Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.
Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.
What Does Crypto Mean Today?
The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times driving prices skyward.
Although Bitcoin has been around since 2009, cryptocurrencies and applications of blockchain technology are still emerging in financial terms, and more uses are expected in the future. Transactions including bonds, stocks, and other financial assets could eventually be traded using the technology.
While the number of institutions accepting bitcoin is growing by the day, large transactions involving it are rare. For example, very few real estate deals using cryptocurrency have been reported. Even so, it is possible to buy a wide variety of products from e-commerce websites using bitcoin. Here are some of the most active categories -
Technology Products and Services
E-commerce Products
Cars
Jewelry and Luxury Goods
News and Media
Insurance
Real Estate and so on…
For many people, crypto is a type of alternative investment. Just as you can buy and trade stock in public companies, you can buy cryptocurrency with the hope that it will increase in value over time, allowing you to cash out for a profit at a later date. This has already happened to many and will keep making more and more people happy - it’s all about Supply vs Demand ultimately :-)
Bitget - A Popular Crypto Derivatives Exchange For Buying and Trading In Crypto
Bitget is a crypto exchange based in Singapore. The platform offers a wide selection of crypto coins and tokens for trade through the spot or futures market, with low trading fees.
Bitget has received regulatory licenses from the US, Canada, and Australia, making them a trusted exchange. Bitget is available for mobile or desktop and has a simple sign-up process. The platform offers free copy trading for its users with great incentives for the pro traders that allow others to follow their strategies. If you are looking for an exchange with a lot of small market coins or the ability to copy trade, Bitget may be for you.
Why Bitget?
Here are some of the key advantages of Bitget:
Opportunity to trade in spot, futures, and cryptocurrency
Lower trading fees (Please refer - Bitget’s Fee Schedule Page)
“Copy Trading” service built into the platform
A wide range of cryptocurrencies for account replenishment
Top-notch exchange security
Availability of demo accounts
Launchpad, Savings and Earn
Affiliate programs, Reward programs
Excellent support and helpdesk service
The exchange uses hot and cold cryptocurrency wallets to store client funds
Availability of Web as well as Mobile apps
Cryptocurrency Trading and Education
The cryptocurrency market can be daunting for beginners and seasoned traders alike due to the vast amount of jargon and processes involved. Below are some key steps while you think of jumping into cryptocurrency trading:
Research and study the crypto market
Educate yourself with at least a basic understanding of crypto and blockchain.
Open an account on a safe crypto exchange like Bitget
Build a trading strategy and plan - You can also try exploring Bitget’s Copy Trading service
Crypto markets are 24 x 7 and run 365 days - be ready :-)
Education is the key in life and Crypto is not an exception. Generally, people lose money in crypto just because of a lack of knowledge.
So better late than never… Let’s start educating ourselves…
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You are going to learn about the fundamentals of cryptocurrencies. But you are also going to learn how to get started with cryptocurrencies and how to trade them.
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If you want to share anything or have any suggestions/questions, please leave them in the comments!
That’s it for today :-)
Hope each of you has a great start to your day. I’ll talk to everyone tomorrow.
— Amit
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Bitget - Bitget is a crypto exchange based in Singapore. The platform offers a wide selection of crypto coins and tokens for trade through the spot or futures market, with low trading fees.
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