Ever since 2017, DAI has been adopted and widely used because of its non-volatile characteristic. The belief is that certain cryptocurrencies will gain enough traction to be globally adopted and used for trading, enhancing the global finance ecosystem. But how do you convert DAI to GBP stablecoin?

## DAI

DAI is a decentralized cryptocurrency, specifically, a stablecoin. 

Stablecoins are crypto versions of traditional currencies like the US dollar (USD) that solve the volatility query with many cryptocurrencies. DAI is pegged to USD and maintains a 1:1 ratio against USD.

DAI is built on the Ethereum blockchain-based application. You can receive, store, and or transfer it to anyone despite their location without the need for an intermediary. Unlike other cryptocurrencies, it does have a central authority controlling its supply in circulation.

To get value, DAI relies entirely on demand. When you deposit ETH or any alternative ERC-20 token into the market as collateral, DAI is created and provided to you at a collateral loan ratio of 66%. This criterion increases the overall supply and acts as a prime value source.

Use cases for DAI include a secure store for value, a stable payment method, and a reliable tool for minimizing risk among crypto traders. You can also get access to loans without the need for approval from creditors.

## GBP stablecoin

GBP is a stablecoin backed by the sterling pound with an alternative market name of "pound token". You can redeem GBP one-for-one with the sterling pound.

While the initial launch was [Ethereum](/coins/eth) blockchain-based, the developmental team, Blackfridge, has plans to bridge other networks. You can buy and or sell GBP on Gate.io, Bittrex, and Uniswap.

The key reason behind this project was to provide a seamless way to convert fiat GBP to cryptocurrency without delay. Other use cases are a rigid value store and smooth exchange for value. The pound token goal is to provide stability and boost the stablecoin market confidence through strict regulation and frequent comprehensive audits. It aims to be the benchmark for other stablecoins.

## Converting DAI to GBP

To convert DAI to GBP, you need a wallet for storing your crypto. If you are a beginner, I would recommend opening an account at [Binance](https://www.binance.com/en).

Navigate to the buy/sell crypto tab and click on buy. Once you click on "buy crypto", the available payment options in your country will pop up. Key in DAI, pick your preferred payment means and enter your credentials. Press enter to confirm your order. Go back to your wallet and check your balance. It should reflect the purchased amounts.

Now go to [Binance Convert](https://www.binance.com/en/convert), found at the top left corner under the "Trade" section. On the 'convert' page, select DAI, and the desired token, GBP. Preview the conversion rate through the convert button. 

You can refresh every five seconds to get a new rate, perhaps a better one. Click on convert and GBP will be available in your wallet in less than a second. Ensure you follow these instructions to get the best conversion rates for DAI to GBP.



Green image of pile of GBP coins with DAI crypto coin in centre of the pile

DAI to GBP Stablecoin Conversion

Over the last decade, the popularity of cryptocurrencies has grown. Increased interest in the nascent asset class has led to new exchanges popping up, making it easier to purchase crypto. But how do you buy crypto with Amex?

Payment options to purchase cryptocurrencies have expanded. Methods like bank transfers, cash, debit, and credit cards have grown in acceptance.

Despite this, major credit card issuers in the US, like TD Bank, Capital One, and PNC Bank, have blocked crypto transactions. They claim that they're risky assets for their customers. Other financial service providers, like American Express, have maintained support for buying crypto through their credit cards. This is not without caveats, however.

## The American Express Crypto Broker

American Express has maintained a cordial relationship with crypto. It allows customers to deposit money using their Amex card to fund their crypto account. This means that American Express provides the services of a broker that acts as a middleman, allowing you to execute trades while charging small fees.

It is simple to purchase cryptocurrencies on the market with credit cards that permit the transaction. According to a [LendEDU poll](https://lendedu.com/blog/bitcoin-and-credit-cards/), 18.15% of Bitcoin investors claim to have funded their accounts with credit cards.

However, you must find a third-party cryptocurrency exchange that accepts American Express if you want to purchase Bitcoin and other cryptocurrencies using it. First, open an account and then fund it with a credit card.

## What you must know before you buy crypto with Amex

### Brief History

The headquarters of American Express is located in New York City's Three World Financial Center. The company was established in 1850 in Buffalo, New York, as an express mail service. Later, it expanded its offerings to include credit cards, traveller's checks, and money orders. More than 130 countries are served by American Express.

American Express is governed by state banking regulations in the United States and has a license from the US Department of Treasury Financial Crimes Enforcement Network to operate as a money transmitter. American Express is also a Federal Deposit Insurance Corporation (FDIC) member.

### What to know

Credit card issuers are generally still wary of crypto. Hence, there are caveats surrounding Amex's facilitation of crypto purchases.

First, most exchanges limit large purchases of crypto assets when using a credit card. This is to protect users from possible fraud and not allow them to max out their credit cards by funding their account.

Amex limits users to $200 worth of Bitcoin daily and up to $1,000 per month.

