How To Trade Cryptocurrency: A Step-by-Step Guide
In this guide, let’s talk about how to trade cryptocurrency.
Over the years, cryptocurrencies have become the most sought after investment opportunities, with experienced traders and newer players taking part in some form of crypto trading or the other.
With the cryptocurrency market reaching new heights, it is essential to have the right know-how about crypto trading mechanics. This cryptocurrency trading guide is a step-by-step explainer that you can use to test the waters in your journey of becoming a proper crypto trader.
In this guide, we are going to take you through all the steps in order for you to The Best Cryptocurrencies To Trade. We will be going through the following sections:
The guide will cover the following sections in detail.
- Fiat to crypto trading
- Storing cryptocurrencies
- Crypto to crypto trading
Do keep in mind that mastering cryptocurrency trading is a very dynamic process. You will need to keep trading in order to get the knack of the whole process and build your “trading nose” so to speak. However, the steps we will explain in this cryptocurrency trading guide should give you a solid base to work with.
How To Trade Cryptocurrency: Fiat To Crypto Trading
First, let us understand what fiat currency is. Fiat currency refers to a traditional currency backed by a central authority (governments, financial institutions). However, these currencies do not have any intrinsic value. Examples of fiat currency are USD, EUR, GBP, AUD, JPY, to name a few. Exchanging fiat currency for the cryptocurrency is how most people enter crypto trading.
So now that we have cleared what fiat currencies are, how do you exchange them for crypto? You can trade fiat currency for crypto from cryptocurrency exchanges. You can choose several exchanges, but there are certain things that you must look for before choosing a cryptocurrency exchange. Let's name this list as the "exchange checklist."
So what are the things that someone looking to choose a cryptocurrency exchange look for? The following four points should make up everyone's checklist while looking for an exchange.
- Validity: This is the obvious one, before choosing an exchange, you must make sure that it is available in your country. Certain exchanges are not available in some countries, thanks to government regulations on cryptos. Coinbase and Binance are two of the largest cryptocurrency exchanges globally and are a safe bet. However, it is prudent to be thorough while researching which exchanges are operational in your country so that you can be 100% sure.
- Reputation: Next thing that you should look at is the exchange's reputation. How do customers rate their services? How good is the security of the exchange, and are there any vulnerabilities? Have there been any instances of hacking? These are some questions that should be asked before selecting an exchange. You can go through dedicated cryptocurrency subreddits on Reddit for more information regarding the reputation of exchanges.
- Exchange rates: Each exchange sets its rates, and the rates between exchanges vary. Before selecting an exchange, you should research a few exchanges and their rates and then choose an exchange.
- Safety: You should check the safety record of the exchange you choose. If possible, always select an exchange that does its due diligence when it comes to the safety of your money. Select an exchange that gives emphasis to KYC regulations and needs verification before letting you transact. This may seem cumbersome, but in the long run, this safeguards your money.
It is important to be thorough in your research before selecting an exchange. In this guide, we will use eToro as our reference as it is one of the largest and most popular cryptocurrency exchanges in the world.
Signing up and creating your account.
Signing up with eToro is a very straightforward process. Simply go to etoro.com and click on "sign up." Once you go to the sign-up screen, you are required to fill in the following details.
- First Name
- Last Name
Once you have created your account, eToro will send you a verification email to your registered email address. Click on "Verify Email Address" to verify your registered email address. Once you click on the link, you will be redirected to the platform. Once you are on eToro's website, sign in using your email address and password that you have set and complete the email verification process.
You will be prompted to verify your email address.
Verifying your phone number
Once you have verified your email, you have to set up the two-step verification. Select your country and enter your mobile number. Once you enter your mobile number, click on "Send Code," and you will receive a verification code on your mobile. The prompt will look like the following.
To verify your phone number:
- Sign in to eToro. When you sign in, you will be prompted to add a phone number.
- Select your country and enter your mobile number.
- After entering your mobile number, click on "Send Code" (computer) or "Continue" (Mobile). You will receive a seven-digit code that you have to enter and click on "Submit."
In case you do not receive the code, you can click on "Resend SMS."
Once you enter the verification code, click on “Submit.” You will be redirected to a page asking you if you want to transfer crypto to eToro. You can either choose to transfer crypto by selecting “Yes, Transfer Crypto,” or you can choose “Skip For Now” and transfer at a later time.
