However, if you don’t understand the market, then you are at risk of losing your money. That is why having a guide to choosing the right cryptocurrency trading platform is very important. This applies even if you want to day trade or buy and hold for more than a year; we all know that it’s not good enough to invest in something blindly!

Both novice and experienced traders often use exchanges to buy and sell cryptocurrencies. This is because these platforms provide them with a central place where they can interact, as well as compare prices and trade their coins.

Here are key considerations that every trader should take into account when choosing an exchange:

Safety & Security

The number one rule of cryptocurrency trading is “Never leave your money on an exchange!” This is because you never know if the trading platform can be hacked, or even shut down by authorities. That is why a lot of people use cryptocurrency wallets to store their coins for a long time, just like how they would use a regular wallet.

Exchange Rate & Fees

As we all know, cryptocurrency prices fluctuate. There are many online services that offer information on what the value of various coins is at any given time, but these numbers can change fast.

So you should take a look at whether your chosen exchange offers price tracking features, including charts and historical data. This will help you make an informed decision when buying or selling cryptocurrencies. The bitql review indicates the fair fees and rates charged by the platform.

Speed

Since cryptocurrency is still very young, we cannot expect trading platforms to have the same speed as those used for traditional currencies. Nevertheless, you should look at how quickly your chosen exchange processes your orders and executes trades.

Customer Support

Lastly, if you have any issues with an exchange (especially complicated ones) you should be able to get help from the customer service team very quickly. Look at how long it takes them to reply; this will show you how invested they are in resolving your issues.

We’ve talked about the top things that people should look for when choosing an exchange. To recap, these are:

Safety & Security Exchange Rate & Fees Speed Customer Support

Coinbase is one of the most popular cryptocurrency platforms in existence today; it was founded in 2012 and gained over 1 million users by 2013. Users can buy, sell, send and receive cryptocurrencies like Bitcoin (BTC) and Ether (ETH). Coinbase supports Ethereum Classic (ETC), so you can also use this platform if you want to trade ETC. 

The nice thing about Coinbase is that it ensures all the coins that are kept on its servers, so even if someone hacks into them or they collapse, your coins will be safe. Furthermore, Coinbase does not charge users any transaction fees for sending and receiving digital currencies between wallets.

Conclusion

The choice of your crypto trading platform is ultimately up to you, and it depends on what you want to use your cryptocurrencies for. It is okay if you find a platform that only offers one service; the important thing is that you will be able to make money from cryptocurrencies (even if they’re worthless).

With this guide, you will be able to make an informed decision on which crypto trading platform you should use. 

The post Guide to Choosing a Crypto Trading Platform appeared first on Tech Today Info.

The profit potential is another benefit and the one that gets the interest of many. That’s why most people are looking to get into crypto trading. With that said, it’s no wonder that the gaming industry is responsible for creating so many crypto trading simulators.

These games are parts of the crypto gaming market which started back in 2017 with CryptoKitties, the first-ever crypto game. The thing about these simulators is that they offer a variety of crypto to trade with or focus on a single crypto. Also, they can focus on the buying and selling aspects or give you an all-around approach.

Moreover, they come with a virtual market and virtual assets. The virtual money is there too, but the prices of these assets are real so you’ll practice just like you were trading in the real world. Here are a couple of apps you’ll come across:

Bitcoin Mining Profit Calculator

This is for those that have no idea about crypto trading. This game plays like a text adventure game and it will give you all you need to know about Bitcoin and trading it. With that said, Bitcoin Mining Profit Calculator will also come with various prompts that you’ll need to deal with. If Bitcoin is your preferred cryptocurrency then you’ll find this game right up your alley. Then again you can always go for a trading platform that will trade in your stead, a trading platform like Bitcoin Profit.

This is a platform that relies on user input to work. This means you’ll need to learn about its settings and the various kinds of adjustments you can do to them. That’s why you’ll need an account as well as a small starting budget that will take the form of a small deposit. To get familiar with the settings and adjustments you’ll need to go over a couple of tutorials and fiddle with a demo account. Then it’s time for the live session and afterward, you’ll get to enjoy the many benefits of this app like the low commission.

Niffler

There aren’t as many simulator apps quite like Niffler. That’s because it doesn’t just give you the popular cryptocurrencies to trade with but it also some new ones as well. Moreover, it’s an all-around app which means it doesn’t just focus on the buying and selling aspects of crypto trading. It focuses on other things like shorting a position, using leverage, going long, and more.

You’ll learn various skills and you’ll have the badges to prove that. After some time with the app, you’ll get to the verified status and you’ll have a complete portfolio of skills and you’ll be able to help the newcomers.

Altcoin Fantasy

Unlike the previous entry, Altcoin Fantasy focuses on popular cryptocurrencies only. Besides buying and selling assets you’ll also learn how to analyze the market and you’ll also have the chance to compete in various contests. The prize is a specific amount in your preferred cryptocurrency.

Conclusion

With the crypto trading skills, you’ll be well on your way to becoming a successful Bitcoin trader. Finding the right exchange and wallet will help you with trading. But so will finding a crypto out of the several digital currencies and sticking to it. Don’t forget to keep an eye out for the value of the crypto as you’ll need to adapt to changes.

The post Crypto Trading and the Simulators That Will Teach It appeared first on Tech Today Info.