You will be able to find all you need to know about exchanges here (or in one of the submenus.
We will be covering buying, selling, trading, stop losses and more.
There are a lot of exchanges and it seems like there are popping up more every other week. There is a lot of money going on in Exchanges if they take a small fee for every trade people make.
Unfortunately not all coins are traded on every exchange so you will have to do some investigation about this. If you are completely new in the world of cryptocurrency and exchanges I advise you to be real careful and start with a small amount of money.
Remember; you are your own bank in CC and if you make a mistake the chance is real you will lose your money (or some).
I myself use a growing number of exchanges simply because I hold a lot of different coins and as I wrote before, not all coins are trade-able on all exchanges.
The exchanges I use most are in no particular order;
First of all you need to register if you want to trade, this is in most cases a very easy process but you need to remember that failing to log in to an exchange could result in a loss of money.
Example; on Binance your logon is your mail address, a friend of mine got her mail address blocked by Microsoft (outlook.com) and is now unable to trade on Binance. So be careful!
Second you need to be sure your account/password could get an extra boost in security by using 2FA (google it if you have no idea what this is). I recommend the Authy app for this. But again be careful, changing your phone without proper recovery from 2FA apps could result in failing to logon as I wrote earlier and you now know what that means! So be careful!
Now that you got everything settled we can start to trade, because that is what you do on an exchange.
Most of the trading pairs are BTC/xxx ETH/xxx Doge/xxx LTC/xxx this means you need either Bitcoin, Ethereum, Dogecoin or Litecoin first to be able to buy other coins.
If you live in The Netherlands like me you can buy Bitcoin at Bitonic and send the coins you bought to a wallet (either on your device of choice, a hardware wallet or an exchange). Use Bitonic here
more to come…