You will have to enter your personal information, as shown on your government-issued ID card. You will have to submit a copy of the ID as well. You will have to submit your date of birth and address and answer a few questions along with your first name and last name. This finishes the process of creating your account and the application process.
You must add a payment method before you can start trading. Linking a payment method on eToro is simple. All you have to do is go to "Payment Methods" and click on "Add a Payment Method." You can make payments through credit or debit cards, directly from your bank account, or wire transfer. Each payment method has its advantages and disadvantages.
Once you have confirmed your payment preferences, you will have to verify your identity. Cryptocurrency exchanges like eToro are regulated, which means that you have to comply with KYC/AML regulations before trading.
The buttons on the page's top-right allow you to buy/sell and deposit/withdraw funds into your eToro account. "Buy" and "Sell" refer to buying and selling cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. "Deposit" and "Withdraw" refers to depositing and withdrawing credit in your Coinbase account.
The eToro dashboard is simple and user friendly and displays all the information you need when trading. The tabs on the dashboard's left side allow you to navigate quickly through different sections of the dashboard. The "Home" tab displays the "Watchlist," your portfolio, and your recent transactions. The "Portfolio" tab displays your portfolio balance and your assets. The "Prices" tab displays the price of different cryptocurrencies over the past 24 hours and a tracker to see what percent the market has fallen or gained. The "notifications" tab allows you to view and manage your notifications.
eToro supports several cryptocurrencies. You can view the list here. There are several ways through which you can trade cryptocurrencies. Some of these are:
Trading cryptocurrencies through atomic swaps
An Atomic Swap is the peer-to-peer exchange of cryptocurrencies between two parties through smart contract technology that enables exchanging crypto without exchanges. Decred and Litecoin carried out the first atomic swap on the 17th of September 2017. Atomic swaps can be directly executed between separate blockchains that have their native coins. They can also be executed off-chain on channels that are offshoots of the main blockchain.
Atomic Swaps have several advantages like
- Decentralized nature
- Increased security
- Peer-to-peer trading
- Lower costs
- Enables trading between different Altcoins.
How do atomic swaps work?
Atomic swaps work using a specific type of smart contract called a hash timelock contract (HTLC). An HTLC smart contract requires two keys, A HashLock key and a TimeLock key. A HashLock key disburses the traded cryptocurrencies once the parties involved have signed off on their transactions. A TimeLock key is a safety mechanism that returns the cryptocurrency to the parties involved in the trade if the trade is not completed within a specified amount of time. Let's look at how atomic swaps work through a small example.
- Clarke deposits cryptocurrency into an HTL z address. The HTLC address acts as a virtual safe which can be accessed only through a special key.
- Clarke then shares the hash of the key with Bruce. Bruce then deposits his cryptocurrency into an address created using the cryptographic hash shared by Clarke.
- After Bruce has deposited the currency, Clarke can access the money by "unlocking" it using the unique key.
- Once Clarke has unlocked his transaction, Bruce can access the funds sent to him.
- Once both the parties involved in the exchange have access to the funds, the atomic swap is complete.
Storing Your Cryptocurrency
If you want to store and protect your cryptocurrency, you must have a wallet. Your wallet holds your public and private keys and helps in sending, receiving, and storing cryptocurrencies. Let us understand what private keys and public addresses are:
- Private keys: Your private key allows you to access and send your cryptocurrencies.
- Public address: Your public address is the address on which you can receive funds.
The public address has to be shared with individuals you are making transactions, as the public address is where you will receive your funds. DO NOT share your private keys with anyone. If anyone gains access to your private keys, then you can lose all the funds in your wallet.
Cryptocurrency wallets fall into two categories, Hot Wallets, and Cold Wallets.
Hot wallets are easily accessible but are vulnerable. Cold wallets are not practical for day to day use but are very safe. A hot wallet is similar to the wallet that you carry around in your wallet, convenient, giving you easy access to your money. On the downside, they are pretty vulnerable. Cold wallets are like your bank account, not practical for day-to-day use but more secure than a hot wallet.
Hot wallets are wallets connected to the internet. Exchange wallets, Desktop wallets, mobile wallets, and multi-signature wallets are examples of hot wallets. Hot wallets have several advantages and disadvantages.
