Want to jump straight to the answer? If you are ready to start investing in the crypto market and trading cryptocurrency, but aren't sure of the first steps to take when investing in cryptos according to our experts you should follow those easy steps:

  • Step 1: Get hold of a cryptocurrency brokerage account.
  • Step 2: Fund your crypto trading account.
  • Step 3: Pick a cryptocurrency to invest in.
  • Step 4: Choose a trading strategy.
  • Step 5: Store your cryptocurrency.

If you are fascinated by cryptocurrencies and intrigued to get hold of some as they become more mainstream and widespread, perhaps the time has come for you to consider cryptos as your next investing move. This being said, and though indeed potentially highly lucrative, cryptocurrency trading is also risky and their market extremely volatile, while their trading is not as easy or as easily available yet, as that of other financial instruments. Cognizant of the particularities of crypto trading and the challenges posed by the endeavor, our team has conjured up useful guides to help beginners understand why, how and where to start trading cryptos, covering all the essential aspects for a successful cryptocurrency trading endeavor.

Coin Guides

Since the first Cryptocurrency, Bitcoin, emerged over a decade ago, thousands of other cryptos or “altcoins” are now up for grabs and picking the best one to buy might be difficult, confusing and tricky. Our Crypto Coin Guides further explore the most popular cryptocurrencies available to help you choose which one or ones, is right and most suitable for you to choose to best meet your needs and aims.

The Pros and Cons of Investing in Cryptocurrencies

The main advantage of cryptocurrency investments is the potential for very high returns and gains due to the high volatility associated with the crypto market and ecosystem. The opposite side of the same argument however, is that this high volatility means a much greater risk for incurring losses, and this excessive risk is the main disadvantage of investing in cryptos. If you have a high tolerance and appetite for risk then cryptos are really suited to you, and obviously not appropriate for risk averse investors.

Cryptocurrency Trading Steps

If you have already decided to start trading cryptocurrencies, here are the five main steps you should follow:

Step 1: Get hold of a cryptocurrency brokerage account.

To be able to trade cryptos you will need to open an account with a brokerage or exchange which caters for this type of trading. Fortunately, due to the boom and high popularity of cryptos, prospective investors have a plethora of brokerages and exchanges offering crypto trading services to choose from. When choosing your own crypto trading service provider look for ones that offer you a wide variety of crypto choice available for trading, through a user-friendly and reliable interface and platform.

Opening a crypto trading account requires you to submit your personal details, similarly to when opening an account for other investments, such as in stocks or forex. Moreover, you will be required to also supply identity verification information and proof.

Step 2: Fund your crypto trading account.

Once your crypto trading account is set up, you will then need to fund it to be able to trade. For funding purposes, most crypto brokerages and exchanges accept a variety of funding methods, such as debit and credit cards and bank wire transfers.

Step 3: Pick a cryptocurrency to invest in.

The most popular cryptocurrencies chosen by most crypto traders are Bitcoin and Ethereum, which have been around for a longer time and their price movements are more predictable than those of lesser-known, smaller altcoins. This increased predictability means that technical indicators may be easier to use to guide investment decisions.

Risk tolerant crypto investors, often direct their trading to smaller altcoins, due to the higher potential for gains they offer, which make them very attractive investments. However, due to the higher associated risk, smaller altcoins are usually avoided by novice traders.

Step 4: Choose a trading strategy.

When buying and selling cryptocurrencies, traders are advised to take into account several different trading indicators to be able to devise their trading strategies effectively and successfully. Complete novices may benefit from dedicated crypto trading courses, while seasoned traders often rely on the strategies they already use with other investment types, such as investing in stocks. Since crypto are speculative assets, some strategies are more suitable than others, and one such strategy is the Elliott Wave Theory, which centers around the psychology underpinning market sentiment.

Step 5: Store your cryptocurrency.

Storing your crypto assets on your trading exchange makes sense if you are an active day trader, since you will be needing constant access to your funds. However, if you are buying digital cryptocurrencies to hold them in the medium and longer term, it is imperative that you get your own cryptocurrency wallet, since digital currencies may only be stored in either software wallets or hardware wallets. As a general rule, hardware wallets are safer than software wallets, as your crypto is actually stored on a physical device that you have full control over, while hardware wallets, as opposed to software wallets, work entirely offline and are thus immune from online threats, such as hackers.

