A Cryptocurrency is a virtual or digital money that works as a medium of exchange for making transactions. Secured by cryptography and P2P network, it is immune to intermediary interference and is nearly impossible to counterfeit.
Cryptocurrencies make it easier to directly transfer funds between two parties without the need of any third party such as banks or financial institutions. These transactions are secured by private and public keys with different incentive systems such as Proof of Stake or Proof of Work. Funds are transferred with minimal processing fees, enabling users to save on hefty bank charges.
What is a cryptocurrency ?
A Cryptocurrency is a virtual or digital money that works as a medium of exchange for making transactions. Secured by cryptography and P2P network, it is immune to intermediary interference and is nearly impossible to counterfeit.
A Beginner’s Guide to trading cryptocurrencies with NitroEx
Ensuring profitability and long-term success in cryptocurrency trading is subject to well-formulated strategies, tools, and reliable trading platforms. If you have never traded before, it is critical to understand the fundamentals of a crypto asset and a whole range of other details that relate to crypto trading.
In this guide, we will furnish you with the basic trading principles to get you started for your cryptocurrency journey. Learn everything you need to know before investing in Bitcoin, Tether, Ethereum, and other digital assets.
Making your first move
As a beginner, the following two items are essential for cryptocurrency trading
- A cryptocurrency wallet
- A cryptocurrency exchange
The next thing you would want to consider while trading cryptocurrencies is selecting how to trade:
- Trade dollars to crypto
For instance- USD to BTC or LTC to USD
- Trade crypto to crypto
For instance- BTC to ETH or ETH to LTC
What regulates the price of a cryptocurrency?
Utility refers to the usefulness of a digital asset. The more functional a cryptocurrency is, the more credible it is to be foreseen as a ‘valuable asset’, and thus, the more probable it is to be bought.
Let’s consider Ethereum for example, crypto and blockchain experts regard it as the most serviceable network that also serves as a platform to build decentralized apps. It features neoteric applications of blockchain technology in the form of an application store instead of a medium for exchange. It is a highly acclaimed network that has built a powerful reputation in the eyes of global investors in recent years. As a result, Ethereum is categorized as a high utility cryptocurrency that commands top market value.
Supply and Demand
The price of a cryptocurrency depends on various factors including supply & demand that affects the market rates of digital assets.
For instance, Bitcoin is the most accredited and widely-known cryptocurrency in the world. It is the primary reason why crypto enthusiasts are exceedingly interested in buying and investing in BTC assets. In fact, currently, there is an approximate circulation supply of 16.7 million BTC coins according to the reports. In comparison to its peers, the number of Bitcoins available for trading is quite low.
When weighed against the astounding demands BTC has witnessed over a span of a few years, its low supply is believed to be the driving force behind its price surge.
While trading cryptocurrencies, it is likely that you will transition between multiple positions at a higher frequency. Therefore, we, at NitroEx crypto exchange, recommend novice traders to step in with meticulous research about cryptocurrency trading factors.
Read the latest articles and updates on a cryptocurrency you wish to indulge in. If you are intending to buy a crypto coin that has no real coverage, chances are that your position will fester and decline. On the other hand, getting a clear insight into the sentiments surrounding a cryptocurrency will enable you to filter useless digital coins having bleak chances to undergo any price movements.
Understand when to cash out
Seizing crypto trading benefits ultimately comes down to knowing when to sell. The crux of the process is deciding whether to continue or close the crypto investment at the right time.
The professionals at NitroEx crypto exchange understand that getting into digital trading is easy, whereas, realising when to get out is relatively difficult. In simple terms, there are two different aspects of evaluating your investment:
- Closing a trade after earning profits: Determining when to take your winnings out of your trade is vital for making financial gains. Cryptocurrencies can experience substantial growth or dip in its market prices, therefore, you should never delay in encashing your profits. Also, you shouldn’t be too quick and miss out on the extra returns in case the prices further skyrocket to a new level.
- Cutting your losses: If a trade goes too wrong, you want to be prepared to cut down your losses while also not jumping out too early in case the crypto value recovers.
There are many ways to scrutinize your investments as a beginner when you trade cryptocurrencies.