Advantages of a hot wallet
- It gives users quick and easy access to their funds
- Various devices support it.
- Hot wallets are user-friendly and are ideal for beginners.
Disadvantages of hot wallets
- Hot wallets are vulnerable to hacks and online security threats.
- The device needs to be protected. If the device is damaged, the wallet gets damaged as well. The keys need to be backed up to avoid this.
- Robbers could rob the device on which your wallet is stored.
What Are The Different Types Of Hot Wallets?
Exchange wallets are auto-generated when you create your account. When you make your Coinbase account, you automatically create your exchange wallet. An exchange wallet is already connected to your account, which enables you to trade quickly and easily. However, exchange wallets have risks as exchanges are under constant threat from hackers. We recommend keeping only a small amount of your cryptocurrency in your exchange wallet, preferably an amount that you need for trading.
Desktop and mobile wallets
Desktop wallets can be downloaded onto a laptop or computer and can be accessed once downloaded. They are easy to set up. Just download and install the client on your desktop. They offer better security than exchange wallets and provide some convenience; however, desktop wallets do have security issues. If a hacker were to gain access to your laptop, he could also gain access to your desktop wallet. Also, if your computer is stolen, then there are chances that your wallet could be compromised. Desktop wallets also offer less flexibility since you can access them only from the machine you have downloaded. Multibit is a popular desktop wallet. You can learn how to set up a Multibit wallet here.
Mobile wallets are similar to desktop wallets, the difference being that they are downloaded on your mobile device. The mobile app lets you access your cryptocurrency and allows you to spend your cryptocurrency through a QR scanner. Mobile Wallets offer greater flexibility to users, allowing them to do transactions on the go. MyCelium is an excellent mobile wallet that runs on both Android and iOS. You can learn how to set it up here.
The wallets mentioned above have one issue, they are vulnerable to hackers and viruses because they are connected to the internet.
Multisignature wallets require two or more private keys for a transaction. Think of it as a lock that needs multiple keys to be opened. Funds raised through ICOs are typically stored in Multisignature wallets. What are the advantages that a Multisignature wallet has over other wallets?
- Better security: Multisignature wallets offer better security because users can access them only through multiple keys instead of a single key. It reduces the need to rely on one person and provides better protection from hacker attacks.
- Reduces dependency on one device: Users can save one key on their mobile device and one key on their laptop/desktop. This reduces the risk of the funds in your wallet becoming compromised if the device is lost or stolen.
- Protection against corruption: ICOs use Multisignature wallets to collect and save funds for projects. It is preferable to have these funds in Multisignature wallets not to keep the keys with one individual.
BitGo is a popular Multisignature wallet. Let us take a look at how it works to get an idea behind a multisignature wallet's functioning.
- BitGo issues three private keys. One key is for the company, the second key is for the user, and the third key is a backup key.
- Transactions would require two out of the three keys assigned to the wallet.
- In a situation where the wallet is compromised, the hacker will not be able to access the funds in the wallet because he won't have the second key required to access the wallet.
This video is an excellent guide to setting up your BitGo wallet.
Hot wallets give you easy access to your cryptocurrency but have a lot of security risks. Experts recommend cold wallets to store the majority of your cryptocurrencies. A cold wallet is stored offline, securing it from hackers and viruses. Examples of cold wallets are hardware wallets and paper wallets.
Advantages of Cold wallets
- Ensures complete safety from hackers and viruses
- Cold wallets are perfect if you intend to hold your cryptocurrencies for a long duration.
Disadvantages of Cold wallets
- Cold wallets cannot be used by beginners, as there is a learning curve.
- Vulnerable to human carelessness (Can be misplaced or stolen)
- Not practical for daily transactions.
Let us look at the types of cold wallets in a little more detail.
Hardware wallets are physical devices that are used to store cryptocurrencies offline. Hardware wallets are gaining popularity because they offer storage and security while making transactions straightforward. USB style hardware wallets are the most popular type of hardware wallets.
Advantages of hardware wallets
- Hardware wallets are cold wallets, meaning your private keys are stored securely offline. You cannot transfer the keys out of the device.
- Hardware wallets are portable and can be carried around with ease.
- Hardware wallets make transactions easy. All you have to do is plug in your wallet to your laptop and follow the instructions to complete your transaction.
- Hardware wallets are highly secure.
