In the 21st century use of technology is at its peak. From shopping to banking, everything is becoming technology-based and going digital. One such revolutionary invention is cryptocurrencies in the decentralized currency space.
Crypto is a digital currency based on blockchain which can be traded and used to buy goods and services depending on the rules and regulations of that particular country. Cryptocurrencies are traded on crypto exchanges like stocks or any other financial assets.
If you also want to explore this space, you can start crypto trading by learning it from the cryptocurrency course offered by various e-learning platforms. Read this article to know more.
Crypto is a digital or virtual currency that uses cryptography to secure its transactions. It’s not like physical money so you don’t have to carry it with you. There is no central authority regulating cryptocurrency. A decentralized system called blockchain technology is used to record the transactions and issue new units on the public ledger.
Cryptocurrency is stored in a digital wallet. Advanced coding is used for functioning cryptocurrency. Some of the popular cryptocurrencies are Bitcoin, Ethereum, Litecoin, Ripple, etc.
Well, enough on the basics, let’s see how you can learn to trade this digital currency.
Just like the stock market, you can also trade in cryptocurrency and earn profits. A beginner shall follow the below-mentioned steps to start crypto trading.
The first step for a beginner in crypto trading would be to learn the basics of crypto trading. An e-learning platform like Upsurge offers cryptocurrency courses. You can select the course that suits your requirement and start learning about crypto trading.
It has just been over a decade since cryptocurrency came into existence. So proper research shall be conducted about crypto markets before you start trading, which includes its history, past prices, volatility, etc.
Due diligence is a must along with knowing the rules and regulations of the government to enter this space. Thus, you must conduct proper research to go further with crypto trading.
You can gain a lot of knowledge about cryptocurrency by reading blogs and articles. The majority of the crypto exchanges publish blogs related to cryptocurrency. You can read that and increase your knowledge about cryptocurrencies.
Books are also a good way to start learning about crypto. Some good books that you can read to enhance your knowledge about cryptocurrency are “The Truth About Crypto” by Ric Edelman, “The Basics of Bitcoins and Blockchains” by Antony Lewis, “The Age of Cryptocurrency” by Paul Vigna and Michael J. Casey, etc.
Various learning centers and crypto exchanges conduct offline classes on crypto basics. The fees for this course are quite nominal. You can attend this offline in-person course and learn about crypto trading.
Based on your research, you need to frame a proper strategy before you start trading in crypto. You can also practice your trading strategies on a stimulator to know where you stand. Once you gain confidence, start trading in the real market.
More than 20,000 cryptocurrencies are available in the market. You need to select the one which has shown good performance in the past and has been in the market for a long time and has a proven track record such as Bitcoin and Ethereum.
Crypto is a new-age investment option that can give you high returns if you have performed the needed due diligence. Hope this article helped you understand how you can start learning crypto trading as a beginner. To learn more, you can enroll in an online crypto course offered by Upsurge.