Cryptocurrency to Buy and Sell: a Beginner Guide
The cryptocurrency industry is rapidly developing, inspiring more and more new users to join it. Actually, digital coins are used for the same purpose as conventional money. That is, you can buy goods and services, book an apartment, fill the car at the gas station, etc., using crypto assets. Today the range of goods and services accepting digital money is increasing.
Crypto is not only a settlement option but also a trading tool. Look at live crypto prices in charts and rankings, and you will see that they are constantly changing. Unlike traditional money, regulated and issued by states and banks, digital money is not depending on banks’ decisions. What makes an impact on crypto rates is the market trend – the balance between supply and demand.
High volatility allows for making income from price fluctuations, which crypto traders actively use. Here are some popular strategies for crypto trading:
- Daily trading
- Position trading
They differ by the length of the period between a trader buying crypto assets and selling them as well as by the number of opened deals simultaneously.
A Guide on How to buy cryptocurrencies for a Beginner
First, pick an exchange. There are centralised and decentralised crypto platforms. Traders actively use both. However, decentralised exchanges offer a limited number of trading features and may seem somewhat difficult to understand. We recommend using centralised platforms, for they provide crypto prices live, crypto charts, fair fees, a convenient, reliable, transparent interface, and allow users to enter the market with fiat money.
Here are steps for making your first crypto purchase:
- Register in an exchange
- Verify your account
- Add your bank card
- Move money from your card to account
- Place an order for buying digital assets with fiat.
Once you pay the fee, you receive coins in your account. Next, you can try to trade it with other crypto coins or withdraw to the bank card when needed. If you wish to practice trading, welcome to the WhiteBIT crypto platform’s demo trading.