Compare cryptocurrency trading venues
Are you interested in buying and selling cryptocurrency? We help you find the cryptocurrency trading platform that suits your needs. Do you want to trade on a secure Norwegian platform or do you want to trade on one of the larger international crypto exchanges? Do you want a simple place to trade or do you want advanced trading? Compare the various crypto exchanges to find the trading platform that suits you best.
- Bäst i Sverige på kryptovaluta
- Bra för både nybörjare och avanserade traders
- Låga avgifter och hög säkerhet
Remember that buying and selling cryptocurrency involves high risk, and that historical returns are no guarantee of future returns.
Trading bitcoin or altcoin
Here you will find the leading trading places to buy cryptocurrency and virtual currency so you can easily get started with cryptocurrency trading. Compare the crypto exchanges and find the marketplace that best suits you and your needs. We also explain how cryptocurrencies work and what is important to think about when investing in them.
Remember that most marketplaces work a little differently and that they have different offers of which currencies you can trade. Some have fixed prices, some have prices built into the course and some have a better selection than others. We help you find the right one in the crypto jungle.
Which cryptocurrency should I trade?
There is no conclusion on which cryptocurrency you should trade. Today, there are a total of over 9,000 different cryptocurrencies on the market. The 25 largest currencies account for over 95% of the market value of all cryptocurrencies. The crypto market normally has high volatility, both on large and small currencies. The larger currencies are more liquid and have higher turnover, which makes it easier to find buyers and sellers at any time. For you as a trader, this means that you can buy and sell at the market price almost all the time.
How do I trade cryptocurrency?
Here we explain how it works in 6 simple steps.
1. Create a brokerage account for cryptocurrency.
Before you can learn to trade cryptocurrency, you must create an account with a crypto brokerage house at for example Coinbase, which is one of the best on the market. If you like trading, Plus500 can be a good alternative.
To create an account, you must provide your crypto broker with personal identification information, in the same way as opening an account with a stockbroker or bank. Some common information you will need to provide when setting up your account includes social security number, address, date of birth, phone number and email address.
2. Deposit money into your account.
Once you’ve registered with a crypto brokerage, you need to link your bank account. Crypto brokers normally offer many different payment methods to deposit and withdraw money into your crypto account. Most offer debit and credit cards such as Visa, MasterCard, Visa Electron and Maestro and in principle all accept bank transfer or bank transfer via Trustly. Other common payment methods are PayPal, Neteller, Skrill, Rapid Transfer, Klarna, Sofort Banking
3. Choose a crypto to invest in.
Have an idea of which cryptocurrencies to invest in. Do you want the leading cryptocurrencies or a portfolio that also contains smaller altcoins? Most active cryptocurrency traders allocate most of their capital to Bitcoin and Ethereum. These cryptos represent by far the largest market value of cryptocurrency and these are traded significantly more than the smaller currencies. But with high volume it is easier to buy and sell both smaller and larger amounts. The movements in Bitcoin and Ethereum also affect the rest of the crypto market. ed and may move more predictably than smaller altcoins, so trading with technical indicators may be easier.
Many crypto traders want to allocate a portion of their capital to smaller altcoins. Although small-cap cryptocurrencies are riskier than large-cap cryptocurrencies, they can offer higher upside potential. Remember that with higher risk comes higher volatility. Many of the smaller cryptocurrencies are connected but higher risk than the larger cryptocurrencies. This means that they often move up and down more quickly than the major currencies. This means that you can both win and lose money more quickly with the small cryptocurrencies.
4. Choose a strategy.
There are many different strategies for trading cryptocurrency. There are a multitude of trading indicators to choose from, and most traders take several factors into consideration when buying and selling cryptocurrency. If you are new to investing, you may want to consider purchasing a cryptocurrency or stock trading course to gain a better understanding of how financial logic works.
Many people also buy for the long term. as they think they have faith in the concept of cryptocurrency. With such a simple theory that if cryptocurrencies are the future, their value will be higher than today. It is important to point out that today we do not know what role cryptocurrency will have in the future.
If you are unsure about a strategy, you can choose Copy Trading
With the popular platform eToro allows you to copy the trades of any other trader on their platform. If you want to make the same trades as the most famous traders or your friends you can do it.
