Are you looking for fast and easy crypto trading strategies that you can implement today? Then you have come to the perfect place! We have prepared five trading strategies that require minimal effort on your side and are perfect if you’re short on time. Most of these will take just a couple of minutes to set up. We don’t want to beat around the bush, so roll up your sleeves and let’s get started!
The Top 5-Minute Crypto Trading Strategies
Most of the strategies you will see on our list are great for risk-averse traders who would rather earn passively. But we also included some that can quench the thirst of those with a big risk appetite. Market volatility can create many hurdles for traders, which is why we selected strategies that can help you minimise its effect.
Keep in mind you won’t see any range trading, swing trading or trend trading. These complex crypto trading strategies require a lot more than just five minutes to complete. With this in mind, let’s take a look:
HODL-ing Your Assets
Could there be a quicker strategy to implement? We highly doubt that. HODL-ing, or rather holding, entails purchasing crypto assets and holding onto them for a long time. From there, all you need to do is check in on your portfolio every few weeks to monitor the crypto market. HODL-ing requires that you arm yourself with patience, as there might be times when your assets drop a little in the red.
Remember your long-term goals, and ensure that you know how to battle your FOMO – this is the biggest challenge for this strategy. Typically, pairing with a crypto broker can be a great way to stay on top of your emotions, as they can answer your questions and ensure that you stick to your plan. We recommend the Immediate BitMasters platform if you want an affordable and reliable way to find crypto brokers.
Dollar Cost Averaging (DCA Strategy)
Next on our list of cryptocurrency trading strategies is the dollar cost averaging. Don’t be fooled by the name. It’s actually not as complicated as it sounds. The idea behind DCA is that instead of spending your entire budget on crypto assets, you divide that money into equal chunks and begin investing it gradually in regular intervals. That way, you battle short-term volatility when you first start trading. It only takes five minutes to draft up this strategy and get started!
Staking Your Crypto
With this cryptocurrency trading strategy, you’ll likely spend four out of the five minutes reading Terms and Conditions. Staking allows you to back a crypto project by buying a predetermined sum of crypto assets, which are then locked away for a preset time. In return, you receive dividends, a percentage of money every month (or six months, read your T&Cs) for staking your assets.
The catch here is that you won’t be able to access this money, making it kind of like hardcore HODL-ing. There is a chance that the project you backed goes bust or the price of the assets drops below what you expected. For this reason, staking can be a pretty risky strategy.
Mining Using a Phone
Mining Bitcoin certainly isn’t a 5-minute strategy, but mining with your phone is. Nowadays, there are many modern ways to get your hands on crypto, especially if you’re on a budget and can only spend a little bit of your money. We recommend that you check out the Pi cryptocurrency. All you need to do is download the Pi app, join the community, and log into the app once a day to tap a button. This button does all the mining. The Pi Network is all about getting new people to join, so if you invite your friends, you get a 25% boost on your earnings.
There are various crypto trading strategies like this one. For example, you can use COIN, another phone app that you can switch on during your commute. It uses your location services to main crypto tokens, which you can then convert into cryptocurrency or exchange for modern tech. It takes less than five minutes to set up, and it will get you earning pretty fast.
Implementing Trading Bots
If you’re good at coding, or you simply like to get into nitty-gritty software, you might also enjoy using a trading bot. Plenty of websites offer automated bots for trading, for example, eToro. Beginners can even browse templates and set up their bot in a matter of minutes. Despite that, trading bots require that you have some technical analysis skills.
Trading cryptocurrency with bots can be an excellent method of earning a passive income. However, it often means you need to adapt and shift according to market fluctuations. There are hundreds of Bitcoin trading strategies out there, but none can guarantee your success. You will need to spend a little extra time to figure it all out.
Fine Tuning Your Crypto Trading Strategies
Make sure to learn from your mistakes. Chances are, the first few times you implement crypto trading strategies, they might not work quite as you planned. Ensure that you record what you did wrong and try again later.
We recommend that you start by using demo software where you can. That way, you can save your budget for the times you feel confident with what you’re doing. Additionally, you can keep an eye on other professional traders and try to learn from their skills. There are many YouTubers and an entire Reddit community of traders that can help you make the most of your skills.
Final Thoughts
All in all, it’s entirely possible to use a 5-minute crypto trading strategy and make a profit. Just remember to pick something suitable for your skill level. In addition, make sure to adapt your strategy according to the shifting cryptocurrency market conditions. We have included several trading strategies that should fit various risk appetites, so there’s a little something for everyone here.
