Digital currency market is one of the scariest and at the same time one of the most profitable financial markets. Many people have entered this market to earn money and eventually lost their capital due to not having enough knowledge. Therefore, to start working in the digital currency market, you need a series of basic knowledge about the world of digital currencies. The number of digital currencies and methods of generating income from this market are many, and it is better for beginners to get acquainted with some of them. In this article, we are going to teach you how to enter the digital currency market and teach you everything that a beginner should know about digital currencies.
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Learning to enter the elementary digital currency market
Learning how to enter the elementary digital currency market is a topic that we intend to address in the rest of this article. The issue of generating income from digital currencies is a topic that has recently become popular among Iranians. Most people in this market are engaged in buying and selling digital assets and earn a lot of income from this market. In the following, we will answer the questions that a novice trader should know the answer to and introduce you to the training of entering the digital currency market.
How much should we buy digital currency?
One of the issues that most traders in the digital currency market have a problem with is how much digital currency to buy? This is a question that arises not only for new traders, but also for professional traders. In answer to this question, if you have money that you won’t need for a long time, exchange it to buy digital currency. Of course, it goes without saying that it is better to invest in digital currency such as Bitcoin, which has good stability.
What is the minimum amount to invest in digital currencies?
Investing in digital currencies requires having sufficient knowledge about digital currencies. But now, what is the minimum capital to enter and invest in digital currencies, with how much money can you buy digital currency? First of all, you should know that when you spend money to buy digital currency, you will not be able to use it for a long time. Therefore, enter money that you don’t need and it doesn’t matter how much, maybe it is 1 million tomans for someone and 100 million tomans for someone else. But if you haven’t completed the full digital currency training course, you will lose your assets and your capital quickly in this market. Pay attention to the fact that you should never spend all your capital and assets on buying one asset and try to divide your assets between several cryptocurrencies.
Holding digital currencies
The holding method is useful for investors who do not intend to use their property for a long time. Long-term investors, after reading about digital currency, choose it and put their capital on that digital currency. This kind of investment will usually pay off in the following years or months and the value of your property will multiply. But keep in mind that your capital may be destroyed and the value of that cryptocurrency becomes zero at once.
What is the best digital currency to buy?
This is a question whose answer is different according to the interests of each person and you can get any possible answer. But currently, the best digital currency for investment is Bitcoin, because it is more stable. In general, buy digital currencies that you can be somewhat sure of and that you think will increase in value in the coming years or months. Therefore, in the table below, you can see a list of the best digital currencies and choose one of them to start.
[ninja_tables id=”8190″]
What currencies should we buy?
If you have noticed, most of the traders active in the market do not seriously offer any currency to another person. The reason for this is the unpredictability of the market. Some may have a good prediction of the future of a currency in the short term, but no one knows the future for sure. Before buying digital currency, determine for yourself what your investment is, long-term or short-term?
Where to buy digital currency?
This section is one of the important sections of training to enter the digital currency market. Exchanges and brokers are the most reliable places to buy and sell digital currencies. Binance and Hotbit exchange are two famous foreign exchanges where you can buy and sell digital currencies. Since you cannot buy digital currency with Rials or Tomans in foreign exchanges, you must buy digital currency using Tether. How to buy Tether in Binance is not very difficult, and the assets you have in this exchange, you can buy Tether and any other cryptocurrency. Also, exchange training will help you to know and familiarize yourself with the different parts of exchanges.
CoinMarketCap website
In this part of the training to enter the digital currency market, we intend to introduce you to one of the best websites in the field of digital currencies. The Coin Market Cap website provides you with complete information about digital currencies that will help you identify digital currencies. This information includes the price of digital currencies, their price charts, the volume of transactions in the last 24 hours and other contents.
Trading View website
One of the most important concepts in learning to enter the digital currency market, which should be paid attention to, is the fluctuation and analysis of digital currencies. The Trading View website is one of the websites that you can use to analyze digital currencies. Investors’ news, information and ideas are on this website and you can learn some information about digital currencies by using them. The digital currency training course can be very useful for beginners, because everything they need to know about digital currencies is included in this course.
What is a digital wallet?
You should choose a place to store your digital assets, which we want to discuss in this part of the article on how to enter the digital currency market. Exchanges are not a good place to store your assets because they can be hacked. Therefore, having a digital wallet is one of the most important issues that must be addressed in training zero to one hundred entry into the digital currency market. Digital wallets are divided into two parts, physical and online, each of which has its own characteristics. A hardware or physical wallet is very secure and you can carry it with you. Software or online wallets are wallets that can be installed on your phones.
How to buy digital currency
Exchanges are the best place to buy and sell digital assets. But now how to buy digital currency? From which exchange to buy digital currency? These are the questions that arise for new traders, and the answer to the second question should be: whichever exchange you are most comfortable with. For example, Hotbit exchange is one of the newest exchanges that you can learn more about by reading the Hotbit exchange training article. You cannot buy digital currency in foreign exchanges with Rial, therefore, in this step-by-step tutorial on entering the digital currency market, we intend to teach you how to buy digital currency.
- Creating an account in one of the Iranian exchanges
- Buying Tether in one of the Iranian exchanges
- Transfer it to a digital wallet
- Tether transfer from wallet to exchange
- Convert Tether to any other digital currency
Conclusion
The market of digital currencies is a big and confusing market in which earning income is a little difficult. Therefore, if you get to know its parts, you can easily earn money and increase your capital. Therefore, in this article, we tried to teach step-by-step how to enter the digital currency market and answer the questions you may have. We hope that the content of the article on entering the digital currency market has been useful for you and that you can earn money in this market.
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