- You can store multiple addresses on your hardware wallet.
- Hardware wallets are protected by a pin code, so if your wallet is compromised. Your funds will still be secure. If anyone enters the wrong pin-code thrice, the wallet shuts down. If your wallet is shut down and you need to recover your funds, you can follow restoration guides and recover your funds.
Disadvantages of hardware wallets
- Hardware wallets can have vulnerabilities that can put your funds at risk. An example of a vulnerability would be the vulnerability discovered in Ledger. The issue has since been fixed.
- Hardware wallets can be damaged or stolen.
- Hardware wallets are less versatile when it comes to storing different types of coins.
Setting up a hardware wallet
Let's use Trezor as an example to help you set up your wallet. Trezor is a Prague based company that makes one of the most easy-to-use hardware wallets in the market. It is compatible with Windows, Mac, and Linux. Using it is easy. All you have to do is download it on your computer and connect it with one of My Trezor, MultiBit, or Electrum.
- Connect the Trezor wallet to your computer
- Go to Trezor.io/start. You can also learn how the Trezor pin and recovery seed works.
- Install the Trezor wallet. To communicate with your Trezor wallet, you can use the Trezor Chrome extension or the Trezor Bridge.
- Install the latest firmware.
- Unplug your Trezor wallet, reconnect it and then go to wallet.TREZOR.io
- Give your Trezor device a name.
- Set up your Trezor pin, enter the same pin on the browser, and your Trezor wallet.
- Write down the unique combination displayed by your Trezor wallet. This is the recovery seed.
- On wallet.TREZOR.io, enter your pin and access your wallet for the first time.
If you want a detailed explainer, you can refer here.
Let us now look at how to set up a Ledger Nano wallet.
Setting up your Ledger Nano wallet is simple. All you have to do is follow the steps below.
- You will need your Ledger Nano cold wallet, a computer connected to the internet, and the Ledger Live application installed on your computer.
- Connect your Ledger Nano wallet to your computer. Once connected, your device will display "Welcome To Ledger Nano." If your device asks for a PIN code immediately after you connect it, please contact the Ledger Nano team and refrain from using the device.
- Navigate through the on-screen instructions using the "left" and "right" buttons. To select the "Set up a new device" option, press both buttons simultaneously.
- When "Choose PIN Code" is displayed on the screen, press both the buttons.
- Press the left or right button and choose the first digit of your pin code. Press both the buttons to confirm and enter a digit.
- Repeat until you have entered eight digits.
- Select checkmark and press both buttons simultaneously to confirm the PIN.
- Your device will ask you to enter your PIN again to confirm the pin.
Now that you have set up your PIN, you need to write down the 24-word recovery phrase.
- Once your PIN is confirmed, your device will display the recovery phrase word by word on the screen. The recovery phrase is the only backup you have of your private keys and is displayed only once.
- Take the blank recovery sheet and write down the first word (word #1) on the sheet. Ensure that you have copied it correctly in the correct position (Position 1)
- Move to the second word (word #2), make sure that you write the word in the correct position (Position 2). Repeat the process until you have written down all 24 words.
- After writing down all the words, press both buttons and confirm the recovery phrase.
- Select the requested word on your device, navigate using the left and right buttons, and validate it using both the buttons. You will have to repeat this step for each word.
- Your device will display "Processing," and when the setup is complete, it will display "Your device is ready."
- Access the dashboard by pressing both buttons simultaneously.
You can refer to this video.
Paper wallets are the safest option when it comes to storing your cryptocurrency. Once you have created an offline wallet, you can print the private keys and the public keys on a piece of paper. The keys are also printed as a QR code, which can be used to access your funds. If you plan to store your funds for an extended period, then paper wallets are ideal. You can check out Walletgenerator.net and MyEtherWallet.com. The Walletgenerator supports 197 different currencies, including the major cryptocurrencies, while MyEtherWallet is more focused on Ethereum and Ethereum based tokens.
Walletgenerator has an easy, user-friendly interface. Walletgenerator also gives you the option to create multiple paper wallets, and it supports 197 cryptocurrencies, including all the major ones. You can refer to this video to understand how you can create a paper wallet. Once you have completed your paper wallet, you will see the following.
Print this and store it in a safe location. Before printing, ensure that the printer is not connected to the internet.
