Cryptocurrency has gained undeniable popularity over the decade. Although still young and nascent, cryptocurrency is well known around the world. Today, the crypto world presents various options that can benefit anyone. From becoming a trader to associating with an exchange as a sub-broker, cryptocurrency has opened a pool of opportunities for everyone.
In contrast to what everyone says, becoming a cryptocurrency trader is not as hard as rocket science. All you need is a bit of guidance and a well-established exchange which will become your launch pad. This blog will be your guide in your cryptocurrency trading journey.
What is cryptocurrency?
Starting from the basics, a cryptocurrency is a form of digital or virtual currency which utilizes cryptography for security. One of the reasons behind its popularity is its high security. Unlike our normal fiat currency, it is almost impossible to steal a cryptocurrency. Another major feature of cryptocurrency is that it is not controlled by any single authority. This is made possible with the help of its backbone, the Blockchain technology. Moreover, cryptocurrency is global. Which means 1 BTC (Bitcoin) in Hong Kong will have the same value in any corner of the world.
Now that you know what is a cryptocurrency, let us move ahead with our next question.
What is cryptocurrency trading?
To be a successful Cryptocurrency trader, you first have to understand what is cryptocurrency trading.
It is a type of trading which involves replacing one cryptocurrency with another. It also includes buying and selling of new or old coins and buying cryptocurrency with fiat.
In a number of ways, it is similar to foreign exchange also known as forex. Like in forex where you trade fiat currencies from all the countries, in Crypto trading, you trade cryptocurrencies from around the world.
Around the world, there are 180 fiat currencies. But around the crypto world, there are more than 1600 currencies. This means you have more options to trade with.
After learning what is cryptocurrency trading, let us head on to how you can enter the crypto trading world.
How can you start cryptocurrency trading?
Your first step in the cryptocurrency trading is to associate with a cryptocurrency exchange in Hong Kong. But before choosing a cryptocurrency exchange in Hong Kong, let us see what qualities must an exchange have:
- Location and Presence: The exchange should have its presence in your state or country. Which means your exchange should have its presence in Hong Kong. Moreover, you should also look at an exchange’s global presence and its infrastructure.
- Security system: An exchange must provide you security. With a good security model, the exchange would not only keep your fiat safe but also take care of your crypto.
- Fees and rates: You should thoroughly read through the rates and fees charged by the exchange. On average, each exchange charges 0.5% as transaction fees.
One of such cryptocurrency exchange in Hong Kong is PCEX which is present in seven countries around the world. At PCEX you get a well designed, five-layer security system. Moreover, unlike any average exchange, PCEX only charges 0.05% transaction fees. Cryptocurrency trading for beginners can be scary and overwhelming, but with PCEX you can leave all your worries behind.
Furthermore, with PCEX you can not only do cryptocurrency trading but you can also get associated with it as a sub-broker. PCEX offers a franchise model which allows you to join hands with their platform and grow your business.
Cryptocurrency has become a well-known asset which has opened doors to a world powered by technology. Although this world is new and emerging with a number of skeptics, there is no doubt that this world is also growing and prospering.