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.
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.
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.
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:
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.
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.