MyEtherWallet is a wallet that supports Ethereum and Ethereum-based tokens. For individuals who are looking for a wallet that supports them, MyEtherWallet is the best option. You can refer to this video to learn how to set up MyEtherWallet.
After creating your MyPaperWallet, you will see the following.
Follow the same process as Walletgenerator, print and store it safely, and ensure that the printer is disconnected from the WiFi.
How to Restore a Cold Wallet?
To restore your cold wallet, you must import your private key to an online wallet. Most wallets have a similar process, as shown below.
- Open the client and click "Help."
- Select the debug window
- Type in "importprivkey" replace with your private key.
How To Trade Cryptocurrency: Crypto-to-Crypto Trading
Let us now look at using our crypto to buy other cryptos. Most exchanges allow users to purchase other cryptos using only Bitcoin. To purchase other cryptos, we need to create an account in an exchange that allows crypto-to-crypto trading. For our example, we will be using Binance, one of the world's top cryptocurrency exchanges. There are two ways in which you can register on Binance, through email and an app. Here we shall look at registering with an email.
Go to Binance and click on "Register" as we are creating a new account. Once you click on "Register," you will be redirected to the "Create Account" page. You have two options here. You can either create an account using your email, in which case you will have to enter the email ID that you want to associate with Binance, enter your password, and you're good to go. Registering with your mobile enables you to register using your mobile number. Enter your mobile number, set up your password, and you are good to go.
If you have a referral ID, you have the option of providing that, although it is not mandatory. Check the box after reading the Terms of Service and click on "Create Account."
Once you click on “Create Account,” a security verification prompt will pop-up, all you have to do is solve an easy jigsaw puzzle and verify that you aren’t a robot.
Once you confirm that you aren’t a robot, you will receive an email on your registered email ID. The email contains the activation code that you have to enter once you have completed the puzzle. Enter the code and verify your account. The code will be valid only for 30 minutes, so be quick.
Once you have entered the verification code, you will see a "Welcome to Binance" message. The page will also tell you how you can get started with Binance. You can deposit cash, deposit crypto or buy crypto with your credit card. You can select one or skip this step for now and click on the "Go To Dashboard" button on the page's top-right.
Once you click on “Go to Dashboard,” you will be redirected to your dashboard. You will also see this prompt as soon as your dashboard loads.
Although you can skip this step, we highly recommend that you complete the security verification to secure your account fully. There are two ways through which you can verify your account: phone verification and Google verification. Let’s do both, so we have an understanding of how each works.
If you click on “Phone Verification,” you will be redirected to the SMS authenticator page. Select your country and enter your mobile phone number. Click on “Send Code” for the SMS verification. You will receive the verification code on your mobile number. Enter the code and then move on to the email verification code. Click on “Send Code” for the email verification. You will receive a six-digit verification code on your registered email address. Enter the code and click on “Submit.”
For this step, you will need your mobile phone. The Google verification process takes four steps to complete
On your mobile phone, download and install the Google Authenticator App. (Play Store for Android and App Store for iOs users). Once you install the app, click on “Next.”
Once you click on “Next,” you will see a QR code and a code written next to it. Make a note of the code. If you can’t scan the QR code, you can manually enter the code into the app. Open the Google Authenticator App and scan the QR code. After scanning the code, click “Next.”
Once you click “Next,” you will be prompted to take a backup of the recovery key. Take a backup of the key and click “Next.” This key will help recover your Google Authenticator in case you lose your password.
After clicking “Next,” you have to enter the key, your login password, and the authentication code generated when you scanned the QR code. After entering the code, click on “Next.” and your Google authentication is complete.
To enhance the security of your account, you should enable two-factor authentication (2FA).
Trading on Binance
Now that you have your account set up let us get to the topic of trading on Binance. Binance has a user-friendly UI, and it is simple to get the hang of it. Also, several explainers are available online to help you understand and gain an in-depth knowledge of trading on Binance. We recommend this one from Binance academy. You can also refer to this video.
Binance has its native token called Binance Coin, allowing users to pay for some services at discounted rates.
- Trading commissions that users have to pay for trading on the Binance platform.
- Withdrawal fees
- Commission lists
Using the native Binance token, users can avail of a 50% discount in the first year. This discount will gradually decrease over time.
How To Read A Cryptocurrency Trading Chart?
