The most important info about crypto trading account

Recently, even those who are not very good at computers have heard about such a new phenomenon as cryptocurrency. Electronic money appeared around 2005–2008, and only representatives of a small circle of IT specialists knew about it. It was they who made the first investments in this area, and in a short time it helped them to become wealthy people. Only a few of us, however, heard stories about successful students who bought 1000–2000 Bitcoins for the sake of interest and successfully forgot about them, and after a few years they suddenly turned out to be dollar millionaires.

Seeing the promise of crypto currency and a lot of advantages of its use, many people tend to start using this money on crypto trading account. There are also those citizens who want to try themselves in the role of an investor without breaking privacy policy and try to earn money with a rapidly changing course of a particular coin. The options for storing deposits of crypto currency are numerous, and we will look at the most interesting ones.

The basic concept of account in cryptocurrency trading

All variants of accounts for storing and conducting operations with cryptocurrency, with the margin or without it, can be divided into two wide categories: The choice depends on the trader. Each method has its own advantages and disadvantages. Start with choosing any of them.

Accounts in special programs

The first category includes accounts that are created in special programs on computers and gadgets. This method has many advantages:

• Simplicity, clarity and accessibility;

• you don’t depend too much on the Internet contact in order to control your money;

• there is no even the slightest risk of losing savings;

• funds of bitcoin cash are available to the owner at any desired time.

The last aspect is the most important one, especially for those who have just started.

Accounts in special services

There are accounts for your assets in special services, on exchanges. They are beneficial due to the fact that they allow you to quickly conduct any financial transactions - buying, selling, exchanging litecoins and btc for other coins or currency, paying for purchases, etc. the probability of one day being deceived. Let us consider some examples of crypto trading account from both points.

Special apps

There are a large number of popular programs for PCs and smartphones in which you can create wallets for cryptocurrency, learn new info, trade and control the liquidity of your assets, buy and sell. Each of them has its own characteristics and advantages. Let us consider the top ones.

Electrum

It is an excellent digital account, one of the best in the list with a simple and intuitive interface. It is extremely simple to open an account there:

  • It is necessary to download the application on a computer, then to install it;
  • when you first start, the program will provide a support and ask the user to enter a specific set of data and go through the registration process;
  • Create a new Seed-key (it is designed to restore access to your money on any computer). It is very important to keep it;
  • Invent a password, remembering about security;
  • then it remains only to log in to your account under the specified login and password and surely use the account and the balance created in the trading platform.

What can you do with an Electrum account? Almost everything with an online account in any popular service, for example, buy and sell. Convenient information output and useful tools help you quickly see the latest committed transactions and detailed information about each of them.

JAXX

This advanced, easy and mobile application for brokers is different because it allows you to open accounts for several crypto currencies at once (BTC, Ethereum, ETC, ZEC, DASH, LTC), which makes it easy to carry out any operations between them and usd. Here you can open a Bitcoin wallet account, as well as create an account for any of the trend currencies. The program is equipped with the following functionality:

• the ability to view your Seed key;

• synchronize data between different devices and gadgets on which JAXX is installed;

• see private keys for bitcoin cash.

The installation is identical with the previous version, according to the professionals’ blogs. The only thing is that at a certain stage the trading platform will ask you to choose cryptocurrencies that you will use. For some services, commission is possible.

Online services

The most popular option for storing any cryptocurrency is to create an account in a variety of services, platforms or financial exchanges. It helps you to always be an active participant in the market, to trade and to sell, to deal with different currency pairs. Here are some great websites for this.

Blockchain info

Blockchain.info is one of the most popular resources that offer the ability to create a Bitcoin wallet. It is considered one of the most reliable and efficient resources. Access to your volume of money here is easy, it is possible through any device: a smartphone, tablet or computer. How to create a wallet on Blockchain.info:

  • first you need to visit the site blockchain.info;
  • next, the user must click on the button “Create a new wallet”;
  • enter the required data in the window that appears;
  • also do not forget to write the data in a notebook.

Now it remains only to log into your personal account and get a bitcoin address, which is also the wallet number. You shouldn’t pay any fee for that.

After this simple procedure, which takes less than 2 minutes, you can work with cryptocurrency.

Exmo.com

Another popular online service for storing some amount of bitcoins or other coins. Let us consider the instructions for brokers on how to open an account for cryptocurrency on Exmo:

• the first step is to visit the site https://exmo.com;

• click on "Register";

• fill in the registration form according to the usual form;

• click on the tick of the agreement with the terms of service.

After that, the registration will be performed and the accounts for working with the funds are automatically opened. Also, you will see info about the leverage and other important aspects.

The use of special devices

If we talk about the best way to store virtual currency in the dollar world, then the hardware crypto trading account is exactly that. Its essence lies in the fact that the owner of a cryptocurrency must acquire a special device in appearance resembling a regular USB flash drive. This is a kind of safe for cryptocurrency, of course, it will be almost impossible to crack it, at least in case if the user does not lose the hardware wallet.

The choice of such devices is large, but the leading position in the market is occupied by such devices as the companies Trezor or KeepKey. In order to become the owner of a hardware wallet, it should be purchased. Most likely, in foreign stores, its cost is about 5,000–6,000 rubles. And one more essential nuance, it will take about 3-4 weeks to wait for its delivery. It will be rather simple to use such a device, the cryptocurrency stored on the accounts of hardware wallets is reliably protected from theft. It is a perfect kind of bitcoin cash.

Practical guidance

A USB flash drive can only be connected to any device, such as a tablet or personal computer, in order to gain access to the wallet. Logging into the trading platform is carried out using a private key, so even if the device is lost, attackers can hardly access it. So, nobody can buy and sell your assets without your permission.

The possibility of opening account in the bank

It’s worth starting with the fact that in some countries Bitcoin and other cryptocurrencies are really used as cash money, in other words, you can buy real goods with the help of virtual coins. For example, in Cyprus, a few bitcoins were taken back to pay for university tuition. Unfortunately, in our country the turnover of bitcoins and other cryptocurrencies (for example, ripple) is in no way regulated.

Despite the fact that the government has already considered the option to legitimize the circulation of virtual coins and its rate, at the moment this decision has not been made. Accordingly, it is impossible to store virtual coins, in particular, Bitcoin. It follows that banks in virtual coins will not open an account for you, at least this possibility does not exist until the use of virtual coins is stipulated at the legislative level.

Important advices

Trading in financial instruments, including instruments of the Forex market, is a high-risk activity, coupled not only with the possibility of making a profit, but also with the risk of causing losses.

Transactions (trading) with currencies, CFDs and other instruments in the financial markets and policies are connected with financial losses and traders’ withdrawals (the size of which can be significant). If you have not fully mastered the specifics of trading in financial markets, these risks increase, so you should ensure that you have the necessary knowledge and / or undergo appropriate training.

Increasing personal awareness of the principles, signs, patterns and characteristics of efficient trading in financial markets (including Forex), as well as improving personal financial literacy is an additional guarantee of successful trading.

Conclusion

A cryptocurrency account is your opportunity to use electronic money for profit right now, and not to wait for the moment when they increase in price. You can replenish your account and withdraw funds immediately in Bitcoins without additional conversions. At the same time, the same trading conditions are available to you, which are valid on Standard and Professional accounts. You can choose any account you like.

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