What is Crypto? This is an Explanation and Tips for Safe Trading in 2022

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XWork – What is crypto you may have often heard in the last few years due to the rapid development of technology. As a result, investing with coins Kripto being loved by the public lately.

The trend of investing with cryptocurrencies makes cryptocurrency created as a medium of exchange. Then when making transactions, there is a kripto exchange or a digital marketplace that is used to buy and sell kripto assets.

What exactly is crypto? To better understand it, this Business News will discuss the types of Kripto and trading tips using virtual currencies to be safe and not lose.

Know What is Crypto

Linguistically ,cryptocurrency consists of a combination of two words, namely cryptography which means secret code and currency which means currency.

Ismail in the book Stocks vs Crypto mentions that cryptocurrencies arevirtual currencyor digitally secured by cryptography, thus making it nearly impossible to counterfeit or duplicate the decentralized blockchain technology.

Thus, cryptocurrency can be understood as a digital currency that can be used for virtual or internet-based transactions that are protected by secret passwords that are complex enough to ensure their confidentiality.

This type of money is not issued by a central authority so it is theoretically immune to government interference. Quoted from the Pintu investment page , kripto assets can be sent and used without the need for a central authority such as a bank or other financial institution. Therefore, kripto gives you the freedom to store, send and receive your own assets.

Types of Cryptocurrencies

There are various types of kriptocurrencies. Still quoting from the book Shares vs Kripto by Ismail, the first blockchain -based kriptocurrency , namely Bitcoin, is the most popular and valuable to date.
Meanwhile, currently there are thousands of alternative kripto currencies with various functions and specifications. Several competing kriptocurrencies that were born out of the success of Bitcoin, are known as “altcoins”. In addition there are also Litecoin, Peercoin, Namecoin, Ethereum, Cardano, and EOS.

Safe Crypto Trading Tips

Even if you are a beginner in the world of trading, you can still trade kripto and earn big profits. There are five safe daily kripto trading tips that you need to consider.

  1. Be selective in choosing an online broker by looking for trusted, official sites, and doing research to avoid fraud.
  2. Have a demo account to get used to and have experience whether the platform is working properly or not to know the real risks.
  3. Choose to trade at a broker that allows a minimum deposit. For starters, the exchange allows a minimum deposit of $5-$10 and the amount per transaction is only $1.
  4. Choose assets that are traded in the form of stocks, indices, forex, commodities and Kriptocurrencies.
  5. Choose the right date and time for expiration starting from short term in seconds and minutes, normal in hours, and long term in days.

However, in Indonesia, kripto is monitored by the Commodity Futures Trading Regulatory Agency (CoFTRA). There are several companies as trading platforms that have a license.
Quoted from the book Kripto Science by Belvin Tannadi , the platform companies include PT Kripto Indonesia Berkat, PT Upbir Exchange Indonesia, PT Tiga Inti Utama, PT Pintu Kemana Saja, PT Indodax Nasional Indonesia, PT Accountku Detcom Indonesia, PT Triniti Investama Berkat, and PT Plutonext Digital Asset.

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