Introduction to Cryptocurrency Trading for Beginners - News-Credit-Mortgage-Coin

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Friday, September 3, 2021

Introduction to Cryptocurrency Trading for Beginners




When I first became interested in cryptocurrencies, I felt lost among so many foreign terms. Where should I start? What are the most basic words that I need to research and keep in mind? What useful resources can I draw on? This cryptocurrency guide you are reading was written in less than an hour and will give you an idea of ​​what to hope for on your cryptocurrency journey and guide you on how best to start it. Enjoy it, because this can be the exhilarating journey of your entire life.

The Rise of Crypto Coins

As the technology literacy of the society increased, cryptocurrencies began to be accepted as a means of storage as a valid value, and there was even an explosion in this regard. Headlines such as “Bitcoin price broke all-time record” or “Ethereum price continues to rise” began to appear frequently among the news feeds followed by the general public. We know that people who were once skeptical of Bitcoin and the technology behind it are gradually becoming familiar with cryptocurrencies and are becoming more and more interested in this field. At the time of writing this article, the total value of the entire cryptocurrency market was around $147 billion. Just a few months ago, this market wasn't even worth $100 billion. A few months from now, who knows how long it will be.


Current Structure of Cryptocurrency Market

You may have heard of Bitcoin and alternative coins. These denominations began in 2011 with the emergence of bitcoin derivatives coins. Each crypto currency as an alternative to Bitcoin emerged to be used in its own specific field, and each began to claim that they were better than bitcoin. Since then, countless new alternative cryptocurrencies have emerged in the cryptocurrency market and bitcoin's market dominance has disappeared. These sub-trades are gaining market share at a tremendous rate. More than tenfold growth was observed in just six weeks.


Cryptocurrency, Stocks, and Official Currency

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


How to Buy Bitcoin?

The most common place where people buy and trade cryptocurrencies is the exchanges where these coins are sold. That is, websites where you can buy cryptocurrencies using your regular money. There are many factors by which you can measure the reliability and quality of such a website. For example, factors such as liquidity, reputation of the site, transaction fees, trading and withdrawal limits, transaction volume, security, insurance, user-friendliness. Considering all these, 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.

Crypto Wallets

The websites we mentioned above have online wallets where you can store your cryptocurrencies. However, those who are worried 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 the myetherwallet.com service where you can do offline transactions or transfer them to USB-style devices like KeepKey. Both eliminate the risk of online platforms.


To transfer your money to offline usb wallet for long-term storage, follow these steps:


  • Connect the KeepKey USB cable to the computer.
  • Open KeepKey client from google chrome apps.
  • Find your wallet address in the Keepkey client.
  • In the Send/Request section on the Coinbase site, enter your wallet address that you have buried in KeepKey.
  • Confirm the transaction by clicking Send Funds.

It will be even safer if you try to send a test amount (like 0.0001 bitcoin) beforehand to check if the system is working. Keep in mind, a small transaction fee may be charged


In addition, due to the structure of this physical wallet, you can store many different types of crypto money.

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