Since its advent, digital technology has been knocking on the doors of several sectors, inviting them to thrive by adopting cutting-edge technology. One such developing sector is the cryptocurrency and blockchain sector. As the first digital gold, Bitcoin started gaining fame after its launch in 2009, and then several altcoins emerged. Like how people invested in stocks and equities, many have deeply dived into the crypto market, earning huge profits. This brief piece of content is prepared to guide you on how to shift from equities to digital assets like crypto, steps to follow, and top platforms that help you with this.
Before you shift from equities to crypto…
Learn about the crypto ecosystem
Prepare yourself to dive into cryptocurrencies. Like how you dip your toes into buying stock shares, learn and understand about major cryptocurrencies that perform well in the market. Most importantly, knowing the underlying blockchain technology is crucial! Keep in mind that crypto is more volatile, so play accordingly.
Choose a crypto trading platform
Reputable trading platforms can offer trusted and secure services. Trading fees, user experience, and security features are key areas you need to learn when trading on a platform.
Test the waters to avoid drowning
Little steps make big impacts. Start trading, but not with a huge amount. Spend a tiny portion of your money to buy a reliable cryptocurrency. Also, experiment with different trading platforms.
The more you are aware of regulations, the safer you are
Where you trade from is important. Understand the crypto regulatory frameworks of the country you are in.
Join communities
When you interact with crypto investors and experts, you gain more useful knowledge on how to trade and what coins to look for, reducing the risk of falling into fake crypto projects.
Key benefits you should not miss
Decentralization
Take control over your assets without the need for a middleman. The decentralized nature of blockchain removes any banks or institutions from acting between crypto traders.
Potential for higher gains
Cryptocurrencies can bring explosive gains, particularly when the market is up due to positive macroeconomic factors and more investors eye on crypto rather than stocks.
Trading without the closing bell
24/7 trading is one beautiful feature of crypto trading platforms that allows investors to buy and sell crypto at any time.
Get crypto, unlock new products
When you invest in products, you are getting access to financial products like staking, NFTs, DeFi, yield farming, and more.
Top trading platforms offering equities and crypto
Robinhood
A multi-asset trading platform that offers crypto and stocks. It provides major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), XRP, Cardano (ADA), and more.
eToro
eToro offers a wide range of cryptocurrencies. It also provides equities with commission-free stock and ETF trading.
Interactive Brokers
With wide access to equities and ETFs, Interactive Brokers supports Bitcoin, Ethereum, Avalanche, Bitcoin Cash, etc.
Fidelity
A leading finance firm that offers investment in crypto and stocks. Through the firm’s crypto trading platform, Fidelity Crypto, you can trade BTC, ETH, and Litecoin (LTC).
Equity trading is good, and Crypto trading is not an exception. The former is anchored in the traditional way of trading, and the latter leverages blockchain technology, just two types of financial assets for trading, but with a different approach. All you need is to put your energy into understanding what each of the assets is and how to put your money into it. But wait, make sure you have a minimum amount of money in your physical wallet before creating a digital wallet!
