Cryptocurrency and blockchain are expanding their application scope. There are many projects connecting blockchain with the real-sector economy, and more and more businesses aim to integrate blockchain technologies into their work processes. The main application for crypto assets is trading and investment. Due to the instability and high volatility of the digital assets market, investors get a great chance to capitalize from the smallest initial sum. Indeed, crypto trading makes it possible to multiply the insignificant initial investment by adding a few zeros to it in the shortest period of time. For that purpose, they use different crypto trading strategies and financial instruments.
Trading and Cryptocurrency
The essence of trading is buying and selling digital assets at different prices. The period between buying and selling coins varies depending on the crypto trading strategy you choose:
- Scalping strategy – a trade may last from 2 seconds to 15 minutes. That is, the time between the opening and closing position is minimum. In this strategy, traders use automated programs.
- Intraday – the position is opened and closed in 24 hours and does not last longer than one day.
- Swing – takes from a couple of weeks.
- Position trading – long-term investment, may take many months.
To start trading crypto, you should first pick a crypto asset, create a digital wallet, and buy crypto online using one of the reliable crypto platforms. Then learn the strategies and pick one suitable for yourself. Maybe intraday trading will be okay for you, or maybe you will like a more lasting strategy such as position trading. Anyway, you never know unless you try.
Where Can I Trade Crypto?
Practice is crucial for successful crypto trading. We recommend registering on the WhiteBIT crypto exchange, for it is a straightforward and transparent service with a clear interface and tool suitable for beginners. WhiteBIT offers a demo account for you to try different strategies and pick a suitable one. To make your first steps in trading, use the WhiteBIT crypto converter. It helps to buy crypto online quickly and without any problems. You just select the asset you want to get, and the currency you want to sell (it may also be fiat money), pay the fee, and click “Exchange”. To learn more about trading and cryptocurrency, welcome to the WhiteBIT blog.