keepitsimple guide to
"trading-crypto"
today
Trading is much simpler than it sounds. But its of course a bit more involved than just buying and owning some crypto.
Note
Hot Tip
Not everyone should "trade." It requires investment of time, effort, funds and reasonable risk appetite.
Trading is simply buying and selling crypto on a regular basis so if you have read our "Get Some Crypto" guide you are halfway there...
However there are platforms specifically geared towards trading which involves more frequent buying and selling than just buying and holding for a period of time.
Choose a crypto trading platform and sign up
Step 1
Hot Tip
Main difference we've seen has been trading fees. We view 0.1% or less of txn volume as reasonable
There are many platforms that allow you to "trade" crypto. They include:
-
Binance US (Personal Favorite)
Choose and sign up for one or more of these platforms
Fund your account on the platform
Step 2
Hot Tip
We prefer platforms that use a provider like plaid to connect to bank acct as it makes moving funds quicker
1. Once you've signed up, the platform will require you to fund your account in some way. This anything from..
-
connecting a bank account through a partner called Plaid
-
to wiring funds to a specific bank account specified by the vendor
-
to funding via a debit card
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to funding by sending crypto from your wallet or another platform to the trading platform
Choose a crypto and trade away!
Step 3
Hot Tip
Cryptos values change drastically in a very short time period. You can gain or lose a lot in a short period
The major cryptocurrencies (BTC and ETH) are usually available on most platforms. Once you go beyond these to other cryptos like BNB, CAKE, AAVE, MANA, XRP etc their availability will vary by platform.