Where and when to sell cryptocurrencies?



29 listopada 2021
Where and when to sell cryptocurrencies?

Where and when to sell cryptocurrencies?

In recent years, cryptocurrencies are definitely gaining popularity and there is no indication that this trend is going to change. The increased interest in these virtual means of payment is due, among other things, to the low entry threshold - any person in the world can invest in them and earn on them, you just need a little knowledge about them, as well as some own contribution, and you can start your adventure on exchanges.

The key element of cryptocurrencies is of course trading them. Single virtual coins of such units as Bitcoin or Ethereum in terms of dollars are worth a lot, but this is not a permanent state. Cryptocurrency prices change very dynamically, which depends on many different factors.

For people who are just getting into this topic, there are still a lot of unknowns, which is why it is very common to encounter questions like "where to sell cryptocurrencies", "when to sell cryptocurrencies", etc. Therefore, we decided to make their lives a little easier and prepared the following article, in which we have included the most important information about selling cryptocurrencies and more. We invite you to read it.

Cryptocurrencies - what are they?

Cryptocurrencies are cryptocurrencies or digital/virtual currencies. Their operation is based on the technique of data encryption, or cryptography (hence their name). This technique is used for two main purposes - to verify transactions in the cryptocurrency network, and to create new units, which are called coins (coin, altcoin).

By design, cryptocurrencies are meant to be a decentralized alternative to traditional means of payment. Control over virtual currencies is to be exercised by all their holders, which is clear from the way they work, they are also to work independently of banks and national governments, so no one will be able to impose their value, price and take them over.

Types of cryptocurrencies

There are many types of cryptocurrencies on the market today, with the oldest and most popular still being the world's first such currency, Bitcoin, created in 2009. Apart from that, there are many more alternative currencies, such as Litecoin, Ethereum, Ripple and many, many more. Each of the alternative currencies is different from the others. These differences can really range from minor ones, such as the programming language it uses, to the distributed ledger technology, to the encryption algorithm.

Where to sell cryptocurrencies?

It is possible to sell cryptocurrencies in several ways. Some are more difficult, some are simpler, and they also differ in their profitability - in some cases you'll get more for them and in some you'll get less. The most difficult and least recommended way to sell cryptocurrencies is to trade on your own, bypassing any intermediaries. In this situation, you can actually make a lot of money, but the risks and difficulty are huge. An easier way is to go to an exchange and trade there. This is safer, but still a risky and complicated process for some. The easiest option is to use the offer of a cryptocurrency exchange, such as ours, where you can change your virtual money into traditional means of payment without much hassle.

When to buy cryptocurrencies and when to sell them?

The answer to this question seems incredibly simple, but it is not so obvious. Many people might say that it's best to buy when it's cheapest and sell when it's most expensive, but when it comes to cryptocurrencies you need to develop a whole strategy. This is due to the fact that a drop in the price of a particular currency may be associated with a decreasing interest in it, and thus fewer traders, which will of course reflect very negatively on selling prices. In order to sell virtual coins with a planned profit, you also need to constantly monitor the current situation on the market and, most importantly, do not get carried away by emotions, because if this happens, it may turn out that you have lost quite a lot.

Attention! The above article neither in whole nor in part constitutes a "recommendation" within the meaning of the provisions of the Act of July 29, 2005 on trading in financial instruments or the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC and Commission Delegated Regulations (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65 / EU of the European Parliament and of the Council as regards organizational requirements and operating conditions for investment firms and defined terms for the purposes of this directive. The content contained on the website does not meet the requirements for recommendations within the meaning of the above-mentioned act, incl. do not contain a specific valuation of any financial instrument, do not rely on any valuation method, and do not identify investment risk.

We use cookies privacy