FAQ

Do you have a question about online tradeing sites? How do they work, which ones are the best, am I able to trade in my country? We can answer these and many other questions quickly and easily. Just browse through this FAQ page and see what you can find. If the question you have is not listed here, please don’t hesitate to contact us and we’ll respond as soon as we are able.

What is Bitcoin?

Bitcoin is a digital or virtual currency that can be used by people to pay for various goods as well as services. This cryptocurrency was founded in the year 2008. It is an analog of various payment systems. There is a wide range of cryptocurrencies in the market, such as Bitcoin, Ethereum, Dash, Litecoin, etc.

Bitcoin is one of the cryptocurrencies available in the online world. It is, in fact, the highest grossing digital currency from many years. This is why it’s so popular amongst investors, whether beginners or experts. Bitcoin is based on the Blockchain technology, which is quite a rage in the online technology world.

The gripping thing about Bitcoin is that it is not regulated by a central bank and its payments and transactions are anonymous. Moreover, there are a limited number of Bitcoins and the process of minting new ones has decreased with time, which has subsequently increased its demand.

What is Bitcoin?

Bitcoin is a digital or virtual currency that can be used by people to pay for various goods as well as services. This cryptocurrency was founded in the year 2008. It is an analog of various payment systems. There is a wide range of cryptocurrencies in the market, such as Bitcoin, Ethereum, Dash, Litecoin, etc.

Bitcoin is one of the cryptocurrencies available in the online world. It is, in fact, the highest grossing digital currency from many years. This is why it’s so popular amongst investors, whether beginners or experts. Bitcoin is based on the Blockchain technology, which is quite a rage in the online technology world.

The gripping thing about Bitcoin is that it is not regulated by a central bank and its payments and transactions are anonymous. Moreover, there are a limited number of Bitcoins and the process of minting new ones has decreased with time, which has subsequently increased its demand.

Where can I use Bitcoins?

In the beginning, Bitcoins were made in order to serve as a medium of payment. Today, a lot of stores accept Bitcoin payments. However, rather than purchasing Bitcoins, it is better to invest in them if you want to increase your wealth over time.

The investment in Bitcoins will prosper when you buy them and keep them for awhile so that their price increases. By doing this, you can achieve significant profits via Bitcoins. Over the years, Bitcoin is known for its vast augmentation. For instance, between the months of April and August 2017, there was over 400% increase in its price.

When it comes to buying Bitcoins, you can buy them from exclusive websites on the Internet. Plus, you can also mine or create Bitcoins on a computer. However, you need an initial investment for this. You can save your Bitcoins in special online wallets that can be easily found online. Plus, you can also save them on smartphones or computer hard-drives via the help of software programs.

What do you mean by mining?

Mining is the procedure of attaining cryptocurrency in your wallet. However, the main thing is that every exchange or transaction needs to be verified by other members that are present on the system, who are known as the miners using their own computers.

After this, some amount of the cryptocurrency transactions is saved in blocks and anyone miner gets a bonus of cryptocurrency. However, for mining, you require a powerful computer that you need to update on a daily basis.

This is because the procedure for creating new Bitcoins becomes more complex day by day since its price grows every day owing to certain factors, including the growing interest of investors towards it. This is why Bitcoin can yield high profits to investors over time. Plus, the technology behind Bitcoin, promotes the new funds’ flow, thus augmenting its demand in the cryptocurrency market.

What is cryptocurrency trading?

Cryptocurrency trading refers to the purchasing and selling of various cryptocurrencies available on the Internet. In fact, you can save a lot of money by getting into real trading of cryptocurrency. You can make your account at one of the cryptocurrency brokers, after reading their reviews on our website.

Owing to its colossal growth over the years, cryptocurrency is more likely to grow in future. Thus, you should start trading it from today onwards rather than delaying it for a later date. However, for cryptocurrency trading, you first need to open a purchasing order.

You can also buy stuff from cryptocurrency, apart from trading it. Big stores in the U.S., like Target, Walmart, Nike, etc. accept this electronic money. Additionally, plenty of online stores take Bitcoins for their products and services.

When it comes to the trading of Bitcoins particularly, you could have earned a minimum of 50% and a maximum of 270% if you would have traded it in the early days of August 2017 when it was valued at over $1400.

