I suddenly decided to write this post because I wanted to help with some of the most frequently asked questions these days about how to do crypto trading and because it is a good opportunity and a good time for others like me to take advantage of this field. People who read and see this post may know this better than I do. So I kindly request you to humbly point out any shortcomings. I'm not a good fighter to write a post or a blog. The post is written based on the experience gained in this field.
What are Crypto Currencies ?
Most of you know by now what Bitcoin is, how the value of btc is determined and much more. If there are people who do not know anything about Btc, What Is BTC , read the article.
However, cryptocurrency is generally USD, EUR, GBP, LKR and some other currencies. This crypto currency can never be seen with the naked eye. Because these currencies are digital currencies that can only be seen through a computer system. If we want to get this money into a bank account, we must translate it into Rupees or USD through a Crypto Currency Exchange (Exchanger) service.
Is there a difference between Crypto Trading and Forex Trading?
Forex Trading :-
This question is often asked by a lot of people, so I will give a simple idea .. I do not know much about Forex but I know how to understand .. Forex is a foreign exchange market. What usually happens here is that the value of all currencies in the world is determined by the ups and downs of the world.
So Forex trading is done through a good broker after making predictions or conclusions about the current or future value of one currency between the major currencies of the world (Ex: EUR / USD, GBP / USD). Place a buy order if the value of the currency goes up or a sell order if it goes down. Then the order is to make a profit by making a profit. But if the order we place continues to go towards Loss, our account will be completely Loss without doing anything like Stop Loss. This is exactly what happens in Forex trading. If you want to learn, there is a lot in this field. Remember this for now. or the post will flow in a different direction .
Crypto Trading :-
Currently there are about 1000 types of cryptocurrencies in the world but the base currency systems are Bitcoin and Ethereum. By now, the value of a bitcoin is around $ 1780, if there is one. So, like in Forex trading, we do not have to buy and sell using currency pairs.
My simplest idea (crypto) is that crypto trading is the best long-term and short-term investment you can make for the future. It is better to buy a crypto than to wait for a buy or sell order and lose an account like in forex trading. It does not go to the end of the account like. So I would like to say that crypto trading is better than Forex .. Do not think that there is no risk because the crypto we buy can sometimes be a scam or our account can be hacked. Therefore, there is a risk in crypto trading as well as other internet related businesses.
I will give the best example of that
What is the first thing to do to start crypto trading?
Step 1
First we need to use our rupee to buy bitcoin. For that we can buy bitcoin with our credit / debit card. It is a bit expensive because the site fees are so high. Or you can buy it at a normal price from someone who sells Bitcoin.
Note: You have the security of your own money when making money transactions. So always
Only deal with people you trust. Save your valuable time and money from being caught by fraudsters who sell at high prices.
Step 2
We need a walltet to store the bitcoin we buy. Imagine for a second you were transposed into the karmic driven world of Earl. Create a Bit Coin Wallet Read the article and make a bitcoin Walltet.
Step 3
Next we need to choose a good Exchanger to do Crypto Trading.after setting up the account I mentioned correctly, we can buy bitcoin with our own money and take the bitcoin to the Coinbase walltet and then send it to the Exchanger site.
NB: Never trust anyone in internet related businesses. They have the opportunity to learn the knowledge they need from this site or other sites, understand the risks and go on a successful journey. We are just guides.
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