Crypto has become so popular that many people now strive to join this field and buy at least some crypto coins to keep up with the times. The future is digitalization, and digital money and settlements will receive a widespread application in a while. Let’s see where crypto assets are already used today:
1. online and offline shops add the function to pay with crypto for their goods and services;
2. different software can be bought with crypto;
3. fast money transfers are available through crypto wallets with no middlemen;
4. logistics control for large companies through smart contracts;
5. blockchain games allow to earn tokens while playing online;
6. metaverses allow building an online business.
The prevailing application for crypto assets is investment and trading. In his article, we will try to explain trading cryptocurrency for beginners.
Trading is buying and reselling assets with a profit. Since crypto rates are not depending on the government and banks, they are changing daily, opening a space for generating income. Look at any crypto coin chart, and see those price fluctuations during the day. Using those rate movements smartly allows traders to receive portions of income during the day, which is called “day trading”. Also, there are scalping, swing and position trading methods. The crucial thing in cryptocurrency trading for beginners is to start with small amounts and long-term investments, for example, buy and hold (position trading strategy), which gives enough time for thinking and analyzing the market.
To understand trading better, visit the WhiteBIT blog. It provides a cryptocurrency guide with all details and step-by-step instructions on how to buy your first asset and how to apply this or that strategy. To try yourself in trading, you may use the WhiteBIT demo account. It will help you find each strategy’s pitfalls and use all the platform tools.
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