One of the most traded assets in the online financial market is crypto. ProfitRaw can confirm that cryptocurrency is as famous as it seems! It is a globally wide decentralised marketplace. The currencies have no authorised control, which makes them available for anyone to trade.
If you are an experienced trader, you already know the sentimental value of cryptocurrencies. However, if you are a beginner, let us introduce you to the world of crypto trading.
Firstly, Learn about Blockchain with ProfitRaw…
Blockchain refers to a digital register that contains all the data regarding a certain commodity. In this case, the commodity is crypto. For crypto, blockchain means the transaction history of a particular cryptocurrency. It contains the record of every crypto unit traded along with its ownership history over time. A new block is added to the chain of previous ownership records.
Do you know about the world’s first cryptocurrency?
Every trader and non-trader must have heard about Bitcoin by now! Even if you don’t know how it works or what it actually is, ProfitRaw is sure about the fact that you have heard the word.
Well, Bitcoin was introduced to the world of trading in 2008 by Satoshi Nakamoto as a decentralised asset class based on blockchain technology. Though the transactions started to take place in 2009, they became a hit among the tech geeks very soon.
How to collect cryptocurrencies after buying them?
Every reputed trading platform allows traders to create an e-wallet. It not only stores your investments but you can also send and receive crypto through it. Multiple types of e-wallets are available for traders, including
- Mobile wallet
- Desktop wallet
- Hardware wallet
- Paper wallet
- Online wallets
You can use any of these wallets to store your cryptocurrencies safely. Also, keep in mind that if you trade crypto using a CFD account, you will not need a wallet. You have to acquire a wallet when buying crypto.
Are cryptocurrencies and digital currencies the same?
Cryptocurrencies may seem like a variation of digital currency. However, let ProfitRaw assure you that they are entirely different. As crypto is completely run by decentralised blockchain technology, the crypto market have no assigned authority. On the other hand, digital currencies are issued by a central power, be it a national government or a global authority. They are like any other traditional currencies but have a digital existence.
How to become a crypto trader?
If you are planning to start investing in cryptocurrency, let ProfitRaw guide you towards your goal. As a leading trading platform, we can assure you that you can invest and gain maximum profits from the right crypto trade. But first, you have to learn about all the cryptocurrencies available in the trading market.
Bitcoin paved the path for more exceptional cryptocurrencies in the market. To succeed, you have to know about their market performance. Moreover, you need to gain enough knowledge about the crypto market, its volatile nature, and how to make complete use of the price movements.
Conclusion
To become an expert crypto trader, you have to be smart about your investments. To form the perfect trading strategy, sign up with us on ProfitRaw today!