The world of cryptocurrency can be an intimidating place for newcomers. There are plenty of complicated terms and concepts to wrap your head around, not to mention the dizzying array of different currencies you need to understand to trade them successfully.
Even something as simple as buying your first few tokens can seem like a challenge. Any new industry is going to have its fair share of challenges when it comes to making it accessible and user-friendly for newbies. New initiatives often have insider terminology and structures that make them difficult for anyone who isn't already well-versed in their intricacies.
Crypto is one of those industries, but thankfully there are plenty of excellent resources out there that make it much easier than it could be. This guide will provide you with information about how to get started with crypto trading, what to do and what not to do.
What is Crypto Trading?
The simplest way to describe crypto trading is the buying and selling of cryptocurrencies and tokens. Trading crypto is different from holding coins like Bitcoin or Ethereum because you're actively buying and selling them in order to make a profit on the price changes. Trading crypto is often done through exchanges that let you buy and sell crypto using different currencies, including USD and INR, and stablecoins like USDT and USC.
There are tons of different types of trading strategies. However, there are some common ones that you'll see used by most people. These include day trading, swing trading, scalping, and long-term investing. Each of these strategies focuses on a different aspect of trading, and they all have their own unique advantages and disadvantages.
Why Start Trading Crypto?
There are plenty of reasons you may want to start trading crypto. You may have been keeping an eye on the industry for a while, and you're now ready to take the plunge into actual trading. Maybe you've seen some of the insane returns that some people have gotten by trading crypto and want a slice of that action for yourself. Whatever your reason for getting into crypto trading, here are some of the many benefits you can expect from it.