Second, credit cards like Amex also offer an additional level of security that other modes of payment don't provide. 

Safeguards like [fraud protection](/news/article/crypto-scam) and the ability to call and reverse purchases help customers secure their funds.

Third, the cost of purchasing crypto with credit cards differs from exchange to exchange. You will pay a transaction fee of 3.5% of your purchase plus $0.15 when using 247Exchange. When you consider that Coinbase charges 3.99% and Coinmama comes in at almost 6%, this is one of the lesser fees. However, CEX.io only charges 0.2%, but using the exchange requires a time-consuming verification process.

American Express transaction fees might be as high as 4%. When you buy crypto with Amex, it may result in a higher fee because American Express charges merchants a larger fee than other payment processors.
An annual fee can be associated with your card, depending on which Amex card you choose. Amex can also charge you for currency conversion fees, returned payments, and late payments.

Furthermore, before deciding to buy crypto with Amex, potential customers should consider the speed, ease of use, and reputation of the intended exchanges.

## Where can you buy crypto with Amex?

All major exchanges accept credit cards as a payment method for crypto. Here are some exchanges to consider:

1.	Paxful: 
Paxful allows users to trade crypto directly with one another. It's an open marketplace where users can quickly buy the crypto of their choice with less hassle. Amex works [seamlessly](https://paxful.com/buy-bitcoin/american-express-card/?paymentMethod=american-express-card&countryIso=NG&hasScroll=true) on the platform.

2.	CEX.io: 
This crypto exchange is one of the pioneer exchanges in the market. It dates back to 2013, when it was established in London. It supports virtually all countries around the globe.
It's registered with [FinCEN](https://en.wikipedia.org/wiki/Financial_Crimes_Enforcement_Network) in the US. In the UK, it's listed as a Money Service Business. The exchange says it's never lost user funds.

3.	eToro: 
This company was established in 2008 as a social trading platform. It caters to CFDs, stocks, indices, currencies, commodities, and cryptos.

Amex is an accepted broker on the platform.

## How to buy crypto with Amex

1.	Choose your preferred exchange: 
The first step is to look for an exchange that allows you to buy crypto with American Express. Though Amex is not as widely accepted as Visa and MasterCard, all the exchanges listed above accept Amex.

Also, confirm the processing fees, trading fees, and withdrawal fees.

2.	Registration and KYC: 
Once you've been able to choose a preferred exchange, you have to set up your account.
Hit the sign-up button and provide any personal information required. Regulated platforms will ask for complete KYC, including a photo ID.

3.	Deposit funds: 
Once you're done with registration, select the "deposit funds" option. Enter your deposit amount, then choose "credit card" as your preferred payment method. Enter the Amex card details required to connect your card. Then make a deposit.

4.	Buy crypto: 
When your deposit reflects on the exchange, you can begin purchasing the crypto of your choice.

## Bottom Line

The pros of using the Amex credit card to buy crypto cannot be overstated. Users enjoy fast processing of their deposits and industry-standard fraud protection.

Though Amex is plagued by high transaction fees and a limited purchase size, its crypto-friendly stance has made it a more widely accepted method of payment on crypto exchanges.


blue image of american express credit card with pile of bitcoins

How to Buy Crypto with Amex 

Wondering how to find new NFT projects you can invest in?

Most popular NFT collections rely on hype, so getting in early is the only way to get the best deal. However, [investing early](/news/article/buy-nft-market) means that you are taking considerable risks. So, if the project goes bust, you will be left holding the bag.

Most NFT scams are usually quite elaborate and may be challenging to identify. Therefore, you should understand how to source for new projects and avoid scams.

If you invest right, you will get tremendous gains on your investment. This article will give you key points on how to find new NFT projects and avoid scams.

## How to find new NFT projects

In this section, we cover the best way to find new NFT projects from credible sources.

## Scout Twitter feeds

[Twitter](https://twitter.com/) is one of the best places to get information on all things crypto, NFTs included. When used right, you can get the inside line on emerging projects before they reach mass adoption. By the time of mass adoption, the token value will have doubled, and you've made your gains.

However, scouring Twitter can be challenging, especially if you are not an active platform user. Try to learn how to identify trends and crypto influencers.

First, find an NFT community. You can do this by following known crypto figures and established NFT brands. Within the community, you will get access to the latest news and announcements on established and up-and-coming NFT projects - some of which also host Twitter space and live Q&A sessions.

We recommend that you follow [@monineversleeps](https://twitter.com/monineversleeps) for reliable news and updates.

A word of caution: Just as you find great projects on Twitter, you can also stumble on scams masquerading as [free giveaways](/news/article/free-nft-giveaway-legit). Ensure you do your due diligence before investing in any new NFT project.

## Join Discord servers

[Discord servers](https://discord.com/servers) are like chat rooms for nerds. They are a great source of information and a great meeting place. If you want to connect directly with NFT community leaders and get updates on upcoming collections, you need to join the right communities.

Some NFT communities also invite you to provide discord servers when you invest in their collections. You can get the inside scope on upcoming NFT launches within these invite-only servers.

