Cryptocurrencies – how to start? Cryptocurrency trading in a nutshell

Inflation in the USA is the highest in a decade and amounts to almost 5 percent. This means that for the same amount of money you can buy less than before. Even though your earnings are rising, you can’t afford more. In this case, keeping your savings in your account is not the best solution. An alternative may be to invest in cryptocurrencies.

Are you new to the space? Are you asking yourself “oh .. cryptocurrencies, how do I begin”? We will help you with today’s article. We will show you how to start trading cryptocurrencies on the cryptocurrency exchange.

Cryptocurrencies how to start?

Getting started with cryptocurrencies is not as difficult as you think. Remember that if you are not experienced you do not need to invest large amounts. You don’t have to buy an enterem Bitcoin right away for $55,000. You can start with e.g. $1,000 or even smaller amounts.

Follow the steps below!

Concepts in the world of cryptocurrency trading

You should start your adventure with crypto by familiarizing yourself with the basic concepts of cryptocurrencies and how blockchain technology works. Find out what the cryptocurrency exchange is and how it works.

We have compiled them in a nutshell in one of our first entries:

• Cryptocurrencies for dummies – Basic Knowledge – Part 1!
• Cryptocurrencies for dummies – Basic Knowledge – Part 2!

Are you familiar with the basic concepts? We carry on!

Cryptocurrency exchange – which one to choose?

Now you need to choose the cryptocurrency exchange on which to start trading. Pay attention to a number of factors such as security, fees, opinions, available cryptocurrencies and payment methods, or additional ways to earn from cryptocurrencies. We wrote about how to choose a cryptocurrency exchange in previous articles.

We hope you will choose our CoinCasso cryptocurrency exchange. We offer low fees and an affiliate and ambassador program. By owning CCX, you can lower your transaction fees.

Create an account on the CoinCasso cryptocurrency exchange

We are happy you chose CoinCasso! We will make every effort to ensure that you are satisfied with our services.

To start trading the cryptocurrency market, you need to create an account and verify your identity (KYC). The whole process is very quick and simple.

Click the Register button and follow the prompts. Fill in your email and password, and a message with an activation link will be sent to your email. Don’t forget to secure your account with 2-Step Authentication to increase the security of your account.

Fund your account

After creating an account and passing the KYC verification, you can deposit money into your account.

There are several possibilities:

• payment of FIAT currency by bank transfer
• payment of Euro with a payment card
• cryptocurrency deposit
• Payment using MetaMask

Choosing a trading strategy

The general rule is “buy low, sell high” but investing in cryptocurrencies is a bit more complex. Depending on the amount of time and resources available, you can choose one of the trading strategies:

• HODL-holding, long-term investment
• day trading – trading every day
• margin trading – trading with leverage
• cryptocurrency arbitrage – buying a cryptocurrency on an exchange where the price is lower in order to resell it on the exchange where the price is higher
• scalping – making extremely short transactions (1-5 min)

At the beginning of your journey, you will probably choose to HODL – it is a strategy that requires the least skills and is often chosen by beginners. It does not require as much time as other strategies, but it may take longer to make profits.

Remember not to make mistakes of a beginner trader. First, don’t invest more than you can afford to lose. There is risk involved in investing in cryptocurrencies. But when cryptocurrencies are falling – don’t panic!

Choice of cryptocurrencies – cryptocurrency prices

Now you need to choose the virtual currencies in which you will invest. You can check the cryptocurrency prices on our website on the course subpage or on coinmarketcap.com. If you want to start trading cryptocurrencies, you should get in the habit of checking cryptocurrency prices frequently. Thanks to this, you will not miss potential profit opportunities. There are also various programs and bots available that will send you a notification when a given cryptocurrency grows by a certain percentage.

Bitcoin and cryptocurrencies how to start investing?

At the beginning of your journey with cryptocurrencies, you will probably choose popular cryptocurrencies. Famous cryptocurrencies such as Bitcoin or Ethereum give a greater sense of security when learning to trade cryptocurrencies. The most common cryptocurrency that you can find in cryptocurrency wallet of many traders is Bitcoin – the most popular digital currency. At its peak, the price of BTC was $65,000!

However, Bitcoin and Ethereum are not the only digital currencies worth investing in. The cryptocurrency market is very large – there are over 11,000 cryptocurrencies and tokens in the CoinMarketCap database! So the opportunities are plentiful.

What to invest in? Our attention is particularly drawn to projects such as Chainlink, Binance Coin, Uniswap, Dogecoin and Cardano. Find out more about individual projects before investing in them.

Listing of offers

Suppose you decided to buy Bitcoin on the CoinCasso cryptocurrency exchange. You are probably facing the question of how to buy Bitcoin? The process is as follows:

1. Select Exchange from the bar on the left and make sure that the selected currency pair is BTC / EUR
2. Choose the type of offer:
   • limit – offer type that allows you to choose which offer you want to use
   • market – quick cryptocurrency purchase at the current market price
   • stop market – set the activation rate at which you want to buy the cryptocurrency
   • stop limit -Your buy offer will be issued once the market reaches the specified activation rate
3. List the amount (and price) of cryptocurrencies (depending on the type of offer)
4. Press “BUY BTC” and wait for the transaction to be completed.

Cryptocurrencies how to start – summary

Congratulations! You’ve probably just purchased your first cryptocurrency. What now?

• Watch cryptocurrency prices
• Implement your trading strategy
• Read information on cryptocurrencies