Cryptocurrency and Technical Analysis
One dilemma with cryptocurrency is that there is no sure way to calculate how big the total value of a cryptocurrency should be. With a share, you can make an analysis based on a company’s income and profits in the future or calculate how much value a company owns, then you can arrive at a reasonable assessment of the company. With cryptocurrency you cannot do any such analysis.
Because of this dilemma, there are therefore many people who trade cryptocurrency with various forms of Technical Analysis. Then you have a logic to act on. Without a technical analysis, you have no logic to act on, then it’s just gut feeling. With technical analysis you get buy and sell signals.
There are many different variables and methods that can be used for technical analysis such as On Balance Volume, Candlesticks, RSI (Relative Strength Index), Slow & Fast Stochastics, MACD as well as more comprehensive and advanced theories such as Elliot Wave Theory, Kondratev Wave Theory and Fibonacci numbers. We recommend that you find a method that suits you.
Read about how to trade cryptocurrency in Sweden at Cryptomarket365 or get more info on how to trade cryptocurrency in Norway at CryptoRunner.
5. Consider using social trading or copy trading.
When searching for a crypto trading strategy, you can copy famous investors and other investors who have a track record of doing well with their investments. It was eToro that was the pioneer with such social and copy trading. This way, you don’t have to do so much yourself. With copytrading, your portfolio both buys and sells in the same way as the one you copytrade. If you are going to use copytrading, perhaps the most important thing is that the person you are copying has a strategy and logic that you like.
You can also consider actively trading cryptocurrency on some platforms while using automated trading on others.< /p>
6. Store your cryptocurrency.
If you actively trade your cryptocurrency, you must store your money on the exchange to access it. If you are buying your cryptocurrency to hold in the medium to long term, you should get a cryptocurrency wallet.
Cryptowallets come as software wallets or hardware wallets. Both are secure, but hardware wallets offer the best security, as they store your cryptocurrency on a physical device, offline. If you have your cryptocurrency on a hardware wallet, you can take it offline. This means that no one can hack your crypto wallet, because it is not online. Hardware wallets offer the best security for storing cryptocurrency. It can be recommended for both small and large amounts of crypto.
Ledger is a great hardware wallet token that many investors rely on to store crypto assets. If you are looking for a software wallet, there are several options on iOS, Google Chrome and Android that are free to use.
One of the best software wallets available for cryptocurrency traders is ZenGo. The mobile wallet uses secure 3-factor authentication to protect your digital assets and offers comparable security to other wallets on the market. In addition, ZenGo allows you to buy, sell and earn interest on digital assets directly from your wallet.
Cryptocurrency Trading Places
There are many good ones places and trade cryptocurrency on. Several large, secure and international companies such as eToro, Coinbase, Kraken and Binance. There are also many who trade CFDs with crypto, such as on the trading platform Plus500. If you want advanced trading with derivative trading, futures and opportunities for high leverage, we recommend BitMEX. The largest Norwegian-owned crypto exchanges are Firi, Kaupang Krypto and Norwegian Block Exchange NBX.
What is cryptocurrency?
A cryptocurrency is a digital currency that acts as a medium of exchange on a computer network and does not rely on a central authority (such as a government or bank) to maintain or maintain it. It is a decentralized system for verifying that the parties to a transaction have the funds they claim to have, eliminating the need for traditional intermediaries such as banks when transferring funds between two entities.
Cryptocurrency is virtual currency or digital moneylaid by computer code that is controlled outside the traditional banking system. Trading in crypto currency is done with encrypted transactions via a decentralized system called blockchain technology. Verification of ownership of cryptocurrency and verification of transactions is based on cryptography.
A cryptocurrency consists of tokens and a protocol (blockchain technology). Tokens are the unit of currency and value you can store, send or sell. Tokens are stored in digital wallets that have a public wallet address. In order to be able to trade cryptocurrency, you therefore need a wallet for cryptocurrency. When you become a customer on a marketplace, the marketplace provides you with a wallet so that you can start trading.
How Cryptocurrencies Work
Although there are many different types of cryptocurrencies, they all have one thing in common: they operate on blockchain technology, which makes them decentralized. Decentralization of financial operations through cryptocurrencies has several efficiency gains compared to the traditional financial system.
The advantages of cryptocurrency are:
- Cryptocurrency cuts out almost all fixed costs associated with banks
- Transactions become cheaper and can be sent and received internationally
- Inflation or limited supply written into code – no need to trust the Federal Reserve</li >
- Financial derivatives such as trading strategies and loans can be encoded directly on certain cryptocurrency blockchains, replacing the need for financial intermediaries.
