How to trade Cryptocurrency?
You have some money you plan to invest but what is your target in regard to its investment? Exchanges as mentioned earlier are one means of connection from our world to the world of cryptocurrencies. Many types of exchanges are available, but how are you going to choose one? Keep a checklist that includes.
1) Validation: Before beginning, it is a prior duty to verify that exchange is possible in the area, a few cryptocurrencies having a huge name are not in the countries like India and Indonesia.
2) Reputation: You need to see the exchange’s repute. See their reviews, are they clean from all sorts of hacking tracking or do they have any sort of dirt on their names?
3) Exchange Rates: A major factor that a person needs to consider is exchange rate. Make sure to review the neighboring exchanges and collect a quotation on their rates before finalizing one.
4) Safety: You need to take into account that you have an assess to safety, even the exchange is reputed, still it is your very own money you invest and it must be your right to have an access to it.
Create your account:
The next step is to create an account on the cryptocurrency online portal, it is a very simple method. You need to enter the basic details like First name, Last name, Email and of course you have to set a password. After that to proceed further, you need to agree to the Terms and Conditions.
So, there it is. You have created an account!
Alright, once you are done creating an account, you need to do phone verification which is a necessary step. The two-step method as mentioned earlier will also send a code via SMS or call.
Adding Payment Method:
Payment mostly done via debit card, credit card or wire transfer. Buy and Sell includes the buying and selling of all types of cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. These can also be deposited and withdrawn. There are a few exchanges that do not support credit card. So, you need to do a survey on that as well. Also, you are supposed to verify your identity again. This method is also quite easy and pretty straightforward process mostly.
How to start trading?
Alright! So you are all set for trading!!
Hurray now Let’s get started. You have now signed up and verified as well so your account is all set up. You can buy assets you want to.
A summary of bitcoin wallets:
Coinbase: Easiest to use, it is declared to be the overall best. Has a very firm security, it also regularly updates, it also regularly keeps on improving user experience.
Trezor: Best declared for security. It is simply a store house, no buying and selling happens here.
Electrum: It is called to be best for Desktops.
Blockchain.info: This kind is the best used for online services, since it is not complete exchange so it is considered to me more secure.
Robinhood: It acts as a trading platform and is used for buying and selling.
Exodus: Considered best for Intuitive Desktops.
Mycellium: It is considered to be the best for mobile phones.
Cryptocurrencies have a promising future. Since each user has his unique needs, so there is no one size that considerably fits all for exchanges, a user has to analyze based on his own needs what suits him in the most optimal way.