Cryptocurrency has gained popularity within a matter of time and has laid a milestone ahead for modern-day cash or electronic cash. Cryptocurrencies like Bitcoin, Dogecoin, Ethereum, etc., are traded daily in huge amounts on autonomous trading exchanges.
They can also be bought using P2P and mining. In this article, we will throw some light on how to do cryptocurrency trading and see some of the best cryptocurrency trading Platforms.
If you’re enthusiastic about cryptocurrency and want to invest in the crypto market, you should join good trading courses.
Now without wasting any time, let’s see how to do cryptocurrency trading.
Procedure to do Cryptocurrency Trading
Here are some steps to make you understand the procedure of trading cryptocurrency in detail.
- The first step is to create a brokerage account, don’t worry. There are many crypto exchanges where you can create an account. For example, Coinbase, Binance, and e toro are some of the best crypto exchanges globally.
The user needs to provide personal details like a passport for the identification process for making an account. Once you get verified by the exchange, you are then ready to take a step further.
- Funding your brokerage account is the next step; you need to add money to your brokerage account to start trading. Many crypto exchanges ask to link your bank account to the brokerage account wallet to carry out transactions smoothly.
Read More: Can You Sell Bitcoin For Cash at Best Rates
- Select a cryptocurrency you are interested in. Most traders go after Bitcoin and ethereum as they have the highest market capitalization among all the cryptocurrencies.
Despite this fact, many small cryptocurrencies have gained a rise of over 1000% within months, making them an ideal choice for investment.
- When you buy a cryptocurrency, you must strategize the long-term results of that particular crypto using the trade indicators. If you are new to this trading system, I strongly suggest applying for some cryptocurrency courses.
These courses will help you develop your skills in strategy building and understanding the crypto market quickly. The Thought Tree is one of the best institutes which provides the trending course.
- When you become an active investor in the crypto market, you’ll need to store your funds and cryptocurrency in the Ewallet issued by exchanges where you have registered yourself.
E-Wallets are best encrypted to check security breaches and hacking activities, so you don’t need to worry about storing your funds in the Ewallets issued by these exchanges.
These were some steps to carry out cryptocurrency trades. In short, let’s now talk about some best crypto brokers and exchanges that most crypto traders fill.
Best Crypto Brokers and Exchanges
Etoro is one of the best cryptos brokers and is well known for providing the best cryptocurrency indicators. Recently they have added dogecoin to their list of cryptocurrency trades. They offer speedy transactions with a single click.
The Etoro app is user-friendly and easy to operate; they have well-experienced and dedicated customer support services to avoid any problems. You can easily sign up for free.
They have well-equipped headquarters in Mumbai. The best part is they also offer P2P services to their users and encompass about 140 cryptocurrencies, including WazirX’s token (WRX).
As it is India based crypto exchange, it is easy to contact customer service. The services provided by wazirX are world-class. You can buy cryptocurrency using Indian currency, set up an account easily, and deposit money in INR.
Coinbaseis a US-based international crypto exchange platform and is the second-largest platform for carrying crypto. It is also a good option for investors to buy cryptos through Coinbase as it provides better customer service facilities to make it a demanding exchange among investors.
Coinbase also offers a pro version that includes advanced features users can subscribe to the pro version coinbase if they want a smooth trading experience without any nuisance.
I hope now you got the answer to your question “How to do Cryptocurrency Trading,” and I’ve also provided some of the best crypto exchanges where you can open an account and start your trading journey. I hope you found this article of some use to counter your question on carrying cryptocurrency trades.