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By Amit Chahar
Key Takeaways
Crypto trading involves buying and selling digital currencies like Bitcoin and Ethereum to profit from market price fluctuations.
To trade crypto, you must create an account on an exchange, deposit funds, choose a coin to trade, and execute buy or sell orders based on market trends.
The best strategies include day trading crypto, swing trading, scalping, and holding long-term (HODLing), each suited to different risk levels and time commitments.
According to CMC data, the cryptocurrency market cap is over $3.4 trillion USD. Cryptocurrency trading might sound confusing at first, but it’s actually something anyone can learn with the right guidance. In this guide, we will show you how to trade cryptocurrency, different strategies, factors to consider, and much more in a step-by-step guide.
Cryptocurrency trading involves buying, selling, or exchanging digital currencies such as Bitcoin, Ethereum, and others. Instead of trading stocks or commodities, you deal with cryptocurrencies, which are digital assets built on blockchain technology. This technology ensures secure and decentralized transactions without central authority control.
Traders engage in cryptocurrency trading to earn profits by taking advantage of changes in market prices. These trades occur on top cryptocurrency exchanges like Binance, Coinbase, or OKX. Some people trade long-term, holding cryptocurrencies to benefit from potential future price increases. Others prefer short-term trading, making frequent trades based on daily or hourly price changes.
There are different trading strategies, including spot trading, where you buy and sell the actual digital asset, and derivatives trading, which involves up to 200x leverage on major trading platforms.
Cryptocurrency trading is easy when you know the steps. If you are a beginner, don’t worry. Follow this guide, and you can start trading today.
First, you need to create a crypto exchange account. This is like a marketplace where you can buy and sell cryptocurrencies. Some of the popular exchanges are Binance, Coinbase, Bybit, and KuCoin. In this guide, we will use Binance, one of the world’s most popular and trusted crypto exchanges, to show you how to trade step by step.
First, go to Binance’s official website or download the Binance app. Click on “Sign Up” at the top-right corner if you are using the website.
You need to provide your email address or phone number and create a strong password. Binance will also ask you to verify your account. To do this, upload a government ID like a passport or driver’s license. Once Binance confirms your identity, your account will be ready to use.
Binance is free to join, and it supports users from over 180 countries. Make sure you enable two-factor authentication (2FA) for extra security.
After creating your account, log in to Binance. On the dashboard, click “Wallet” and then choose “Overview” and “Deposit”.
Now, deposit funds into your Binance account. Binance gives you many ways to deposit money:
Let’s say you deposit $100 through your card. After the deposit, your funds will show in your Fiat Wallet. You can now use this money to trade.
On Binance, go to the “Markets” tab on the main menu. Here, you’ll see 350+ cryptocurrencies to trade. Popular options include:
Binance also lists smaller coins (altcoins) like Dogecoin, Solana, and Shiba Inu. If you are a beginner, it’s better to start with larger, more stable coins like Bitcoin or Ethereum.
Before you trade, decide how you want to trade. A strategy is like a plan that helps you know when to buy or sell. Let’s look at some common strategies:
Choose a strategy that fits your time and experience. Never trade without a plan because crypto prices change fast.
When you log into Binance, go to the “Trade” section and choose “Spot”. You’ll see a chart showing how the price of your selected cryptocurrency has moved over time.
Let’s say you want to trade Bitcoin. In the top-left search bar, type “BTC” and select a trading pair like BTC/USDT. A trading pair means you’re trading Bitcoin with Tether, which is a stablecoin equal to one US dollar.
You have two main order types when trading: Market Order and Limit Order. 
Binance also supports other cryptocurrency trading methods like 10x margin trading, 125x perpetual futures trading, and options trading.
Once you make a trade, your coins will appear in your Binance wallet. You can sell them later when the price goes up, withdraw them to a wallet, or trade them for other cryptocurrencies.
After buying, you need to store your coins. Binance automatically keeps your coins in your account wallet, but this is only for short-term trading. For long-term holding, use a secure crypto wallet.
On Binance, you can use the Binance Trust Wallet, which is a free hot wallet. It’s easy to use but connected to the internet, so it’s less secure.
If you want maximum security, buy a hardware wallet like Ledger Nano X or Trezor Safe 5. These wallets cost around $50–$150 but are offline, so hackers can’t access them.
When trading cryptocurrency, you need to decide when to buy or sell. Two important ways to make this decision are fundamental analysis and technical analysis.
