Bitcoin trading for beginners

Bitcoin trading for beginners

Bitcoin trading for beginners, digital currencies are virtual currencies that do not exist on the ground, that is, they are only electronic, but despite this, it enjoys acceptance by its users around the world, and this made it a distinct price value.

The price value of it may be exacerbated by the price value of the base local currency that is dealt with, and this is according to the price value of each digital currency separately.

What makes these currencies acceptable is that they are encrypted, have limited productivity, and their trades are subject to complex algorithms that are difficult to copy, or imitate, and thus be safe when dealt with by their users.

What are the types of digital currencies?

There are more than a thousand types of cryptocurrencies, collectively known as altcoins, and both Bitcoin and Ethereum are among the largest types in this market, as Bitcoin represents about 38% of the digital currency market, and Ethereum 18% of the digital currency market.

Bitcoin is traded, but it may be less popular than its previous counterpart on the stock market, which includes Litecoin (LTC), Dash (Dash), Zcash (ZEC) Monero (MXR), and Ripple (XRP).

Ways to trade digital currencies

Through stock exchange

Just like foreign currencies that can be traded in forex trading, digital currencies can be traded with this mechanism, as it is possible to wait for the daily or weekly fluctuation that occurs on their price value and then exploit the rise and fall of the price value by buying or selling the currency.

Trading through a broker

By resorting to a forex broker who has access to the stock exchange, and provides you with a trading platform to manage your trading from it, you can start your investment with him on cryptocurrencies with ease, without the need for a great experience in the world of trading, it just needs to learn the basics, and then You can buy and sell digital currencies depending on the deal that you find suitable for you.

Via futures contracts

Here, digital currencies will be traded at a specific price with a future delivery time, which is also known as derivative contracts, and this is because the value of the financial instruments that are traded, regardless of their types, are derived from another class of assets, and in which the two parties are made on the date of sale and purchase in advance. But with a postponed date.

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