Types of trading
If you are interested in making market investments, there are mainly two types of cryptocurrency trading available for the traders:
- Intraday or short-term trading
As the name suggests, it implies buying and selling of cryptocurrencies over the period of a few hours or the entire day. Intraday trading facilitates the possibility of leveraging short-term price swing benefits without having to wait for a longer span of time.
- Long-term trading
Traders who wish to buy and hold cryptocurrencies for prolonged time do so with long-term trading. They may hold their digital asset investment for a week, month, or years depending on the market demands. Conducting extensive research on price fluctuations enables long-term traders to make informed decisions without enduring the short-term value dips.
Selecting the right cryptocurrency trading platform
Market trading might feel like a reserved undertaking for the financial elites but it is actually a myth. With the growth of cryptocurrencies and online currency exchanges, trading is more accessible than ever. As a beginner, all you need to know is how to pick the right cryptocurrency trading platform. Some of the key highlights include:
- Cryptocurrency availability: There are thousands of digital assets in the market but only a few are high-performing. Instead of getting distracted by crypto links, we suggest you go for exchanges that offer leading cryptocurrencies for making initial investments.
- Trade fees: A lot of your investment profit is decided by the commission fees charged by various cryptocurrency trading platforms. High trade rates cut down the investment returns, leaving you with a constricted ROI.
- Investment amount: We recommend beginners to analyze their trading strategies. Opting for exchanges that accept minimum investment amounts might work the best for you.
We, at NitroEx, ensure that our product offerings meet the different demands of users. From wide liquidity pools to high-security standards, top market pairs to lowest trade fees, we furnish a myriad of cryptocurrency exchange services for effortless trading experience.
Getting started with NitroEx crypto exchange
The foremost step to start crypto trading is to create an account on a cryptocurrency exchange platform. At NitroEx, we recognize the needs of our users and therefore we furnish an intuitive and clutter-free trading platform for beginners and professionals alike.
The steps for signing up with NitroEx crypto exchange is easy:
- Create an account and fill a simple application form for KYC validation.
- Wait for your account verification.
- Fund your account.
- Start buying and selling cryptocurrencies.
Note: KYC is only required for withdrawals. KYC is not mandatory for trading and making deposits.
We provide the best-in-class market experience with high-level security standards and fast trade execution. Our intuitive and easy-to-use crypto trading platform provides a myriad of cryptocurrencies such as BTC, XRP, LTC, USDT, ETH, and many more to trade and earn profits. The NitroEx support team is available 24x7 to guide users through the basics of crypto trading right from buying digital assets to selling them to reap maximum benefits on the total investment.
If you want to know more about how cryptocurrency trading works or wish to create a new account, reach out to us at [email protected]
Bitcoin 101: Rediscover BTC Transactions with NitroEx
Every living being on this planet would have probably heard of the cryptocurrency Bitcoin. It emerged in 2008, just after Occupy Wall Street laid charges against the big banks for mishandling the borrower’s money, charging staggering fees, duping customers, and manipulating the system.
With Bitcoin, the pioneers wanted to place the seller in authority, make transparent transactions, eliminate middlemen, and nullify the interest fees.
To facilitate the protocols and address the ongoing complications involved with the physical financial system, a new decentralized system was created where you could actively control your money and know what is being carried out without actually depending on the banks.
In the due course, Bitcoin covered an impressive journey in a relatively shorter time. All across the globe, companies from the smallest capitals to multinational industries started accepting and using this currency. It has developed its application programming interface (API), exchange rates, and price index where businesses tagged Bitcoin as the most reliable channel for giving and receiving money.
To make the concept more clear, let’s begin with an in-depth understanding.
What is Bitcoin?
Bitcoin is a virtual form of cash- a digital currency- that enables users to indulge in a wide array of online payment structures. It is distributed electronically where the transactions are validated by a huge network of computers where businesses recognize BTC as a privacy-friendly solution to the corporate banking systems and a recession-proof alternative for inflationary physical currencies.
As per the latest market studies and Bloomberg report, it is calculated that around 1000 people are estimated to hold nearly 40% of the total BTC that is available in circulation.
