History of Cryptocurrency

The Beginners Guide To Crypto Rates

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The emergence of blockchain-backed assets has caused a technological breakthrough and taken investments in the world to the entirely new level. Today, many people are interested in digital assets and strive to learn about crypto investments. In this article, we will discuss the basic terms in this industry. 

Cryptocurrency Rates

Unlike traditional financial markets controlled by governments, digital assets are free of this type of control. That means neither governments nor banks issue crypto coins, so they cannot affect their supply in any way. The size of the supply of this or that digital asset is encrypted in its algorithm, and no one can change it. So it is impossible to regulate and control crypto rates by cutting the supply or “printing” additional money as they do with traditional finances. So what do crypto live prices depend on? By and large, it is only the relationship between demand and supply. Here are the factors that can shake the balance:

  • The market trend: bull or bear. During the bull trend, the demand for the crypto asset is growing, taking crypto rates up further and further. During the bear trend, the demand decreases, investors withdraw funds, and crypto rates drop.
  • News background. When it is not favorable for market growth and creates a panic mood, everything moves down.
  • Technology and real use cases. If a project is valuable from a technical point of view and has many use cases, its price is likely to grow because of a demand for it.

Guide on Trading Crypto

Trading means buying and selling crypto coins, taking advantage of their price changes. Trading may be long-term – the position trading strategy; or short-term:

  • scalping (takes a few minutes between buying and selling assets);
  • intraday (all the trades are opened and closed within 24 hours);
  • swing (a couple of weeks strategy).

To start trading crypto, you should buy assets first. The easiest way is to use a crypto converter on one of the largest crypto platforms. For example, WhiteBIT. It is as easy as possible:

  • register an account;
  • pass verification;
  • add your bank card;
  • deposit fiat money;
  • move funds to the trading balance;
  • open the calculator;
  • select your fiat currency and the crypto asset you want to get;
  • see the cryptocurrency current rate;
  • pay the fee (0,1%);

Crypto coins will be accrued in your account in a few seconds. Read more manuals and guides on trading on the WhiteBIT blog.