HOW TO TRADE CRYPTOCURRENCIES - THE BASICS OF INVESTING IN DIGITAL CURRENCIES

July 2018 ยท 2 minute read

If you’re new to the concept and wondering what’s going on, here are some essential concepts and considerations for investment in cryptocurrencies.
What cryptocurrencies can be found and how do I purchase them?
With a market cap of roughly $278 billion, Bitcoin is the most recognized cryptocurrency. Ethereum is second with a market cap of over $74 billion. Besides both of these currencies, there are a range of different options as well, including Ripple ($28B), Litecoin ($17B), and MIOTA ($13B).
Being first to market, there are a lot of exchanges for Bitcoin exchange all over the world. BitStamp and Coinbase are two well-known US-based exchanges. Bitcoin.de is an established European market. If you’re thinking about trading other electronic currencies along with Bitcoin, then a crypto marketplace is the place you will find all the electronic monies in 1 place. Here’s a listing of exchanges depending on their 24-hour trade quantity.
What choices do I need to put away my money?
Another important consideration is storage of all the coins. 1 alternative, of course, is to store it on the exchange in which you buy them. But, you will need to be careful in selecting the exchange. The prevalence of digital currencies has resulted in many new, anonymous trades popping up anywhere. Just take some time to perform your due diligence so that you can avoid the scammers.
Another option you’ve got with cryptocurrencies is that you can store them yourself. Among the safest choices for keeping your investment is hardware wallets. Firms like Ledger allow you shop Bitcoins and several other digital currencies too.
What’s cryptocurrency trade like and how can I learn more about it?
The cryptocurrency market fluctuates a good deal. The volatile nature of the marketplace makes it more suited for a long-term play.
Apart from these sites, there are also many Twitter accounts that tweet about digital currencies, including @BitcoinRTs and @AltCoinCalendar.
Digital currencies aim to disrupt the traditional currency and commodity market. While these currencies still have a long way to go, the success of Bitcoins and Ethereum have shown that there is real interest in the concept. Understanding the fundamentals of cryptocurrency investment will help you begin in the right way.