Home Cryptocurrency The importance of trading cryptocurrencies

The importance of trading cryptocurrencies

by Brock Dakari

When it comes to financial investments the ability to hot-swap between currencies is the key option to have available. Crypto trades benefit from it even more as volatility of most of the currencies are pretty high. It means most of tokens can show increases and decreases in value 20% on average in a span of 24 hours.

Trustworthy services to buy cryptocurrency online are not easily distinguishable between thousands of sites after the blockchain boom in 2018. Investors and regular users better be knowing not only the lists of exchanges but criteria to find ones.

Exchange picking guide

A good starting point will be looking for the user review aggregators to compile the list of the most trusted exchanges. To find an optimal solution for your case, the following boxes should be checked:

  • real-time conversion rates;
  • token value is fixed during the payment process;
  • windows to confirm if wallet and number of exchanged tokens is correct.

Do not forget to compare the rates in real time to see which transfer company offers the best services. The fees are also important to count in the final sum.

How does it works

To see why crypto currencies are totally secure method of investing we must look deeper in the blockchain technology. It is a key component of every decentralized project nowadays. The main catch is you do not have to have dedicated servers. All the crypto avenues like tokens or NFTs use user-powered networks. This approach makes it almost hacker-proof while maintaining decent speed of operations.

Trusted projects in the community

It is also easy to fall to some scams operating on the principals of the free market if you do not know the names of trustworthy tokens. According to Bitcoincom news portal there are top 5 tokens to buy in 2022:

  • Bitcoin (BTC).
  • BitcoinCash (BCH).
  • Ethereum (ETH).
  • Ethereum Classic (ETC).
  • Litecoin (LTC).

Other projects have questionable funding or technological background but the volatility can compensate the risks. It is possible to make thousands of dollars overnight if you have a knowledge!

Store cryptocurrency in the right place

In the end let us discuss about the means of storing your funds. It is highly advisable to avoid keeping all the coins on your online exchange balance. Instead, use one of these highly secure software wallets:

  • SafePal.
  • Electrum.
  • Exodus.
  • Coinbase
  • Huobi.

Hardware with similar functionality from Trezor and Ledger allow you to hide funds after the strong encryption. It can is also be easily traded in person between 2 crypto enthusiasts. The budget hardware wallets can be purchased for 60 USD.

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