Ethereum – A Simple Beginner’s Guide for You Who Want to Start Trading Ether
The post Ethereum – A Simple Beginner’s Guide for You Who Want to Start Trading Ether appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
In the past few years, more and more people have become interested in the world of cryptocurrencies. It is safe to say that the introduction of cryptocurrencies about a decade ago started a financial revolution. Ever since, the world of cryptocurrencies has grown and more people have discovered the benefits of buying, investing and trading cryptocurrencies. The most popular cryptocurrency is without a doubt Bitcoin while the second-biggest by market capitalization is Ethereum and its asset, Ether. Ethereum launched back in 2015 which is about six years after Bitcoins were introduced to the world. Ethereum is actually not a cryptocurrency, but a blockchain. So when people are talking about buying or trading Ethereum, they are actually talking about Ether which is the cryptocurrency of the Ethereum blockchain. You can find out how to buy Ethereum on MrCrypto.io (Swedish language) and then you can read the article below where we have provided a simple beginner’s guide for you who want to start trading Ether.
What is Ethereum and Ether?
About six years ago, Ethereum was launched. Ethereum is not a cryptocurrency like we know Bitcoin is, but Ethereum is a blockchain platform where other applications can be built upon the platform. If you are interested in buying, investing or trading Etherum, you need to do it with Ether which is the cryptocurrency of the Ethereum blockchain. You can actually use Ether for several purposes. You can both use it as a cryptocurrency like Bitcoins where you buy, trade or invest in Ether, but you can also use it to transact with Ethereum applications.
Basic Trading Strategies
If you want to get started on trading Ether, it is important that you have some knowledge about the basic trading strategies. Basically, there are two main trading strategies. There is either holding or active trading. Holding is definitely the most simple trading strategy, and it might be a good idea to start using this if you are a beginner. Holding is considered to be a long-term strategy because you buy stocks in strong companies where you are almost guaranteed to gain profit because the company will slowly, but steady, grow in value. Active trading, on the other hand, is a more risky trading strategy or it is at least a requirement to have more knowledge and experience about the cryptocurrency market in order to be able to use this trading strategy properly. If you are about to start trading Ether for the first time, we definitely recommend you to use the holding strategy.
How to Become Successful
When you want to start trading Ether, it is a good idea to know more about how to become successful at trading Ether. First of all, it is crucial that you do proper research before you even think about starting trading Ether. It is not only crucial to do research about Ether, but you should also do research about the general market. Second of all, it is a good idea to always be one or two steps ahead of the market if you want to become a successful trader, and then you should never spend more money than you can afford to lose.
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