With such vigor and vitality, Bitcoin has seen an immense transactional transformation in the past years. Being crafted on a safe network, BTC provides a separate user-base for crypto investments.
The BTC transaction characteristics include:
- Global availability
Who created Bitcoin?
Bitcoin was first published as a whitepaper by an anonymous developer or a group of developers, under the alias Satoshi Nakamoto in the year 2008. Programmed as open-source software, there has been quite a controversy about the real identity of Bitcoin’s creator, however, everyone to date has publicly denied being the original Nakamoto.
Furthermore, it has been widely estimated that Nakamoto owns around 1 million Bitcoins which approximately amounts to $3.6 billion.
To date, it is unclear who created Bitcoin, but the prowess that this currency holds is infinite. Let’s look at the quick history of BTC evolution.
A Brief Highlight
- October 31, 2008: Anonymous Satoshi Nakamoto publishes the Bitcoin whitepaper.
- January 3, 2009: Block number one or the Genesis Block is mined.
- January 12, 2009: The first Bitcoin transaction was carried out.
- December 16, 2009: Another Version 0.2 is released.
- November 6, 2010: BTC market cap value exceeds $1 million USD.
- October 2011: With a new BTC division, Litecoin is created.
- June 3, 2012: The largest Block 181919 is created with 1322 transactions.
- September 27, 2012: Bitcoin Foundation is established.
- November 28, 2012: First Bitcoin Halving took place.
- 4th December 2013: BTC rates reach a high of $1,079.
- 7th December 2013: Price crashes to around $760.
- February 7, 2014: The worst crypto hack in history is recorded with Mt. Gox that steered to the price drop.
- June 2015: The most significant cryptocurrency regulations called BitLicense is created.
- July 9, 2016: Second Bitcoin Halving happened.
- August 1, 2017: BTC divides again to form Bitcoin Cash.
- August 23, 2017: SegWit is activated.
- September 2017: BTC trading gets banned in China.
- December 2017: CBOE Global Markets (CBOE) and the Chicago Mercantile Exchange (CME) launch their first bitcoin futures contracts.
- December 2017: Bitcoin rates reach its all-time high to $20,000.
- January 2018: As an outcome of the 2018 crypto market crash, the prices fall down
- September 2018: From its peak in January 2018, the cryptocurrency value drops by 80%
- November 15, 2018: For the first time since October, 17, Bitcoin’s market cap value drops below $100 billion.
- October 31, 2018: Bitcoin celebrates its 10 year anniversary.
- September 2019: Bitcoin creates more than 5457 ATMs worldwide.
- May 11, 2020: Third Bitcoin Halving occurred.
Is investment in Bitcoin safe?
So far, industries and traders have reflected colossal buying interests in BTC. Major institutions and Central banks around the world, including countries like the US, China, and Japan are formulating the ideas of government-backed digital currency where further advances are being carried out for future implementations.
Bitcoin, the gargantuan cryptocurrency rose to nearly 1400% in the year 2017. Investors who bought BTC a few years ago earned handsome amounts on their overall investments where the values multiplied several times.
We, at NitroEx, support safe Bitcoin trading and provide useful market insights to understand the in and outs thoroughly. We believe that BTC investment is highly beneficial and traders should reap the benefits at the current time where the prices have reached $9830.
How to get Bitcoins?
The simplest way to gather BTC is to turn toward Bitcoin exchange sites, out of which there are plenty around the world. Bitcoin exchanges offer a unique platform for BTC buyers and sellers to perform transactions against a particular fee. And it is extremely important to decipher which exchange caters to your needs and offer a myriad of trading options in real-time.
It’s also crucial to note that the value of Bitcoin somewhat varies across different exchanges- this happens due to supply and demand on those platforms and varying transaction rates.
Apart from that, there are also about 7722 Bitcoin ATMs all over the world which allows you to withdraw money from your debit account to BTC wallet or to deposit cash in the form of Bitcoin.
NitroEx is one of the trusted and secure Bitcoin exchange that allows seamless transactions with multiple payment options such as through digital tokens and bank transfers. We also allow you to trade BTC with other cryptocurrencies such as Ethereum, Litecoin, Tether, and Ripple.
