I guess by now you might have heard about crypto, but still do not know what it is all about or how to start trading. Crypto is now everywhere on social media and the lips of every youth on the street.
Cryptocurrency is spreading very fast like wildfire, and through research, it is said to be one of the major drives of Web 3.0.
It won’t be pleasant if you miss out on this opportunity of investing in the future. But, before you dive into the cryptocurrency world I want to give you a solid foundational understanding of what crypto is all about and how to also start trading coins.
There are a lot of coins that are being created and listed in the crypto market. In simple terms crypto is an online currency, it is a decentralized digital currency that you can buy, sell, and also trade through Blockchain technology.
And the beautiful part of it is that you can invest in crypto and trade from the comfort of your home.
Cryptocurrency is a digital asset that is traded globally. It is a digital currency that is acceptable in the digital market, and because of its high trading volume, it has been recorded as one of the high-ranking currencies in the digital world.
Cryptocurrency was founded in 2009. Crypto is a distinguished digital money and doesn’t need third parties like financial institutions to validate transactions.
Transactions are only certified and recorded on a Blockchain, an unchangeable ledger that tracks and records assets and exchanges.
This currency only exists digitally or virtually and also cryptocurrency can be used to secure exchange and transaction in the digital world. It is being distributed through a public ledger called Blockchain.
Cryptocurrency is a digital currency in the sense that it operates only through a computer network. Crypto is not created or meant to exist physically.
It is a currency that can only be traded online. You must also take note that there are four major digital currencies which are;
Crypto is a currency that operates in an electronic system. It is a peer-to-peer electronic system.
It’s not like the physical money carried around. Cryptocurrency transactions only exist through an online database as the digital entry.
Below are the most traded coins in the crypto market.
Bitcoin is the first cryptocurrency coin that was created and traded. Bitcoin is the head of the crypto market.
Microstrategy has also been recorded as the highest public company holding Bitcoin and has also adopted Bitcoin as its primary asset. One Bitcoin is currently about $61635.65 today in the crypto market.
Ethereum was created in 2013 by Vitalik Buterin with other founders like Charles Hoskinson, Gavin Wood, Anthony di Loro, and Joseph Lubin. In 2014, Ethereum was developed and the network went live on 30th July 2015.
On the 15 of September 2022, Ethereum transitioned, it went through an upgrade called “The merge.” One Ethereum is currently around $3358.77.
The USDT coin also known as tether is currently around $0.9982 in the crypto market. Tether (USDT) was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Tether does not have its Blockchain, it has been operated as a second-layer token on other top coins like Bitcoin, Ethereum, etc.
Binance coin is also one of the cryptocurrency exchange coins that have been traded in the crypto market. Binance was founded in July 2017.
Every user of Binance coin usually receives a discount on their transaction fee. The Binance coin was created by Changpeng Zhao also known as Cz, and he launched it on July 2017.
The Solana coin is currently around $140.54 in the crypto market today and it has a total trading volume of $34.46m. The Solana coin project started in 2017 but was officially launched in March 2020. The coin was founded by Anatoly Yakovenko and was assisted by his colleague Greg Fitzgerald.
One unique thing about Solana coin is the speed at which it rises within the crypto market within a short term.
The USD coin was founded by Jeremy Allaire and Sean neville. The USD coin was launched in September 2018.
In 2020, the circle and coin base made an upgrade for the coin. The USD coin is currently around $0.9999 in the crypto market today, and the oldest American bank BNY Mellon is a custodian of the asset holding the USD coin.
The ton coin telegram premium was created by Pavel Durov. One Ton coin is currently around $7.6746 in the crypto market today. The ton coin was founded by Anatoly Makosor and Kirill Emelianenko.
The ton coin has a total supply of about 3.47B – 5B Ton in circulation. The ton coin team has a vision of empowering 500 million users to own a digital asset.
The XRP coin was founded in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, and in September 2012 the founder collaborated with Chris Larsen and established the ripple company.
One XRP coin is $ 0.4795 in the cryptocurrency exchange market today. The XRP coin has about 50 billion coins in circulation.
