What is crypto currency trading?

lorenzokenny (32)in Steem Entrepreneurs • 2 years ago

Internet offers us a lot of possibilities to work online, and with the emergence of blockchain, the list of possible sources of income has increased. The biggest part of remote earning comes from cryptocurrency trading.

Cryptocurrency trading is the act of speculating on cryptocurrency price movements via an exchange trading account, or buying and selling the underlying coins via a crypto broker.

Virtual money or cryptocurrency is in high demand for traders who are ready to invest money to get profit.

Cryptocurrency trading is one of the main sources of getting profit from cryptocurrency. This type of online trading is almost the same as stocks, currencies, or commodities trading. The main task is to buy when the price is low and to sell when it is higher (or vice versa, when you open the short position).

The biggest difference between this type of trading and other ones is the high volatility. A lot of traders, especially newcomers, want to get thousands of percent as a profit, and with Forex trading, for example, you need to wait for years to get such sums, and crypto can offer you a higher speed of getting profits.

And where do you need to start?

First, you need to know that it is impossible to start successful crypto trading with zero experience. If you want to invest in virtual coins, you will need to get the basic knowledge. You need to learn the following moments:

to analyze crypto coins;

to use charts and quotations;

to open deals on crypto exchanges.

I think that the most important moment is the first one.

So what do you need to know to analyze the coin?

You need to know the idea of this coin and how popular it is. In the beginning, I won’t recommend you to work with unknown coins, so in our stage 3 class i would be showing you how to choose a profitable coin.

Cryptocurrency trading offers high opportunities for getting income. The good news is that you can start trading with minimal investments but to get a profit you need to learn a lot and test every strategy.