Beginners Guide to Cryptocurrency

Cryptocurrency has basically been a topic of intense discussion over the most recent couple of years. Many times we have heard stories of people becoming millionaires overnight and, at the same time thousands of people losing their hundreds of dollars wanting to make a brisk buck?

Thus, if you are hoping to put resources into crypto in a safer way, then this guide is for you. The aim of this guide is to help and educate investors as much as possible and to decrease the speculation in the market.

How to Start Investment in Cryptocurrency?

• Exchange platforms where you can buy Bitcoins or any other Crypto Currency

If you are living in a country where you have an official cryptocurrency exchange, then you don't have to stress a lot over trading cryptocurrency. You can quickly sign up for the exchanges and transfer money from your bank account to buy any digital assets. Listed are few country wise exchanges:

• USA: CoinBase, Kraken, Gemini
• INDIA: Digital Ticks, BitBNS
• UK, EUROPE: CEX
• ISRAEL: CoinMama

However, the problem is for people living in the countries where there is no cryptocurrency exchange and users have no option of transferring funds from their bank accounts to buy any digital assets. This makes it actually hard for the users to hold any digital currency now and with the costs surging at a faster pace, it may be late for many to get hold of cryptocurrencies. But that is where we come to rescue. Wondering how? We have concocted different choices through which you can trade cryptocurrency.

• Using PayPal
• Using Credit Cards
• Using Debit Cards/Bank Account

As we find new working strategies, we will continue sharing it on Digital Ticks. Until further notice, what's important is that you have to pick an exchange/website from where you can trade cryptocurrency on a regular interval.

Storing Cryptocurrency in A Secure Wallet

To store any digital asset, you need a wallet. In the event that you look online for any cryptocurrency wallets, you will get a lot of choices yet you should be cautious with picking the correct one. With numerous wallets being fraud, you will end up losing your assets.

Bitcoin isn't like the typical money that you keep in your bank. You are responsible for the security of your cryptocurrencies and that is the reason you keep it in a wallet that you have 100% authority over. This is done by having the ownership of a private key. For the beginner, it might sound extremely technical, yet it is, in reality, it is easy to understand.

To simplify your understanding, you simply need to utilize a well-recognized wallet that allows only you, to keep the secret code. This code is the secret key for your wallet. Regardless of whether you lose your cell phone or iPad, you can recuperate your crypto wallet with this security code.

What is the right time to engage with cryptocurrency?

There is no broad guideline when to buy cryptocurrency. Typically it's not a smart thought to purchase in at the peak price, and more often, it is likewise not a smart thought to get it when the prices are crashing. The best time may be when the cost is steady at a moderately low level.

The art of trading is to choose when a crypto is at its highest peak and when it reaches after falling. Sometimes, a coin price rises, and after it passes a certain mark, where everyone thinks this must be the peak of that rise, the genuine rally begins.

The only advice given is to sit aside and take some time. Try not to purchase in, just because there was a dip. There may be another as well and don’t buy in because of the fact that you are afraid that it will detonate tomorrow. Watch it, keep yourself informed, buy it, when you think the timing is good. Also, don't be a feeble hand. Try not to sell it too soon. Hold it because the monetary revolution has just begun.

How safe such investments are?

At this point, you can presumably observe that there is no simple answer to this question. It's not only the matter of should you invest, yet additionally a matter of how to invest. As stated above, start educating yourself. Learn about the cryptos, what influences it, what are its points of interest and drawbacks, etc. After you feel you've procured some basic instruction, it's the ideal time for only you to answer this question. When you start, start small and learn as you go. You'll most likely commit a few mistakes, which everyone does. You can consult others and read the info online but never follow somebody's advice blindly.

Content Credit: This content has been taken from https://cryptotradingexchange.blogspot.com and originally posted on https://cryptotradingexchange.blogspot.com/2019/04/how-to-start-investment-in.html