What Is Cryptocurrency? Here’s What Investors Should Know Before Investing on WhiteBIT


The number of people engaged in trading cryptocurrencies is growing exponentially. There are more and more possibilities to buy digital assets and make a profit from them. The most appealing way to start off in crypto is to sign up on a centralized crypto exchange that would provide a safe and clear landscape for conducting operations with digital currencies. In this article, we will talk about digital currencies and ways of effective work with them. Moreover, let’s discuss creating an account on one of the biggest crypto exchanges in Europe.

First, cryptocurrency is money that is created and operated virtually, on a blockchain. Digital currencies are not issued by governments or banks but can be created by anyone with the help of blockchain technologies.

WhiteBIT is a centralized European crypto exchange originating from Kharkiv, Ukraine. The platform conforms to all KYC and AML requirements, conducts regular audits, and upgrades the cybersecurity mechanisms, which allows it to be a permanent leader in the global ranking.

WhiteBIT is a perfect place for buying, selling, exchanging, and holding digital currencies at fair and profitable terms. At the same time, the crypto exchange also provides the possibility to carry out operations with fiat currencies, such as EUR, UAH, USD, etc., using multiple merchants. This option is available to verified users. Passing KYC is not obligatory, but preferable, because it opens up a large scope of operations with crypto as well as with national currencies. Here’s what one should do before diving into the world of digital trading.

Conduct your research

The first step in the crypto field begins not with buying Bitcoin, but rather with addressing the questions of how cryptos operate, what kinds of assets there are, etc. Buying Bitcoin or Ethereum is not the only way to gain crypto profits. There are tons of other digital currencies, that are worth considering. Anyway, the knowledge of the history of the legendary cryptos is a great plus for anyone who wants to understand the principle of crypto operation. With all the knowledge and understanding, you will be able to consider ways of cryptocurrency investments, creating your own trading strategies, etc.

Never act based on FOMO

FOMO (an acronym for Fear Of Missing Out) is a fear to miss opportunities to gain profits. In the world of cryptos, it can be applied to the fear of not buying and selling an asset in times when everyone else is doing it. This factor is spread among crypto beginners and even professionals. On the one hand, being aware of everything that is going on in the sphere is very helpful. On the other hand, some major crypto players can use the FOMO factor to cause irrational buying or selling of specific assets. Hence, go back to the first advice and conduct your own research before basing your strategy on the news

Take care of your safety

Pay special attention to the protection of your account and the keys to your wallet. If you use the service of a centralized exchange, make sure to protect your account with all possible means recommended by the exchange, including Two-factor authentication, identity verification, and strong passwords. KYC, in fact, can help you restore access to the exchange account in case you lose the login data. Another thing is the private and public keys to your crypto wallet. Never share the private key with third parties, as it would endanger the safety of your funds.

Investing opportunities on WhiteBIT

The WhiteBIT cryptocurrency exchange offers spot, margin, and futures trading of more than 450 pairs with cryptocurrency and over 30 pairs with national currencies. Another way of receiving income on WhiteBIT is SMART Staking, a unique tool for getting passive income from holding crypto. Users can choose a plan with a desirable asset, choose a holding period (10, 90, or 360 days), and deposit the funds to the plan. As soon as the SMART Staking plan closes, the user will receive the deposited amount back with a guaranteed percentage. The profits can reach up to 30%.

Buying cryptocurrency is simple if you choose a reliable platform. WhiteBIT is an ideal space for those who want to try their hand at trading and holding, as well as for those who can boast extensive knowledge of the field.

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of CryptoTotem, nor is it intended to be used as legal, tax, investment, or financial advice. The author or the publication does not hold any responsibility, directly, or indirectly, for any damage or loss caused or alleged to be caused by or connected with the use of or reliance on any content, goods or services mentioned in this article. Readers should conduct their own research before taking any actions related to this company.

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