The largest cryptocurrency is Bitcoin, and it is used as a “digital gold” . Essentially, Bitcoin is a commodity used as a store of value. Ethereum is the second largest cryptocurrency. Developers can develop smart contracts on Ethereum’s blockchain to create decentralized alternatives to traditional banking functions, such as lending and trading.
- Dilution of cryptocurrencies. Most cryptocurrencies are mined or printed in multiple coins. When the number of coins increases, the value of the coins decreases. Exactly how it works on the stock exchange. It can be difficult to have an overview of new mining/printing of specific cryptocurrencies. If you own a Cryptocurrency, the value may decrease because too many new coins are printed. Dilution is a concept that beginners have difficulty understanding.
- There is no way to calculate the value of a cryptocurrency through fundamental analysis. The value lies only in the fact that people want to trade and own them, nothing else. But that value can for all intents and purposes be high, but is impossible to calculate.
What are the most popular cryptocurrencies?
There are many popular cryptocurrencies. Here are some of the biggest and most popular cryptocurrencies: Bitcoin, Ethereum, Tether, USD Coin, XRP</a >, Binance Coin BNB, Cardano, Solana</strong >, Dogecoin, Litecoin, Polygon , Polkadot, Tron TRX and Shiba Inu. Bitcoin has a market cap of just over $370 billion and Ethereum (ETH) just over $150 billion (Sept 2022). Note that the market value goes up and down all the time and will vary constantly.
What are Altcoins?
Tokens, cryptocurrencies and digital assets other than Bitcoin are called Altcoins. They are known as alternative cryptocurrencies, typically abbreviated to “altcoins” or “alt coins”, or pejoratively “shitcoins”. Paul Vigna of The Wall Street Journal also described altcoins as “alternative versions of Bitcoin” given its role as the model protocol for altcoin designers.
Altcoins often have underlying differences compared to Bitcoin. For example, Litecoin aims to process a block every 2.5 minutes, rather than Bitcoin’s 10 minutes, allowing Litecoin to confirm transactions faster than Bitcoin. Another example is Ethereum, which has smart contract functionality that allows decentralized applications to run on the blockchain. Ethereum was the most used blockchain in 2020, according to Bloomberg News. In 2016, it had the largest “following” of any altcoin, according to the New York Times.
Significant rallies across altcoin markets are often referred to as an “altseason”.
The protocol (blockchain technology) is a distributed ledger that maintains the balance for all token trading. Every transaction made is stored on thousands of computers worldwide. The network records each and every transaction on the ledgers and then shares them with all the other ledgers on the network. When the entire network agrees that the information has been registered correctly, the transaction becomes permanent. This system is decentralized and all trading on, for example, Bitcoin is stored in the ledgers so that you can go back in history to see who traded with whom in the past. So it is not impossible to find out who has bought and sold cryptocurrency in the past as many people think.
Bitcoin and cryptocurrency can be used as a medium of exchange and payment if both parties want it. A cryptocurrency does not depend on a centralized banking system. As each node on the network is owned by a private entity, the entire network is collectively responsible for maintaining the accuracy of the ledger. When you send cryptocurrency to another person, the transaction is approved by the entire network. The transaction is therefore approved collectively by everyone in the network and not centrally, as is done in a traditional bank, which is why this system manages without central management. Because there is also no central actor who approves the transactions, users do not need to identify themselves when sending bitcoin or other cryptocurrency. The protocol checks that the user has enough virtual currency and sends and sends it to another desired wallet.
The networks are transparent and the status of the transactions is therefore available to everyone. The trade in cryptocurrency cannot be reversed or manipulated by hackerse. What can be hacked is the wallet, therefore you must be careful with your private keys to your own wallet.
Is it safe to buy cryptocurrency?
There are many cryptocurrencies, a total of around 10,000 different currencies exist on the market today. Many people wonder how safe it is to buy cryptocurrency. To understand security, it is important to understand how it works.
One can discuss security on 2 levels
- How secure is a blockchain?
- How secure is your wallet?
How secure is your wallet?
