The process of crypto currency trading is simple. However, there are certain basics to understand before starting crypto currency trading. This is a detailed guide on crypto currency trading. How to buy, sell crypto currency? How to create an account to start crypto currency trading? What should one know before starting crypto currency trading? The following guide answers these questions
The first step
The beginner should start the crypto currency trading by looking for a company with good reputation. The company should offer great exchanges and good, secured wallet system. The process offered should be simple. To learn about different wallets and software used for crypto currency trading, read financial News .
After buying the right software or registering at the right place, the beginner should start trading prominent crypto currencies. Never invest on the currency that is new or requires detailed research. This is the observation phase and hence go for the most popular and reputed crypto currency.
The second step
At scratch, trade the crypto currencies earned with a regular currency like USD or Euros. Slowly start trading with other crypto currencies in the market. Never jump into crypto pair trading in the beginning stages. Trading crypto pairs is extremely rewarding. However, it is riskier than buying a single crypto currency.
Apart from this do not do margin trading in the beginning phases. Only an expert who has 2 to 3 years of experience in the crypto market can make the right decision. As the market is volatile, the beginners end up losing in margin trading. Also, if the tax implications are out of understandable terms, trade very carefully. Make learning investments. Learning investments are the limit wherein a loss is bearable.
Always select two factor authentication software and strong passwords.