Sunday, August 14, 2022
Sunday, August 14, 2022
Home cryptocurrencies WhiteBIT Cryptocurrency Exchange Answers 3 Main Questions About Investing in Crypto

WhiteBIT Cryptocurrency Exchange Answers 3 Main Questions About Investing in Crypto

by James Musoba
0 comment

There are about 2 million bitcoins left, Solana rose from $1 to $194 in a year, Ethereum, DOGE, and many other cryptocurrencies are currently hyping. But are they worth it? We’ll try to provide answers so that you can decide and maybe find your own way to buy cryptocurrency.

How to predict currency growth or fall?

There are trading sessions every day. During each trading session, traders’ requests to sell or buy are formed into candles. The easiest way to understand where the value of an asset will move is by undertaking the technical analysis of these candles. On the chart, they are displayed in green (asset value increased) or red (asset value decreased) color:

To understand the short-term plans of traders, trading sessions can be set from one hour to a week. You can also set another timeframe under the trading chart, which will show how these sessions were formed from an hour to three months.

Eventually, the candles are formed into shapes. An example of it is a candle hammer. This is a group of green orders with a long line at the bottom or top. If the line is at the bottom -, it means that the opening price had been low, but the buyers raised it. The line at the top means that the prices were falling, but a reversal of growth is expected.

Can I withdraw crypto and how much does it cost?

Yes. You can even do it for free. The WhiteBIT cryptocurrency exchange has recently established a partnership with monobank, so if you  are ukrainian and use this bank, the fee for depositing and withdrawing hryvnia is 0%.

Another way to do it is through a number of online payment systems. The fees on WhiteBIT are the following:

  1. Visa/Mastercard (Obmenka.ua) ‒ 0.7%;
  2. Visa/Mastercard (Interkassa) ‒ 2.7%;
  3. AdvCash ‒ 1.5%;
  4. Account GeoPay – 5 UAH + 0.8%;
  5. Visa/Mastercard GeoPay – 5 UAH + 0.8%.

How can I invest in Bitcoin or altcoins?

There are 4 ways:

  • buy an asset and hold it until its price grows. It can be stored on a cold/hot crypto wallet or on a centralized exchange (CEX). From the security point of view, CEX is a reliable option, as it also keeps users’ money on a cold wallet.
  • buy and deposit. This service is already provided by some platforms. For example. WhiteBIT provides a great tool for it called SMART-staking. You can keep Bitcoin and Ethereum at a 28% interest rate per annum and USDT at a 30% interest rate per annum. In total, there are more than 100 of such plans on the platform, including the popular EOS, Stellar, Litecoin, Ripple, Tron, etc.;
  • Buy and sell on the fall or rise in order to make a profit;
  • To do this, either buy equipment and work independently or join the mining pool.

Last but not least, cryptocurrency trading may be risky even for traders with good knowledge and experience.

You may also like

%d bloggers like this: