The potential of cryptocurrencies to change or revolutionize the broader financial landscape resulted in them being impossible to ignore, even leading to the opening of investment and trading opportunities. It’s true, despite the vast majority of countries worldwide still not accepting cryptos as legal tender.
To understand it better, the difference between established fiat currencies and cryptocurrencies (or shortened as cryptos) is that the latter is a currency unregulated by any regulatory authority, central bank, or country. In other words, they’re decentralized assets.
Existing Cryptocurrencies On The Market
A range of cryptocurrencies is available on the market today, with some more popular than others. Each of them also has varying degrees of volatility. Blockchain technology powers the majority of cryptocurrencies.
These are the most common crypto markets you can trade at exchanges:
Things You Should Know About Cryptocurrency Trading
When major cryptocurrencies like Ethereum and Bitcoin entered the mainstream, cryptocurrencies as an emerging market have increased in popularity. Thus, many are mulling over the markets of cryptocurrency trading.
The following are its basic characteristics:
Things You Need To Start Trading
If you’re interested in the cryptocurrency world and want to begin trading or earning crypto but unsure of how it works, this guide is for you. To help you get started, you’ll first need to ensure you have the following before you can begin trading cryptos:
How Does Trading Cryptos With An Exchange Work?
Exchanges typically work in the following ways:
How To Win Free Cryptocurrency
Many people are interested in getting free crypto. Yes, it’s possible to get it for free. In fact, there are several methods to get your hands on some, as listed below:
1. Earned From A Crypto Exchange
Yes, some cryptocurrency exchanges provide free crypto as a sign-up bonus for those members who join their platform through the referral links of their friends. You can also join a free crypto competition, compete against others, and win real cryptocurrency.
2. Obtained Through Online Wallets
A blockchain platform distributes free crypto coins in what’s known as a cryptocurrency airdrop. You need a crypto wallet that’s associated with that blockchain to receive such airdrops.
3. As Interest On Crypto Holdings
There are now various expanded financial products available in the crypto/fintech market. It only proves that the market has already matured enough. Thus, cryptocurrency saving accounts paying relatively high interests are now considered as one of these new product classes.
At a traditional bank account, you’ll get a measly 1% or less APY. On the other hand, a crypto savings account pays up to 8.6%, which is insanely higher.
Crypto holdings work in the following steps:
4. Collected With Crypto Faucets
How do crypto faucets work? They distribute tiny amounts of cryptos for actions taken, usually by playing games, completing micro tasks, or looking at ads. What happens is that faucets share their revenue from advertising back to the users, but in cryptocurrency form.
Note, however, that crypto faucets require so much work. Looking at advertisements for small amounts of cryptocurrency may not be worth it if you assess the return of investment closely.
Final Thoughts
Whether you’re looking at trading or earning free cryptos, note that it comes with risk. Even at the best of times, the cryptocurrency market can be volatile. Ensure that you’ve done your research before making any move.
Created by bmotrader | May 11, 2024
Created by bmotrader | Feb 21, 2024
Finance Magnates African Summit 2024 (FMAS:24), the year’s largest professional event bridging the B2B and B2C space.
Created by bmotrader | Sep 19, 2023
Created by bmotrader | Aug 01, 2023
Created by bmotrader | May 03, 2023