The doge coin is also one of the most traded coins today in the cryptocurrency exchange market. The coin was founded by Billy Markus, oregun, and Jackson Palmer in December 2013. Some companies accept Doge coin for payment which include;
One doge coin is currently around $0.1256.
The Cardano coin popularly known as Ada was created in 2017. Cardano (Ada) was founded by Charles Hoskinson. One Cardano coin (Ada) is currently worth $0.3996 in the cryptocurrency exchange market today.
Currently, there is a total circulation of about 31 billion cardano(Ada) coins. In 2020 the cardano(ada) coin was upgraded.
Cryptocurrency runs through a computerized database using cryptography to ensure transactions. Individuals are in control of their coins. The cryptocurrency exchange market uses decentralized control.
Crypto is a Decentralized currency. This means that it is not issued or backed by a central authority such as the government, banks, etc.
The crypto market is managed by a peer-to-peer network of computers running free. The FCA Only regulates the market.
Satoshi Nakamoto is the name being used by the presumed pseudonymous persons who developed Bitcoin.
Satoshi Nakamoto created Bitcoin which is the head or highest traded coin in the crypto market. He invented Bitcoin in 2008 and in 2009 it was being used as a currency.
Most Newbies always ask how can I start trading cryptocurrency. Don’t worry about that I got your back. Here are the proven ways to set up your crypto currency trading account.
After searching through the cryptocurrency exchanges and brokers, you will have to choose one of them and open an account with them. Once you open your cryptocurrency trading account, you are one step closer to trading.
Once you are done setting up your account. The next step is to fund your wallet, and you can do that through the following process;
Going through these hard parts and setting up the infrastructure for your crypto wallet is important. Now you will have to decide which crypto coin to invest in. So, all you have to do is go to your portfolio and add it, then you can purchase it.
Now that you have funded your wallet and bought the crypto you want to start trading with, it is also essential that you create your trading strategy. Professional traders know and understand this.
You must know when to trade, invest your time and study the market movement, follow market news, improve your trading skills, and trade consistently.
You now have your cryptocurrency in your wallet, so you can start exploring trades. You can also exchange your initial investment (coins) for other cryptocurrencies or hold on for a short-term or long-term whichever is best suitable for you.
You can start with $10-$20. Yeah! As a Newbie I advise you start with $10-$20.
Many beginners usually argue this, but I can boldly tell you that you can start your crypto trading with at least $10-$20 with legit proof.
I usually advise newbies to start trading cryptocurrency with low capital, so as not to lose all their money at a time.
They are new to the crypto market and do not have strong trading skills yet and there are many scammers out there. As a Newbie you have to be careful.
Newbies are yet to master the crypto market and how it works with time as they trade consistently and have built solid trading strategies and adequate knowledge. They can deposit more funds into their wallet.
Here are the brokers that allow you to deposit $10-$20. They include;
A lot of newbies make the mistake of thinking that the Crypto world is a get-rich-quick scheme, but unfortunately, it is not.
Actually, you will make millions of dollars trading cryptocurrency but not overnight. The cryptocurrency trading market requires time. So as a newbie, I advise you to be patient enough to study the market movement thoroughly.
Give yourself to it, and invest your time studying the market analysis. Always be alert for the market news. Know when to hold for short-term and long-term.
The digital world is so broad, that there are new coins coming into the crypto market. So maximize, every one of those opportunities, because you don’t know the next BTC.
What you really need to get in the crypto currency exchange market in 2024 is updates about coins that are recently launched which also has a strong foundation with the belief that it is going to do well in the crypto market.
The crypto market is getting vast every day, therefore you must choose wisely in which coin to start with. Also following the proven steps for trading that I highlighted above will be a very good way to start.
Trading cryptocurrency effectively in 2024 requires a strong trading strategy, because there are a lot of other traders in the market that you are probably competing with.
There are few things you must take note of, if you must trade effectively in 2024;
The typical ways of drafting content can be fussy, expensive and slow to scale.
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