How to Trade Cryptocurrencies

· June 13, 2019 · 6:23 am
cryptocurrency, cryptocurrencies

Cryptocurrencies need not much of an introduction as almost everyone has heard about it. Some may have a detailed idea about it as they must have dealt in it and others may have just heard about it. However, in the last few years, there is a big craze about cryptocurrency among many and with each passing day, the craze to deal in it is growing immensely. Now what matters is how to deal and when to enter the crypto market is a big question for many. In addition to that, there are many questions which remain unanswered while many enthusiastic and anxious people wish to enter into crypto trading. The fact is that everyone wishes to enter the slice of the crypto pie but how and when is the question? So, let us understand the basics of crypto trading and find out more details about trading bitcoin in minutes.

So, if you have the money to invest, the first and the foremost things which you need to do is to find out an exchange through which you can deal in the crypto. These exchanges are pretty important as they are your gateway to the crypto world and you need to make sure that the exchange is available in your area so please make a check of this.

Once you are done with this, you need to find out about the reputation of the exchange as it is important that you are with a reputed exchange where you can deal with crypto and you are happy with their services and your trades are secured. After this, you need to find out the exchange rates and thus always compare and research 3 to 4 crypto exchanges and their rates before you start trading. Last but not the least always count on the safety factor of the exchange as the exchange should do some id verification with you to ensure it is you and not anyone else who can trade/use your account. At the end of the day, it is your hard earned money and you would wish to safeguard it at all cost.

Once you have decided to go with the most popular and reliable crypto exchanges it is time to sign up and create an account with it. Signing up and creating an account is a simple process and you needed to set up a personal account with your relevant details (such as name, email, password, etc) and once the account is done you need to get to the verification part. In verification, you need to setup the security details where you might need to do phone verification in order to secure your account. Once done setup the payment method and then finally verify your identity. Once this is all done you are all set for the trading process.

Once your account is set up and verification is done you can check all the different cryptocurrency listed in the exchange and can buy the one which you think and observe is the most profitable and suitable as per you. As a beginner, you must trade into prominent coins like Bitcoin (BTC) and Ethereum (ETH) as per the current 2019 reference these are the two most prominent coins. You can do a detailed researched on different cryptocurrencies and accordingly make up your mind in dealing with the most prominent currencies to play safe.

 
Image by Csaba Nagy from Pixabay

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