Trading cryptocurrency simply involves changing one cryptocurrency to another cryptocurrency or changing crypto to local money or Fiat. On the other hand, cryptocurrency trading also covers the buying and selling of any crypto or coins and exchanging to the fiat of one’s choice.
To trade crypto assets, the first thing you need to do is to ensure you have a wallet where you can keep any cryptocurrency you’ll be purchasing from any crypto exchange platform like Remitano, Coinbase, Binance, etc. The first stage of trading cryptocurrency is creating an account. The essence of creating an account is to show interest and also give you the platform to get your cryptocurrency wallet.
What are the cryptocurrency exchange platforms?
These are platforms that allow the buying and selling of cryptocurrencies. There are centralized and decentralized platforms, but the bests are always decentralized. The decentralized platforms are controlled by multiple systems (meaning there is no single computer controlling it). These platforms allow you to buy and sell cryptocurrency and as well as store them in your wallet.
Read this article about decentralized cryptocurrency exchanges (DEX) to gain more insight into decentralized exchanges.
Exchanges charge traders a fee for allowing you to trade cryptocurrencies. The average fee per trade is 0.1% of each trade executed on the platform. Billions of dollars worth of crypto assets are traded every day. Lucky traders and early adopters have made it big from trading cryptocurrencies, and it is now their full-time job.
From my experience, there are basically two types of cryptocurrency trading; short term trading and long term trading. Now let’s look at these types of trading.
Short term trading
This refers to buying cryptocurrency at a low price only to hold for a short time before selling at a marginal profit. Trading time can be between minutes to months.
The idea is simple; you buy a coin because you think the price will increase in a short time and then sell it for a quick profit.
This guide on day trading will help you become an expert at short term trading.
Long term trading
Long term holding refers to the act of holding a particular crypto asset for a very long time, years to be precise. The word HODL which means Hold on For Dear Life originates from long term trading. The idea of long term trading is to hold crypto assets for a very long term regardless of the volatility with the hope that it will increase by a significant factor after years of holding.
Risks of trading cryptocurrencies
Fluctuations are the most significant problem that cryptocurrency traders face. Trading cryptocurrencies have many benefits, but before you trade, you must be aware of the risks involved in trading. Below are some of the cryptocurrency-related risks.
✓ Cryptocurrency fluctuates: There is no fixed price over a fixed period for cryptocurrency. This means the worth of a cryptocurrency today can change tomorrow. The change can be slow or rapid, but it is quite unusual for cryptocurrency value to drop heavily. Most times, whenever it drops, it is always little, and there’s still a time when it will pump (cryptocurrency increases).
✓ Cryptocurrency is not regulated: The bank and government are not in control of these digital assets. However, people are paying more attention to it because of its usefulness and how it is becoming generally accepted across the globe.
✓ Security risks: There can be cryptocurrency mistakes, and cryptocurrency can be hacked: Sometimes, avoiding obstacles as a result of technical failures might be difficult. Hackers can also hack into cryptocurrencies and toy with it.
The best way to avoid issues with cryptocurrency is to get as much information as possible before starting.
There are quite a number of people that are concerned about the best trading platforms to use for their transactions. There is no need to worry about that.
This article will highlight some of the top and best cryptocurrency exchange platforms you can use for trading. There are a lot of other platforms out there, and finding the best should be the aim. Below is a streamlined list of five cryptocurrency trading platforms that are safe and trusted.
This is the most recommended trading platform for both beginners and experts. The platform is a P2P escrowed marketplace that makes buying and selling of cryptocurrency and trading to local currency easier and faster. You are connected with buyers or sellers (depending on what you want to do), and the transaction goes on safely.
Coinbase is one of the best platforms for trading. It is highly secured and easy to use for trading leading cryptocurrencies like Bitcoin, Ethereum, and others. Coinbase has APIs that allow developers to link with third-party apps and trading platforms. Coinbase is on this list because it is easy to use, highly secure, and fees are low.