You can store your cryptocurrency in many ways. Today, most wallets are very secure. It is important to understand here that if you store your cryptocurrency on a wallet that you can disconnect from the internet, it cannot be hacked. Such a wallet is 100% hack-free. But if you disconnect it from the network, you must keep track of your wallet. You need to know where it is located and you need to know how to access it to get your own cryptocurrency. Hypothetically, you might mess it up or someone might steal it. Find out which solution is best for you.
How secure are the different blockchains?
How secure the blockchain itself is depends on the system it is built around. As a user, you really have no control over this factor. Today there are in principle 2 different types of blockchains, Proof-of-Work and Proof-of-Stake. Proof-of-Stake was the first type on the market. Bitcoin uses Proof-of-Work. Perhaps the biggest advantage is that it is very secure, while the disadvantage is that it uses a lot of energy. Proof-of-Stake is much more flexible because it can use Smart Contracts, DeFi, it needs much less energy, it can do many more transactions per second and so on. But even if Proof-of-Work is also very secure, it is not as proven as Proof-of-Work. We go through the terms in a little more detail here below.
What is Proof of Work?
Proof of work (PoW) is a system that requires a non-negligible but feasible amount of effort to deter frivolous or malicious use of computing power, such as sending spam email or starting a DoS (SDenial of Service Attack). The concept was adapted to secure digital money (cryptocurrency) by Hal Finney in 2004 through the idea of “reusable Proof of Work” using the SHA-256 hashing algorithm.
Bitcoin became the first application to use Finney’s PoW idea. Proof of Work is the basis for Bitcoin and several other cryptocurrencies since it manages to provide a secure and decentralized consensus.
Proof of work (PoW) is a decentralized consensus mechanism that requires members of a network to spend effort solving an arbitrary mathematical puzzle to prevent someone from exploit the system.
Thanks to PoW, Bitcoin and other cryptocurrency transactions can be carried out in a Peer to Peer secure manner without the need for a third party such as a financial institution.
Requires a lot of energy</h4 >
Proof of Work on a large scale requires huge amounts of energy, which only increases as more miners join the network. This is a dilemma for cryptocurrencies that use PoW. There is a large shortage of electricity and gas in parts of the world and in a world with greater environmental thinking, this is something that discourages the use of less energy.
Proof of Stake (POS) is one of several new alternative systems to Proof of Work.
Thanks to the Proof of Work product, the blockchain works
How does Proof of Is it safe to trade cryptocurrency
Bitcoin and other cryptocurrencies work thanks to blockchain technology. Proof of Work is the leading method of ensuring that the blockchain works and prevents people from tampering with it. To prevent tampering, the ledger is public or distributed. A change in this will be immediately rejected by other users.
The way users can detect tampering in the blockchain is through a Hash function. A Hash is a mathematical function that meets the encrypted requirements needed to solve a blockchain calculation.</p >
Hash has a fixed length, which is almost impossible to guess. Therefore, it is very difficult to crack the blockchain, which makes the system secure.
How Proof of Stake works
Proof-of-Stake is an alternative consensus mechanism for a blockchain to Proof of Work. Proof-of-Stake or PoS reduces the amount of computational work needed to verify blocks and transactions compared to Proof-of-Work.
This model is significantly less energy-intensive than Proof-of-Work. In addition to being less energy-intensive, Proof of Stake is cheaper and much faster than Proof of Work. Many more transactions per second can be made at a reasonable cost in Proof of Stake. The advantage of staking is that anyone can participate in staking, the only thing you need to stake is coins. To mine coins in PoW, you need expensive hardware. PoS is more accessible to everyone.
One of the disadvantages of PoS is that the more coins you own, the greater your chance of becoming a validator. This means that those with the most coins or tokens gain greater control of the network. Those with the most money can therefore control a larger part of the network. The reward for staking is relatively lower than mining rewards.
Most newer cryptocurrencies run on PoS such as Ethereum, Solana, Cardano and Polkadot.
How can I use my cryptocurrency?
You can pay, exchange or speculate in cryptocurrency just as you can with physical currencies such as Norwegian kroner or US dollars.
Frequently asked questions and answers about Cryptocurrency
What are smart contracts?
Developers can develop smart contracts on Ethereum’s blockchain to create decentralized alternatives to traditional banking functions, such as lending and trading.
How to make passive money with cryptocurrency?
How to lend money and earn from cryptocurrency?
What is mining?
Where is crypto illegal?