the simplified guide for beginners!

Cryptocurrencies are virtual currencies that allow decentralized transactions, either outside the banks, without going through intermediaries. Like any other traditional currency, this digital currency can be bought, sold or even exchanged, depending on its market price.

In the universe of the cryosphere you will not find a single cryptocurrency, but several hundred currencies, each with its own characteristics and value.

If this virtual world fascinates you and you want to get to know cryptocurrency trading, this little guide is made for you!

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What exactly is cryptocurrency trading?

crypto trading

Cryptocurrency trading refers to any trading related to its digital assets and which leads to the generation of profits. A trader will open an account in a reliable and secure crypto exchange site and then take care of buy and sell digital assetsby trading the price movements of its virtual currencies.

As the cryptocurrency market is well known for being much less stable than that of traditional fiat currencies, many manage to hold their own, by buying cryptocurrency at an attractive price and reselling them later, when their value increases.

Another very interesting solution for cryptocurrency trader is to go through CFDs. This derivative product allows you, without holding cryptocurrency, to speculate on their price movements. For example, if you think that the value of a currency will fall, you will position yourself for sale, whereas if you rather think that the price of this currency will increase, you will position yourself for purchase.

Your gains, as well as your losses, will be calculated largely on your positioning. Of course, you will need to mobilize part of your capital to be able to trader of cryptothanks to leveraged products, such as CFDs.

Trade cryptocurrency in 5 steps!

Currently, the cryptocurrency market is worth several billion dollars and has allowed a good number of users to make a fortune. So why not you ?

If you want to take your first steps in cryptocurrency trading, through this little guide, we will accompany you step by step in this process, to quickly become efficient in this area, and who knows how to generate profits:

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  • Sign up with a cryptocurrency trading platform, such as KucoineToro, Kraken and many more;
  • fill in the requested information and send the supporting documents related to your identity, so that they are verified;
  • fund your account by depositing funds according to the method of payment that suits you best (Euro or other);
  • find the cryptocurrency you want to trade in the list of the exchange site and pair it with your fiat currency;
  • now that your account is fed with crypto, all you have to do is place a trading order, and voila!

To emphasize that the cryptocurrency trading consists of making more or less risky transactions, because these virtual currencies are well known to have a volatile course. You can either make a fortune or lose big! So remember to make careful investments, to avoid breakage!

Some cryptocurrency exchange platforms even offer a bunch of trading tools that help you make the right choice of trades and minimize risk!

This article does not offer investment advice and is for informational purposes only..

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