What are the best BTC Trading strategies?
When you are investing in Bitcoin, you should consider crafting methodologies that cover the price points for your entry and exit levels.
The best and rewarding Bitcoin trading strategy is the one that is completely aligned to your individual goals.
At NitroEx, we suggest that you evaluate your risk appetite, trade tolerance, and available capitals before jumping into the BTC investment pool. As complicated as it sounds, it actually becomes the opposite when you start trading with Bitcoin.
Altogether, there are a few strategies that have gained popularity among the BTC traders. These include:
- Trend trading
- Breakout trading
NitroEx crypto platform enables you to build effective trading strategies that maximize your related BTC capitals and earnings. We help our traders to build best-in-class formulations that include:
- Understanding the BTC Market
- Choosing how to start BTC trading
- suggesting a high-performing trading agenda
- Managing your risks
Start BTC Trading with NitroEx
We provide a simple and quick user login set up that opens new doors for Bitcoin trading in two simple steps:
- Sign Up/ Create a new account on NitroEx and place your first BTC trade.
- Put your BTC trading strategies at test in a risk-free environment to build confidence.
Alternatively, if you have any queries related to Bitcoin trading or need support for optimizing risks, our crypto experts are available round the clock to make your journey easier. For more details, reach out to us at [email protected]
How to invest in cryptocurrencies with NitroEx
Over the last few years, cryptocurrencies have been an intense topic of discussion among investors and financial institutions. From stories of becoming overnight millionaires to losing thousands of dollars expecting to make a quick buck- we have heard them all.
If you wish to invest in cryptocurrencies without running into any risks or losses, this article is undeniably published for you. We, at NitroEx, wish to guide the investors through the journey of crypto investment and to reduce ongoing speculations in the market.
How to invest in cryptocurrency
In broad terms, you need a safe and reliable place to buy crypto assets and make a move on your digital investments. The most trusted and sought-after trading platforms to purchase digital currencies are cryptocurrency exchanges. They can be classified into two types:
- Fiat to Crypto
- Crypto to Crypto
We, at NitroEx crypto exchange, allow traders to get hold of popular cryptocurrencies such as Bitcoin, Ethereum, Tether, Ripple, Litecoin, and many more. With highly-priced digital assets such as BTC, we enable you to buy fractions of a coin, so you don’t need to lay out a hefty chunk of money to get in the game.
If you wish to purchase and invest in altcoins, you will need to put finances into buying some BTC or ETH as crypto pairs to proceed further. And if you are entirely new to the cryptocurrency realm, you should definitely opt for a trusted crypto exchange rather than dealing directly with a stranger.
Tips for smart cryptocurrency investment
Investing in digital assets can be an intriguing aspect for a segment of your digital portfolio, but you should ensure to diversify your money with other holdings. A good asset allocation along with innovative approaches are likely to earn you more profits than roughly calculating your potential stakes.
Here are a few tips for investing responsibly in the crypto market that are proven to deliver plausible investment outcomes.
Research intensely before you invest in any cryptocurrency
If you wish to cash out maximum profits from your crypto investments, we suggest you do extensive research on the obvious coins. It will not only help you in gaining more knowledge about the assets you wish to invest in but will also enable you to understand the utility it delivers to the digital world.
Furthermore, one of the main reasons why many people are so skeptical about cryptocurrency investing is the lack of in-depth market research. To avoid running into debts or suffer serious losses, we recommend you to perform a 360 degrees performance and history check about your preferred crypto asset. You should never gamble to make profits while investing in cryptocurrencies you know nothing or little about.
Evaluate your investment risks and strengths
For some people, it is never easy to take financial risks and it makes them incredulous at making further investment advancements. On the other hand, some seize the opportunity and take a giant leap toward any potential market advantage. Analyze where do you stand and be considerate about your response here. Doing so will help you evaluate your potential risks and will enable you to decide what fragment of the portfolio to invest in.
The most important fact of cryptocurrency trading is that- there is no anchored rule for same-amount investment. For instance, if your partner is willing to invest $5000, it doesn’t imply that you have to throw away the same price. What matters for you is- stay in your comfort zone and invest within your limits.
