Cryptocurrency

Getting Started with Cryptocurrency

What is it?

Cryptocurrency is essentially a digital asset, similar to gold and silver it is a medium of exchange representing a certain monetary value, this value, however, differs from any other currency by being digitized.

Crypto is distributed across a network of computers, this decentralized method creates the structure of crypto and allows them to exist outside of governments and other central authorities.

Perhaps the most essential part of cryptocurrency is security, this is achieved through its structure in the blockchain management system. Cryptocurrency's integrity of transactional data is ensured through its distributed ledger otherwise known as the blockchain.

One of the first cryptocurrencies to be created in this blockchain method is Bitcoin. Released in 2008. To learn more visit https://www.bitcoin.com/get-started/a-quick-introduction-to-bitcoin/

Throughout this section, we will go over various components of cryptocurrency and how to get started.

What is options trading with Crypto

Learn different crypto derivatives to help grow and leverage your account

Trade according to your view of the crypto market. You don't have to just buy, sell or hold crypto, that's pretty limited but there are actually a bunch more ways to make money from crypto! Sometimes people don't buy bitcoin and ethereum on the basis that it's too expensive and buying just fractions of it doesn't make much money, however, there is a way to make money from crypto without even owning crypto!

Learn how to hedge positions on bitcoin

If you own cryptocurrency sometimes the only way to deal with falls in price is to either take the loss and hold or simply sell out, however, there are other ways to protect against loss. With options like put contracts or even selling calls you can protect against big falls in the price of crypto in the market and hedge your positions.

Making money while you wait

A lot of times the market can be relatively stagnant and during those its important for a trader to be patient and wait for the right time to buy and that's usually at a lower price. During those times there are ways to generate income even then with selling put contracts.