Are you new to the cryptocurrency scene and want to learn how to make trades? If so, the process is much easier than you think. Having said that, making a mistake with the wrong encryption trading order can be fatal – so this guide is a must read with Meme Token.
Within it, we go through the whole process of how trades are placed in a high-end cryptocurrency broker in a risk-averse manner. This includes not only buying and selling positions, but also risk management orders.
How To Invest In An Encryption Broker – A Quick Guide
If you have a finger on your pulse and want to place your first cryptocurrency right now – follow the Quick Start Guide below.
Choose the most popular encryption r: In order to place trades, you must first find a suitable broker. eToro is a good option for beginners as the platform offers a lot of digital currency markets at very low fees. In addition, the platform is really easy to use.
Open an account : You must open an account with the cryptographic broker of your choice. Simply follow the on-screen instructions to enter your personal and contact information.
Deposit Funds: Needless to say, you need to deposit money before you can start trading. For example, eToro supports debit / credit cards, Paypal, Neteller, bank transfers and more.
Search Encryption : You can now search for the encryption currency you want to trade in.
Leave a trade : Finally, you must choose a buy or sell order to place a trade – depending on whether you believe the value of the cryptocurrency will rise or fall.
And that’s it – you’ve just invested in your first cryptocurrency! However, there is a lot to discuss before trading in real capital – especially when it comes to risk management. As such, we recommend that you continue reading this guide before proceeding.
Step 1: Select a platform for the encryption transaction
The first – and perhaps most important step in learning how to place stores is to choose the right platform. Otherwise referred to as a broker or exchange, cryptocurrency platforms sit between you and your chosen market. In other words, whether you want to trade on Bitcoin, Ethereum, EOS, Cardano or any digital currency – you need an intermediary to execute your order on your behalf.
When choosing the best platform for encryption to trade – you need to distinguish a number of important metrics.
Security: Most cryptocurrencies are unauthorized, which is why we recommend using a regulated broker. This will ensure that you are able to trade in a secure, fair and transparent environment. Some of the most reputable financial institutions that license regulated cryptocurrencies are FCA, ASIC, and CySEC.
Markets: If you want to learn how to invest, you also need to think about which cryptocurrencies you want to speculate on. For example, if you want to exchange Ripple for the U.S. dollar – you need to make sure the platform supports XRP / USD. We will cover cryptographic pairs in more detail later.
fees: When you make trades with the cryptographic broker of your choice, you will be charged a fee. This can take the form of a trade fee multiplied by the size of your bet. Some platforms, such as eToro, AvaTrade, and Capital.com, allow you to trade digital currencies for free. Instead, it is just a cover spread.
payments: Another disadvantage of using unregulated cryptocurrency exchange is that you do not have access to fiat currency exchange services. Instead, you need to fund your account with digital assets. Because regulated platforms have a legal role to accept fiat cash deposits – you can often choose from a debit / credit card, e-wallet or bank transfer.
Features and Tools: It is also important to make sure that the platform provides tools and features that can enhance your trading experience. For example, if you are a beginner, you will need access to study materials, a demo account, and even a copy shop. If you are an experienced merchant, you will need technical indicators, advanced order types, and price charts.
As the checklist above shows, choosing the best broker to place a trade can be time consuming and cumbersome. With that in mind, below we take a look at the best platforms currently on the market.
- eToro – Top Rated 0% Commission Trading Platform
Toro is a state-of-the-art online broker that allows you to easily place cryptographic transactions. It takes minutes to get started, and you can deposit funds instantly with a debit or credit card, e-wallet, or bank transfer. You have access to numerous cryptocurrencies – including everything from Bitcoin, EOS and Ripple to Cardano, Uniswap and Chainlink.
All eToro digital currencies can only be traded on a decentralized basis – meaning you get the lowest fees on the market. The minimum trade for the entire encryption site is just $ 25 – which is ideal for beginners who want to start with small amounts. As soon as you trade in eToro – encryption assets will be added to your portfolio. You can withdraw money at any time with the push of a button.
With eToro, you can also trade stocks, currencies, indices, commodities and more. You may also want to consider using a copy shop tool that allows you to invest passively. This is because your orders reflect those of the merchant you choose. eToro is regulated by three financial institutions – including the FCA, CySEC and ASIC.