Do not pay heed to hype and rumors
While dealing with cryptocurrencies, do not make decisions based on factless hypes and rumors. If your aim is to make a lot of money through your crypto investments, start from calculating your risks and questioning the right people for the right guidance. Moreover, pinning your faith on the hearsay about any coin is not sensible at all.
At NitroEx crypto exchange, we extend professional assistance and support to the crypto enthusiasts. We arm you with the right tools and techniques to strategically invest in cryptocurrencies.
Considerate distribution of money on other cryptocurrencies
A smart strategy for eliminating risks is to effectively spread your structured investments across cryptocurrencies. It is always the best plan of action to invest in different crypto coins rather than just targeting a single digital currency.
Apart from Bitcoin, there are plenty of other digital assets available in the market. You just need to keep your eyes open and not fall for the scams before making any sudden purchase. Among the “real” and potential coins, extensively study, research, and opt for the ones that can deliver tangible investment results. We also encourage you to proactively proportionate your money based on calculated risks and mitigate any possible threats prior to your investments.
At this moment, you should accept the fact that cryptocurrencies have already disrupted the financial market and dozens of institutions across the globe are actively investing in them.
We, at NitroEx crypto exchange, equip you with the latest trading features and market trends, providing an easy path for the investors to walk on. Owing to the benefits the cryptocurrencies have to offer, we furnish a reliable trading and exchange platform to buy and sell cryptocurrencies while encashing optimal profits.
If you wish to trade digital assets or have any queries, reach out to us at [email protected]
What is blockchain technology ?
A blockchain is a digital ledger of transactions that is replicated and distributed across the vast network of computer systems. It makes the transfer of digital assets fast, easier, unalterable, and transparent with the use of cryptographic hashing and decentralization. Blockchain technology is effective in stamping out frauds, reducing risks, and bringing scalability for a myriad of uses.
Analyze the market effects of Bitcoin Hodling with NitroEx
Bitcoin is undoubtedly one of the most talked-about cryptocurrencies in the world and apparently, it is undergoing a massive bull run in the offing. With each passing day, the hodling chapter of Bitcoin is picking more pace and has been actively validating the trading strategies of numerous crypto investors.
As per the Bitcoin Analysts, when the Bitcoin-US Dollar exchange rate reached an all-time high at $20,000, the HODL activities had already hit 2016 levels. Nevertheless, the existing sentiment rose right after the market crash in March, but the new statistics suggest that it has traversed to gain new heights in terms of crypto-asset accumulation.
Let us now rewind and help you understand from scratch.
What is Bitcoin Hodling?
According to the leading Bitcoin analysts, 60% of the total available Bitcoin (BTC) supply has not moved for a period of 1 year- a direct indication of that this 60% of the cryptocurrency is not being traded at all. This entire process is known as hodling- a term that was intended to mean holding but spells as such because of a typo error. The misspelled word caught on with the Bitcoin community and became a staple evocative term for the cryptocurrency’s functionality.
The market studies also suggest that the current levels of Bitcoin Hodling were last noticed in the bull run of $20,000 in 2017.
But now let’s just shift our bullish narrative away from hodling, it is even speculated that the investors might not be getting the best out of BTCs while only ingenuously holding the assets in terms of overall returns.
This leads us to answer an inevitable question.
Can just BTC hodling help the investors?
Considering Bitcoin’s previous data statistics, hodling assets is definitely profitable. And there is absolutely no doubt about it! Since Bitcoin ushered in the world of cryptocurrencies, it has been profitable for almost 98% of the time. It is, therefore, considerably fair to accept that a certain group of crypto investors would prefer to keep their BTC assets in the ideal gear and won’t touch it until anytime soon.
For instance, take a look back at the day when the term Hodling was first introduced. Bitcoin prices took a downfall of 24.67%, a portion of the 46% slide that occurred from December, 10 to December, 18.
However, since that time the Bitcoin’s rate increased to nearly 1338% of its initial value. If a person who coined HODL had invested $10,000 in BTC at that particular time, he would have assets worth $143,829 today! The figures are undeniably massive and Bitcoin Hodling has surely become an effective yielding trade strategy for the investors.
