The entire process for beginning cryptocurrency trading is much simpler, but we have some important points to understand. Here we will discuss about them in a simple way:
1) Sign up for any Exchange Coinbase / Bitfinex / Binance etc
a) Fee for exchanges - Ensure that the fee charged on exchanges are minimal (Admin charges)
b) Fee on Trade - Check for the fee incurred on each trading transaction (Buy / Sell)
c) Deposit & Withdrawals - For getting your money into the exchange and making it out from exchanges every-time (Debit / Credit)
d) Security - Exchange should be providing higher level of safety for the money we transact in their exchange
e) Platform - Platform should be reliable and user-friendly for making the transactions fulfilled easily
2) Fund your account with sufficient amounts that exchanges demand as initial deposit
3) Buy your favorite cryptocurrency by exchanging the amount you have deposited into the platform (USD Vs Cryptocurrency)
4) Hold them until the prices are profitable and sell them for USD (Cryptocurrency Vs USD)
5) It is not necessary to buy 1BTC or 2BTC to trade Bitcoins. You can even buy Bitcoins for $10 or $20 to complete your trade
6) You can start as little as $1 to trade cryptocurrency. Buy fraction of coins and make little profits
7) Cryptocurrency is volatile and ensure that you keep an eye on the value of the invested cryptocurrency regularly
8) Once you feel comfortable then you can start trading for higher values. There is no maximum limitations to trade cryptocurrencies
9) Higher leverages can be utilized with cryptocurrencies. Leverage up to 20:1 can be made use of while trading cryptos. Your profit margin gets increased by the use of leverages. If you use 10 times the leverage then your profit increases 10 times. The other side is also highly possible. You can even taste the downside with 10 times the lose of your investment.
10) You can be a short term or long term trader based on your character. If you can book your profits within a day then you can be a short term trader. If you want to hold your cryptocurrency for a while and then to book lump sum money as your profit then you can go long.
1) Sign up for any Exchange Coinbase / Bitfinex / Binance etc
a) Fee for exchanges - Ensure that the fee charged on exchanges are minimal (Admin charges)
b) Fee on Trade - Check for the fee incurred on each trading transaction (Buy / Sell)
c) Deposit & Withdrawals - For getting your money into the exchange and making it out from exchanges every-time (Debit / Credit)
d) Security - Exchange should be providing higher level of safety for the money we transact in their exchange
e) Platform - Platform should be reliable and user-friendly for making the transactions fulfilled easily
2) Fund your account with sufficient amounts that exchanges demand as initial deposit
3) Buy your favorite cryptocurrency by exchanging the amount you have deposited into the platform (USD Vs Cryptocurrency)
4) Hold them until the prices are profitable and sell them for USD (Cryptocurrency Vs USD)
5) It is not necessary to buy 1BTC or 2BTC to trade Bitcoins. You can even buy Bitcoins for $10 or $20 to complete your trade
6) You can start as little as $1 to trade cryptocurrency. Buy fraction of coins and make little profits
7) Cryptocurrency is volatile and ensure that you keep an eye on the value of the invested cryptocurrency regularly
8) Once you feel comfortable then you can start trading for higher values. There is no maximum limitations to trade cryptocurrencies
9) Higher leverages can be utilized with cryptocurrencies. Leverage up to 20:1 can be made use of while trading cryptos. Your profit margin gets increased by the use of leverages. If you use 10 times the leverage then your profit increases 10 times. The other side is also highly possible. You can even taste the downside with 10 times the lose of your investment.
10) You can be a short term or long term trader based on your character. If you can book your profits within a day then you can be a short term trader. If you want to hold your cryptocurrency for a while and then to book lump sum money as your profit then you can go long.
