What do you need to start trading cryptos?Getting started with crypto trading might seem like like learning Chinese, but it's actually not that difficult.
Crypto trading can earn you some serious money, but you should also be aware that crypto trading can even more easily result in losing all your money.
So before anything else, trade responsibly!
But if you're just starting to think about crypto trading and are unsure how to do it, what do you need to get started?
Get your money ready
Firstly, of course, you need money. To make money you need to have money to get started with.
The positive thing is that you don't need much. If you want to, you can get started with just $10 or even less.
Choose your crypto wallet
You need to have a crypto wallet where you keep all your cryptocurrencies.
While you can keep your cryptocurrencies in the exchanges you're trading in, it's not really recommended.
Decide on crypto exchange
You need to decide which cryptocurrency exchange you want to start trading in. How to choose?
- The exchange needs to accept people from your country.
- The exchange should be trustworthy. So choose some bigger one.
- The exchange should have lots of different cryptocurrencies available.
- The exchange should have as low trading fees as possible.
Getting started with crypto trading might seem like like learning Chinese, but it's actually not that difficult.
Trading cryptocurrencies using CFDs means that you are trading assets you don't actually own.
When you are looking for places to trade cryptocurrencies, you'll notice that many of them are called cryptocurrency exchanges while others call themselves cryptocurrency platforms. What's the difference?
What are the most popular cryptocurrency pairs to trade? And what does a cryptocurrency pair mean anyway?
Before you start trading cryptos, make sure you're aware of all possible costs and fees related to crypto trading.
What are the main differences between trading cryptocurrencies and trading stocks? Which is more profitable? Let's look into it!