Cryptocurrency is virtual money that is exchanged online. Cryptocurrencies exist exclusively in the form of data, without physical form: bitcoin or ether cannot be touched or put in a safe. Owning bitcoins means that there is some kind of general international agreement confirming that this amount of bitcoins was created by a legitimate miner and is currently owned by you.
Cryptocurrencies function just like regular money, but they need to be mined like gold. In fact, mining is the process of verifying a cryptocurrency transaction.
In the world, operations are constantly being carried out to transfer digital currencies from one wallet to another, and miners are engaged in checking these operations using computer resources. When a cryptocurrency is launched, its developers announce how many “coins” can be mined, and upon reaching this quota, new units of currency are no longer produced.
Bitcoin became the world’s first cryptocurrency, which is still the benchmark for all other virtual currencies. Unlike regular currency transactions, cryptocurrency transactions are not regulated by banks or other financial institutions, but are recorded in a special electronic journal called blockchain.
Why cryptocurrencies are attractive in trading?
The cost of cryptocurrencies mainly depends solely on supply and demand, and therefore they are an excellent way to diversify a portfolio of assets; at the same time, cryptocurrencies are weakly correlated with the real economy and political situation.
Many central banks are already considering the possibility of introducing blockchain technologies. In general, cryptocurrencies are likely to stay with us for a long time, and an increasing number of agents around the world are already discovering their main advantages, which we will list below.
- The ability to diversify the investment portfolio (cryptocurrencies depend on market sentiment, demand, supply and nothing else).
- Large selection of leading cryptocurrencies.
- Digital provided new instruments with high volatility.
24/7 trading (even on weekends).
Cryptocurrency trading training. Since cryptocurrency exchanges operate 24 hours a day, 7 days a week, and the cryptocurrencies themselves are not tied to any country, they have comparative volatility. In the course of training, students will gain knowledge about the basic concepts of cryptocurrency trading: the chart of the current exchange rate, buy and sell orders, trading volume, etc. In addition, they studied the main types of cryptocurrencies, algorithms of trading algorithms and learn how to make transactions, choose one or another cryptocurrency for trading and the exchange, will master the methods of analyzing the markets and ways to protect against fraud. If you are interested in this type of trading, welcome to Fix Bot team.