Investing in the cryptocurrency market space can be a bit difficult for a traditional investor, as investing directly in cryptocurrency (CC) requires the use of new tools and the application of new concepts. So, if you decide to dive into this market, you should have a really good idea of what to do and what to expect.
Buying and selling CC requires you to choose an exchange that trades the goods you want to buy and sell, whether it’s bitcoins, light buys or one of more than 1,300 other tokens in the game. In previous releases, we have summarized the products and services available at certain shows to give you an idea of the various offerings. There are many scholarships to choose from and they do everything their own way. Look for things that are important to you, such as:
Deposit policy, methods and cost of each method
Withdrawal policy and commission
- What fiat currencies they trade for replenishment and withdrawal of funds
- Products they sell, such as cryptocurrencies, gold, silver, etc.
Transactional costs
Where is this exchange based? (US/UK/South Korea/Japan…)
Be prepared for the fact that the Process of Installing Exchange will be detailed and lengthy, because exchanges usually want to know a lot about you. It’s like opening a new bank account because exchanges are securities brokers and want to make sure that you’re who you call yourself and that you trust people. It seems that “trust” is earned over time, as trading usually allows you to start only with small investments.
Your Exchange keeps your CC in storage for you. Many offer “cold storage,” which simply means that your parts stay offline until you indicate that you want to do something with them. There are quite a lot of reports about hacked exchanges and a large number of stolen coins. Remember that your coins are in something like a bank account on the exchange, but remember that your coins are only digital and all blockchain transactions are irreversible. Unlike your bank, these exchanges do not have deposit insurance, so keep in mind that hackers will always do anything to get your crypto-coins and steal them.
Because hackers love to hunt exchanges and your account, we always recommend that you use a digital wallet for your coins. Moving coins between an Exchange account and a wallet is relatively easy. Make sure you choose a wallet that handles all the coins you want to buy and sell. Your wallet is also a device that you use to “spend” your coins from sellers who accept CC payments. Two types of wallets – “hot” and “cold.” Hot wallets are very easy to use, but they leave your coins visible online, but only on your computer, not on the Exchange server. Cold wallets use standalone data carriers such as specialized memory cards and simple paper printing. Using a cold wallet complicates transactions, but they are the safest.
Your wallet contains a “closed” key that allows all transactions you want to initiate. You also have an “open” key shared on the network so that all users can identify your account when they are involved in a transaction with you. When hackers get your private key, they can move your coins anywhere and it’s irreversible.
Despite all the problems and insane volatility, we believe that the underlying blockchain technology is changing the rules of the game and revolutionizing the way transactions are done in the future.
If you are willing to make speculative investments in this revolutionary technology and want to receive all current and future recommendations of Crypto TREND Premium, we will keep our special early Bird program open a little longer to give our readers a chance to get started. At a discount of $175. Stay in touch!