Cryptocurrencies - how to start?

Are you fascinated by cryptocurrencies and wondering how to start earning with them? Read our guide for Bitcoin, Litecoin and other beginners alternatives to Bitcoin. How cryptocurrencies work, how to buy them and how to check cryptocurrency rates? All questions will be answered by Bitclude experts - the fastest Polish cryptocurrency trading platform!

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What is cryptocurrency?

A cryptocurrency system is similar to online banking, but cryptocurrency rates are fully regulated by the supply and demand market - there is no external institution that would regulate the exchange or supervise cryptocurrency trading. Cryptocurrency mining is based on blockchain technology, thanks to which it is possible to store transaction data, identify user account numbers and verify transactions. To transfer cryptocurrencies, just set up your wallet and enter the data for the 'transfer' - the account number and the amount of cryptocurrency (similar to online banking). Do you want to learn more about the technology of creating cryptocurrencies? Read our article ' What is blockchain?'.

What are cryptocurrencies for?

How do cryptocurrencies work and what can you do with them? First of all, they are means of payment - of course, provided that the seller accepts this form of payment. Cryptocurrencies are also invaluable in the case of payments or international transfers - the funds are on the recipient's account in just a few minutes (much faster than in the case of a traditional online bank transfer), regardless of the day of the week, and we do not have to pay currency conversion costs.

Cryptocurrencies have been listed on financial exchanges for several years now and are a speculative measure. Many investors choose to trade cryptocurrencies and receive either traditional fiat money or some other cryptocurrency in return.

How to start investing in cryptocurrencies?

To start investing in cryptocurrencies, it is worth setting up an account on a special internet platform an exchange or Bitcoin exchange and other cryptocurrencies. Thanks to this, after verifying your data, you will be able to buy your first cryptocurrencies, for which you will pay, for example, with a quick transfer. Investing in cryptocurrencies may consist of:

  • buying cryptocurrencies and selling them when the price rises,
  • storing cryptocurrencies in a secure wallet long-term,
  • mining cryptocurrencies with powerful computing devices.

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Inexperienced?

You have no experience? Remember that you don't need to invest in large amounts of cryptocurrencies or buy full cryptocurrencies. To find out how they work, it is enough to buy, for example, a fraction of bitcoin and then carefully observe the market. Do not forget that this way you can not only gain but also lose, so think carefully about your transactions.

How to check cryptocurrency quotes?

Nowadays, you don't need to become a financial expert to find out how to invest in cryptocurrencies. Many trading platforms also allow you to quickly check the Bitcoin rate or include graphs showing cryptocurrency quotes. The horizontal axis shows a specific time range (daily, monthly, yearly) and the vertical axis shows the course height.

How to start investing in cryptocurrencies? Only with Bitclude!

You have no experience? Remember that you don't need to invest in large amounts of cryptocurrencies or buy full cryptocurrencies. To find out how they work, it is enough to buy, for example, a fraction of bitcoin and then carefully observe the market. Do not forget that this way you can not only gain but also lose, so think carefully about your transactions.

Also read:

Which cryptocurrency exchange to choose?

Jaką giełdę kryptowalut wybrać?

Read and find out which cryptocurrency exchange is best to choose

Bezpieczeństwo w sieci blockchain

Bezpieczeństwo w sieci blockchain

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Analiza techniczna Bitcoin

Analiza techniczna Bitcoin

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