Cryptocurrency Trading

A cryptocurrency is a digital currency that is represented by an encrypted data string. A peer-to-peer network known as a blockchain oversees and organizes it,
as well as serving as a secure database of transactions such as buying, selling, and transferring. Popular cryptocurrencies include Bitcoin, Eth and may more.

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What is Cryptocurrency Trading?

A cryptocurrency is a digital currency that is represented by an encrypted data string. A peer-to-peer network known as a blockchain oversees and organizes it, as well as serving as a secure database of transactions such as buying, selling, and transferring. Popular cryptocurrencies include Bitcoin, Eth and may more.

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Advantages Of Cryptocurrency:

  • Big risk, but also high potential returns
  • The cryptocurrency blockchain technology is inherently safe.
  • The financial system of cryptocurrency is more transparent.
  • Another advantage of cryptocurrencies over banks is that they are constantly open markets.
  • Cryptocurrencies may be able to assist investors in avoiding inflation.

Guide For Beginners For Cryptocurrency Trading:

Here are a couple of important things you should know before investing in cryptocurrency.

Capital Gains Tax: Cryptocurrency is treated as an asset, similar to a stock or a piece of real estate, for tax reasons. When you sell cryptocurrency for a profit, you must pay capital gains tax on the profit. Keep this in mind when you plan your year’s budget and prepare for taxes.

Short-Term Investing: Because bitcoin is such a volatile asset, many investors view it as a short-term rather than long-term investment. It’s likely that bitcoin will become a solid investment in the future, with long-term holdings yielding large profit.

Endorsements: When celebrities or corporate leaders advocate Bitcoin, it attracts a bigger number of buyers.

Press: Bitcoin becomes more widely known as a result of a film, article, or journalistic piece, resulting in a rise in purchases.

How to make profits from Cryptocurrency:

  • Understand what a blockchain is and how it works
  • Know about the cryptocurrency you want to make money on
  • Learn about the exchanges
  • Yes, the cryptocurrency market is highly volatile.
  • You cannot expect to become a billionaire in a fortnight.
  • Making money in the cryptocurrency market has a lot to do with technical analysis.
  • No wonder the cryptocurrency market is highly volatile which is why you need to look out for ways to minimize the risks involved in trading cryptocurrencies.
  • Just like our money held in the savings account with banks earns interest, you can earn interest on cryptocurrencies as well.

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Learn more about stocks

Our knowledge section has info to get you up to speed and keep you there.

What is Equity trading?

Traders can trade stocks on the equity market. Public and private stocks are available to investors. Unlike private stocks, which are traded privately, public stocks are traded on exchanges. When a company is formed, it is initially private before launching an IPO.

What is a dividend?

A dividend is a payment made by a corporation to its stockholders, usually out of its profits. Dividends are typically paid regularly (e.g., quarterly) and made as a fixed amount per share of stock—the more shares you own, the larger the total dividend payment you’ll receive.

What is Income Tax?

Income tax is a type of direct tax that a government imposes on its people’ earnings. The central government is required to collect this tax under the Income Tax Act of 1961. Every year in its Union Budget, the government can adjust the income slabs and tax rates.
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