Cryptocurrency Facts | How to Make Money Trading Cryptocurrency
A cryptocurrency simply put is a digital asset serves as work as a medium of exchange which uses cryptography to secure transactions carried out on a blockchain network.
A few years ago, Marshall McLuhan coined the term “The World is a Global Village” in his book The Gutenberg Galaxy: The Making of Typographic Man and since then, people have continuously used this term and so many technological enhancements have been made to prove that indeed, the world is global village till the birth of cryptocurrency.
Haven said that, please permit me to take this a little bit farther to say that the birth of cryptocurrency has actually brought the world a bit closer than a global village to what I prefer to call a global family because cryptocurrency has actually taken out the village heads and the community chiefs and has given more power to the children within the family to communicate more effectively with little or no restriction.
Although the new global family depends on the power of the global village “telecommunication” it’s abilities has no limits as more altcoins (Other cryptocurrencies outside bitcoin) make their way into the cryptocurrency market with the mindset of solving more real-world problems using the power of the blockchain network.
As more altcoins join this game of changing the world with blockchain, they carry a lot of waves around and the coins with the ability to solve real-world problems leave more marks on the roadmap while making cryptocurrency entrepreneurs more happy as they add to the figures in their pockets and bank accounts.
How to Make Money Trading Cryptocurrency
The cryptocurrency has turned the world into a global family as I already said but in this family, there are the fathers and mothers who make things happen and the kids who obey the instructions of their parents. but the big question is; who are these parents in the cryptocurrency family?
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The parents here are the cryptocurrency founders, exchangers and every other group of people who contribute to the listing of these coins in the marketplace.
As a cryptocurrency trader, your game is to look out for the best coin offered by the exchange and find out what the coin really has to offer in the real world and who is behind the project before making your decision.
A good place to start your research is coinmarketcap.com and other cryptocurrency forums like cointalk.com.
After a good research, the next thing is to buy the coin and this requires the use of the exchange market.
List of Cryptocurrency Exchangers
Bitrrex is a trusted exchanger with a very simple and easy to navigate website with multiple altcoins listed daily. On bittrex, you can buy any coin of your choice and sell them when the coin appreciates in value.
Cryptopia is a great place to start for every new trader in the altcoin business world with new coins added from time to time. In cryptopia, you can buy and sell different altcoins just like in bittrex but bittrex has more collections of coins
Binance is a great place for experienced traders because of the complex nature of the binance website although they have a good collection of altcoins their site is not too easy to navigate for a novice or a new biz who is yet to fully understand the market.
There are other exchanges out there but I will advise you try these ones for starters.
After registering with any of the above exchange, you have to fund your account using bitcoin, Etherium or any other coin accepted by the exchange after that, you can start buying different coins from the market on the exchange and sell them later then the coin appreciates.
Thank you for reading Cryptocurrency facts, I will be doing a more detailed post on how to make money trading cryptocurrency later but for now, do try your hands on the sites mentioned here because we are going to use one of them later. Please do share this post with your friends and don’t forget to subscribe to our newsletters.