Cryptocurrency is all the rage these days. Even your grandma wants your advice on how to get in on the latest new investing trend. But how do you even get started? It’s actually not as difficult as you might think. Just like stocks and bonds, there are exchange markets for cryptocurrency where you would go to either buy a market order or futures. If you know the basics of investing then you already know the basics of cryptocurrency exchanges.
Just like stocks you can either own a coin outright or you can purchase a contract for difference, which is owning a position with a middleman or broker. In order to determine which exchange you want to use you will need to look at things like fees and currencies offered. There are exchanges like Bitfinex based in China and Bithumb based in South Korea. Some exchanges take only local fiat currency, while others take all major forms of fiat currency in order to buy digital currencies. Bitstamp doesn’t charge for deposits made through SEPA, making it an ideal exchange for European Union customers.
As with all investments you should diversify your portfolio - don’t invest in just one cryptocurrency and don’t only invest in cryptocurrency. Invest slowly in chunks instead of all at once to mitigate exposure, and don’t sell at the first sign of trouble - these markets are inherently volatile now but will become more steady as people get their bearings.
Learn more about the basics of cryptocurrency exchanges from this infographic!
Just like stocks you can either own a coin outright or you can purchase a contract for difference, which is owning a position with a middleman or broker. In order to determine which exchange you want to use you will need to look at things like fees and currencies offered. There are exchanges like Bitfinex based in China and Bithumb based in South Korea. Some exchanges take only local fiat currency, while others take all major forms of fiat currency in order to buy digital currencies. Bitstamp doesn’t charge for deposits made through SEPA, making it an ideal exchange for European Union customers.
As with all investments you should diversify your portfolio - don’t invest in just one cryptocurrency and don’t only invest in cryptocurrency. Invest slowly in chunks instead of all at once to mitigate exposure, and don’t sell at the first sign of trouble - these markets are inherently volatile now but will become more steady as people get their bearings.
Learn more about the basics of cryptocurrency exchanges from this infographic!
 - #infographic){kind=link}