In the world of cryptocurrencies, there are thousands that one can use. CoinMarketCap, the largest database of coins and tokens with their market capitalization lists nearly 1600! Each coin or token is developed for a specific platform or a purpose in mind. Though most of these are based on Blockchain, there are a few which’s underlying principle is a different type of distributed ledger.
The fluctuating prices and the simple need of tokens and coins to transact create the need of trading of these digital monies.
Crypto Trading
Cryptocurrencies, just like normal forex, are traded on platforms. Liquidity providers in Forex are easy to find, but crypto trading is different. These digital global exchanges are normally called Crypto Exchanges. People wishing to exchange tokens and coins can go to these website based platforms to acquire their desired digital money.
The first stage is to get registered on a crypto trading platform. There are a number of exchanges on the internet, each with its own specialty and drawbacks. You should select one that allows fiat deposit and withdrawals for your bank or credit card, has a high level of security, good amount of trading pairs and low fee.
Once you have selected and registered on your preferred exchange, you should invest some money to buy initial coins or tokens. The cryptocurrency will be available in your exchange wallet after confirmation of fiat deposit. Alternatively, if you already do possess a cryptocurrency that the exchange accepts, you can transfer it directly to your exchange wallet.
With cryptocurrency in your wallet, you can now go to the exchange platform and buy and sell different currencies. Digital coins have a very high rate of fluctuation so you can take advantage of it. When a specific token is trading cheaper, one can trade for it with his or her coins. As the value rises, you can sell it to gain money.
There will arise a time where you need to convert your crypto assets into cash. If the exchange of your choice has a fiat withdrawal option, you can use it to convert your gains into fiat.
Trade.io
Trade.io is a Blockchain startup decentralized crypto exchange that is designed to offer the maximum of services to crypto traders. Not only is it secure, but efficient, has very low trading and processing fee, accepts fiats as deposits and lets you withdraw in one too.
The crypto exchange allows for seamless and easy trading for beginners, while giving more vast options to experienced ones. With its multiple services and advantages, it is going to be the go-to-exchange in the future.