Now, coming back to the short term tradings, the investors can get the best out of BTC as well if they carry out a proper rebalancing.
For example, if BTC rates lowered or rose by 50%, instead of Hodling, it would be more sensible if traders sold BTC if their allocation reached 7.5% of their portfolio, or invest and buy more if the Bitcoin’s allocation slumps down to 2.5%.
This type of Symmetric rebalancing has proven to benefit the market earnings after the cryptocurrencies’ rise in 2017. The overall returns were up by 104% and involved much lower risks with respect to its volatility.
Can we apply it to the current market scenario?
We would absolutely say yes to it. Buying and holding is the only rational attempt to gain from an asset as popular as Bitcoin; where striving to tame the market is next to impossible. We would rather suggest BTC Hodlers not to sit idle.
Considering the volatility in its subdued levels at the current moment, just Hodling all your BTC assets seem less ideal in the existing market.
In order to manage a reasonable portfolio and to amplify the risk-adjusted returns, crypto Hodlers should systematically re-balance their portfolio over the course of time. The re-balancing approach encourages crypto investors to buy low and sell high, thus, maintaining their portfolio allocations in check. And since it is not 2017 anymore, we would suggest being on the kinder side of the digital industry. A calculated approach would yield better results as compared to the “all-in” approach in the BTC trading world.
At NitroEx, we offer safe BTC Trading with live price updates and market insights for rich user experience. Our professional crypto experts ensure that your queries are answered and your requirements are met around the clock- irrespective of your location and time.
If you are cryptocurrency enthusiast and love to trade with Bitcoins, NitroEX crypto exchange offers a secure and trusted trading platform to buy and sell crypto coins with leak-proof safety and reliability. For more information, reach out to our professional crypto experts at [email protected]
Top cryptocurrencies to invest in and trade with NitroEx
The core intent of cryptocurrency is rather elementary- leverage technology to wipe out the middle-man in the course of financial transactions and make buying and selling commodities more efficient and less costly.
Powered by the blockchain technology, cryptocurrencies are being used to conduct and verify financial transactions without any requirement of central oversights. Owing to their unparalleled benefits, major industries, and public sectors across the globe have started acknowledging the bright future of cryptocurrencies.
However, to avail stupendous benefits from digital currencies and cash out unimagined profits, it is extremely crucial to start investing in cryptos. And deciding which digital asset to trade and invest in can be tedious. With more than 5000 cryptocurrencies to choose from, it can be difficult to analyze the explosive rally of altcoins and the possibilities of their big gains in the year 2020. In this guide, we, at NitroEx, are unveiling the most promising cryptocurrencies that you can seamlessly invest in.
Why should you invest in digital assets?
As compared to the fiat currencies, crypto assets are offering multiple advantages such as transparency, transaction speed, and lower fees. Being reckoned as the future of finance, these digital currencies have spiked monumental disruptive waves in the crypto world. While you might be considering investing in the digital market, here are some factual points as to why crypto trading is a good idea.
- No minimum investment barrier
- High liquidity support
- Crypto markets are functional 24x7
- Optimum transparency levels
- Crypto availability and diversification
- Lower transaction fees
Now that you’ve evaluated the benefits of crypto trading and investments, here are our top preferences to get started with it.
Without a doubt, Bitcoin is the most obvious and preferred cryptocurrency to trade and invest in. In the coming months, BTC is expected to become the direct beneficiary for accelerating the demand growth in the realm of digital assets.
Furthermore, the third Bitcoin Halving in May has created a direct impact on the supply influx and the number of new BTCs hitting the market. This has led to an upsurge of Bitcoin’s demand and interest while drawing public attention and media coverage. As long as this crypto asset continues to dominate the digital economy, institutions and investors will always gain from the high liquidity levels.
Bitcoin Price: 9,751.07 USD
Market Capitalization: 179,421,317,726 USD
Bitcoin might be the most sought-after cryptocurrency but Ethereum, by far, is the exceedingly influential digital asset in the market today.
