Trading cryptocurrency is a NO-JOKE and one should have the prior knowledge to understand how everything works.
You must be a beginner if you’re searching for the query “How to trade cryptocurrency.” And guess what? You’ve just landed in the right place.
ICO Speaks has great knowledge and experience in the Crypto field and that’s why we are helping people grow in the “Crypto Field” as well.
Our ultimate goal is to make sure “Everyone is educated” without charging them. This is why we are helping our readers with “Crypto Education.”
In this article, we will be covering almost everything regarding trading cryptocurrency and enlighten you about the basics and core concepts.
Let’s rock and roll!
Explaining the basics
The first thing that every newbie should learn is “What exactly is cryptocurrency?”
Basically, cryptocurrency is a digital currency that nowadays is being used to send/receive money, buy goods, and do other stuff online.
You must be wondering about “How this currency is different from the regular currency then?” The key difference is “Cryptocurrency is encrypted and that means no one can hack or track the transactional data.”
Cryptocurrency is 100% safe and possibly the future of “Buying and Selling” everything.
In many states, cryptocurrency is referred to by different names such as “Digital Currency, Cyber Currency, and Virtual Currency.”
Cryptocurrency works almost opposite to the money that is provided to you by your local government. It has no records, you don’t have to pay taxes and there’s no fear of being tracked or hacked.
In many parts of the world, cryptocurrency is legal, but there are a few countries that aren’t allowing crypto to roll there.
How does everything work?
Understanding the working method of cryptocurrency is important as anything because you can’t trade cryptocurrency without knowing it.
Almost all the currencies in the world right now work on a single concept known as “Blockchain.” In short* all your transactions are transferred in the form of blocks and then encrypted later. This makes the transaction super secure and untraceable.
There are three types of coins rolling these days in the market:
- Utility Coins: These are the coins when you use them you’ll get a reward in return. Yes, you’ve heard it right. If you’re making any transaction through an application known as Binance, you’ll be given a discount or something in return.
- Stable Coins: When you trade with the stable coins or keep them in your account, you don’t have to worry about volatility. Yes, most of the crypto lovers do not love to invest in the crypto world because of the volatility. If you’re a newbie, you can invest in the stable coins because they are the best.
- Privacy Coins: You must have understood everything by the name because it is for those who don’t want to reveal their identity and transactions. If you want to have no transactional record and work in the field anonymously, then privacy coins are for you.
So, are you interested in any types of coins listed above? Do let us know in the comment section. If you want to learn more about trading, you can contact us by Click Here. We will help you with setting up everything.
Before we talk about other things and pack up things, let’s list down the names of different currencies that one can invest in and trade them.
- Bitcoin Cash
- Binance Coin
- Bitcoin SV
Every newbie should have knowledge about the best cryptocurrencies that are dominating the crypto world and that’s why we have written them all together.
Let’s talk about more things happening in the crypto world.
How to trade cryptocurrency for profit
Trading cryptocurrency means “you’ll have to prepare for the losses and profits.” You can’t guarantee a profit in trading whether it’s crypto or stock exchange.
But, there are different ways to follow that can help you set up on the right track. Let’s talk about the way that can lead you towards success.
- Volatility: As discussed earlier, the crypto world is more volatile than the regular trading world. This means there are greater chances of profits and losses. There are always fluctuations going on and that’s why you can’t predict the upcoming results. It’s always better to think wisely before you put in your investment in the crypto world. If you’ve got the experience and knowledge, you’ll rock it.
- Trading Time: Choosing the best trading time for your cryptocurrency trading has a great impact on your profits. Most of the professionals rely on trading time to earn profits. All you’ve to do is to look for the best trading time for your “Cryptocurrency” and then start working. You can get the help ICO Speaks by clicking here.
There are many other things to consider such as:
- Trading opportunities
- Following the best in the business trader
- How liquid form of the cryptocurrency works
If you know how to deal with such things, there’s no one stopping you. Before we wrap up things, we would like to discuss “how to trade cryptocurrency without fees.”
Here we go!
How to trade cryptocurrency without fees
When the cryptocurrency started to roll, there were no ways of trading the cryptocurrency without any fee. But nowadays, this is possible through an application known as “Robinhood” where one can easily trade the cryptocurrency without any fee.
But, you’ll have to follow the steps that we are breaking right now.
- Get yourself registered with the coinbase pro and then deposit a few dollars there
- Buy the cryptocurrency of your choice such as (Ethereum, Litecoin, BTC, or any other)
- Now, once you buy the coins, it’s time to transfer the coins to the Robinhood application where one can trade cryptocurrency
- After transferring the coin, you can trade the coin for absolutely free
This is how you can trade cryptocurrency for free and they won’t charge you for anything.
So, that’s all from the topic “How to trade cryptocurrency” and if you’ve any questions in mind that are pinching you, you’re all set to ask us.