Many new users come to the cryptocurrency market because it seems profitable to trade digital assets. However, things are not that simple when it comes to trading, and before you become a really experienced trader, you will face many pitfalls and make many mistakes. That is a path every trader goes through. For practicing different trading strategies, many exchanges offer demo accounts. Such an option allows you to test your knowledge and skills in trading without the risk of losing money. WhiteBIT is a young yet credible centralized crypto exchange that allows such an option. To learn more about a demo account and how to use it, check out the blog WhiteBIT. There you will find numerous guides and educational materials on how to trade crypto online, pass KYC, create a token, use a demo account, etc.
To start cryptocurrency trading online, you should consider the following issues:
- Pick the coin you want to buy.
- Pick the exchange you want to work with.
- Analyze how much money you are ready to spend. The amount should not bring you discomfort, and you should not invest your lady money or, moreover, borrow.
In the White blog, you will also find new and up-and-coming projects that appear in the market, their essence, and reviews. Keep in mind that before buying crypto online, you should conduct your own analysis of the coin.
A guide on how to buy crypto online
First of all, register on one of the centralized exchanges. CEX always requires KYC verification to identify users and ensure they do not have any criminal background. Next, to buy crypto assets, you can use your bank card. Every exchange imposes different rules for this process. So make sure you read them carefully and know about the bank fees. Also, pay attention to the exchange commissions. Every platform sets its own fee policy, and on average, the fee is 0,1%.
When you buy digital assets, you can try to trade crypto online. For this, you should place an order, or a position, to buy an asset. Enter the number of coins you are willing to purchase, considering the fee. Once the payment is written off, you receive the needed assets to your account.
In addition to the widely-used crypto arbitrage, cryptocurrency trading online implies many trading strategies:
- Daily trading
- Range trading
- Scalping
- Primary Research
- Etc
For really profitable trading, you need to pick a strategy and adhere it, never allowing yourself to change the strategy and succumb to emotions and market fluctuations.