The Best Crypto Exchanges in 2021

4.7 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
90%
4.5/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
100%
5.0/5
Support
88%
4.4/5

Things we liked:

 One of the most trusted brands in crypto
 Very fast, easy to use interface
 Binance offers extremely low transaction fees

Things we didn't like:

 Can be overwhelming for people who are new to crypto or trading

4.2 / 5

Rating breakdown

Security
100%
5.0/5
Ease of Use
80%
4.0/5
Tradable Assets
60%
3.0/5
Deposit and withdrawal
80%
4.0/5
Trading Fees
80%
4.0/5
Support
100%
5.0/5

Things we liked:

 Instant Bitcoin transactions with 0% fees
 Intuitive platform, great for new traders
 Available on desktop and mobile

Things we didn't like:

 No option for phone or email customer service

View All Crypto Exchanges

The Best Crypto Trading Platforms in 2021

How to Buy Crypto with Credit or Debit Card on TradeOr

4.7 / 5

Rating breakdown

Security
90%
4.5/5
Ease of Use
100%
5.0/5
Tradable Assets
80%
4.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
100%
5.0/5
Support
90%
4.5/5

Things we liked:

 Zero commission policy
 Customers support is available 24/7
 Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 No demo account
 TradeOr offers only one payment method – bitcoin

How to Buy Crypto with Credit or Debit Card on OspreyFX

4.0 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
80%
4.0/5
Tradable Assets
80%
4.0/5
Deposit and withdrawal
80%
4.0/5
Trading Fees
80%
4.0/5
Support
80%
4.0/5

Things we liked:

 Accepting US Clients Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 Absence of a direct telephone number for customer support
 Ospreyfx is not a fully licensed and regulated broker

How to Buy Crypto with Credit or Debit Card on eToro

3.8 / 5

Rating breakdown

Security
90%
4.5/5
Ease of Use
80%
4.0/5
Tradable Assets
80%
4.0/5
Deposit and withdrawal
60%
3.0/5
Trading Fees
60%
3.0/5
Support
80%
4.0/5

Things we liked:

 eToro offers commission-free stock and ETF trading in Europe and offers low fees for non-EU clients.
 Account opening is fast and seamless.
 It has innovative features like social trading that lets you copy others.

Things we didn't like:

 eToro has unreliable customer service, and its trading platform freezes sometimes.
 Education tools are very limited.

Best Crypto Brokers

Cryptocurrency Buying Guides

Cryptocurrency Buying Guides: Buying Crypto in 2021

It’s getting easier and easier every day to buy cryptocurrencies. In the guides, we break down all the elements involved in buying cryptocurrencies so you can make an informed decision, since the dedicated guides you can find in this section of our education resources help you explore the main cryptocurrencies available, the main payment methods you can use to obtain them and what applies for crypto trading in different countries.

How to Buy Bitcoin - Start investing on BTC

Ultimate Guide on How to Buy Bitcoin - Start investing on BTC

This ultimate guide on the purchase of Bitcoins, covering every aspect and aiming to equip you with all the necessary knowledge and information to be able to decide which are the best options for you. Read through and gain the insight and confidence to start investing in Bitcoin today! As Bitcoin was the first cryptocurrency to emerge and remains today the most popular one, it is usually the best crypto especially for beginners. This guide explores and presents the Bitcoin buying journey, while highlighting other important aspects of the endeavor, such as the safety, security and privacy of Bitcoin trading transactions.

buy cryptocurrencies with Credit card or Debit Instantly

How to buy cryptocurrencies with Credit card or Debit Instantly

In the recent past, using a credit or debit card to buy cryptocurrencies was almost entirely impossible, meaning that interested individuals had no convenient and fast method to pay for such transactions. Luckily, the process of buying cryptocurrencies with a bank card has nowadays been made easy and smooth primarily due to the emergence of online crypto exchanges that serve most regions of the world and accept debit and credit cards as a method of payment. Clarifying the main points to consider and aspects to be aware of, before proceeding to buy crypto using your credit or debit card, our dedicated post allows you to be able to use the fast and convenient method of buying Bitcoins and other cryptocurrencies using a debit or credit card, while highlighting that to do so you will first need to find the right, reliable crypto exchange or service provider to open an account with and ensure that, according to where you live and which cards you have, it will be possible to make such a transaction.

How To Buy and Sell Bitcoin In The UK

The ultimate guide on How To Buy and Sell Bitcoin In The UK

If you are looking for information for buying Bitcoin, the oldest and most popular cryptocurrency around, in the UK, this guide is the sole source of information and guidance you will need. Do not worry if you are new to Bitcoin and do not exactly grasp all the principles and technology that underpin this digital asset class, as our resident team explains in a clear and comprehensible manner how you can buy, sell or hold Bitcoins, and other altcoins, in the liberal crypto market that is the UK, where cryptocurrencies are gaining in momentum and popularity.

best forex brokers for bitcoin crypto trading

Best Forex Brokers for Bitcoin and Crypto Trading in 2021

In an attempt to help steer you in the right direction when it comes to your crypto trading endeavors, this post discusses the option of doing so via forex brokers, trying to discern how you can better identify the best forex brokers for crypto trading amongst those currently offering this service. Scammers as well as high volatility render the crypto trading niche massively risky and it is thus important for interested traders to seek ways to mitigate such risks. A good way to do this is choosing their providers carefully and after factoring-in many parameters, while also resorting to diversification to minimize their exposure. After reading this post, you will be in a better position to confidently choose the best forex broker for your Bitcoin and crypto trading endeavors.

