Learning on the crypto exchange 50x.com

50x.com (go online) is a cryptocurrency exchange for trading cryptoassets directly between participants. That is, the exchange provides technical opportunities for trading. It is not a counterparty to traders’ transactions. The actual responsibility of 50x.com is minimal: the correctness of transactions, time management, risk management and other organizational aspects are the responsibility of the user.

Therefore, training opportunities at the exchange are poorly implemented. Nevertheless, there is a small Youtube channel, which can be accessed via a link at the very bottom of the site, for example, on the page of the trading terminal.

But there is very little information on the channel and no training material on trading for beginners. The only useful thing is the information about cryptocurrency platformThe following are some of the most important features of the program, including the registration procedure and videos on the nuances of safety.

The platform has a “Handbook,” which is located in the “Menu” section in the header of the site. But it’s also not educational information, but information about the coins that are traded on the platform. It is useful, but only for experienced traders. There is no demo mode on the 50x.com platform, no place to learn how to trade, no place to practice strategies.

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Some questions can be answered in the Telegram channel “50x.com Tech Support”, the entrance to which is also placed in the basement of the site, but, of course, training is not engaged here. Thus, the training of cryptocurrency trading on this platform should be organized by the user. To do this, you can use exchanges, which are more aimed at beginners, have training programs, provide materials and demo terminals.

What is there to learn?

Without knowledge and trading skills, it is unrealistic to start trading on 50x.com. You may prefer another exchange, but this platform has some attractive advantages. No KYC procedures are required here, which provides a higher level of anonymity, quick transactions, very simple credit and lending terms. Therefore, if a user has decided to purposefully prepare for trading exactly on 50x.com, he should know the following:

What are cryptocurrencies?

In this context, we need to study the trading potential of cryptocurrencies, not the technical features of the blockchain. Need to know:

• How to choose coins for trading;
• what the crypto market is all about;
• what crypto market participants are like;
• How to choose a currency pair to trade;
• what is leveraged trading (margin trading).

Trading Basics

The 50x.com exchange has limited choices for making profits from crypto. The main one is classic trading. The trading terminal on the platform is standard, the same as on almost any other exchange. To work on it, you need to know:

• What is technical and fundamental analysis;
• how to interpret the price movement on the chart;
• how to apply graphical analysis tools;
• how to trade in accordance with the trader’s strategy;
• be able to set the right timeframe;
• Set and use indicators and oscillators on the chart.
• be able to create a strategy yourself.

Order Book

The backbone of crypto trading is the market stack (price stack, order book). It is available on almost every crypto exchange and allows you to assess the activity of traders on a particular coin, the ratio of buyers and sellers, to see the depth and dynamics of the market, to understand at what value to place an order. Accordingly, you should be able to read the order book before you start trading on 50x.com.

Technical skills

Trading requires a set of purely technical skills: the ability to choose a price, set limits (stop-loss, take-profit), place an order, choose leverage (if trading with borrowed funds), take into account the commissions that accompany almost all transactions on and off the exchange. Technical skills are not limited to actions in the terminal: one must be able to deposit funds from third-party payment systems, and after trading, one must be able to withdraw funds from the deposit.

Training

Any theoretical knowledge is first strengthened with trainings in the demo-mode on the cryptocurrency exchange, which provides such an opportunity. Also in the demo-mode new strategies are practiced and new assets are tested. But specifically for trading on 50x.com, apart from training, it is still better to have the experience of effective trading with real assets. This platform is a direct exchange, which is riskier than trading on centralized platforms. Plus, the platform presents very concise information on all of its products.

Cryptocurrency Lending

Lending is a relatively new method of making money from cryptocurrency. In fact, lending is lending to traders who trade with leverage and deduct a percentage of profits, and a cryptocurrency platform enforces the borrower’s obligations. Lending is seen as a type of passive income for the lender. But before lending on the 50x.com platform, you should study this method thoroughly and try earning this way on other exchanges, which provide more information and more options for lending.