To begin with, many cryptocurrencies might exude attractive opportunities but if we, at NitroEx crypto exchange, were to suggest one- we would definitely pick ETH. And the reason is evident: the Ethereum blockchain has facilitated countless projects to develop on top of it and is backed by a myriad of Fortune 500 companies such as Microsoft, Intel, JP Morgan, and many others.
While it’s improbable that Ethereum matches BTC rates, crypto analysts foresee a huge potential for this cryptocurrency network.
Ethereum Price: 243.82 USD
Market Capitalization: 27,146,070,675 USD
Ripple’s solid network and plausible technology are swiftly opening new doors in the sectors of international banking, commerce, and payment models. It is the primary infrastructure behind multiple cross-border cryptocurrency transactions and payments.
It is important to note that Ripple directly deals with the world’s top and biggest banks. Massive adoption of the digital asset by the banks positively impacts the XRP rates in the long run. With Ripple XRP, you can easily make payments to any part of the world in less than 4 seconds. It can handle 1500 transactions per second, making it a perfect candidate for major crypto investments.
As cryptocurrency awareness increases, more and more banks will partner with Ripple in the near future- ultimately leading to the XRP price surge.
Ripple Price: 0.202315 USD
Market Capitalization: 8,924,689,403 USD
Litecoin is another major cryptocurrency that you should consider investing in. When it comes to payments, LTC is one of the most affordable and fastest-growing digital assets in the digital world.
Compared to other market-rich cryptocurrencies, Litecoin furnishes huge potential at a lesser price. With each currency trading for less than $100, it gives a wider number of crypto investors with an opportunity to jump in the digital market trading.
Because of its technology-forward profile, LTC is being adopted by the world’s high-yielding industry sectors, thus, giving it a broad path for trading and investments.
Litecoin Price: 45.95 USD
Market Capitalization: 2,980,080,956 USD
Cryptocurrency trading with NitroEx
Cryptocurrencies are unlike any other trends that the world has ever witnessed before. It devises an opportunity where crypto traders and investors can transform a fistful of dollars into thousands and millions of dollars.
At NitroEx crypto exchange, we leverage a highly-secure and reliable trading platform where digital enthusiasts can easily buy and sell cryptocurrencies. Embedded with live market insights and professional support, we enable you to trade with a wide range of cryptocurrencies that are available on our platform.
If you put confidence in the blockchain technology and have made your cryptocurrency preference, feel free to share your feedback with us or reach out to us at [email protected]
Understanding the emergence and benefits of stablecoins
Blockchain technology has rapidly transformed the way businesses operate and over the years, it has disrupted major industrial sectors. It provides decentralized, secure and faster transactions of cryptocurrencies- a digitized form of physical currencies. With more than 200 crypto assets currently dominating the financial market, these digital coins were birthed to replace the complications associated with fiat currencies.
While conceptually fit to be the ideal form of money, cryptocurrencies are considered volatile. Let’s understand why.
The cryptocurrency pricing is governed by the laws of supply and demand-- if people wish to buy, prices increase; if people wish to sell, the prices decrease. Apart from this, there are two major factors that contribute to market fluctuations.
- The first factor includes its small market size as compared to the established forms of currencies. With an overall capitalization value of $267 billion, the crypto market size is still insignificant to the US stock market capacity of $28 trillion or to that of the gold market with $7.9 trillion bandwidth. This implies that even a small movement of cryptocurrencies can considerably have a very large impact on its price.
Let’s say if an investor decides to sell $100 million in gold, it would barely create any difference in the gold pricing. However, if a similar amount is used to sell Bitcoin, it would destabilize the entire crypto market and lead to a rate crash for all forms of digital currency.
- The second factor involves the general perception of cryptocurrencies in people’s mind. Supposedly, if people start believing that the price of the particular cryptocurrency will no longer rise, they will begin selling them off. This reduces the cryptocurrency’s value and further stimulates other investors to follow a similar trend. The cycle continues and causes the crypto market to fluctuate very often based on the quick buying and selling trends. Also, there are a few big investors with large portions of a stake in the cryptocurrency market, enabling them to hold disproportionate amounts of power over the cryptocurrency pricing.