Is it legal to buy and make use of cryptocurrencies?

When it comes to the legality of cryptocurrencies, every government has their own regulations pertaining to Bitcoin. Different countries deal with it differently. For instance, in the early months of 2017, Japan made it a legal payment mode.

By doing this, Japan became the very first country that legalized cryptocurrency. This move can influence other nations as well. Australia can follow Japan in the near future and the United States of America is also working on the regulatory documents of cryptocurrency. However, there is no official recognition for it as of now.

Additionally, Russian officials too are taking measures to adopt Bitcoin as a legal payment mode, as reported by Russian officials. Since cryptocurrency is not regulated by a central bank, its price is based on its supply and demand, just like the price of gold or any other currency is formulated.

Should I go for a crypto exchange or a CFD broker?

You can use cryptocurrencies for online purchases, like ICOs, or you can use them as an investment. However, if you want to exchange your cryptocurrency with fiat currency, such as US Dollars for Ethereum, Bitcoin, or any other type of cryptocurrency, then you need to have a crypto exchange for this.

However, if you are going for a crypto exchange owing to the price fluctuations of some cryptocurrencies, then it is better to go for CFDs. Different exchanges have different amounts and types of cryptocurrencies. They have their own risks just like businesses. For instance, the crypto exchanges have faced problems with bankruptcy and security breaches.

Therefore, we suggest you that you do your own research before you put your money in some cryptocurrency exchange. In order to minimize the risk level after you have made your exchanges, you must transfer your cryptocurrency from the exchange to your own digital wallet.

What risks are there in trading cryptocurrency?

Trading cryptocurrency comes with its own risks just like any other trading. This means that the profits in cryptocurrency are not assured. You can get profits but you can also face risks. However, the good thing about crypto trading is that every trader has all the control of their order. This means that loss in one trade will be below 1% of the overall capital.

However, there can be a lot of profit as compared to this, depending on the price growth of the respective cryptocurrency. If a lot of people will buy that cryptocurrency, its price will grow and when there is some negative news about it, then the price of the cryptocurrency will decline. You can trade in numerous cryptocurrencies since there are almost 1,000 of them in the online world. Nevertheless, Bitcoin is the top most cryptocurrency and is followed by Ethereum.

How do I start trading cryptocurrency?

If you want to start trading in cryptocurrencies, you need to know how you must go about it. After you receive the primary details on cryptocurrencies, you can open your trading account with a crypto broker and also deposit funds into your account.

After this, you have to place your orders in the crypto trading terminal and wait till you get the profits. At any point in time, you can lock-in your profits. This means you can close your orders and withdraw your money from a bank card or some other payment system.

Since the cryptocurrency sector is growing quickly, you must invest in it right now rather than delaying it. 99% of all the investors invest their money in the 10 main cryptocurrencies. This is why you should also use only the top 10 cryptocurrencies. You shouldn’t invest in little and emergent cryptocurrencies, particularly if you are investing plenty of capital.

Are cryptocurrency wallets secured?

Although we cannot say that cryptocurrency wallets are fully secure, we can provide you with our own as well as our customers’ regular experiences of using a wide variety of cryptocurrency wallets for running a business.

There are a lot of cryptocurrency wallets that you can use. It’s just that you need to follow good online security practices and create frequent backups so that you can ensure that your cryptocurrency wallets remain safe and secure.

If you want more information on cryptocurrency wallets, you can do your own research on the internet and also contact us for any related queries. You can also deposit your cryptocurrency into your online trading account.

This means you can deposit as well as withdraw your Bitcoin or any other cryptocurrency using your crypto trading account, along with converting the total in the transfer. You can also store your cryptocurrency in multi-asset wallets that can store multiple currencies.

Do big firms invest in cryptocurrencies?

Different countries have different laws regarding the use of cryptocurrencies or Bitcoin. A lot of nations prohibit investment firms to work with a cryptocurrency as dictated by their regulatory bodies. This is because cryptocurrencies are very volatile. However, the main U.S SEC regulator is still working on the formalities in order to resolve this small detail. Thus, it is possible that the funds provided by large shareholders can help cryptocurrency in remaking its maximum cost mark.

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