Usually, charts are too intimidating for the average trader, and most don't end up reading them at all. Instead, they buy crypto based on what they hear or what other traders are buying. However, you must know how to read a cryptocurrency chart to understand the markets better. Let us look at a couple of popular trading charts.
The Japanese Candlestick Chart
This is probably the most popular cryptocurrency chart. Most, if not all, cryptocurrency exchange websites have these charts displayed on them. A candlestick chart helps traders to understand the market's open price, high and low price, and the close price. The wide part of the candlestick is known as the real body. It represents the price range of the open and close prices of the days trading. Let's try and make sense of the chart.
If you look at the chart above, which is the daily candlestick chart for BTC/USDT from Binance, each candle represents a movement in an asset's price during a specific time. Each candle has a body and a couple of shadows at the top and the bottom. The candles represent how high or how low the opening and closing prices have gone. If the candle is green, the upper shadow is the close price, and the lower shadow is the open price. The opposite applies to red candlesticks. There are several articles or videos that you could refer to understand these patterns.
Candlestick charts help you understand when the markets turn and help you identify patterns that can better predict the markets.
Relative Strength Index
The Relative Strength Index measures the market's price movement's strength and speed by comparing the current price of a cryptocurrency with the historical price performance. How does it do this? It compares the magnitude of recent gains to recent losses and determines if a cryptocurrency has been overbought or oversold. The RSI uses the formula RSI = 100 - (100/(1-RS))
RSI refers to the ratio between the average of days the coin was up to the average of days the coin was down. Now let us look at what the RSI graph looks like.
Select “RSI” from the indicators tab. Once you click, a blue graph appears under the candlestick chart, as shown above. We are checking the daily RSI here. While checking, keep a few things in mind.
- The RSI ranges from 0-100
- When the RSI of a cryptocurrency approaches 70 or crosses it, then that currency is considered “overbought.” In simpler terms, it is overvalued, so its value may go down.
- If the RSI approaches 30, the cryptocurrency is undervalued, and its value will go up sooner rather than later.
The RSI is a pretty useful indicator to help while trading, but it does have a couple of issues. Keep in mind that the RSI is not immune to false buy and false sell signals. These can be created by a large rally or a drop in the price of a cryptocurrency. RSI should be used along with other indicators to predict the price of a coin accurately.
Let’s now take a closer look at the RSI graph.
In the chart above, you can see where the RSI inches towards 70 at the chart's start. You can also see when it nears 30 and also goes below 30 when the graph dips into the red at a couple of points in the middle of the chart. (Wednesday). RSI charts are easy to understand and give you an idea of the market sentiment.
Where To Trade Cryptocurrency
There are several exchanges where you can trade cryptocurrency. Here are a few exchanges that we recommend:
- Binance: Founded in 2017, Binance is one of the most popular cryptocurrency exchanges in the world.
- Coinbase: Coinbase is an excellent exchange for beginners. It is extremely user-friendly. Users can also buy crypto using USD.
- CoinJar: CoinJar is another beginner-friendly cryptocurrency exchange. CoinJar's exchange and the CoinJar OTC trading desk cater to professional traders and businesses that make large transactions. The CoinJar iOS and Android apps also let users trade on the go.
- Bittrex: The Bittrex exchange was founded in 2013. It offers excellent security and a simple, user-friendly interface, giving users access to over 500 markets.
- BitMEX: BitMEX is an exchange that is preferred by advanced traders. Professionally run by economists, developers, and Algo-traders, it gives user safety a lot of attention, employing multi-factor security.
This guide is a brief introduction to the world of cryptocurrency trading, enough to get you a basic understanding of trading and get you started. We have covered enough topics to give you a strong understanding of different concepts, cryptocurrency exchanges, Hot and cold wallets, read graphs, and the best crypto exchanges to get started.
The section of the guide talking about registering and creating an account on Binance and Coinbase should get you started with trading. Trading is easy as long as you follow the concepts, understand the risks involved, and invest sensibly. The section about hot and cold wallets should give you a basic understanding of which types of wallets are better and more convenient and how to safeguard your cryptocurrencies from hackers and viruses. The section on crypto-to-crypto trading and charts should help you understand how the market works, how to read charts, and maximize your profits through trading. We genuinely hope this guide enables you to get started on your cryptocurrency trading journey.