However, understanding that the problem is not about cryptocurrencies in itself and considering the other benefits that these crypto-assets hold, the digital industry found an alternative way to combat the situation.
This is where the concept of Stablecoins comes into play.
An overview of Stablecoins
The introduction of stablecoins lies in its working. They are, at the core, market-headed cryptocurrencies that are powered by real-world assets such as fiat currencies like USD and precious metals like gold. Reckoned as ‘stable’ assets, their prices are pegged at a particular level with one-to-one ratio to universally recognized assets held as collateral in reserves. They are objectified to reduce price fluctuations, instability and market volatility. A lot of global industries have already started implementing stablecoins in their business framework, posing infinite potential in the near future. Integrated with the neoteric blockchain technology, they are effectively helping to verify, control and secure digital transactions.
Since stablecoins are attached to global assets, they maintain a steady price in the virtual marketplace. As a result, they have become a prime liquidity source in the volatile crypto world.
The major usage of stablecoins can be witnessed with traders handling them to buy and sell cryptocurrencies on crypto exchange platforms that don’t accept fiat currencies. This further provides a safe place for saving funds whenever virtual markets go through a hard turmoil.
Having understood the basic workflow, there are three types of Stablecoins available with us today.
- Fiat-collateralized stablecoins
- Crypto-collateralized stablecoins
- Non-collateralized stablecoins
Each segment offers its own version of security and transparency, from being crash-proof to decentralized, stablecoins have bridged the gap between digital and fiat currencies.
While we are patiently waiting for various businesses to come up with their own kind of ‘perfect’ stablecoin, what needs to be focussed on are their importance and benefits!
Importance of Stablecoins
- Everyone with access to the internet can buy or get stablecoins. It has opened new doors for administering global financial systems.
- Owing to the connection between fiat and digital realm, the evolution of new blockchain development companies are on the rise.
- The convergence of stablecoins and tokenized securities has enabled them to make practical dividends and investments.
- Since stablecoins payments are not subjected to cryptocurrencies’ volatility, high programmability will take place in the virtual world.
Benefits of Stablecoins
To curb the general real-world problems of investment and purchase, stablecoins have become a staple means of trading and selling. It provides crypto traders with an assurance to know what they are paying for and what they are getting back in return. The benefits include:
- Governed by smart contracts
- Leak Proof security
- High liquidity
- Price rates stability
- Investors’ privacy
As more and more working sectors are diving into the deep virtual pool, stablecoins are expected to become the key that unlocks the digital market.
If you are already using stablecoins, try NitroEx Crypto Exchange to access wide liquidity pools and trade with cryptocurrencies to get maximum profits on your investments.
Why is Bitcoin so popular ?
Bitcoin is simply the most acclaimed and biggest cryptocurrency in the world right now. It offers an efficient route for transferring money and is governed by a transparent set of rules and decentralized networks, making it a perfect alternative to centralized fiat money. Despite the little ups and downs in BTC values, it is still relatively more stable than other digital assets and physical currencies in the world.
What is a cryptocurrency exchange?
Similar to traditional financial exchange, a cryptocurrency exchange is an online platform where traders can exchange one kind of digital currency for another such as conventional fiat money or other digital currencies. Also known as Digital Currency Exchange (DCE), its core operations involve buying and selling of crypto assets based on the current market conditions.
What are order types?
An order is simply a set of instructions used to buy or sell cryptocurrencies. It determines your position for entering and exiting a trade.
There is a comprehensive range of order types that can be placed to make cryptocurrency trade in the market. Depending on your preferences, you can either choose to execute a trade at the current market price or create different orders for future market price.
At NitroEx, we support different types of orders for trading cryptocurrencies including limit order, market order, and stop-limit order.
What are Crypto pairs?
When trading cryptocurrencies, you will come across the terms “trading pairs”, “market pairs”, or simply “crypto pairs”.
A cryptocurrency pair comprises two different currencies that can be traded against each other. For instance, the crypto pair ETH/BTC.
With ETH/BTC, you can either buy or sell Ethereum with Bitcoin. NitroEx crypto exchange supports crypto-crypto transactions and furnishes top cryptocurrencies as trading pairs.