A must-know for beginners! The basics of cryptocurrency trading
In the field of digital currency, which is full of charm and risks, if you are a beginner, don't worry. Today, I will tell you the basics of cryptocurrency trading and get you started!
First, we have to figure out what digital currency is. Simply put, digital currency is a kind of virtual currency based on the Internet, such as Bitcoin and Ethereum, which are often heard of.
So how to buy and sell digital currency? This requires the use of digital currency exchanges. Just like there are stock exchanges for buying and selling stocks, digital currency also has its own trading platform. However, it should be noted that it is very important to choose a regular and reliable exchange, otherwise you may lose all your money!
Next, let's learn about "wallets". This is not the wallet we usually use to store money, but a tool for storing digital currency, which is divided into hot wallets and cold wallets. Hot wallets are convenient but slightly less secure, while cold wallets are safer but relatively complicated to operate.
Let's talk about the "K-line chart", which is an important reference for cryptocurrency trading. Through the K-line chart, we can see the price trend and help us make buying and selling decisions. For example, a positive line indicates a price increase, and a negative line indicates a price decrease.
Another important point is that the risk of cryptocurrency trading is huge! The price fluctuations are so thrilling that it is not uncommon for the price to rise or fall by tens of percent in a day. Therefore, don't blindly follow the trend. The funds you invest must be what you can afford to lose.
Let me give you an example. There is a friend who is a novice. He rushed in without knowing anything at the beginning, and ended up losing a lot of money. Later, he studied the basics carefully and slowly got on the right track.
In short, as a novice, if you want to make a living in the world of cryptocurrency trading, you must first learn these basics and move forward cautiously, so that you can have the opportunity to gain wealth!
