Cryptocurrency Market

Cryptocurrency market:

before I begin I have to make it clear
that I am NOT a financial advisor don't
take this as a financial advice and if
you choose to invest in this market
please understand that this is a very
high-risk market and do not invest more
than what you're willing to lose so this
market is very volatile it is not
uncommon to see 20 30 40 % swings every
single day so if you're on the right
side of the trade it's pretty easy to
see that you can make some very quick
profits however if you're on the wrong
side then you can lose a lot of money
very quickly so there's pretty much two
ways they could go about doing this
you could be an investor or you could be
a trader now if you choose to be an
investor that typically means that you
would purchase some cryptocurrency and
hold on to it basically you could be
holding on to it for a few months or
even a few years and hoping that that
value of that cryptocurrency will
appreciate now if you choose to be a
trader you would typically focus on
short-term profit meaning you would
purchase a cryptocurrency and utilize
the volatility of the market to sell in
and out of trades basically it goes down
to the buy low sell high now if you're
anything like me you're probably going
to be a mixture of both I do have some
coins that I hold long term as long term
investment so I'm not too concerned
about the fluctuation in prices however
there are other coins that I do trade
short term and I do utilize that
fluctuation to get quick profits so it's
really up to you to evaluate what your
goals are and what level of risk you're
willing to take now this market pretty much revolves around Bitcoin now if you're not
familiar with Bitcoin.  now the first
thing that you need to do is to buy
Bitcoin now there's a few different ways
that you can go about doing that
but the way that to go through coinbase, coinbase has been around for a very long time and they're pretty much the most reliable and trusted source to get Bitcoin and all you have to do is just go onto coinbase
comm and sign up for an account now you
will have to go through a verification
process where you verify your identity
so don't be alarmed if it's asking you
for personal information this is
required by law once you've been
verified and have linked up your bank
account and/or your credit card you can
now go ahead and buy some cryptocurrency now currently coinbase offers Bitcoin etherium as well as litecoin what I'm going to show you now is how I purchased two hundred dollars worth of Bitcoin you basically just select Bitcoin and choose buy from there you can select how much bitcoins you would like to purchase in this case I am
choosing two hundred dollars worth in
regards to the payment options if you
choose to pay through your bank account
the fees will be lower however it will
take a few days before you receive your
coins that's why I typically use credit
card as my form of payment however the
fees will be higher since I am purchasing this with my credit card as soon as I hit purchase the coins will be available in my online wallet immediately so if you decide to be just
an investor and you want to hold this
coin long-term then you're pretty much
done you could leave the Bitcoin in your
wallet and check it every few months
every few years or whatever you like
it's almost guaranteed that the value of
Bitcoin will appreciate throughout the
years however if you want to trade
Bitcoin for other cryptocurrencies this
is where you would need to transfer your
Bitcoin on to an exchange you can
imagine the exchange being like the
stock market where you would have a
brokerage account allowing you to
purchase shares of companies but in this
case we are purchasing coins there are
several different exchange that you can use from but if you're new I definitely recommend using bit tricks bit tricks in my opinion it has the best reliability as well as the best user experience and again I'll leave all the links down below and once you're on the exchanges website you're gonna go ahead and create an account and again you may have to verify your deni this is pretty
much standard with anything that has to
do with money and once you're in your account you could click on your wallet and chooses  which coin you want to deposit into the exchange so you want to move over to the deposit icon and once you click on it  your wallet address will appear you wants to carefully copy the entire wallet address this is very very important step and once you have that copy you could go back to coinbase choose send select how much you want to send and paste in your wallet address at this point I typically will double check the address again that the wallet address is very important once you have that paste it in you could go ahead and click send so what you want to know about this transfer so you don't freak out is that the transfer of
Bitcoin is actually kind of slow these
days it could take 15 20 maybe even 30
minutes before you actually see the
available balance on the exchange and
once you see your bitcoins available in
the exchange now you could go to the
exchange market and choose which coin
you would like to trade now there are
over 800 different crypto currencies so
it's really up to you to do your
research and to find out which coins you want to invest in now in this example I
am gonna purchase a coin under the name
G and T which is gollum now for me this
is personally a project that I believe
in and it's a project that I actually
want to use in the future so once you
select your coins market you'll then be
presented with some charts your buy and
sell books and the transaction history
this is where you're going to go ahead
and place your order now if you wanted
to purchase the coin at its current
price you could just select the price
and click buy however for me I typically
don't like to purchase the asking price
I typically set my buy order little bit below the asking price and once you click buy your order will not be placed in the order books and hopefully it will get fulfilled and
that's pretty much all there is to it
now it's always recommended that once
you purchase your coin to remove it off
of the exchange and transfer it to your
actual wallet now like I said coinbase
only offers Bitcoin aetherium and
litecoin as of right now so if you're
purchasing a different coin you're gonna
need a wallet and the best way to do
that is just go to the official website
of that coin and use whatever the
recommended wallet is and after that
it's nd of up to you how you want to
play this game do you want to hold it
long-term or do you want to trade in and
out of it that's something that you're
gonna have to decide..
if you have any specific questions or
just general questions leave a comment.