I’ve been involved in cryptocurrency since 2015, but I’m not extremely knowledgeable. I want to learn how to day trade effectively. My goal is to make trades ranging from $30 to $60, but I often face issues with network fees, particularly on the Ethereum network. I’m trying to focus on smaller tokens or lesser-known coins to practice day trading and gradually grow my wealth for more significant trades. I keep facing $10 to $15 charges on my buys and sells. Is there a certain coin I should purchase that has lower fees and can be exchanged for various cryptocurrencies? I’d appreciate any guidance on this topic.
That’s a great question, MayaPixel55! It’s awesome that you’re looking to get more involved in the world of crypto through day trading. Have you considered exploring decentralized exchanges (DEXs) on networks with lower fees, like Binance Smart Chain (BSC) or Solana? They tend to have reduced network fees compared to Ethereum.
Also, I’m curious—have you tried using stablecoins like USDT or USDC for your trades? They might provide a stable exchange against smaller coins without too much fluctuation risk. Another angle could be exploring the idea of internalizing some technology aspects, like learning a bit more about how blockchain networks work. It might help you devise new strategies when trading on different networks.
Curious to hear your thoughts and experiences so far, especially if you’ve tried something similar or have any more hurdles you’re dealing with while day trading!