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How to Start a Cryptocurrency Trading

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Avatar for chrishoffman
Written by   45
1 year ago

How to get it, how to do it, how to start and how much can I use to get started is the main question I get from people I invite or introduce to Cryptocurrency trading. How many people face difficulties and problems. This prompted me to write about the above topic i.e. How to Start Cryptocurrency Trading.

After telling about Cryptocurrency trading today and how I started trading and how much I earned during a bit of a shock, I made it clear that Cryptocurrency trading is not gender dependent. some may believe it.

Before I move on to how to get started with cryptocurrency trading, I would like to briefly explain what Trading and Cryptocurrency are all about.

Trade is the act or activity of buying and selling goods and services.

Crypto currency

A friend once asked me if I wanted to buy Cryptocurrency, which made me laugh because I have some understanding of the trade even though I understand what it is trying to convey.

Cryptocurrency is a type of digital currency that usually exists only electronically. There are no physical money or bills for a physical coin unless you use a service that allows you to receive cash in cryptocurrency. A cryptocurrency (or "crypto") is a digital currency that can be used to purchase goods and services, but uses an online ledger with strong cryptography to secure online transactions.

Cryptocurrency trading is the act of buying and selling basic coins through an exchange.

One of the main advantages of the crypto market is that you don't need a lot of startup capital to get started. A beginner trader will only need a thousand dollars to buy some digital currency, transfer it to the stock market and start speculating using the chosen strategy. Create a cryptocurrency brokerage account. If you don't already have cryptocurrency, you will need to create an account with a crypto brokerage.

Fund your account, this can be done first by creating a wallet you can guild online or by meeting people who are already trading.

Choose a crypto to invest in, it has to do with studying the market, finding the tradable coin and buying it while its price is still low.

  • Choose a strategy that includes a range of models for trading

Store your cryptocurrency It is important to consider the coin and know its growth rate, and you should consider keeping the purchase money for some time to grow.

Coins recommended for purchase from now on

After checking the market, there are some coins I can recommend to beginners to start trading;

Dogecoin (Doge)

Dogecoin is a cryptocurrency that started as a joke in 2013. A satirical homage to Bitcoin, designed to serve no real purpose other than to create a few laughter. It got its name from an internet meme centered around the image of a Shiba Inu dog with bad spelling habits - so "doge" instead of "dog".

Ethereum (ETH)

Ethereum is an open source, blockchain-based, decentralized software platform used for its own cryptocurrency, ether. It enables SmartContracts and Distributed Applications (IApps) to be created and run without any interruption, fraud, control or intervention from a third party.

Bitcoin Cash (BCH)

Bitcoin Cash is a cryptocurrency created in 2017 by splitting off the Bitcoin blockchain and is denoted by BCH. It is among the most traded crypto money values.

Restricting the transactions that can record blocks in the Bitcoin system to a certain limit causes the transactions to be slowed down. With Bitcoin Cash, this problem has been prevented and it is aimed to overcome the difficulties in sending and receiving money.

Although the problems experienced in the Bitcoin system have come to the fore many times, the lack of a center made such an innovation impossible. This system, which was initially established to prevent abuse, started to become a problem with the increasing popularity of Bitcoin and the increase in the number of users.

Litecoin (LTC)

Litecoin (LTC) is an alternative cryptocurrency created by Charles "Charlie" Lee in October 2011. Litecoin is a fork of Bitcoin (BTC). Like Bitcoin, Litecoin is based on an open source global payment network that is not controlled by any central authority.

Tron (TRX)

Tron Card. The Tron card is a secure digital wallet hosted on the Tron network. It can store several cryptocurrencies and tokens that are not specific to Tron. It is also a payment processor directly connected to the Tron Blockchain.

It is highly recommended because it is still low priced and has the potential to grow over time.

If you found my article useful, I am waiting for your likes and comments.

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Avatar for chrishoffman
Written by   45
1 year ago
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Comments

Your contribution is very good and thank you for recommending the safest and most attractive options for this moment.

$ 0.00
1 year ago

This is a very nice article, you have presented it well.

$ 0.00
1 year ago

Thanks. Please, I will like you to write an article on trading strategies. Which strategies do you recommend and how can one get trading signals to buy. I have been thinking of crypto trading but I don't know how to go about it. If you can write about strategies, I will love to read it.

$ 0.00
1 year ago

Thanks. Please, I will like you to write an article on trading strategies. Which strategies do you recommend and how can one get trading signals to buy. I have been thinking of crypto trading but I don't know how to go about it. If you can write about strategies, I will love to read it.

First of all, thank you for your comment. I will share an article about trading strategies as soon as possible.

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1 year ago