Within this article, you will learn how investing in cryptocurrencies work, and how to buy or sell Bitcoin as well as other alternative cryptocurrencies such as Ethereum and CoinField Exchange’s token, CoinField Coin.
Introduction to Cryptocurrency
By definition, Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generations of the unit of currency and the transfer of funds operating independently on the blockchain. Cryptocurrency transactions are verified and securely stored in a public digital ledger known as the blockchain. Bitcoin became the first decentralised Cryptocurrency in 2009.
Investing in cryptocurrencies requires good thought. Most traded cryptocurrency Bitcoin, processed on a single day, reached its highest value at the end of 2021, and the market cap was $1.23 trillion.
A Cryptocurrency is a coin created through a process known as mining. Mining is the process of adding past transactions to the blockchain. You can think of the blockchain as a physical chain where each chain link is a transaction. The more transactions, the longer the chain and the stronger the chain becomes and every single bitcoin transaction that has ever happened is recorded in the blockchain.
Cryptocurrency was created during the 2008 global financial crisis. It gives the option to people to control their money themselves, without relying on companies, banks, or governments and their fees and controls.
Cryptocurrency & Blockchain Technology
The blockchain is completely decentralized so that no government controls it, no company, no countries, no borders. The potential of a decentralized currency is limitless. Once you begin mining and investing the cryptocurrencies, it helps grow the blockchain. Blockchain helps to revolutionize the way the world operates. It starts with the currency, but there’s so much more that we can benefit from this technology.
How to Buy and Sell Bitcoin and Other Alternative Cryptocurrencies?
All right now, you understand how currencies work now it is time to begin. Remember, Bitcoin is not the only Cryptocurrency that you can trade. Starting with smaller capital, you could look into alternative coins, and there are thousands of different altcoins. According to CoinMarketingCap, altcoins has roughly 40% market share. This means there are thousands of other currencies being exchanged daily.
Let’s take a closer look at what altcoins are
Now you’ve learned about blockchain and cryptocurrencies next step is to begin your trade!
Go to CoinField.com and click sign up, fill in your email address, create a strong password, agree to the terms and conditions, then click sign up one more time.
Now you can access the platform, please go to settings, upload your ID, approve of address, and a selfie, and the system will check immediately.
Once your account is verified, you can begin your trade. Fund your account, select “Wallets”, then “Transfer”, and Deposit the FIAT or Cryptocurrency of your choice.
Once you’ve funded your account, click on the ‘’Trade’’and, go to the ‘’Advanced Trade’’ then ‘’Select Markets’’ and choose your preferred trading pairs.
Click ‘’Buy or Sell’’ and enter the order details and hit the ‘’Place Order’’ button and review your order details and click ‘’Confirm’’.
How Much Should You Invest If You Are a Beginner?
Before starting, ensure you’ve done good research and select platforms that work for you. Understand how to trade and not allocate all 100% of your money to buy coins.
Learn about your risk tolerance and adopt more trading strategies that are suitable for you. All investments involve some level of risk, and the market moves up and down. This means you must understand the personal risk tolerance you feel comfortable with and how much volatility you can handle. Diversify your portfolio, and don’t put all eggs in one basket.
If you are new to crypto and looking for simple steps to start, you can begin trading cryptocurrency with CoinField with a minimal deposit of only $100 equivalent.