You hear the word “cryptocurrency” almost every day, I suppose.
World news, popular websites, magazines, Reddit discussions are full of it.
Cryptocurrency is virtual money.
Have you ever seen when in modern movies or series people send large sums through the wallet?
This is the best advantage of cryptocurrency – anonymity. If you don’t want someone to know where and why you send money, crypto is your choice.
Least but not last, cryptocurrency trading is very popular because it allows earning money sitting in your house.
Crypto apps are so popular around the world that even healthcare app developers started to make such apps.
But still, there are a lot of arguments that crypto is not so good as our common money like EUR, USD, GBP, etc.
Cryptocurrency is better for fiat money because:
- You don’t need to have a mediator like a bank or another trusted party. As I told you above, you can send and receive crypto coins on the condition of anonymity and with no personal data.
- Such currencies have a very high level of security. Databases that are stored in a distributed registry are very hard to hack.
- Fees for crypto operations are rather low compared with the cost of traditional bank services.
- You have no borders, so you can send your crypto to every part of the world.
Speaking about cryptocurrency trading I need to say that many people think that it is very easy!
“Why do I need to have experience for trading here?”
Oh, believe me, you need it. 80% of newcomers lose money starting trading without experience.
Before you register on the exchange or choose a crypto trading bot, spend some time reading, searching, learning.
Also, don’t forget to choose the best bitcoin wallet for your assets, because the safety of your crypto is very important.
You need to understand that anonymity is not only the biggest advantage but the biggest disadvantage as well. There are a lot of scammers in the crypto world, and if you send money to their wallet, you will not be able to get it back.
That is why I am sure cryptocurrency trading can be profitable even for people with low experience.
The most important thing during the first year or two is to be aware of all the risks that are waiting for you and do all the best to avoid those risks.
Stay safe and good luck with trading!