Bitcoin. Alone the word can arise in many gold digger mood. After the gains in recent months, the cryptocurrencies are experiencing what it would mean if government regulations were to strike. China and South Korea are currently considering tightening regulation with Bitcoin and Co. trading. Individual cryptocoin courses slip by more than 20 percent. For having a proper idea regarding How To Trade Cryptocurrencies you will need to be specific now.
How it Actually Works
Today, the Bitcoin was, for example, on average at around 12,000 dollars / piece, in December 2017 he was briefly at 18,000 dollars. Other cryptocurrencies, such as Ether or Ripple, have gained hundreds of percent in value in just a few months not many speculative or investment objects can show such a change. For that reason alone, this payment method and the technology behind it should have your attention.
Just before Christmas, friends and people fail to invest in Bitcoin or alternatives, mainly because verification processes of Exchange sites and transaction processes did not work – the reason was almost always an overload of servers. Over the Christmas holidays they read through all websites, white papers, literature and what they can find. With the decision not to invest in the new digital currency in the short term in order to trade with it and to make a lot of money as fast as possible, but rather slowly and sustainably into the whole matter.
Which brings the people to my first piece of advice:Never put everything on a card, if you believe in the Blockchain technology and its currency, not only buy and sell fast, but also invest in the long term. Investigate extensively the alternative currencies and necessarily the companies behind them. It may also be worth investing in the company you just found and giving you the opportunity to acquire shares in the venture in the form of ethers (ICOs). You may find Ethereum so ingenious that you even start to dig for ether with your powerful graphics calculator (Mining).
Understanding, Buying and Spending Cryptocurrency (Trading)
Whichever currency you choose, you’ll need to find a suitable platform and exchange your dollars for it. The easiest way to do this is through sites where you connect your bank account or credit card, then it’s much like an online bank transfer or a payment on the internet. Depending on how intensively you verify, you can “swap” large or small amounts directly. In Germany, the following portals are popular:
- de
- GDAX & Coinbase
- Binance
- Bitfinex
Many of these providers also give you the option to own the Bitcoins through an account. If you want to be independent, then you should create your own digital wallet, a so-called electronic wallet. A provider of such an electronic wallet app with a lot of positive reviews in the App Store is the Blockchain.com app.