Beginner Crypto Tutorial
Beginner
What is Cryptocurrency?
Cryptocurrency is a digital form of currency. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically based on blockchain technology. A blockchain is a distributed ledger enforced by a network of computers (nodes), which ensures transparency and security. The first and most well-known cryptocurrency, Bitcoin, was introduced in 2009 by an […]
Lesson 1 of 10 | 1 Min
Beginner
How do you trade Cryptocurrency?
In cryptocurrency trading, currencies are traded in pairs, similar to forex trading. A currency pair consists of two currencies, with one being the base currency and the other the quote currency. For example, in the BTC/USD pair, Bitcoin (BTC) is the base currency, while the US Dollar (USD) is the quote currency. The price of […]
Lesson 2 of 10 | 5 Min
Beginner
Choosing a Trading Platform
A trading platform is essential software that enables trade execution, market analysis, and account management. When choosing a platform for Cryptocurrency trading, prioritize a user-friendly interface, reliable performance, and access to vital trading tools. Popular options MetaTrader 5 (MT5), cTrader, and TradingView are favored for their robust features. These platforms offer advanced charting tools, technical […]
Lesson 3 of 10 | 5 Min
Beginner
When can you trade Cryptocurrency?
One of the appealing aspects of cryptocurrency trading is that it operates 24/7, unlike traditional stock markets or forex markets that close for extended periods of time like over the weekend. This continuous availability means traders can buy and sell cryptocurrencies at any time, allowing for greater flexibility and accessibility. The round-the-clock trading is primarily […]
Lesson 4 of 10 | 5 Min
Beginner
Liquidity & Volatility
Liquidity and volatility are two essential concepts in cryptocurrency trading that can significantly influence trading strategies and outcomes. Liquidity refers to the ease with which an asset can be bought or sold in the market without affecting its price. High liquidity means there are enough buyers and sellers at any given time, allowing trades to […]
Lesson 5 of 10 | 0 Min
Beginner
Pips and Lot Sizes
In cryptocurrency trading, understanding pips and lot sizes is essential for effective risk management and trade execution. Although these terms are commonly associated with forex trading, they can also apply to crypto markets, albeit with some variations. Pips represent the smallest price movement that a currency pair can make based on market convention. In cryptocurrency […]
Lesson 6 of 10 | 0 Min
Beginner
Leverage & Margin
Leverage allows traders to control a larger position than their initial investment by borrowing funds from a broker or exchange. For example, if a trader uses 10x leverage, they can control a position worth $10,000 by only depositing $1,000 as margin. This magnification of exposure can lead to substantial profits if the market moves in […]
Lesson 7 of 10 | 5 Min
Beginner
How to choose a Cryptocurrency Broker?
Choosing a cryptocurrency broker is a critical step for traders looking to enter the cryptocurrency market. Here are key factors to consider when choosing a cryptocurrency broker. 1. Available Cryptocurrencies: Different brokers offer various cryptocurrencies for trading. If you have specific coins in mind, ensure that the broker supports those assets. 2. Trading Fees: Understand […]
Lesson 8 of 10 | 5 Min
Beginner
Demo vs. Live Trading
Demo and live trading are two important stages for cryptocurrency traders, each with its own benefits and challenges. Knowing the differences can help traders improve their skills and make better decisions. Demo Trading Demo trading lets traders practice in a simulated environment without risking real money. Most brokers offer demo accounts that mimic live market […]
Lesson 9 of 10 | 5 Min
Beginner
Risk Management
Effective risk management is crucial for successful cryptocurrency trading, especially given the market’s volatility. Implementing strong strategies can protect your capital and minimize losses. Setting Risk Tolerance: Define how much risk you are willing to take per trade and overall. A good rule of thumb is to risk only 1-2% of your capital on a […]
Lesson 10 of 10 | 7 Min