If you have some idle money, you’ll be surprised to see what can be done with the money
Only with some money in the form of Bitcoin, you can start trading (buying and selling) digital currencies (cryptocurrencies) from now. You do not have to pay commissions on brokers, no need to pass a third party, and no longer need to worry about any barriers to start trading. All you need to have is just a little bit of Bitcoin. If you dare to sacrifice a few percent of your money, then invest in the world of digital currency.
What is a digital currency?
Digital currency (cryptocurrencies) is more than just digital numbers used by people as money. The technology behind Bitcoin as the world’s first digital currency is a decentralized ledger that can be accessed wherever and whenever by the public as long as they are connected in the internet network. This cryptographic technology called Blockchain is what makes Bitcoin, Litecoin, Triumcoin, Darkcoin and coin-coin alternatives other than Bitcoin known as “Cryptocurrency“.
Cryptocurrency is the real Wall Street
As a decentralized ledger, Blockchain can’t be controlled or manipulated by any party, institution or institution. The designs in the technology make all transactions work virtually and without fault, and not only can be used as a tool for transferring digital currency ownership, but also to transfer assets, stocks, contracts, commodities, and escrow services. This technology has the potential to change the future of the financial world, where markets can become more democratic and eliminate the ‘banksters’ (a term for dishonest people working in the banking industry).
If you’ve only heard a glimpse of Cryptocurrency, maybe these technical terms can make you confused
It is important for you to learn about cryptocurrency, but if you are only interested in using it as a trading and investment tool then you have enough basic knowledge of business, consumer demand, and standard economic laws to stand in positions that are or even higher than other traders (at least for now). Most traders today are people who have used cryptocurrency from the start, miners, programmers and people who understand more about technology than the business or marketplace. As they focus more on the crypto community and technological innovations that make this coin-coin even more popular, you can have a greater chance as you think beyond them.
Get your first Bitcoin to start trading
There are many markets (exchanges) that provide a place to buy and sell cryptocurrency with USD or other countries currencies, but you should buy Bitcoin first instead of another cryptocurrency. With some Bitcoin, you can easily trade it into another digital currency whenever you want through markets that serve Bitcoin’s sale with alternate coins (digital currencies other than Bitcoin). You need to remember that you do not have to buy Bitcoin in full (because the price is quite expensive, 1 Bitcoin is already $3846 at the time this article was written). You just buy some parts of it, otherwise known as Satoshi. For example, 500 thousand Satoshi is equal to 0.005 Bitcoin. One of the safest places to buy Bitcoin with USD is through coinbase.com, but there are many other places you can choose to buy Bitcoin at a cheaper price or in accordance with your country’s currency.
Once you have Bitcoin, it’s time to find a good market / exchange for your trading
The digital currency market I think is most reliable is bitconnect.co. Surely there are many other markets in the world-some good, some bad, and some even gone bankrupt, like Mt. Gox. Many people are reluctant to have cryptocurrency because of the bad news that affects these markets as suddenly bankrupt exchange cases, or coin-coin customers who are stolen and lost somewhere. Personally, however, I see it as a way for emerging markets to evolve with more mature preparations.
News is spreading very fast in the world of cryptocurrency, so keep an eye on it every day
Follow the news on Twitter to find out the latest developments because the companies and cryptocurrency markets are often discussed there. You can also read info on forums that specialize in cryptocurrency topics or follow related hash tags. Information and news can be your strength, and rumors can also be an opportunity for you!
Once you have Bitcoin in the exchange account, you can start trading
However, before you randomly select and observe other digital currency charts, I recommend you to at least do some research to avoid being ‘blind’ when trading. The best way to learn about each digital currency is to add the keyword ‘ann’ after the name of the coin. For example, write “Cannabiscoin ann” in the search box. The word ‘ann’ here means announcement or news / announcement. With these keywords, you can directly connect to the forums that are on bitcointalk.org and you can access a custom thread about the coin.
Such threads will show important information you need to know such as the total existing supply of coins, details of technical issues, development plans, vision and mission, community speculation, etc. Plus, you can also go back to Twitter because the site is not just a great place to look for news, but also to track all web pages and forums associated with the coin.
Fundamentals of Trading
In researching a market traders will usually refer to fundamental analysis. If you can search for the right information in a timely manner and understand exactly how the information relates to the market, it will be easier for you to predict market trends-especially to read whether the coin will rise or fall. In addition to fundamental analysis, you can also use technical analysis. Technical analysis is just as important, but it focuses more on how to read the chart and find the specific patterns in it-for example, when the price reaches a certain point, the coin will decrease in price.
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