Find the best places to access cryptocurrency markets.
What is Cryptocurrency.
Cryptocurrencies are digital financial assets that each tend to serve a specific purpose such as being a store of value, providing anonymous transfers of value, allowing for programs to be built on top of them and providing access to certain features on web platforms.
There are currently over 2,000 different cryptocurrencies, with the most well-known and oldest being Bitcoin.
Cryptocurrencies may be purchased and traded on platforms known as exchanges, which provide similar functionality to platforms that have allowed users to trade stocks and other financial assets for the past 20 years.
There are hundreds of cryptocurrency exchanges operating today, as well as a large number of other methods for purchasing and selling cryptocurrencies. These including cryptocurrency brokers and peer-to-peer networks such as Localbitcoin.
When handling cryptocurrency, digital wallets are used to store and transfer funds with others. Hardware wallets such as those produced by Trezor and Ledger provide you with a secure means to store your cryptoassets.
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Best Practices When Trading Cryptocurrency.
Although there are many stories of malicious parties targeting cryptocurrency users, the vast majority of those who purchase and own digital assets never encounter these issues.
Saying this, there are some important considerations for anyone new to dealing with cryptocurrency, which should be considered best practises in order to protect your funds:
  • Always use reputable platforms to purchase and trade cryptocurrency, and avoid sites with little or no pre-existing customer-base and reputation.  We list sites here that we have used previously and that have daily market caps of up to $1billion per day.
  • For smaller amounts of cryptocurrency, using software wallets may suffice.  However, if you intend on trading amounts that you want to be particularly vigilant about then making use of a hardware wallet can mitigate against some common risks.
  • In general, avoid anyone that promises returns on investments through their system.  This includes crypto MLM programs, “expert” traders that randomly reach out to you and anyone else that promises 300% ROI within a week (for example).  Trust only those in the industry who have strong reputations and aren’t promising you get rich quick schemes.
Copyright BitcoinSocially 2019.