How To Trade Cryptocurrency – A Beginner’S Guide
As you can see from the above, learning how to trade cryptocurrency isn't overly difficult.
However, in order to be a successful cryptocurrency trader that makes consistent keuntungans, you need to have a firm grasp of how this pasar works. As such, we would suggest that you read this guide in its entirety before proceeding.
Where to Trade Cryptocurrency
As a beginner, it is crucial to understand the importance of choosing the right crypto exchange or broker.
After all, the platform will give you direct saluran to the cryptocurrency trading markets, so you'll want to consider faktors surrounding fees, supported pairs, tools, akun minimals, and of course - safety. For those wondering how to invest $1000, the crypto pasar has been a terkenal choice amongst avid digital asset investors in the last few years.
If you're still wondering where to trade cryptocurrency online - consider the platforms that we have ulasaned below.
1. eToro - Overall Best Place to Trade Cryptocurrency
We found that eToro ticks all of the right boxes and thus - this provider is the overall best place to trade cryptocurrency in 2022. eToro is a regulated online broker that is approved to operate in the US. It holds licenses with various tier-one bodies - which is inclusive of the FCA, ASIC, and CySEC.
As such, you can be sure that you are trading cryptocurrency in a fair and legitimate environment. This top-rated broker requires just $10 to get started with an akun - and the registration process takes less than five minutes. We also like that you have various payment options to choose from at eToro. Ever wondered how to day trade cryptocurrencies? Read our guide on the best scalping brokers to find which trading platforms offer the tightest spreads and fastest execution times.
This includes Visa and MasterCard payments, e-wallets like PayPal and Neteller, and ACH. All deposits and withdrawals that are buatan US dollars are gratis. In terms of supported markets, eToro is home to dozens of leading cryptocurrency assets including the best utility tokens. For instance, you can invest in Bitcoin, Ethereum, Dogecoin, Shiba Inu, Litecoin, YFI, Cardano, and BNB.
You will also find a variety of DeFi coins and metaverse crypto tokens, which is inclusive of Decentraland, The Sandbox, The Graph, AAVE, Compound, Uniswap, Chainlink, and SushiSwap. Best of all, each and every cryptocurrency hosted by eToro can be traded against the US dollar. As such, you won't need to trade pairs that contain a stablecoin like Tether.
When it comes to fees, eToro offers a very sederhana and competitive pricing structure. In a nutshell, you will pay just 1% above the current bid/ask price for the cryptocurrency pair that you are looking to trade. We should also catatan that eToro offers copy trading tools. For those unaware, this enables you to copy the buy and sell positions of a successful cryptocurrency trader.
In other words, you can actively trade the digital currency markets without needing to do any research or place any orders. Another opsi you have - should you wish to trade cryptocurrency passively, is to invest in an eToro smart portfolio. These give you saluran to a diversified basket of assets through automated trading and there are several smart portfolios that fokus exclusively on cryptocurrency.
Another superb fitur that we came across when ulasaning the eToro platform is that it offers free demonstrasi trading accounts to all of its customers. This means that after you sign up, you can trade the cryptocurrency markets risk-free - as eToro will preload your demonstrasi akun with $100,000 in paper money. This is a great tool for beginners to learn how to trade cryptocurrency.
You might also like the eToro crypto app for iOS and Android. This allows you to trade cryptocurrency on the move, cek the nilai of your portfolio, deposit/withdraw funds, setting pricing alerts, and much more. Finally, eToro also enables you to invest in thousands of commission-free stoks and ETFs - should you wish to diversify your cryptocurrency trading portfolio.
2. Crypto.com - Trade 250+ Cryptocurrency Markets With Low Fees
The next platform to consider when learning how to day trade crypto is Crypto.com. Launched in 2016, Crypto.com is one of the most terkenal exchanges in this ruang - not least because it offers a regulated and low-cost environment for traders of all kesanggupan sets. In keseluruhan, Crypto.com is home to over 250 digital currencies.
This includes everything from meme coins, DeFi tokens, stablecoins, and large-caps like Bitcoin and Ethereum. Having saluran to such a large library of markets is highly conducive for trading crypto - as you will never be short of investment opportunities.
Crypto.com also stands out for its low-fee kebijakan. The most you will pay to trade cryptocurrency here is 0.40% per slide. You can reduce your commission by staking CRO tokens, which is the digital currency backed by the Crypto.com platform. Further discounts are on offer when you trade larger amounts throughout the month.
3. Binance - Low Fee Exchange to Trade Cryptocurrency Pairs
The selesai exchange to consider when deciding on where to trade cryptocurrency is Binance. This platform is cantik for those of you that are browsing for an exchange that offers huge liquidity levels and plenty of trading markets. In fact, Binance attracts tens of billions of dollars in volume each and every day.
If you're based in the US, you will have saluran to 80 cryptocurrencies. Otherwise, if using the global Binance web, then this extends to over 600 cryptocurrencies and 1,000+ markets. To fund your Binance akun, you can deposit money melalui ACH or a domestic bank wire fee-free.
Debet and kredit card payments are accepted too, albeit, US clients will pay 4.5% in fees plus an instan buy commission of 0.5%. When it comes to kriteria trading commissions - this is where Binance really stands at. This is because you will never pay more than 0.10% per slide. By holding BNB - the native token of Binance, or trading large volumes, lower commissions are offered.
Binance is also terkenal for its fully-optimized mobile trading app for iOS and Android. As the app connects to your main akun, you can buy and sell digital currency pairs on the move. In terms of penyimpanan, your Binance doubles up as a crypto wallet. You can also unduh the Kepercayaan Wallet - which is backed by Binance, should you require a non-custodial penyimpanan pilihan.