Is micro trading possible? | Bitcointalksearch.org

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

diffferent exchange sets diffferent minimum trade value, many set around 10k to 50k satoshi for btc markets
I'm not sure what's the minimum trade value for doge pair markets, shouldn't be much different
so with $20 doge you should have more than enough to trade in 2-3 doge markets

Quote from: Andrew1337 on August 19, 2018, 11:39:24 AM

For example if you put $10 in doge and you make 4-5$ profit and you want to withdraw them you have to pay fee for withdraw (5-10$).

why pay so high $5-10 withdraw fee? don't withdraw in btc!
he said he wants to try micro trading with doge, so he will use doge as his base crypto
and any exchange only require at max 5 doge per withdraw, that's less than 2 cents Tongue

audaciousbeing

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

Of course micro trading is still possible in some certain exchanges that won't give you the condition of minimum amount to trade just that you might be limited to the coins you will be able to purchase as the ones I have known of have the minimum multiples of coins. On the issue of verification, I doubt if you will have a way out of that at this time as any exchange sites that wouldn't even ask for that, I would be careful to deposit a cent there but the extent of verification differs across platforms as you have to choose the ones that you are more comfortable to disclose the amount of information they require.

raider150shifter

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Yes of course, but micro trading is perfect for those who are
new and still learning in crypto trading.

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Quote from: Ayush rana on August 20, 2018, 09:14:29 AM

Every exchange has different set of rules for trading, Like If you want to start trading on cryptopia than you must to have 50000 Satoshi kn your cryptopia balance than you can able to buy any crypto asset. i am not awared about other exchanges, They may provide service at low cost.

Thanks, I didn't know that, I googled it, and people say if a coin's value drops below 50 thou satoshi, that it cannot be traded. And that many have small amounts of coins stuck. However at the same time it is a reasonable amount as well. I'm Kind of scared of starting to trade lol.

The Sceptical Chymist

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I think you can trade with $20 worth of doge or so, but it's not clear whether you're trying to do it on an exchange or a gambling site. An exchange might have a minimum withdrawal amount, and they'll hit you with trading and withdrawal fees so it might not be worth it. In addition, you're never going to make any significant amount of money by trading with so little, and doge is one of those coins that's perpetually dead. Yes, it gets pumped occasionally but those pumps are few and far between.

If you're just trying to trade to get the hang of it, it's not a bad idea but I think $20 is too small an amount, and as I said, you're doing it with one of the most unattractive coins in existence.

krauzzer02

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Crypto dice is not a trading site it is more gambling rather than trading, for verification you should use exchanges like binance to trade and withdraw without the requirements of verification but it depends on your withdrawal capacity, as for the small trading it is not profitable if you have small capital as the withdrawal fee and the transactions fee will suck your money, start with a not so small capital if you want some progressive results.

bohr

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

If your purpose is to learn why not try paper trading? You look at the charts and you write at what price you bought then when you decide to sell you write that as well, then you can calculate your profits or losses, you can do this very easily with an excel spreadsheet, but if what you are looking is to make money then you need to rise the size of your capital to something that allows you to earn a living out of it.

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Quote from: Koadharber on August 19, 2018, 09:44:31 AM

Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

You do talk about trading but you do mention about crypto dice which is typically a gambling. Can you elaborate on which thing you are engage into? Trading or gambling? but since most of the time you do talk about micro trading then its possible for it to be done here on this crypto space and i dont know why you do able to hit up with a verification yet you do only engage on small amounts. Verifications do usually occur when you are already trading in big volumes.

I think OP wants to use micro trading for gambling purposes only by using the Doge token.
Sometimes verification do exist in some exchanges due to their own policy for AML which is under on their government banks in their country whether it is a big or small amounts. And for the micro trading, everyone can do it specially for those newbie in trading they can use it as a tool to learn the basics of trading without risking too much money from losing to a major trading.

torry28

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It's possible but if you are hoping to earn decent profit from that, it's almost impossible. If you want to earn big, you must have big balance too.

Quote from: earnadoge on August 20, 2018, 07:05:53 AM

Thank you all very much, I've read every comment and learned a lot, as well as got inspired. I'm going to research and try cryptopia and binance. I opened cryptopia for a minute, and see there are a ton of doge pairs. Thanks!

