Cryptocurrency Trading: What Should I Know?

Against the backdrop of the large-scale war, looming economic crisis, and increased inflation, many people ask how to store money safely and what assets to buy. The war in Ukraine provoked an increase in crypto transactions.

The fact is that when it comes to donations to support Ukrainians, people face difficulties, for traditional ways to send money using banks work slowly and ask for low fees. And in this question, time really matters, for every day lost is someone’s life. So Ukraine’s and not only Ukraine’s crypto community increased, and people started to use crypto for fast and cheap money transfers worldwide.

And it really worked. Over three months of the war, the total amount of crypto donations for Ukraine exceeded $100 million. So the war and crisis increased the adoption of crypto and the number of transactions.

There are some ways to use crypto:

  • You can buy large-cap assets and hold them long term
  •  You can stake crypto and receive passive income
  • You can trade crypto using a cryptocurrency trading platform.

Trading means you buy and sell digital assets, taking advantage of crypto rates difference.

How to Trade Cryptocurrency?

There are some popular methods of trading cryptocurrency:

  • Intraday trading (a trader enters and leaves the position in the market within one day)
  • Scalping (taking advantage of crypto rates fluctuations from a couple of minutes to 15
  •  Swing (trades last up to a few weeks)
  •  Position trading (takes from a few weeks to a few months).
  • Arbitrage (using several platforms at once).

Beginner traders may take advantage of demo trading options that some crypto exchanges offer. For example, Coinbase and WhiteBIT provide users with demo accounts where they can practice without risking their own funds. It is an important option allowing users to understand how trading tools work and choose the most suitable strategy.

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