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Cryptocurrency Trading – Beginner’s Guide

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Cryptocurrency trading for beginners

Some still wonder why everyone wants to be in the crypto sector. This is because cryptocurrency is the future we all have been waiting for!
Owning a cryptocurrency sounds excellent, but handling and trading it in the right way can be challenging – particularly for a beginner.
Before guiding crypto trading, it is essential to know that it is a highly volatile asset.

Crypto Trading – What’s it about?

Crypto trading is the act of selling and buying cryptocurrency via a crypto trading exchange or platform. Some of the most used crypto exchange platforms are Binance, Coinbase, etc. 

The concept behind cryptocurrency trading is in two ways;

  1. To make profits
  2. To accumulate Bitcoin

Cryptocurrency trading steps for beginners 

There are many approaches to trading cryptocurrencies; however, we have for you the crucial steps that will guide your trading journey as a beginner.

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Choose the best Cryptocurrency Exchange

As a beginner, you must know that most crypto exchange platforms have similar-looking market pages. However, these are some of the best and most popular cryptocurrency exchanges.

  • Binance 
  • Coinbase 
  • CoinDCX
  • Kraken
  • Gemini and many more

Fund your Account

You can fund or add money to your digital wallet using wire transfers or debit cards.

There are many cryptocurrencies out there. However, as a beginner, go for the predictable ones like Bitcoin and Ethereum.

  • Start Trading – Choose a Strategy

You can either:

  • Trade crypto to crypto – Bitcoin to Ethereum, or Ethereum to Litecoin

or

  • Trade dollars to crypto – US dollars to Bitcoin, or Litecoin to US dollars

Store your Cryptocurrency

Choose a cryptocurrency digital wallet – either software or hardware, although hardware wallets offer better security. 

Conclusion

Experts advise first-timers to learn about cryptocurrency, exchange platforms, security risks involved, and all the basic terminologies related to cryptocurrency trading beginning to trade.

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