Cryptocurrency and digital currency both have the same concept, but most people think that cryptocurrency is something else. If there is no difference with digital currencies and the steps of learning cryptocurrency with digital currencies are both the same. So if you see somewhere that they separate the two, it means that they know little about digital currencies. Cryptocurrency is derived from cryptocurrency, which means digital currency, so these two should not be confused with each other. In this article, we are going to teach you about cryptocurrency and everything you need to know about digital currencies.
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What is cryptocurrency?
Cryptocurrency or digital currency refers to digital assets that have a high value, but do not have a physical nature. Cryptocurrency or digital currency are encrypted assets that are very difficult to hack due to their blockchain structure. Bitcoin and Ethereum are among the most famous digital currencies. Digital currencies have made a lot of noise in the last few decades and many people have gone from zero to everything. Because the digital currency market is intermittent and some digital currencies grow a lot, but at other times they drop sharply.
Those who can predict these points in the market will make huge profits. Exchanges and brokers are places where it is possible to buy and sell digital currencies. By creating an account and authentication in an exchange or broker, traders get permission to buy and sell digital currencies and also use existing tools. Digital currencies are available in foreign and Iranian exchanges where you can buy digital currency with foreign currencies in foreign exchanges and with Rials in Iranian exchanges.
What is cryptocurrency trading ?
Trade means buying and selling or trading goods for profit. Cryptocurrency trading takes place on digital currencies that do not have a physical nature and only a series of digits are transferred between the parties. In order to become a successful and expert trader, you must study the digital currency training course to get to know this market. As we stated in the previous section of the cryptocurrency education article, the digital currency market is intermittent. In order to become a good and successful trader, you must recognize the time of buying and selling and the ups and downs of the market, because these are the points that determine your profit and loss. Of course, trading is not limited to buying and selling digital currencies, because some people are very interested in holding digital currencies.
Holding is another type of cryptocurrency trading where a person buys digital currency and sells it in another period of time, for example a few years or a few months. You can learn the concept and method of trading by reading the digital currency trading training article. Trading is done in two ways, long-term and short-term, each of which has its own advantage. Those who prefer long-term investment have thoroughly investigated the digital currency and are confident that its price will increase in the long term. Short-term investors intend to buy and sell digital currencies instantly and usually earn more than long-term investors, because they monitor the market and invest on it when they see an increase in one of the digital currencies.
Types of cryptocurrency trading methods
Scalping method
Short-term investors usually use this method to buy and sell digital currencies. In this method, people regularly monitor the digital currency market and start selling when the market rises and buy digital currency when the market falls. This process is usually done in a few hours or minutes, swing is a technique that these investors use. You can learn how to fluctuate by reading the digital currency fluctuation training article.
Daily method
This method is also the same as the scaling method, but the buying and selling time frame is different. In this case, the trader or investor buys and sells digital currencies within 24 hours. People can make a good profit from the market using this method, but this profit requires a regular plan. The investor buys his digital currency at the beginning of the day and sells it at the end of the same day.
Swing Trade
In this section of the cryptocurrency training article, we are going to introduce you to one of the most popular trading methods. The swing method is such that a person buys digital currency with careful analysis. The time period of this method is usually for several weeks or days when the buying and selling process takes place during this period of time. The trader or investor considers the sell limit based on the analysis he has done for his digital currency. Therefore, whenever the value of that digital currency reaches that price, it sells that digital currency. This method is not suitable for those who do not have much patience and is suitable for long-term investors.
Positioning Method (Position Trading)
The positioning method is such that a person chooses a situation based on his analysis. After measuring the market, a person takes a position that this situation may last for months and weeks. The investor stays in this position until he reaches his desired profit, which sometimes takes a long time to sell the property. This method is also suitable for long-term investors and they are practically known as long-term investors. Because these people are not interested in participating in daily trades or scalping and sell their assets at a certain time. Analyzing the market is one of the most important topics that every trader should be familiar with. It is not possible to use these last two methods without professional market analysis.
Foreign exchanges
Foreign exchanges have many fans among Iranian users due to their unique features and tools. Creating an account in all these exchanges is not available for Iranians, because most of the foreign exchanges have Iran in their list of sanctioned countries. For example, Binance exchange, which is the biggest exchange currently, has Iran and America in its list of sanctioned countries. Nevertheless, 90 percent of those who operate in the digital currency market have accounts in this exchange and are engaged in buying and selling digital currencies. Foreign exchanges are the best option for buying and selling cryptocurrency, because they have high liquidity and many tools. But the only problem is that it is not possible to buy digital currency with Rials in any foreign exchange.
Therefore, most Iranians also have accounts in domestic exchanges so that they can easily buy digital currencies and transfer them to foreign exchanges. It is the same for selling digital currencies, you can sell your digital currency in foreign exchanges and receive dollars or Tether. Then transfer it to the Iranian exchange to receive Rials in return. Note that foreign exchanges are not a good place to store your assets, because most of them have a history of being hacked. Hence, it is better to keep your assets in your digital wallet. If you don’t know how to transfer your assets from the exchange to the wallet, read the article on how to transfer digital currency from the exchange to the wallet.
Iranian exchanges
Iranian exchanges have many fans along with foreign exchanges, and Nobitex and Abantar are the best among them. Iranian exchanges are very suitable for buying and selling with Rials and usually charge a small fee from their users. But the tools found in foreign exchanges are rarely seen in Iranian exchanges. For example, the futures trading section is rarely seen in Iranian exchanges. If you are not familiar with the different parts of the exchange, you can read the exchange training article to easily operate in foreign and Iranian exchanges.
Cryptocurrency charts and graphs
Until this part of the cryptocurrency education article, you have understood where to buy cryptocurrency and what is cryptocurrency. In this section, we are going to explain cryptocurrency charts and how they help us. Charts and graphs in the digital currency market contain tips such as the time of price increase, price decrease, cryptocurrency price, etc. People analyze digital currencies through these charts and predict its future and behavior. Investors analyze the digital currency market with one of two fundamental or technical methods.
Technical analysis is such that they predict the trend of the market and digital currencies by using special methods and patterns. In general, cryptocurrency charts are very suitable for examining the future and behavior of digital currencies. Using the digital currency trading view site, you can implement various tools on the charts and analyze them more easily.
Conclusion
Cryptocurrency or digital currency are digital assets that are not physical in nature, but have a very high value. Cryptocurrency training is a course that every person should attend before entering the digital currency market. Because by learning cryptocurrency, you get to know the basic concepts of digital currencies and trading methods, and you can make money in this market more easily.
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