It is necessary to trade cryptocurrency only after a proper understanding of the crypto world. It is recommended that novices must do their homework before investing their funds in crypto. Cryptocurrencies are highly volatile and it is difficult to predict their price. There is a reliable bitcoin trading platform that can help experienced and novice traders trade with ease, click here to visit site .
The huge profits in the currency circle are making multi-millionaires every day, and on the other part, many investors have lost their homes. What exactly is cryptocurrency? Why does Buffett hate cryptocurrencies, and charlie Munger criticizes “bitcoin is disgusting”? If you are too messed up with these questions, it’s time to get yourself lined up with a beginner’s guide to cryptocurrencies.
So cryptocurrencies are a digital form of currency, unlike traditional currencies that have physical paper money that can be seen and touched. Moreover, in the process of trading, it will be encrypted, ensuring that the owner of the currency can smoothly trade in an anonymous form and transfers the currency through an exchange.
How do you invest in cryptocurrencies?
Want to invest in cryptocurrencies? There are now more options available for cryptocurrency trading. There are the following ways to invest in cryptocurrencies.
・ Hold virtual currency for a long time
・ Trade with virtual currency (short-term investment)
・ Rent out virtual currency and earn interest
・Get virtual currency by staking
・ Earn virtual currency with defi
・ participate in ico and ieo
By knowing these methods and investing in a way that suits your investment policy, you will be able to make a good profit on your investments. You can trade online on cryptocurrency exchanges. You can also trade bitcoin (BTC), Ethereum (ETH), ripple (xrp), litecoin (litecoin), a cryptocurrency exchange approved by the securities commission, and bitcoin cash (bch).
The general flow when purchasing crypto assets (virtual currency) is as follows.
Registration of personal information:
- First of all, register your e-mail address. Go to the account opening page of a crypto exchange and complete your registration process with your email and KYC documents.
- The [account open] screen will be displayed, so enter the E-mail address you want to use, tap the checkbox of “I am not a robot”, and then tap [free account open].
- The [authentication by phone number] screen will be displayed, so enter your mobile phone number or landline number without “-” (hyphen). After entering, tap send code.
- The [authentication setting by sms] screen will be displayed, so when you can confirm that there is no mistake with your phone number, tap [send code].
- The [authentication completed] screen is displayed, so tap [proceed to apply for establishment] at the bottom of the screen.
- The [register customer information] screen will be displayed, so please refer to the example entry and enter the customer’s information. Tap confirm.
Submission of identity verification documents
Next, they will process your identity verification documents. Select one of the methods (1) or (2) below displayed on the [identity verification procedure] screen.
(1) “Easy identity verification” (a method of taking a picture of your face and one identity verification document). For example, you can hold your ID card and take a picture with your webcam.
(2) “Image upload” (method of uploading two identification documents). You can scan your document and upload the same.
Once the first item of identification documents has been submitted, the second form of identification will be submitted by the same procedure. When the submission of the second identity verification document is completed, you will find a common message like “we have accepted the submission of identity verification documents.” on your screen. Once your account is verified, you will receive an email.
Things to keep in mind when buying cryptocurrency
The history of cryptocurrencies has been around since bitcoin began in 2009 and is very shallow compared to other stocks and investment products such as foreign exchange. The fact that history is short means that there may be hidden issues and we should not take any risks with our hard-earned money. So, you need to do some research before you invest your funds in crypto.
Since the royal cryptocurrencies such as bitcoin (BTC), Ethereum (ETH), and xrp (ripple) have such a large trading volume and high reliability, you can add such digital assets to your portfolio to get a good amount of profit. There are some countries like China that have banned crypto.