I have a local discipleship group that also broadcasts live on Facebook. These videos are not intended to be professionally done, so please forgive the raw nature. I am posting them in the hopes they will add value.
If you want to start trading cryptocurrencies in a method similar to the way forex trading is done, it can be confusing how to get started. Here’s the steps you need to take.
Steps to Trading Cryptocurrency:
1. Get A CryptoCurrency Wallet
There are many many wallets out there and as you become more advanced you will need a few of them (so you can trade more obscure currencies) but for now, I recommend getting Coinbase. It is the best known and allows you to send and receive the major coins to other trading platforms easily.
2. Connect Your Bank Account or Credit Card to Coinbase.
3. Set up a free account on Binance which will allow you to trade Crypto like stocks as well as acquire the “smaller” coins.
Here are some of the “smaller” coins that I am currently following:
Right now it is a very frustrating time for people wanting to enter the cryptocurrency space. One the one hand, there has been a sell off that has created a buying opportunity for many of the smaller coins such as Ripple (XRP) and Monero (XMR).
On the other hand, many of the major exchanges, such as my recommended exchange Binance, have closed registrations to new traders.
Fortunately there is another way to acquire many of the alt coins. Here’s how:
1: Set up a wallet that supports the major cryptocurrencies such as BitCoin.
I recommend Coinbase. Fund it with at least $100.