If you are new to cryptocurrency, a lot of things may seem complicated to you. Let’s find out in this article!
What’s crypto?
Cryptocurrency is a digital currency that has no physical representation and is protected by cryptography. Crypto assets work on blockchains that consist of chains of blocks with information about transactions. Entries cannot be modified, only new ones can be added.
Where to buy it?
The easiest way to do so is to buy cryptocurrencies on a centralized exchange. You should choose large platforms with a good reputation. These include WhiteBIT, the largest European cryptocurrency exchange with more than 3.5 million users worldwide.
The platform has more than 350 trading pairs, many trading tools, and a lot of ways to profit from crypto. The exchange offers a few ways of trading cryptocurrency: spot, professional, margin, and futures trading.
How to trade crypto?
Cryptocurrency opens up a lot of great opportunities for making a profit. The most popular one is cryptocurrency trading: opening positions to buy or sell cryptocurrencies in order to profit from price difference. There is no crypto convert calculator that can tell you how the price will change.
The mechanism seems quite simple, but in fact, it is quite difficult to determine exactly when and how drastically the price of an asset will change. Crypto trading can be difficult without studying and applying fundamental and technical market analysis:
• fundamental analysis is the assessment of all aspects of the market, including domestic and global factors, economic and political conditions;
• technical analysis is the process of studying the trend of an asset based on historical price movements, models, and price charts.
Cryptocurrency exchange WhiteBIT offers free Demo Tokens, which are perfect for beginners. With these demo versions of BTC (DBTC) and USDT (DUSDT) users can try trading or testing their own strategies.
With the right approach, crypto trading can become a great hobby, additional or even main income. Study the market, practice, and don’t make rushed decisions.