Cryptocurrency Trading for Beginners


Before you select a broker and try out various exchange/ trading platforms, there are a few forthright things to get your cranium around first. Understanding and tolerant of these three things will give you the best chance of succeeding when you step into the cryptocurrency trading field.
Find out what’s growing – Bitcoin, Ethereum and Litecoin top the list for tradability and ease of use. However, there are also Zcash, Das, Ripple, Monero and several more to keep an eye on. Do your homework and find out what’s on the up and focus your attention there.
Embrace volatility – Cryptocurrencies are superbly volatile. The price of Bitcoin, for example, went from $3,000 down to $2,000 and then leapt up to nearly $5,000, all in three months in 2017. While this means risk is high, it also means the potential for profit is great too. It’s always sensible to check the volatility of the exchange you decide to go with.
Understand blockchain – You don’t need to understand the technical complexities, but a basic understanding will help you respond to news and announcements that may help you predict future price movements. It is principally an incessantly growing list of secure records (blocks). Cryptography safeguards the interactions and then stores them publicly. They aid as a public ledger, cutting out mediators such as banks.
These are all the points that you need to know if you are just beginning cryptocurrency trading with your XcelToken Plus.
XcelToken Plus is an ERC20 token on the Ethereum Blockchain Platform that is fashioned to build, involve and foster a large crypto-community within the hospitality, retail and gaming sectors. XcelLab is delighted to announce that XcelToken Plus will now be available for trading on 14 perfect cryptocurrency trading platforms.

Comments

Post a Comment

Popular posts from this blog

Understanding Liquidity

Image
The concept of  liquidity   has many facades to it. One way to define liquidity is “the ability of an asset to be converted into cash readily on demand”. An additional way of viewing at it is when any asset can be bought or sold at its fair price. Liquidity thus means that there aren’t discounts or bonuses devoted to it during buy or sell and it’s easy to enter and exit the asset. It is believed as more of an item is accepted and sold, the chances of charging premiums or giving discounts lower and such an asset usually trades around ‘what it is worth’. The forex market is often defined as a liquid market with an average turnover of more than $5 trillion daily as of April 2016 according to the Bank for International Settlements (BIS) while real estate is a classic example of an illiquid asset. Property as an asset is less liquid, requiring huge investments into physical form, monotonous procedures and smaller market.  Liquidity is significant for any tradable  asset , wh
Read more

5 Places to Visit in Reykjavík

Image
The capital of Iceland is a young, culturally happening city, as well as a launch pad for natural wonders that people dream of seeing their whole lives. Like any cool spot Reykjavík is also constantly reinventing itself, as you can see at the Grandi Area by the Old Harbour. Here fish packing factories have been turned into sharply designed visitor attractions, while creative murals coat the walls and cutting-edge Nordic restaurants have opened. The waterfront was chosen for the cultural venue, Harpa, a monument for 21st-century Reykjavík with a mesmerising facade by Ólafur Elíasson. You could stay in Reykjavík’s cosy embrace or stride out to visit the volcanic marvels in the Golden Circle and see whales in the Faxa Bay in summer. Hallgrímskirkja: Both a parish church and Iceland’s national sanctuary, Hallgrímskirkja is an ever-present feature of Reykjavík’s skyline. Conceived in the early-1940s by Guðjón Samúelsson, the church was 41 years in the making and was finally con
Read more

Weekly News Overview: Cryptocurrency

Image
Email Extortion Scam Targets Googles AdSense A new extortion scam targeting website owners serving banner ads through Google’s AdSense program has begun circulating the Internet. The malevolent scheme demands Bitcoin (BTC) in exchange for preventing an attack, which would purportedly lead to the users’ AdSense account suspension. The email-based extortion scheme was reported by security news and investigation blog KrebsOnSecurity, on Feb. 17. The blog post detailed that some site owners received a message as their site had been spotted by the malicious program as one seeking revenue from publishing an ad. Coinbase Pitches Crypto As A Solution For Racial Discrimination To mark Black History Month, Coinbase has launched an advertising campaign with the pitch that cryptocurrencies can help tackle racial injustice in the financial sector. As part of the campaign, the exchange published a blog post on Feb. 13 with the results of a survey it conducted in
Read more