Wealth Accelerator Academy

shadow-ornament

In this course you will learn every step of the process for creating your own wealth, lifestyle and freedom

Introduction to trading with Bitcoin

Crypto Basics

There are 2 ways: via Exchange or Margin Trading

Short definition (again):

  1. Bitcoin: is a consensus network that enables a new payment system and a completely digital money.
  2. Alternative Cryptocurrency Coins (Altcoins): Alternative cryptocurrency coins are also called altcoins or simply “coins”. Altcoins simply refers to coins that are an alternative to Bitcoin.
  3. Tokens: Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.

How do crypto exchanges work?

They allow exchanging one cryptocurrency for another, the buying and selling of coins, and the exchange of fiat money into crypto.

What is margin trading?

You make trades using money borrowed from someone else – or a brokerage. While the potential rewards can be high, there are some risks that investors need to contend with too.

What are cryptocurrency pairs?

Trading pairs of cryptocurrencies allows you to profit from the currencies changing rates — it is the main business for crypto traders.

 

Basic pairs vs. USD

BTC/USD or BTCUSD (Bitcoin vs USD)

Coin/USD (ETH/USD, XRP/USD, ...)

Token/USD (BNB/USD, BAT/USD, ...)

 

Basic pairs vs. BTC

Coin/BTC (ETH/BTC, XRP/BTC, ...)

Token/BTC (BNB/BTC, BAT/BTC, ...)