Kraken is on the list because it is an old and consistent cryptocurrency platform that allows funding from diverse options. This platform is super cool for beginners because it makes the onboarding process easier.
BItfinex is a good platform for all trading necessities. If you are already learned and good with trading, you will find this cryptocurrency exchange valuable. Beginners might find the interface complicated, but it supports different cryptocurrencies.
This is a reliable platform for multiple cryptocurrencies. You can also make deposits from your local bank (credit card or any other option that suits you). The multiple payment option and high security, state compliance with regulatory organizations are top reasons why you should consider the platform. You can also track your investments with their developed reports.
What makes cryptocurrencies ideal for trading
The primary reason why cryptocurrencies are ideal for trading is because of the fluctuations. There are cases where you’ll have more profits due to the price when you bought the cryptocurrency, and you experienced an increase in the long run (that means you’re making a profit). Also, the opportunity to buy cryptocurrencies when they’re cheaper or at the prices that are convenient for you and sell off when you realized they’ve increased in value makes cryptocurrency ideal for trading.
It is an undisputed fact that the income coming from crypto trading might not be as huge as you might have envisaged, however, the more the value of the cryptocurrency you’re holding or trading, and the longer you hold your cryptocurrency, the more your chances of cashing out big.
The price is influenced by the economic factor of demand and supply. This is what the cryptocurrency traders use in balancing their portfolio. Cryptocurrency is just a different and unique investment form or opportunity.
Now that you understand everything about crypto trading, you can learn how to begin cryptocurrency trading in 2020.
The Best ETF Brokers
In layman’s terms, ETFs allow you to own multiple underlying assets, rather than one.
Exchange-traded funds, or better known as ETFs, are baskets of securities that trade on an exchange, similar to stock. Their share prices fluctuate daily as they are bought and sold and can contain all types of investments. The reason why ETFs are so popular is that they offer low expense ratios and fewer broker commissions than buying stocks individually.
In layman’s terms, ETFs allow you to own multiple underlying assets, rather than one. Thanks to that fact, they have become extremely popular. With all that being said, we wanted to provide you with some of the best ETF brokers on the market which can help you make the right decision and invest smartly. We are also going to name the types of ETFs as a way to get you more familiar with this type of investing.
Types of ETFs
Let’s start with the types of exchange-traded funds first. There are 5 main types of ETFs which are used for income generation, price increases, speculations, etc. The first type is bond ETFs which include corporate bonds, municipal, and government bonds. They are well-known for their transparency pricings, something that was only available to institutional investors.
Next up, we have industry ETFs which track a particular industry, like oil, banking, gas, or technology. These ETFs have a high level of liquidity, which means that there are rarely any tracking errors. Commodity ETFs are used to invest in physical goods like natural resources and precious metals. They are usually focused on a single commodity or investments in future contracts.
Currency ETFs are used to invest in foreign currencies as the name of the ETF suggests. These investments allow ordinary people to gain exposure to the forex market. Finally, inverse ETFs are constructed by using derivatives to profit from a decline in the value of an underlying benchmark.
Now that we’ve got the types of ETFs covered, let’s check out which are the best brokers in this field. While the full list of ETF brokerages contains more companies and it is worth a look, we are going to check out the top three competitors.
eToro is often regarded as the best ETF broker in the UK. It is home to homer 13 million traders from all around the world. One of the biggest benefits that you will experience with eToro is the chance to invest on a commission-free basis. To make things even better, eToro does not charge you with any ongoing maintenance fees and the company puts a massive highlight on its user-friendly service. eToro has multiple accepted payment methods that include credit cards, debit cards, bank transfers, and certain e-wallets.
Next up, we have Libertex, a platform that is very easy to use, which is a great benefit, especially for new investors. Not only that, but the minimum deposit at this platform is lower than the competition, which adds a lot of flexibility to you. The commission fees are pretty low, it comes with a mobile app, supports MT4, it is secure and trustworthy, and supports multiple payment methods, including PayPal.
Libertex allows people to trade ETF CFDs with 0% spreads.
