[Crypto] How to Trade Cryptocurrency?

You want to dive into the World of Cryptocurrency, but don't know what Cryptocurrency Trading is? If you're a beginner who wants to try good and correct trading, you're on the right article.

Things to be discussed:

Trading? What is that?
Centralized
Decentralization
Preparation before buying Coin

Trading ? What is That ?

Trading is the activity of conducting crypto asset transactions: buying, selling, sending, exchanging fiat to crypto coin.

In fact, just like trading on the foreign exchange market, fiat currencies are exchanged to other fiat currencies around the world. The difference is in cryptocurrency trading everyone can do minning activities to acquire crypto assets.

With the condition of understanding will rely on technical knowledge and a stable Internet network.

Read : [Crypto] How To Sell Bitcoin

How to Trade Cryptocurrency?

If you want to Trade, you need an Exchange or Platform to exchange crypto.

There are 2 categories that you should know when exchanging cryptocurrencies. That is centralized and decentralized.

Centralized

Centralization is the exchange of Cryptocurrency currencies through centralized Exchanges, meaning a place to store and exchange Crypto such Bitcoin or Other Coin Assets.

An example of a Centralized Exchange is Binance. Centralization exchanges such as Binance have a low risk of losing assets due to loss of password or loss of private key.

The downside of Centralization is that it is vulnerable to password hacking. So, you have to be smart to choose a place that has a reputation for high and good security standards.

Decentralization

Decentralization is the opposite of Centralization, decentralized system offers privacy security so that it is not vulnerable to identity hacking. Not even anyone else will know your identity.

In decentralization system, trading becomes automatic plus peer-to-peer system with support by Smart Contract System.

Powered by a Decentralized Platform, you get full control of managing assets and securing them.

The downside is that when you forget the private key, you won't be able to access it anymore, meaning you'll lose assets and can't access them anymore.

Read : Ether(ETH) Or Ethereum is what ?

Preparation before buying Coin

The first thing to prepare is to do research, the reason is because crypto coins are many types and the price of volatility of each coin varies, research can use analysis of the history of the coin.

In addition to looking at the history of the coin, you can also see news sites or forums that discuss price predictions and coins. Because the background of the coin is very important as the fate of your digital assets. After buying, it's a good idea to always check the price every week or every day.