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.

What Is Cryptocurrency?

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.

Digital Currency

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;

  • Virtual currency
  • Cryptocurrency
  • Stable coins
  • CBDCs.

Electronic System

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.

10 Major Cryptocurrency (Coins)

Below are the most traded coins in the crypto market.

  • Bitcoin
  • Ethereum
  • USDT
  • Binance Coin
  • Solana
  • USD Coin
  • TON 
  • XRP
  • DOGE
  • ADA

Bitcoin

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

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.

USDT

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

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.

Solana 

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.

USD Coin 

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.

Ton

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.

XRP 

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.

Doge

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;

  • Amc theater 
  • Dallas Mavericks
  • Tesla
  • Gametop, etc.

One doge coin is currently around $0.1256.

Ada 

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.

Who Owns Cryptocurrency?

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.

Decentralized Digital Currency

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.

Meet Satoshi Nakamoto

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.

How To Start Trading

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.

Open A Crypto Exchange 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.

Fund Your Wallet

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;

  • Bank transfer: You can transfer funds directly into your crypto wallet through the bank.
  • Peer-to-peer service: This service is done without third parties and most crypto traders prefer this method because it eliminates the middleman. The buyer and seller contact each other and exchange currencies without assistance.
  • Credit/Debit card: You will have to connect your card with the crypto broker. credit card is the least expensive method that I advise traders to use because of its high interest rates.

Choose A Cryptocurrency To Trade

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.

Build A Trading Strategy

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.

Start Trading

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.

How Much Can I Start With?

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.

Why Should You Start With Such A Low Capital?

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.

Brokers That Allow You To Deposit $10-$20 

Here are the brokers that allow you to deposit $10-$20. They include;

1. Etoro 

  • Minimum deposit: $10-$10000
  • Trust score: 90
  • Tradeable symbol: 3479

2. Capital.com

  • Minimum deposit: $20 
  • Trust score: 87
  • Tradeable symbol: 3007

3. Interactive Brokers

  • Minimum deposit: $0
  • Trust score: 99
  • Tradeable symbol: 8500

4. XTB 

  • Minimum deposit: $0
  • Trust score: 96
  • Tradeable symbol: 6100

5. Saxo

  • Minimum deposit: $0
  • Trust score: 99
  • Tradeable symbol: 70000

Conclusion

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.

FAQs 

How Can I Start Trading In 2024

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.

How To Trade Cryptocurrency Effectively

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;

  • Build balanced portfolio
  • primary research
  • scalping 
  • High frequency trading (HFT)

Best Coins To Trade In 2024

  • Pepe unchained: Pepe unchained has a beautiful chance of rising in the cryptocurrency exchange market because it has an Ethereum layer-2 chain.
  • Wiener AI ($WAI): Wiener AI has a groundbreaking Eri20 token combining two trending niches: memes and Ai.
  • Play doge ($play) 
  • Base dawgz( $Dawgz)
  • Sealana ($Seal)
  • Mollar
  • Hupeloot ($HPLT)
  • Fight night ($FNIO)
  • Space pay (Spy)

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