Secure Trading Group joins hands with Bit4.Sale – European …
Reading Time: 3minutes
Investing in cryptocurrencies is still a very attractive option to make money. Although we are already nearing the end of 2018, the party is still young. It will take a long time before the average John Smith will know how to play “games” with crypto. But in this article, if you’ve been such a typical John Smith so far, today you can see how to start your adventure with cryptocurrencies.
Investing in crypto is definitely not a new form of gambling but as you’ll quickly notice, using exchange sites looks a bit like playing games, you predict the price of a cryptocurrency at the given moment just like at the prediction market like Fairlay which is why we decided to name this article this way. We hope you’ll easily understand our introduction on how to play games with crypto!
Step 1 – Choose exchange site
To play games with crypto – first what you need to do is to choose exchange site. In this place, you buy Bitcoins or another crypto currency available there. You simply change “real” money like dollars, euros etc. for the virtual currency.
We will not suggest specific currency changers in this article. However, remember first of all to pay attention to omitting huge fees that can “eat” a significant part of your investment.
Step 2 – Purchase
In each of the money changers, the purchase looks similar. Usually, you choose the “buy bitcoins” option and give the amount for which you want to buy them. You can choose any amount – probably when starting to play games with crypto you’ll start with a small amount, so your balance will look for example like this: 0.00456245 BTC. When you buy, you usually have many options to choose from: it can be both a transfer and a card payment. After a short time – few minutes or hours – you will see your Bitcoins (or other virtual currency) in your wallet.
If you bought Bitcoins and you want to keep them, you do not have to do anything more. However, if you want to exchange them for a different currency, read Step 3.
Step 3 – Stock exchange selection and registration
To buy another crypto – you must register at one of the stock exchange sites. Each site has different exchange rates of particular currencies, has the ability to buy some other cryptocurrencies, or has another – less or more comfortable – interface.
When starting to play games with crypto, do not worry about complex security features like Google Authenticator, or verifying your IP. They are designed to protect your money.
Choose your stock exchange site wisely by taking into consideration the above mentioned factors and doing the right research on the Internet.
Step 4 – Sending your Bitcoins
To trade a crypto – you must now transfer the previously purchased Bitcoins to the wallet assigned to your account. To do this, search your wallet in your cantor and then choose the “send bitcoins” option. Within a dozen minutes or a few hours you should have BTC on the stock exchange site.
Step 5 – Purchase of other cryptos
Once you have BTC, you find the crypto that interests you (usually on the main page using the search engine). Then, you should look at the BUY window. You put there the amount with which you want to play games with crypto and how many pieces you want to buy.
Few hints on how to play games with crypto
Remember that this is a stock exchange, so you set the price yourself, and with each exchange, you pay a fee. Therefore, it is not worth exchanging cryptocurrencies a dozen times a day.
It is worth to play games with crypto on the low rates. Looking at the graphs you see such a red, long candle and you see that the rate is lower than in the last few hours.
If you want to buy something immediately, then use the market prices, and you can even set a very attractive price, which someone will buy instantly.
You can also get familiar with trading, another way to play games with crypto. It means constant buying and selling due to reading a chart or information you get from someone.
When you buy / sell something, you have a bookmark in the stock exchange where you have your orders and transactions.
Remember that for each cryptocurrency you have different wallet address! For example, if you want to transfer BTC from one exchange to your wallet on the second stock exchange, you must use address pairs BTC -> BTC. Committing an error here can be very expensive!
How to play games with crypto? It’s still the beginning
In order to successfully invest in cryptocurrencies, you still need many skills and information, but at the beginning learn our introduction and understand the principles of registration and basic transactions. With time, everything will become simpler and simpler. We strongly encourage you to learn in practice how to play games with crypto!