The cryptocurrency market is developing, and a variety of new projects are introducing their coins, filling crypto-rankings. Depending on a project’s essence, сryptocurrencies can be used for the following purposes:
- Purchase of services, software and goods
- Online shops
- Blockchain gaming
- and other applications.
Cryptocurrency price is very volatile, which allows it to generate income from its changes on a daily basis or over a longer period of time.
Cryptocurrency trading is the most popular way to use digital assets. To trade crypto efficiently, you need to know which coins to buy and which strategies to use. There are several popular trading strategies:
- Intraday trading
- Position trading.
How do I Make My First Trade?
It is advisable to use any centralized crypto platform to buy digital assets. For example, WhiteBIT. Let’s see how it works on this platform. First, you register an account and go through authentication. You will receive authorization within a few days and have access to all trading instruments. Then you connect your bank card and transfer the required amount to your account. Then go to the crypto converter and select the assets you own and the coins you want to buy. The cryptocurrency calculator will help you understand how much it costs to buy cryptocurrencies, taking into account the current price crypto. You then pay a commission and receive the cryptocurrencies you need in your account.
Buying cryptocurrencies is only the first step in trading. You have to learn trading strategies and choose one for yourself. It would be best to learn theory and practice at the same time: WhiteBIT blog offers such an opportunity – read useful articles and guides and try demo trading options to practice and learn all the peculiarities of crypto trading.