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How to TRADE Crypto (FAST as a Complete Beginner!)

2024-12-08 09:258 min read

Content Introduction

This video tutorial provides a comprehensive guide on making your first cryptocurrency trade. It covers choosing a reputable centralized exchange, navigating trading screens, and the process of buying and selling cryptocurrency. Key points include understanding trading fees, selecting the right fiat currency for deposits, and using market and limit orders effectively. The tutorial emphasizes the importance of knowing trading pairs, monitoring market prices, and executing trades. It highlights how to set order prices, review current bids and offers, and manage trades through a user-friendly interface. Additionally, viewers will learn about the necessity of completing KYC (Know Your Customer) verification to trade, as well as tips for safely transferring funds into exchanges. The presenter shares personal experiences, recommends tools and resources for beginners, and encourages viewers to follow along for future tutorials.

Key Information

  • The video demonstrates how to make your first cryptocurrency trade, including navigating a trading screen, buying, selling, and transferring money between exchanges.
  • To trade, you need to select a reputable centralized exchange where you can deposit your money and trade it for cryptocurrencies.
  • Popular exchanges mentioned are Binance, OKX, Buybit, Crypto.com, and Coinbase, along with the importance of checking trading fees, which can vary by platform and country.
  • Users can choose between market orders, which buy at the best available price, and limit orders, which specify the desired price for buying or selling a cryptocurrency.
  • Trading pairs are crucial, as they determine against which currency or cryptocurrency you are trading, and examples include BTC to USD or BTC to other stable coins.
  • The video emphasizes the importance of understanding the order book, where buyers and sellers list their offers, and market dynamics that influence prices in real time.
  • It concludes with recommendations for tutorials, deposit bonuses from exchanges, and suggests a four-hour trading course for further learning.

Timeline Analysis

Content Keywords

Crypto Trading

In this video, you will learn how to make your first crypto trade, including navigating trading screens, buying, selling, and transferring money in and out of exchanges. It offers insights on reputable exchanges like Binance, Coinbase, and OKX, and how to trade cryptocurrencies.

Market Orders

Market orders are explained as an instruction to trade at the best available price without specifying a price limit. This method is quick and typically used to buy or sell cryptos at current market rates.

Limit Orders

Limit orders allow traders to specify the maximum price they are willing to pay when buying or the minimum they are willing to accept when selling. It provides more control over trades compared to market orders.

Trading Fees

The video emphasizes understanding the trading fees associated with various exchanges, illustrating that users should consider these fees to optimize their trading experience.

Depositing Money

Instructions on how to deposit money into exchanges, including the need for fiat currency and choosing suitable currency pairs for trading, are discussed.

Trading Screens

Trading screens on platforms like Bybit, Binance, and Crypto.com are similar. The video discusses how to visualize price charts, bids, and offers when trading.

Cryptocurrency Pairs

The concept of trading pairs is clarified, indicating that cryptocurrencies are traded against each other or against fiat currencies. Specific examples include BTC/USDT and BTC/USD.

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