How to Trade Cryptocurrency – For Beginners
Everything You Need to Know to Start Trading Cryptocurrencies Like Bitcoin, Ethereum or LanaCoin.
We explain how to trade cryptocurrency for beginners. To start trading cryptocurrency you need to choose a cryptocurrency wallet and an exchange to trade on.
From there it is as simple as getting verified with the exchange and funding your account (a process that can take a few days) or find an exchange where you don’t need to do KYC.
Once you are verified and have your account funded, the only thing left to do is to buy or sell crypto.
In other words, if you want to trade cryptocurrency you need:
- A cryptocurrency wallet (or two). For example Atomic Wallet, Trezor, or some others.
- A cryptocurrency exchange (or two) to trade on. For example tokens.net, BitStamp,…
The next step is trading. When trading, you can:
- Trade dollars to crypto (for example US dollars to Bitcoin, Ripple, DTR and back).
- Trade crypto to crypto (for example Bitcoin to Ethereum, Ethereum to Litecoin, DTR to Bitcoin, Lana to dollars, Dollars to Lana Coin,….).
One solution for all the above is Tokens.net
Tokens.net is a good choice because it is an exchange, and place to trade dollars for crypto and crypto to crypto. In other words, Tokens.net is an all-in-one solution for everything noted above and more. It holds trading competitions, market making bot, loans and much more.
On other exchanges, trader must buy USDT (stable coins) and trade for bitcoins. Every trade takes some fees. On tokens.net you simply buy Bitcoins with credit card wich are send to your account. You just pay 1,99% credit card fee and that’s all.
What are Crypto loans
In order to provide users with the best cryptocurrency trading experience possible, they added a feature to platform that will enable every Dynamic Trading Rights (DTR) holder to pledge its assets in exchange for USDT or EURS tokens. Crypto Loan is an optional element that enables the platform to expand its set of options for cryptocurrency trading, making them a go-to next-generation crypto-to-crypto trading platform.
Lending and borrowing are the same transactions looked from different points of view. Lending, in the most broad terms, is a temporary giving money to another peer in expectation of a return. Borrowing, of course, is receiving that same money, under the caveat that it will be repaid, often in a set period of time and usually with interest. Crypto lending is a form of financing where you put up a crypto asset in exchange for another in favour of holding your staked cryptos further on. It can be considered as a holders’ funding option when selling is not.
How crypto loan works
Besides augmenting our platform, crypto loan will also add to the functions of DTR tokens. In addition to fee settlement and voting, DTRs will facilitate lending. Tokens.net users will be able to leverage their DTRs in exchange for USDT or EURS, which are borrowed at a fixed amount for every DTR, known as a loan limit. Interest will be paid in borrowed funds immediately after the borrowed amount is acquired and thereafter at midnight (UTC time) each day until the debt is refunded. Debt will not be increased in DTR but in borrowed funds. Each cryptocurrency borrowed involves a liquidation limit. This limit is two times the loan limit. If this limit is reached, the exchange reserves the right to write off borrowed funds and tax the borrower at the expense of the same value in DTRs, augmented for the liquidation fee. This amount will be calculated based on current DTR token price at the time.
The convenience of crypto loan
Crypto loan is extremely convenient. You can leverage an asset you have sitting and use it for interest. This property of our platform will empower you to use your funds even if you do not wish to exchange them permanently. At any time users will be able to borrow and remove USDT and EURS and add or remove extra funds as long as the loan limit is not reached with such an action. Increasing and decreasing the amount of the loan is not bounded by the expiration date.
It’s important to us that we provide our users with the best cryptocurrency trading platform possible. Crypto Loan is an optional feature of our platform that will open up the possibilities for our users to get the most out of their experience at a crypto-to-crypto exchange.
If you’re intersted in trying tokens.net exchange. Sign-up on
trader.tokens.si
link and try all written features and more. Join the community on telegram, LanaCoin channel, and share your thoughts.