Lastly, we have a company that provides you with an alternative way to access the multi-trillion ETF industry. With Plus500 you can speculate whether certain ETFs will increase or decrease in value, rather than owning the assets. With it, you will experience certain benefits with Plus500 that you cannot find in the old-school brokerages. Not only that, but you also don’t pay any commission fees when using their services.
If you plan on registering at this site, the process of opening an account and depositing money lasts just a minute. Due to its advanced system, Plus500 is the perfect choice for the more experienced traders.
Things to Remember
Of course, when deciding to invest and when picking the right ETF brokerage company, it is important to know your needs. Be honest with yourself and your goals. If you are new to the game, you should place your focus on educating yourself first. After you get educated on the topic, you must start narrowing your field.
As you saw, there are plenty of options and industries to invest in. Spend some time to see which industry suits you the most. Figuring out what the fees for using brokerage firms are is also an important step. Finally, test the brokerage platform that you choose and get familiar with the process of depositing and withdrawing funds. That means finding out what is the minimum deposit and withdrawals, how fast are the transactions, what are the accepted payment methods, etc.
Betway donates newly-built borehole to the Ojuelegba community
Betway is expected to use the Ojuelegba borehole project as a blueprint for future projects in communities throughout Nigeria.
Leading online sports betting provider, Betway, has reaffirmed its commitment to local communities throughout Nigeria with the donation of a newly-built borehole to the Ojuelegba community of Surelere, Lagos.
Having recently opened the Betway Hub at No.3, Funsho Willams in Surulere, Betway identified the lack of clean drinking water as challenges facing the local community. In accordance with its commitment to give back to the communities in which it operates, the betting provider approached the Surulere local government to request permission to construct a borehole.
Speaking at the unveiling of the borehole, Betway Nigeria Country Manager, Lere Awokoya thanked local officials for supporting the project.
“Giving back to communities within which we operate is customary for us at Betway and we are delighted to make a positive contribution to Ojuelegba by providing access to clean water which is a major challenge within the community. We extend our thanks to the CDA Chairman, the CDC and the Federal Fire Service Surulere for their support in making this give-back happen.”
The unveiling was also attended by Mobolaji Mesuoye who represented the Surulere Local Government, Wemimo Odumosu, CDC Chairman, Ibukun Adebanjo of the Lagos Lottery Board, representative of the National Lottery Regulatory Commission, Mrs Nwaochei Genevive, Area Commander of the Federal Fire Service, FS Adamu Emmanuel and community leaders.
All in attendance expressed gratitude to Betway for their contribution to the community and urged others to follow suit.
“We have been clamouring for this kind of assistance,” said Wemimo Odumosun from the CDC Project Monitoring Committee. “I must tell you that what Betway has done today is worthy of emulation and I urge other corporate bodies and private organisations to come to the aid of communities within which they operate. This is a laudable project and I congratulate Betway for this”
“This project simply means Betway are not only here for profit, but to also impact on the community where they reside,” said Ibukun Adebanjo of the Lagos Lottery Board. “This is a great step. It is an action that ought to be emulated and celebrated. I think other companies should buy into this and be a part of it.”
Betway is expected to use the Ojuelegba borehole project as a blueprint for future projects in communities throughout Nigeria. Although the company’s focus has been developing and supporting sporting talent in the country, it understands that nurturing communities allows for an environment conducive to excellence.
The newly-established Betway Hub offers a safe and fun space for Nigeria’s passionate sports fans to experience the brand’s sports betting experience. It will provide access to various services including after-sale support, customer resolution, betting services, match viewing, free WiFi, gaming and more.
About the Betway Group
The Betway Group is a leading provider of first-class entertainment across sports betting and casino. Launched in 2006, the company operates across a number of regulated online markets and holds licences in Kenya, Uganda, Ghana, South Africa, Zambia, Mozambique and Nigeria.
Betway prides itself on providing its customers with a bespoke, fun and informed betting experience, supported by a safe and secure environment.
For more information about Betway please visit: www.betway.com.ng
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