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A Beginner's Guide to Cryptocurrency Trading

Key Takeaways

Cryptocurrency trading involves buying and selling digital assets with the goal of making a profit.

To trade crypto, you'll need to choose a reliable exchange, create an account, and understand key trading concepts like trading pairs and order types.

Common trading strategies include day trading, swing trading, scalping, and long-term investing (HODLing).

Traders use technical and fundamental analysis to guide their decisions. Managing risk through proper planning and diversification is essential to long-term success.

What Is Cryptocurrency Trading?

Cryptocurrency trading refers to buying and selling digital assets on exchanges for the purpose of making a profit. Unlike traditional markets, crypto markets operate 24/7, giving traders more flexibility but also exposing them to constant price changes.

There are thousands of cryptocurrencies out there, but there is a good chance you have heard of some of the most popular ones, such as Bitcoin and Ethereum. In fact, these are the names of the blockchain networks. The tradable crypto-assets are called bitcoin (BTC) and ether (ETH).