When it comes to crypto, I love to invest in it. Going through different projects, learning what they're all about, thinking of their potential, and so forth. But one thing I never considered was crypto trading.
I actually invest in stocks which is another hobby/interest of mine, but that is in comparison to crypto much easier. If a company is public you can find out almost anything about them with enough research. You can look at their products, sales, and what they're developing next. You can also significantly reduce your risk by buying into ETF's or blue chip dividend companies. So compared to crypto, stock trading is much more tame.
Wild swings in crypto are not uncommon, if anything it's almost standard. Crypto companies aren't public and therefore don't have to disclose any information to the public. Sometimes there's a lot of hype and not enough information about the project. This means you really have to be careful and check everything before investing.
And for these reasons I have shunned crypto trading until now. It's hard to make predictions when anything can happen at any moment, and then there's the stress that comes with it too. The risk reward ratio is high, but it's a little too risky for me. I'm more of the buy and hold type.
That changed when I discovered Stormgain
What is Stormgain?
Stormgain is a cryptocurrency trading platform, that can be accessed from a computer or through their app. According to their website their mission is to make crypto trading more profitable in both falling and rising markets, and take advantage of volatility.
They provide lots of videos to help guide and educate you, and you can try trading through a demo account first. They also have "signals" which is a form of AI trading that recommends you whether to buy or short a specific crypto pair and suggests how much to invest, a stop loss, and when to take profit. You can also use a multiplier to increase your profits.
I know what you're probably thinking by now.
I thought you said you didn't trade crypto?!
What got me started with Stormgain was their Bitcoin miner in the app. I kept seeing their ads about it and one day I decided to try it out. Usually I'm very skeptical about these things, but to my surprise it's actually a very decent miner!
You mine Bitcoin with the miner, and when you reach the minimum payout, you can withdraw and then it is automatically converted to USDT. Stormgain says you can earn 17.13 USDT a month with it, but I don't know how exactly they calculate this, as you have to turn it on every 4 hours. It also depends on price fluctuations from Bitcoin of course, and best of all, it does not use up your CPU or battery!
You can't withdraw your profits straight from the miner, but you're free to trade with it. All the profits you make from trading you can withdraw whenever you want! This basically turns the miner into a free faucet for cryptocurrency trading. There's no risk and if you're succesful you could actually make some real money with it!
I would highly recommend you to go through the apps extensive list of educational videos! I know it's a bit boring, but it really helps! It's also a good idea to switch to the demo account and doing a couple test trades before trying to do the real deal!
So let's say you've been using the miner for a while and you're ready to withdraw and start trading, where do you begin?
I'll show you an example below of how I use the app, but of course there are many different strategies. I prefer to use the app for trading, because everything is much more user friendly and easier to use.
When you open the app click on the futures tab at the bottom of the screen.
You'll see a lot of trading pairs with some of them having signals to buy or sell under them. I'm going to click on one with a signal.
So in this example the app is giving me a signal with a strong sell. A strong buy or sell will increase your chances of making a profit.
Click on the signal button, to see your chances.
According to the app, with this signal I have a 75.82% chance of making a profit, and I'll make a maximum 17.63% profit on the amount I invest.
Once you apply the signal, you'll see the recommended stop loss, when to take profit, and a multiplier. You can change all of these and tweak them, but I would just accept them as they are until you're more experienced.
(If you're not familliar with what stop loss and take profit mean, these are just automatic triggers. So for example the app takes profit or closes your trade, when it hits a certain price.)
Once you place your trade, you'll be taken to the trade tab, where you can follow it.
You can let the trade run its course, until it either hits the price target or stop loss, or close the trade when you want. Just remember that even though you're using the signal, you could still lose the investment!
It's best to split up your USDT over a few trades, and minimize the risk.
So now you're probably wondering, how did I do?
As you can see some trades worked out great, while others not so much, but I still had a net gain of about 30 USDT! And to be honest I was just making random trades, and playing around with the settings to test it out, but I still made a profit in the end.
Fees and Limits
Almost every exchange charges trading fees, what about Stormgain?
- There is a 0.04% commission on trades.
- A fixed withdrawal fee with an additional 0.1% fee.
In our case we would be trading the USDT from the miner. The minimum withdrawal for USDT is 50, and the fixed fee is 5.
The minimum withdrawal and the fixed withdrawal fee change per currency, and you can check the full list for al fees here.
Ease of use
For the most part the Stormgain trading platform is modern, intuitive, and easy to use, although it can be a bit intimidating at first.
Their signup process is one of the quickest I have ever seen! Surprisingly Stormgain doesn't require KYC as of yet. All you have to do is create an account and verify your email and phone number.
Although you can use both a computer or phone to trade, the mobile app is much more developed than their desktop version.
Stormgain also has a tiered loyalty and rewards program, but to upgrade to the next level, you have to trade at least a 150.000 USD! Which is insanely high for most people!
Besides trading you could use the app to exchange crypto, use it as a wallet, and also buy crypto.
The company puts a lot of effort in helping people get started with trading, by providing educational videos and even a miner to help people begin with as little risk as possible. It's always a good sign when a company puts this much care in helping their customers!
For someone like me who is not used to crypto trading, this is the perfect way to try it out. At first it can take a little while to get used to the platform, but it didn't take too long for me to figure it out.
The build in miner won't make you rich, but you never know how good you might be at trading!
If you'd like to give it a try please consider using my link here.
Thanks for reading and I hope this article has been useful to you!