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Trading cryptocurrency for beginners

01/18/2019
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For those who are just about to generate income on the market for digital financial assets, the traditional bitcoin trading strategy may seem too complicated. Therefore, for a start, it is better for them to learn simple trading options with this instrument.

Where to start trading

If you delve into the theory of buying and selling cryptocurrency, you can get lost in the flow of information. Therefore, beginners need a step by step plan of action. It usually starts with goal setting.

For medium and short-term acquisitions, working with financial instruments, the price of which is pegged to the cryptocurrency is best suited. Such a cryptocurrency trading for beginners will be much easier and safer. If the buyer expects to make a long-term investment for several years, then it is better for him to aim at acquiring Bitcoin or another cryptocurrency through an electronic wallet.

Purchase of a financial contract

At its core, trading in ethereum, ripple or bitcoin is no different from working with a pair of EUR / USD, gold or oil. First, you need to open an account with a crypto broker. Then download the terminal and make a purchase.

Taking into account the fact that trading on the stock exchange cryptocurrency for dummies is quite a common phenomenon, financial companies conduct training programs. Here they tell their clients how to perform operations and avoid mistakes. Moreover, crypto brokers provide customers with a demo account. They allow real-time testing of exchange activities.

Buying cryptocurrency in the "wallet"

The procedure for acquiring “physical” cryptocurrencies looks a bit more complicated. It is difficult to say so about an asset that exists only in the virtual space, but that is exactly what it is. So, for the acquisition of Bitcoin are needed:

  • wallet;
  • seller of the asset;
  • intermediary.

The first stage is a visit to the electronic exchanger. Here you can change fiat money to electronic. Most cryptoexchanges work exclusively with cryptocurrency, so it is impossible to deposit rubles or dollars on them, and immediately make an exchange operation.

If at the disposal of the exchanger there is a necessary asset, then this procedure can be considered complete. The service itself will provide a digital wallet, where the required amount will be transferred. If an investor wants to actively change one coin for another, then he will have to turn to a cryptoexchange.

Here there is a trade on the order book, in which the cryptocurrency is the main asset. The order book of prices will show how many buyers and sellers are in the market, at what price they are ready to make a deal. In fact, it is very convenient. After all, you can buy an asset even cheaper than it is sold at the moment.

What is better to choose for a newcomer to the cryptomarket

Immediately it should be said that no one can unambiguously answer the question “What is more profitable”. Of course, operations with a financial instrument are less costly. Moreover, the amount of deductions increases with the volume of purchases.

However, the acquisition of coins in the wallet will also not be unprofitable. It is worth paying attention to one thing. Since the operations take place in the blockchain, the commission does not depend on the volume. The same amount will have to be paid for a transfer of 0.01 BTC, and for 1000 BTC.

At the moment, the book for dummies calls the cryptocurrency trade a difficult task. But in the near future, the situation may change drastically. The information and financial revolution is clearly brewing in the world. And then the purchase of digital assets will be easier than the usual operations with a bank card. But if you prepare for this in advance, then there is a chance to be ahead of progress.

Are you ready to start?
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LH-CRYPTO is an online service for crypto-traders

LH-CRYPTO is an online service for crypto-traders. The service is available to everyone, except for the citizens of particular countries and several categories of people listed in the License Agreement. LH-CRYPTO is a free software for making conversion operations with CFDs on various financial assets nominated in cryptocurrencies.

The project does not manage funds and does not guarantee profits. The project only offers a service that allows to make conversion operations with cryptocurrencies on a specially configured software.

This website is maintained and supported by the following legal body:

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All the settlements in this project are processed solely in cryptocurrencies. Conversion operations are processed on the terms of margin trading without a direct supply of underlying assets. According to the generally accepted term, these operations are called operations with OTC (over the counter) CFDs (contracts for difference).

Trading with OTC CFDs involves considerable risks. We recommend you pay the utmost attention to both theory and practice of margin trading before making any of such operations.

The services provided by this project are not available for: residents of USA, North Korea, Sudan and Syria.

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