Many people are thrilled to learn all the advantages of using bitcoins, to receive international payments, to sell goods or services, to get rid of banks, to protect their money from inflation, and so on. Immediately they want to participate in this whole economic revolution. However, they have no idea what to do, how to start, and many are terrified by technology.That’s why it is necessary to show a quick little guide about cryptocurrency trading for beginners.
1 “I want to buy bitcoins now.”: The first thing you should have is a wallet. Their primary function is to save your virtual money. Just as you would with physical money is advisable to have small amounts of cryptocoins in the wallet and have several available, as they say out there “do not put all the eggs in one basket”. There are several types of wallets (mobiles, webs, desk, hardware) and can be found on several platforms like Coinbase, Spectrocoin, Blockchain, among others.
2 How can you get coins?: There are many sites on the internet where to buy and sell coins. Most pages have a platform available for the trade in a transparent way for the user, i.e. they are in charge of the transaction for you, you just have to register and you can make deposits in your local currency to your accounts. Once verified the deposit you will have balance in your account to buy cryptocoins. The same thing happens if you want to sell; whether you have obtained payments of products and services or if you have bought coins, with a simple transfer from your wallet to the recipient’s wallet, and after a few confirmations, you will have your balance available for sale.
On the other hand, there are other sites where you can make the transaction directly with a particular person of your choice. For this, you only have to register on the site to contact one of the individuals who buys and sells coins, negotiate a price and make the trade.
3.Security first: The most important thing when creating your wallet, or registering at one of these sites which allow you to make transactions, is managing the security of your passwords and data for recovery of accounts. It is always good to have a physical record, either an agenda or a notebook, your passwords and account recovery codes. It is important that you use strong passwords, nothing familiar or similar to what you usually use, remember that it is your money that you try to protect, so do not use personal data to create your passwords, let alone repeat the password that you use elsewhere, like your e-mail or Facebook.
4.Experiment: Finally start to test little by little, deposit, or buy small quantities of coins, so you learn about buying and selling bitcoins for profit, before making large transactions or offer products and services. Nowadays in some countries, it becomes more profitable to protect money using cryptocurrencies since it helps fighting inflation. By changing money to virtual coins, it is likely to maintain its value for longer. This brief guide should get you ready to start using cryptocurrencies and lose the fear towards the new technologies. Nowadays it is noticed that most people are Interested in trading Bitcoin. This is because eby doing this they will be able to earn better profits in few transactions. Bitcoin trading has come out to be very useful for the merchants and traders.