadruples, if you're not disciplined, youd loose all.

akpa666:
please what coin can I buy with 10,000 naira

You can buy any stuff you want to buy for that amount provided it's upto the minimum limit