Nowadays, it a not only traditional currency that can do trading, digital assets like cryptocurrency can do the same. The trade is basically the same. If you trade your cryptocurrency, you can exchange your cryptocurrency for other types of crypto. You can also sell, purchase, even exchange fiat money for cryptocurrency. Cryptocurrency trading has similar work to foreign exchange (forex), where you can trade your fiat money anytime, 24/7. The vast development of cryptocurrency makes it explode as the existence reaches 1,500 at least. Those coins are mostly acquired by using the biggest cryptocurrency, Bitcoin (BTC) or Ethereum (ETH). If you do not have the mining skills of cryptocurrency, but you want to join the cryptocurrency world, trading is the best choice for you. It is easy, time-saving, and you do not have to understand technical issues in mining. Read more: https://www.crypto.nl.
Best online brokers for buying and selling cryptocurrency
If you are deciding to trade your cryptocurrency, it means you also need to find the best online brokers. Cryptocurrency trading means that you are not only exchanging your assets but also selling and purchasing cryptocurrencies. Before choosing the best online brokers for you, you need to pay attention to three main factors. First, you need to select an online broker that has two-factor authentication, highly-secured wallets, and cold storage for your assets. Second, your online broker must be user-friendly for the website as this will ease you in trading. The last is your online broker should offer various cryptocurrencies, especially the two biggest cryptocurrencies, Bitcoin and Ethereum. To ease you in finding the best online brokers for you, here is the list of the best online brokers for buying and selling cryptocurrency:
If you are looking for a platform that focuses on trading cryptocurrencies directly, including Ethereum, Bitcoin, Bitcoin Cash, and Litecoin, Coinbase is the best platform for you. Coinbase allows you to store your coins in a special vault with additional protection if you want to delay your withdrawal. To use this platform, you need to pay 0.5% for the spread mark-up, and you will be charged for each transaction depending on the funding source and its amount. The commissions you need to expense for Coinbase are about 1.99% of each transaction value. Yes, it might not be the most competitive option. However, there are still great alternatives for you to choose from. And to find out more about it, you’re in the right place.
In terms of purchasing cryptocurrency, Robinhood is the best platform that you can use. Robinhood is very popular among traders as this platform offers zero commission for each trade! Besides cryptocurrency, Robinhood also offers Exchange-traded Fund (ETF) and stock with competitive prices. Robinhood is user-friendly and totally easy to use which makes it popular among beginners.
- Charles Schwab
In fiat currency, Charles Schwab is considered one of the top brokers in the world. However, as the development of digital assets is getting bigger, Charles Schwab offers cryptocurrency trading services. There is no minimum account if you register on Charles Schwab. All you need to pay is $1.50 for each contract. Besides, if you succeed in bringing your money back in a huge amount, you will get a bonus.
Where can you buy and sell cryptocurrencies?
If you have ever tried traditional trading, you will understand the main advantages of traditional brokers are offering investable securities widely. Even if you cannot trade your cryptocurrencies directly, the thing you can believe in these digital assets is only the future. As each country has its own policy to regulate cryptocurrency, it is hard to make it the same in terms of buying and selling digital assets. In the U.S., you can even purchase and sell your cryptocurrencies through PayPal.
If you are interested in purchasing or selling cryptocurrencies, you need to do several steps. The first thing you need to do is to make sure that you have downloaded the wallet to keep track of your cryptocurrency. Choose a wallet that is considered the most highly-secured wallet because it can keep you from scammers. If you are in the U.S and you want to buy cryptocurrencies such as Bitcoin, Ethereum, Litecoin, or others, the best application that you can use is Coinbase. Not only purchasing your cryptocurrencies, but Coinbase also allows you to sell and keep on track your assets. The step is simple. You just need to open the application and register your account just by following the steps they are instructed. Be careful when making a portfolio and be sure to provide the best information. Find the best tools for your business. You will be able to create and manage your portfolio easily on Finscreener.
What You Need to Start Crypto Trading
Before deciding to do cryptocurrency trading, you have to prepare several things. If you are well-prepared, you can trade safely and easily. These are some aspects you need to prepare before starting cryptocurrency trading:
- Choose your exchange
Similar to the traditional exchange, you need to choose your platform first to make your cryptocurrency exchanges work smoothly. The most popular cryptocurrency exchange platforms are Coinbase, Poloniex, Bittrex, Cex, and many more. However, one thing that you need to remember is that not all exchanges receive fiat money. Therefore, you need to deposit a certain amount of cryptocurrency. To ease you, Coinbase can do it all for you only on one platform!
- Deciding the Crypto Wallet
In cryptocurrency trading, you need a place to store your assets. That is why you must own at least one wallet for your assets. Each wallet offers a different variation of cryptocurrency. Such as Jaxx that allows you to exchange with Bitcoin Cash Ethereum, Litecoin, Bitcoin, and others. In contrast, Coinomi offers up to 64 different cryptocurrencies. At the same time, Exodus provides a desktop wallet where you can store your Bitcoin, Ethereum Classic, Dash, and many more.
- Explore more information
As cryptocurrency is considered a highly-volatile asset, you need to always pay attention to market fluctuation. Before deciding to invest your asset in a certain cryptocurrency, you need to explore more about the market value by searching on the CoinMarketCap.This website allows you to know the value, volume, and lots of information about cryptocurrency.
- Utilize cryptocurrency tools to decrease the risk
Similar to fiat currency, you also need a special tool where it can ease you in calculating or predicting your portfolio. You can use Cryptoindex 100 (CIX100) to analyze and calculate your cryptocurrency through the algorithm. After the portfolio is made, you need to track your coins through Delta or Blockfolio that provides real-time exchange value and many more.