Crypto Trading(ULTIMATE BEGINNERS GUIDE)
Hey Steemit,
The popularity of cryptocurrency is undeniable. People all over the world are buying, selling, and trading what is known as cryptocurrency.
I will go into 3 parts, buying, selling, and trading. I will break down each part as follows:
1. Buying
In order to trade your crypto you first need a wallet. Think of it like a digital wallet for your digital coins. One of the most popular wallets by a long shot, and a very easy one to use, is coinbase.com .... Coinbase recently climbed to the most popular app passing up Youtube. The beauty of coinbase is once you go through registration, all you have to do is put in a credit/debit card number and BOOM! ..... you are buying crypto. You will have the choice between 4 different crypt currency coins. Bitcoin(BTC), Litecoin(LTC), and Ethereum(ETC) And Bitcoin Cash(wouldnt recommend).
2. Selling
Selling on coinbase is a little different than buying in the sense that you will have to input bank account information to get USD back for your coin. Otherwise it sits in your USD wallet on coinbase. Other than that to sell your crypto you can do it on coinbase or move on to the next section to find an alternative method.
3. Trading
Trading currencies is a way that some people make short term profits. Sometimes trading is necessary to get a rare coin. Depending on the circumstances it will vary. I will teach you about Gdax.com The Global digital Exchange for the 3 main coins and Bitcoin cash. So basically go sign up at Gdax.com and get yourself verified. Gdax has different ways of trading. The most basic and quick way is the market exchange. You basically trade what coin you have at market price for the coin you choose at market price. You can also set whats called "Limit buy" and "Limit Sell" This is where it gets a little intermediate. You can basically tell the site you want to buy/sell your coin when it hits a certain value. So it can save you from losing money. Nice trading feature that comes standard with most business trading.