Though on the rise and booming, cryptocurrency trading is still not as widespread as other types of financial trading and definitely less readily available, except in a few countries across the globe. However, as more cryptos are being created and as their usage as real alternatives to fiat currencies and acceptable means of payment for any transaction continues to grow, their trading is bound to be further consolidated and facilitated. Learn all about cryptocurrency trading to be able to identify and pursue the many lucrative opportunities to be had through the trading of digital currencies, as a form of investment.

Getting Started with Crypto

Most Popular Cryptos and Altcoins

Learn more about the most Popular cryptos and altcoins worthy of investment based on reputation, historical price and more.

Best Cryptocurrency Wallets

Learn how you can protect and store your Bitcoin, Ethereum and other altcoins.

Best Cryptocurrency Apps

Discover the best crypto apps you can use on your iPhone or Android phone, based on security, data, availability and more.

Best Cryptocurrency Trading Simulators

Enter the stock and crypto market with added confidence through the experience gained by using a risk-free simulator!

Best Cryptocurrency Exchange

Learn more about the best cryptocurrency exchanges to buy, sell, and trade your coins. The reviews and rankings facilitate your quest for the most suitable crypto exchange based on security, fees, and more.

Best Cryptocurrency Brokers

Best Crypto brokers reviews and rankings based on reliability, fees and more. Bitcoin brokers selected to meet the needs of differing cryptocurrency trading and investing styles.

Best Bitcoin Debit Cards

Find out all there is to know about online Bitcoin Debit Cards and begin your crypto journey armed with confidence and solid knowledge.

Interested to open a Forex Brokerage Business?

If you are thinking to become a Forex broker and Start Your Own FX Brokerage our TurnKey White Label Trading Solutions & Services are exactly what you need.

Talk to the Team

Bitcoin Cryptocurrency Trading FAQs

Can A Beginner Make Money through Cryptocurrency Trading?
There are currently several thousand different cryptocurrencies around, valued at almost 900 billion USD. Being highly volatile as trading assets, trading in cryptos can indeed bring in huge profits, and there is no reason why a beginner cannot be able to receive some hefty gains from their crypto trading transactions. However, cryptos are far riskier than other financial instruments and thus beginners trying their hand at this type of trading are also much more vulnerable to suffering huge losses suddenly and quickly.
How do I buy cryptocurrency?
As a general rule, you can buy cryptocurrency in three broad ways, the first is through a peer to peer transaction, i.e. from another person in possession of crypto, through an ATM which offers crypto, though those are scarce and almost exclusively located in the USA, or finally through crypto currency exchanges, usually online or brokers that offer cryptocurrency trading alongside their other services. Since cryptocurrencies are digital currencies, it is essential that you also have an electronic wallet, where you can store your crypto once you buy.
Are cryptocurrencies legal?
It is true that cryptocurrencies, as a digital alternative to fiat currencies, have often been associated with sinister transactions, while the field of cryptocurrency transactions is often plagued by fraudsters and crooks. Moreover, cryptocurrency trading is a highly risky venture due to their extreme volatility, while hackers are always trying to compromise the security of such transactions and steal away your funds. This being said, in most countries across the globe the usage of cryptocurrencies as a transaction medium is perfectly legal, while other countries have yet to regulate the field. How you can obtain and use cryptos however, still largely depends on your location, since for example you can legally and easily use and trade cryptos in the USA, but not in China for example.
When is the best time to trade bitcoin?
The cryptocurrencies market operates round the clock and round the year, meaning it is a 24 hour a day, seven day a week market. This being said and though you can trade at any time, some hours are better than others for trading purposes since they offer both increased volatility and increased liquidity. At such times, trading is riskier but also comes with a higher profit potential. An example of such time, where increased volatility is often experienced, is at 12pm UK time, when both the UK and US markets are available for trading.
What online brokers offer cryptocurrencies?
What online brokers offer cryptocurrencies? Demand for cryptocurrency trading has rapidly increased as more cryptocurrencies are launch and their usage is becoming more widespread. Consequently, many dedicated online crypto exchanges have emerged, while many established online retail trading brokerages have started addling the trading of cryptos to their offering to satisfy their clients and also enable them to further diversify their trading portfolios. To find out more about such online forex brokerages you could consider, you can access our dedicated post here.