Cryptocurrency Trading – Beginner’s Guide

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.

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.

• Select your Cryptocurrency

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.