After having series of lectures today, I was on my way back to the house, and while I was waiting for a taxi to take me home. I saw one of my friend who is a very good cryptocurrency trader and we got talking about the cryptocurrency market and how some coins have done so well in the past months.
Beside us were two girls having their own conversation, it happened that my friend knows one of the girls, so we had to say hi to them as we were about to part ways.
We all exchanged pleasantries, and one of the girl said she overheard us talking about all these online nonsense, that we should stop wasting our time.
I had to laugh out loud; It was obvious she spoke out of ignorance, and for that fact, she needed to be schooled which we took upon ourselves.
After what seems like 10 minutes, we left them happy and fulfilled.
I will also want you to feel the same way by educating you all today on what you need to know about Trading Cryptocurrency.
Let's cut to the chase.
Cryptocurrency is a digital currency which, just like other currencies, can be obtained. With goods and services, one can exchange this currency. What if I told you that dollars are traded for cryptocurrencies?...and you can also trade it for other cryptocurrencies.
Does it sound like something you will like to be part of? If your answer is YES, then this article was written specifically for you.
How does one obtain or trade cryptocurrency?
Trading is generally executed via brokers and exchanges. Brokers are intermediaries that buy/sell cryptocurrency; Exchanges are digital marketplace where one can trade cryptocurrencies for other assets, such as conventional fiat money or other digital currencies, they are like online stock exchanges.
One can also trade cryptocurrencies directly between peers. Peer-to-peer exchanges can be mediated by a middleman, or not.
Please be aware that cryptocurrency prices tend to be volatile. One ought to get a proper knowledge about how to trade cryptocurrencies before venturing in. With the right knowledge, you will definitely make a whole lot of money but on the flip side, you can lose all your money.
Trading is more like a business and it should be treated as one; Who starts a business without an actual knowledge of what he/she needs to put in place?
Absolutely no right?; I know a whole lot of traders doing for very well in the space today, but they invested hugely in knowledge before they got to where they are.
If you're reading this piece and you're interested in trading, there's a need to do the needful if you must be successful.