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Friday, February 12, 2021

Crypto money Trading for Beginners

 When I first became interested in crypto moneys, I felt almost lost among so many foreign terms. Where should I start? What are the most basic words to have in my research and mind? What useful resources can I take advantage of? Thiscrypto moneys guide you are reading was written in less than an hour, and with this guide, it will give you an idea of what to hope for in your crypto moneys journey and guide you on how to best start your journey. Enjoy it because this can be the exhilarating journey of your whole life.

Crypto money Trading for Beginners

The Rise of Crypto Coins

As the technology literacy of the society increased, crypto moneys, began to be considered as a valid asset and even boomed. Headlines such as "Bitcoin price broke the all-time record" or "Ethereum price continues to rise" became frequent news feeds followed by the general public. We know that people who were once skeptical of Bitcoin and the technology behind it have gradually become familiar with cryptocurrencies and are increasingly interested in this field. At the time of writing this article, the total value of the entire crypto moneys market was around $ 147 billion. Just a few months ago, the market value was not even $ 100 billion. Who knows how much will be a few months from now.

Current Structure of the Crypto Money Market

You may have heard of Bitcoin and alternative coins. These denominations started with the emergence of bitcoin derivatives coins from 2011. Each Crypto Money as an alternative to Bitcoin emerged to be used in a specific field, and each began claiming to be better than bitcoin. Since then, countless new alternative cryptocurrencies have appeared in the Crypto Money market and bitcoin's market dominance has disappeared. These sub-branches are gaining market share at a very rapid pace. More than ten-fold growth was observed in just six weeks.

Crypto Money, Stocks, and Official Money

The currencies you know are referred to by the Crypto Money, community as “fiat”, legal money without a coin. Although crypto coins bear the phrase "money" in their name, they are more similar to stocks than normal currencies. When you buy a Crypto Money, you actually buy a kind of technological stock and become a part of the blockchain chain and network.

How to Buy Bitcoin?

The most common place where people buy and trade Crypto Money, are exchanges where these coins are sold. So, websites where you can buy cryptocurrencies using your regular money. There are many factors you can measure the credibility and quality of a website of this type. For example, factors such as liquidity, site recognition, transaction fees, trading and withdrawal limits, transaction volume, security, insurance, user-friendliness. When we take all these into consideration, Coinbase can undoubtedly be shown as the best website to buy and sell cryptocurrencies. It has a user-friendly interface for beginners and offers an unrivaled 100% crypto insurance.

Once you are familiar with buying bitcoins, you may want to convert these bitcoins to other cryptocurrencies. For example, you may want to sell bitcoin and buy other alternative currencies such as Ethereum, Ohm, MorningStar, Neo, Ripple, LiteCoin. For this, you can transfer the bitcoibs you purchase through paribu and transferred to your Coinbase account to the GDAX site without paying any transaction fees. You can think of Coinbase as a bitcoin buying platform and GDAX as a bitcoin trading platform. Transfers between these two are instant and free.

You have gradually become familiar with other alternative cryptocurrencies. Websites like Bittrex, Polo, or NovaExchange are also the main websites where you can trade Crypto Money.

Crypto Money Wallets

The websites mentioned above have online wallets where you can store your cryptocurrencies. However, those who are concerned that online sites may be hacked may not want to keep their money on these sites. If you do not want to keep your money on these sites, you can use service, where you can perform offline transactions, or transfer it to USB-style devices like KeepKey. Both eliminate the online platform risk.

Follow these steps to transfer your money to offline usb wallet for long term storage:

Connect the KeepKey USB cable to the computer.

Open the KeepKey client from Google chrome applications.

Find your wallet address in the Keepkey client.

In the Send / Request section of the Coinbase site, enter your wallet address that you have embedded in your KeepKey.

Click on Send Funds to confirm the transaction.

It would be even more secure if you first check that the system is working by trying to send an amount for testing purposes (such as 0.0001 bitcoin). Note that a small transaction fee may be charged

You can also store many different types of cryptocurrencies, due to the nature of this physical wallet.

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