Fundamental analysis is about checking the big picture of a cryptocurrency. It’s like asking, “Why is this coin valuable?” You look at things like the purpose of the coin, the team behind it, and how it works.
Bitcoin is valuable because it is decentralized, scarce, and widely accepted. Ethereum is popular because it supports smart contracts and many decentralized apps.
You also check news and events. For example, when big companies like Tesla or PayPal accept Bitcoin, its price usually goes up. If a country bans crypto, the price may fall. Another thing to check is the supply of the coin. Bitcoin has a maximum supply of 21 million coins, which makes it scarce and valuable. Compare this to coins like Shiba Inu, which have trillions in supply and are much riskier.
Technical analysis is different. Instead of looking at news or projects, you focus on charts and numbers. You study how the price of a coin changes over time. Binance and other exchanges have price charts where you can see trends.
In technical analysis, traders use tools like moving averages, which show the average price over a specific period, and RSI (Relative Strength Index), which tells if a coin is overbought or oversold. For example, if the RSI is above 80, the coin might be too expensive and ready to drop.
Pro Tip: Some traders use both methods together. For example, you might use fundamental analysis to pick a good coin like Ethereum and technical analysis to decide the best time to buy it. This way, you combine the long-term potential of the coin with short-term price movements to trade smarter.
In the end, learning how to trade cryptocurrency is not that hard if you take it step by step. Start by picking a safe crypto exchange like Binance or Coinbase, and always use a secure crypto wallet for your coins.
It’s smart to begin small – maybe $50 or $100 – so you can learn without losing much. Remember, crypto prices can change fast, so take time to study charts, trends, and the coins you want to buy. Popular ones like Bitcoin and Ethereum are great for beginners, but smaller coins can also have big potential.
Most importantly, never invest more than you can afford to lose. Trading crypto is about patience, learning, and staying updated on what’s happening in the market. If you’re careful and consistent, it can be an exciting way to grow your money.
Crypto trading is not as easy as it looks at first. You can’t just buy some coins and expect to make money right away. It’s learning a game – at first, it’s confusing, but you get better over time.
Beginners often make mistakes like buying when prices are high or selling too early. It takes time to understand things like charts, market trends, and different coins. Many people lose money when they start because they don’t have a proper plan. So, while trading crypto can be exciting, it’s better to start slow and learn step by step. Practice and patience make it easier as you go.
The best crypto to buy right now depends on what’s happening in the market and your goals. Bitcoin and Ethereum are usually safe choices because they are the biggest and most trusted.
Bitcoin is like digital gold, while Ethereum is used for many apps and games. Some smaller coins like Solana, Cardano, or Polkadot are also popular because they have the best technologies behind them.
Starting with cryptocurrency trading is pretty easy if you follow the steps. First, you need to choose a reliable crypto exchange like Binance, Coinbase, or OKX. Then, sign up and verify your account with an ID. Once that’s done, add some money using a bank transfer, credit card, or another payment method.
Before you buy anything, learn the basics about how crypto works and check which coins are trending. You can start by investing a small amount, like $50 or $100, to get the hang of it. Use beginner-friendly tools like demo accounts if available.
Crypto pump and dump schemes are scams where groups trick people into buying a coin to drive up its price. It starts when a group promotes a small, cheap coin, claiming it will skyrocket. When people rush to buy it, the price rises, but only because of the hype, not real value.
Once the price is high, the group behind the scheme sells all their coins for profit, and the price crashes. People who bought late often lose all their money. These schemes are illegal in most places but still happen in crypto because it’s less regulated.
Amit Chahar
With a background in Computer Science, Amit Chahar is a passionate crypto writer, specializing in Crypto and Blockchain Technology. With over 5 years of experience in the crypto and Web3 space, Amit has authored more than 1,000 articles, making him a prolific and knowledgeable writer in the field. His dedication extends beyond writing, as he is also the founder of two crypto websites: walletreviewer.com and reviewexchanges.com. Beyond crypto trading and investing, he is also a stock investor and enjoy playing cricket in his free time.
Disclaimer
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry. Opinions expressed on NFTevening are not investment advice. Before making any high-risk investments in cryptocurrency or digital assets, investors should conduct thorough research. Please be aware that any transfers and transactions are done at your own risk, and any losses incurred are entirely your responsibility. NFTevening does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, please note that NFTevening participates in affiliate marketing.
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How to Trade Cryptocurrency? The Beginner’s Guide 2025 – NFTevening
