B2BX Exchange / More about cryptocurrencies / A Beginners Guide To Trading Cryptocurrency

A Beginners Guide To Trading Cryptocurrency

A crash course on everything you need to know about starting to trade on a cryptocurrency exchange.

Just before we dive into this concise tutorial on the nitty-gritty of trading on the cryptocurrency exchange, let’s look at what the cryptocurrency is and how it started.

Cryptocurrencies are basically digital currencies which are used to carry out online transactions on the blockchain platform. There are various types of cryptocurrencies out there in the market; the most noticeable of them are bitcoin, litecoin, Ethereum, Ripple, etc.

The blockchain is the digital ledger that stores the verified transactions that occur. This is an immutable ledger which is stored on the peer-to-peer computer network.

So how did it all begin? Well, for the longest time, the thirst for a decentralized system has been in demand. A system that is not controlled by any central authority and could run on a trustless but at the same time transparent platform. Then Satoshi Nakamoto, in 2009, invented the most popularly known cryptocurrency on the blockchain, Bitcoin.

Since then the growth and development of the cryptocurrency and blockchain platform have been increasing as the day drags by. It is also interesting to point out to you that the key feature of these cryptocurrencies and the blockchain is the impressive feature they provide. These features include security, anonymity, globalization of transaction, instantaneous transaction, transparency, etc.

So now you can be rest assured of the security and transparency this platform provides. Now, we graduate to what is described as the cryptocurrency wallet and the cryptocurrency exchange. Well if you know what you are doing and understand more than one platform for trading. Then you could manage multiple exchanges just like the traditional exchange.