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How to Trade Crypto Currency
Cryptocurrency trade is the universal coin, Market trading might sound like something reserved for the financial elite, but the growth of cryptocurrency is accompanied by the growth of online currency exchanges and trading platforms where anyone can take part in market speculation. You just need to know how it works.
Trading cryptocurrencies works exactly the same, but instead of selling and buying fiat currencies, such as euros or US dollars, traders buy and sell cryptocurrencies, such as bitcoin, Ethereum or Litecoin.
For example, you might bet on the changing price difference between the US dollar and bitcoin. Or you might bet on the changing values between two different cryptocurrencies, such as by trading a BTC:ETH pair.
If you think bitcoin will increase in value, you might “go long” on it. This means betting that it will increase in value relative to the US dollar.
If you think bitcoin will decrease in value, you might “short” it instead. This means betting that it will decrease in value relative to the US dollar.
You’re not actually buying the cryptocurrency. Instead, you’re just placing an order on the market.