You want to trade cryptos? One of the best way to trade cryptocurrencies would be setting up a bitcoin wallet, buying some bitcoin with tangible currency, and exchange these bitcoin on a cryptocurrency exchange site to the altcoins of choice.
By doing this, the trader has to securely maintain one or more digital wallets to store and exchange the purchased coins, and is more prone to cyber theft and hacker attacks that target the exchange sites. Whenever you are trading with some exchangers, a wallet is not required, since the trades are performed though our SSL secured online trading platform, this proves to be a big advantage in avoiding potential hackers and theft.
Things To Look At For While You Trade Cryptocurrency
Note that the cryptocurrency market changes very fast, new cryptocurrencies are born and others disappear. The main thing that draws people to the world of cryptocurrency is the idea of protecting themselves against the devaluation of their own national currency. Currently, more retail stores have started accepting Bitcoin and other digital currency as a form of payment. Also in countries like Japan, people have started using it more frequently thanks to the government officially approving the currency.
However, bitcoin was accepted mostly by a marketplace called darknet, but gradually it has gained acceptance and was adopted by legitimate brick and mortar and online businesses. So with more businesses accepting it as a form of payment, banks are starting to realize that this new product has the potential to change the financial world, and also draw away partial financial control from governments and banks.
We have different factors that push the price of cryptocurrencies up or down. But to start with, just like the forex market, the higher the demand the higher the price will be. And also, the purchase of the coin by traders purchasing on speculation can affect the demand and therefore the price.
Bitcoin price dropped once again in 2014, as Bitcoin exchanges stopped receiving deposits from Banks, and in 2017 China’s central bank was rumoured to implement regulatory action regarding the digital coin exchanges which would have accounted for most of the Bitcoin trading volume.
In conclusion, the crypto market cap is at an all-time high of over $60 Billion, this is partially due to people learning what cryptocurrencies are and considering them as an investment vehicle to add to their investment portfolio. However, one of the basic formula in trading is buying low and selling high, it also applies to the pattern of cryptocurrencies price that shifts between certain price points.
No matter the size of your capital, you can find a digital currency that matches your needs to trade. It is very important to follow news on digital currency, and this can help you to choose the best cryptocurrency.
How To Trade Cryptocurrency
To trade cryptocurrencies, there are several ways you can do it, but you will need an exchange platform. There are three world class online exchangers we would love to recommend for you for a safer transaction, they are:
Coinbase is a global digital currency asset and exchange company that provides a platform to buy and sell all kinds of digital currencies worldwide. Coinbase as well sends all necessary information about your transactions to block chain network so that it can be verified.
Coinbase also serves as a wallet where all your digital currencies can be safely stored. In their platform, they exchange different types of cryptocurrencies such as Ethereum, Litecoin, Bitcoin, and also other fiat currencies in over 70 countries.
Coinbase has over 30 million customer base and has facilitated the exchange of digital currencies worth over 50 billion dollars since its establishment in 2012. So if you are interested in buying or trading in digital currencies in today’s digital world, then we recommend you sign up with Coinbase.
When buying and selling cryptocurrencies, Coinbase expects you to link your bank account or debit or credit card (whichever you prefer) to your account with Coinbase to be able to buy cryptocurrencies. To use a bank account in Coinbase enables you to have higher limit which is $100 per transaction and $2, 500 per week, but the disadvantage is that it takes long to verify such transactions, so you will definitely see your money between two to four days in your Coinbase wallet depending on your bank. But for those who want to sell digital currencies, once you have confirmed the sales, it will also take between two to four days for your proceeds to reflect in your bank.
For those with debit or credit cards on their Coinbase wallet, a lower limit of $200 per week is given, though you can still buy cryptocurrencies by transferring money from your bank to the Coinbase web portal and your bitcoin will show up in your Coinbase wallet instantly.
Binance is a cryptocurrency trading platform which offers the most competitive crypto rate in the world. Binance accepts users all over the world and they have received lots of positive reviews from cryptocurrency traders. Recently, they have partnered with top Israel based Payment Company called Simplex to enable credit card buying of cryptocurrencies at a premium.
Binance was founded by Changpeng Zhao and launched on July 2017. Their operation consist of crypto to crypto exchange which means that they don’t facilitate fiat currencies. Their partnership with Simplex will allow them to run brokerage services that will enables you to buy up to 6 different cryptos with your credit card and a service fee of 3.5% will be charged by them.
Binance only accepts crypto deposit in their platform, meaning that you can transfer your cryptocurrency from Coinbase to Binance. Note that all the coins that are supported by Binance can be deposited and withdrawn at any time. The platform enables you to buy the below cryptos with your credit card:
- Ripple (XRP)
- Ethereum (ETH)
- bitcoin (BTC)
- Binance coin (BNB)
- Bitcoin cash (BCH)
- Litecoin (LTC)
Kucoin is known as one of the best and fastest growing crypto exchange in the world. Also known as the people’s exchange, it is very simple and easy to use for first time investors, and for advanced users who love cryptocurrencies. They have whole lot of altcoin on their platform and are also adding more on a regular bases. Kucoin’s objective is to offer low fee for both withdrawing and trading. Zero deposit fee and their trading fees are only 0.1 percent on whatever you purchase making it very affordable to use their platform.
To ensure you get good trading experience, whether you are buying or selling, we recommend you register with the above mentioned exchange (Coinbase, Binance and Kucoin) for safer transactions.