You need to know how to trade tatcoin. Tatcoin went live for full trading (buying and selling) on 13th July, 2020 on various popular cryptocurrency trading platforms.
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The token is currently open on ABiTtrader, iDEX and Bitfxt cryptocurrency exchange.
This is the first successful Africa’s very own utility token to gain an outstanding global attention and adoption.
Steps to trading (buying and selling) Tatcoin:
1. Open an account
To trade Tatcoin, you’ll first need a crypto trading account. It only takes a few steps to set up one and its totally free.
You will need to sign up a new account on the currently listed exchanges. You can get started by creating an ABiTrader account.
2. Build a trading plan
ABiTrader is a P2P market for Tatcoin, Bitcoin, Ethereum and Naira. At present, its only these four currencies that is available on the app.
You need a trading plan to trade tatcoin and make objective decisions via just buying and selling Tatcoin to Staking it for accuring interests or to move it to regular spot trading cryptocurrency exchanges like iDEX and Bitfxt.
Here are a few tips for creating a plan:
- Set out with what your goal for trading, written down into short and long-term goals.
- Unemotionally decide the type of risk you can cover from each trade, and also how much you are willing to risk overall.
- Pick a risk-reward ratio, this can help you to know the potential profit you need to justify your potential loss.
- Choose the markets you want to trade. Do you want to begin with just BTC/TAT, or try a few more?
3. Be Updated About the Recent News
Before you start trading, you need to make sure you’re updated with the latest tatcoin news, so that you will have a better knowledge on the next move for the price of the cryptocurrency.
When it comes to checking the behaviour and price movements of the coin, charts can be a valuable tool. Past data available on coin aggregator platforms can also help you know how the market is moving.
A good knowledge of Technical analysis via timeframes can help in providing a deeper insight into the coin’s emerging trends, patterns and movements.
4. Place a trade
You can now place agsinst trade on the cryptocurrency you have chosen for your trading. For example, you can choose to trade against BTC, NGN or ETH on iDEX or Bitfxt.
When you open an ABitrader account, you can easily, stake or buy and sell against the available currencies.
Read Also: Introducing ABiTrader App, an African-focused P2P Crypto Trading Mobile App For Buying and Selling Bitcoin in Africa
What Can Possibly Move Tatcoin’s price?
While the token is in its early stage of adoption across over 2 billion population of the African continent. The price volatility of the cryptocurrency makes it an attractive opportunity.
There is only 200 million tatcoin that will forever exist. Considering a wider adoption of at least 20 percent of the population in Africa, there is still a perceived opportunity for a good price over the long-term.
With many various industries that will see a wider adoption of the currency within Africa, the utility token can possibly gain a solid ground as a transactional currency within the continent.
Moreso, the token serves as a utility token for the parent company services, ranging from Travels, Real Estate, Agriculture, Gaming among others.
Any major future event could have serious implications for the token, including regulations, security breaches, adoption, macroeconomic setbacks and more.