Lock this thread now

Ayush rana

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Every exchange has different set of rules for trading, Like If you want to start trading on cryptopia than you must to have 50000 Satoshi kn your cryptopia balance than you can able to buy any crypto asset. i am not awared about other exchanges, They may provide service at low cost.

earnadoge

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Thank you all very much, I've read every comment and learned a lot, as well as got inspired. I'm going to research and try cryptopia and binance. I opened cryptopia for a minute, and see there are a ton of doge pairs. Thanks!

izza123

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Micro trading is possible. I think this is the best way to trade for a beginner trader. This way of trading provides an opportunity to learn more information about the crypto currency market and gain experience for larger investments.

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

Micro trading is good for newbie, they need to learn market works and test strategy. With this strategy you can also know about risk in small value and how to fix it. Trading/ invest in many method is not easy but learn is important, with out that you're blind about market condition. Learn it and try to find your best style, never give up and trust no one.

hase0278

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

It is possible to trade micro trade and risk only 20$ if you are gonna use doge. I suggest you use exchanges like cryptopia to trade in doge to any altcoin pair. Also, it would be better for you to hold anything that you will trade long-term rather than short-term. You will profit more when you are micro trading long-term because of the chance of higher profit(especially in high-risk altcoins).

lavishlife

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It is possible in Binance Exchange, for small traders there
is no need for verification.

Jaycee99

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In my opinion this thing can help you to earn earn in which small amount of numbers or small amount of money. You just need to know the best move and time whn it comes on every ways how? Like this poster kryptnick...

One should learn from mistakes to keep on moving with how life gets on to you so a much better thing to say is that try expect failure along the way but you could do something is to learn and make a good outcome on it no matter how small or big it is, it still counts.

And reading is the best information we got here so read and learn

kryptqnick

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

During better times, I experimented with $10 worth of btc 'bankrolls' on different exchanges. I tried buying and selling small amounts of coins. While being interesting and possible, it didn't bring me any luck and I lost most of the money (well, it's still in coins, so maybe one day I could say I won it. Exchanges like bittrex and hitbtc have low trading fees, so trading doge could be perfectly easy there IMO. Yet other people might be right that withdrawal fees might be too high in comparison with a small amount of the invested money, which might make such experiments useless. And yet I really doubt that the fee for withdrawing doge will be significant anyway. You shoulkd explore policies of different exchanges and choose the most suitable one for you. Trading experience will be useful anyway.

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Quote from: earnadoge on August 18, 2018, 01:29:35 PM

I like crypto dice because of how little I can deposit, withdraw, how small the bet can be, no verification of any kind. I tried to trade micro but got immediately hit with verification, large min positions, and the need to register everywhere to see if I can use it, and in most cases I couldn', so I dropped it. Is it possible to micro trade? Total bank to risk 20$ in doge and trade with the intention of increasing the doge amount, not usd value.

It really depends on you whether it can work for you or not. But if you really want to have a lot of profit then you should try and practice the real trading.

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Quote from: Andrew1337 on August 19, 2018, 11:39:24 AM

I do not recommend micro transactions on exchanges with crypto because they have a big fee if you want to withdraw . For example if you put $10 in doge and you make 4-5$ profit and you want to withdraw them you have to pay fee for withdraw (5-10$).

Trading is not like other business we need to train our mental health for this type of business when you enter into trading there are lot of problems will be there for you in the beginning you cannot face the problem so many people did not continue in this but if you have confidence in trading then all type of fading will be very very easy for you.

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Quote from: Andrew1337 on August 19, 2018, 11:39:24 AM

I do not recommend micro transactions on exchanges with crypto because they have a big fee if you want to withdraw . For example if you put $10 in doge and you make 4-5$ profit and you want to withdraw them you have to pay fee for withdraw (5-10$).

You store your 20$ on this exchange and trade there as long as you dont want to transfer it to fiat (with 20$ investment risk of haking exchange is acceptable for everyone). While transfering it to fiat of through exchanges you only need to transform it to neo (neo transfers are free on most exchanges but you need to have more than 2 neo) or if you cant affort 2 neo than you can transfer it using LTC (LTC withdrawals are close to 10 cents) or ETC (not ETH - exchanges are boosting withdraval fees on coins that are beeing withdraw mostly) and manny other. The most expesive is USDT (even 50-100$) than ETH and BTC (5-20$) and rest are alswais less than 2$ and even close to 1 cent on some. Funny is that transfer ETH and ETH tokens should cost the same because network needs the same for transfer (tokens are even more expesinve to transfer due to more gas limit spent to compute) but withdrawing them from exchange is much cheaper.

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