KuCoin And ETH / USDT
Many different types of investors can use KuCoin. Starting your cryptocurrency journey here is always simple, regardless of your level of trading experience. The six million members of KuCoin, a worldwide cryptocurrency exchange founded in 2017, have access to a range of trading options. These include peer-to-peer trading, loans, staking, futures, spot, and margin. KuCoin claims to offer a range of about 400 coins and the highest level of security. It is a beginner-friendly exchange with a stylish and straightforward interface despite its range of functions. Also, the business has some of the lowest costs in the cryptocurrency sector.
ETH Ethereum (ETH), one of the most well-known cryptocurrencies, and Tether (USDT), a stablecoin tied to the US dollar, are combined in the trading pair known as USDT.
The Ethereum blockchain, a decentralized platform for creating decentralized applications (apps) and smart contracts, has ETH as its native coin. The USDT stablecoin, on the other hand, is backed by genuine US dollar reserves and aspires to maintain a 1:1 ratio with the US dollar. This article will help you. How to maximize your profits when trading ETH USDT on KuCoin
How To Trade ETH / USDT For Maximum Profit
Step 1: Open KuCoin.com and select the Trade option before selecting Spot Trading
Step 2: Find the trading pair you want to use. KuCoin provides several markets, including ETH/USDT.
Step 3: Enter your six-digit trading password to begin placing an order. For security purposes, you will be prompted for the trade password once every two hours.
Step 4: After selecting the order type and entering the necessary information, such as the price and quantity, click the Buy or Sell button.
Step 5: The Order can be accessed in the Open Orders section once placed. The Order will be added to the Order History and Trade History sections once filled.
Moreover, a crypto trading bot is another worthwhile option for traders which will help in making informed and correct decisions.
There are some different orders that traders should keep in mind to maximize their profit
Understanding Different Trade Orders
1. Limit Order
Definition
An order to purchase or sell at a specific price is known as a limit order.
Example
You can put a Limit Order if the market price for Ethereum is currently 0.9628 USDT and you want to purchase Ethereum when the price falls to 0.95 USDT.
Instructions
Input 0.95 USDT in the price box and 100 ETH in the amount box after choosing Limit Order. To place the Order, click Buy ETH.
2. Market Order
Definition
A market order is placed to purchase or sell at the best price currently offered.
Example
You can place a market order if the price of ETH is currently 0.96263 USDT and you want to acquire 1,000 USDT worth of ETH immediately.
Instructions
To place the purchase, choose Market Order, type 1000 USDT in the amount box, and then click Buy ETH. Usually, the Order will be filled in a matter of seconds.
3. Stop Limit Order
Definition
An order to purchase or sell at a limit price when the price hits the specified trigger price is known as a stop limit order.
Example
You can sell when the price reaches 1.065 USDT if you believe the stop price will reach 1.0666 USDT and will not rise after it breaks through at the current market price of ETH, which is 0.9629 USDT. Instructions:
Click Sell to place the Order, choose to Stop Limit Order, enter 1.0666 USDT as the stop price, 1.065 USDT as the price, and 100 ETH as the amount. The Order will be activated when the most recent price exceeds 1.0666 USDT, and 100 ETH will be ordered at a price of 1.065 USDT.
4. Stop Market Order
Definition
When the price reaches the set trigger price, a stop market order is created to purchase or sell at the current price.
Example
When the price reaches the set trigger price, a stop market order is created to purchase or sell at the current price.
Instructions
Choose Stop Market Order, enter 10 ETH as the amount and 1.0666 USDT as the stop price, and then click Sell ETH to submit the Order. This is When the Order will go into effect when the most recent price reaches 1.0666 USDT, at which point the 100 ETH order will be made at the lowest price possible.
