For making successful trades in bitcoin or any cryptocurrency, basic knowledge is utmost important.
What is cryptocurrency trading? Cryptocurrency trading is speculating price movements of cryptocurrency or simply buying/selling the currency via an exchange.
The cryptocurrency market is decentralised which means they are not issued or backed by a central authority. They run on a network of computers. But cryptocurrencies can be bought and sold via exchanges and stored in wallets.
Unlike other currencies, there is only a digital record of ownership of a cryptocurrency which is stored in a blockchain.
How can you trade in cryptocurrencies? To buy cryptocurrencies, a wallet is required which can be any available online app to hold the currency. You can also buy cryptocurrencies like bitcoin through exchanges and stockbrokers or from other owners.
Cryptocurrency exchanges like coinbase and few traditional brokers like Robinhood can get you started with trading in bitcoins and other cryptocurrencies. Some of the popular crypto exchanges are – Coinbase, Binance, Gemini, Coinmama and others.