The best thing is that Twitter and Discord work well together when it comes to finding new NFT projects. Crypto influencers can direct you to great Discord communities based on their niches. In turn, you can find great Twitter profiles from the Discord channels.

A side note: Just as we warned about scams on Twitter, there are also scammers on Discord. Some of them create usernames that are identical to those of verified community members. So remember to verify twice before engaging in a conversation with another outside an authorized discord server.

## Surf OpenSea

[OpenSea](https://opensea.io/) is one of the biggest platforms for minting and selling non-fungible tokens. It provides a user-friendly platform for beginners and experts to create NFT within minutes. It even offers a mobile app to browse its hidden collection of NFTs on the go.

OpeanSea is the launchpad for many of the most significant NFT projects, including CryptoPunks, [Bored Ape Yacht](/news/article/bayc-derivatives-explored), and Doodles. So if you are seeking a platform to get NFTs before they hit their all-time high (ATH), consider getting an account on OpenSea.

Plus, you can access multiple NFTs from multiple blockchains. In addition, the platform allows you to bid for NFTs, track the price of each one and analyze the market trends.

## NFT news and resources

While social media and communities are great for finding new collections, you need expert insights to be well-rounded. This area is where news aggregators and blockchain learning resources become essential.

News aggregators will help you stay updated on the latest news and trends in the crypto space. These include news on up-and-coming projects, updates on existing projects, and analysis of some of the significant events happening in the crypto space.

[Blockchain learning resources](https://gist.github.com/65cdfe2f7fa1f84b4914f188d49d5323) might not directly help you find new projects. However, they provide background knowledge that helps you understand the tokenomics of new collections. That way, you can tell the good ones from the wrong investments. Many blockchains and wallets offer free academies and tutorials to brush up on your knowledge and insight into crypto.

## Do your own research (DYOR)

It is essential to filter NFT projects to get credible projects from the scam projects. Many NFT analytics tools can help you better evaluate the NFT and determine if it is a good project. Some of these tools are:

•	Upcoming NFT: This website tool shows you the presale, mint date, price, and community strength of NFTs. Focus on the closed or yet-to-be-announced collections to find great projects before they go live.

•	NFT Watcher: This is a great tool that notifies you of new drops. Check through the 'newly listed drops' section for rare gems.

•	Rarity Sniper: Rarity Sniper is an excellent tool for anyone who wants to get rare collections before they go mainstream.

•	NFT Calendar: This popular tool gives you timely information on NFTs in a simple interface. It shows real-time tracking of how many NFTs are minted by the day or on a blockchain.

•	Oxalis: This tool is like NFT Calendar but for gamers.

## Wrapping up

Finding NFT projects is like going on a treasure hunt. With the right tools and information, you can find a rare gem that will blow up your investment portfolio.


pink abstract image of person finding NFTs

How to Find New NFT Projects Early

Non-fungible tokens (NFTs) are probably the most popular use case for [blockchain technology](/news/article/blockchain-for-dummies). Some of them are worth tens of millions and have [received endorsements](/news/article/instagram-nft-minting-and-trading) from top celebrities and financial entities. They have also revolutionized how we view digital arts and physical assets. 

To help you get started, we created this guide on how to make NFT art.

## What is an NFT?

Non-fungible tokens (NFTs) are digital assets created and stored on a blockchain. They are unique cryptographic assets you cannot replace with another asset, hence the "non-fungible" description. Non-fungible tokens are created by minting them on a blockchain.

Unlike cryptocurrencies and fiat currencies, you cannot exchange one NFT for another. Each token has unique identification codes that help anyone to verify its uniqueness and originality on the blockchain. Even if you create a clone, anyone can tell the original from the clone by looking at the metadata.

Due to their non-fungibility, they are perfect for representing items from the physical universe, including physical artworks, videos, and real estate. However, you can also create them as standalone art. You can even create NFTs that do not represent any physical asset.

## How to make NFT Art

To create an NFT, you must sign up on a platform that supports NFT minting. This platform could be a crypto exchange or [NFT marketplace](/news/article/nft-art-marketplaces). You will need some cryptocurrency to verify the transaction and mint the token.

The amount and how you pay depends on how the blockchain you use charges a transaction fee for the minting process. For example, this fee is referred to as the gas fee on Ethereum and is paid with Ether (ETH).

Some of the popular NFT minting platforms are:

•	Binance (BNB Chain).

•	[Nifty Gateway.](/news/article/what-is-niftify)

•	Rarible

•	OpenSea

•	Proton Mint.

•	SolaNart

## How to make your first NFT Art

Ready to create your first NFT? Here is a step-by-step guide on how to create an NFT from scratch.

## Define your art

Figure out what you want to create. Most creators tie their NFT to a digital art piece like a short video clip, an image, or an audio file. You can even create an NFT out of a tweet. [Jack Dorsey made millions from selling an NFT made from his tweet.](https://www.cnbc.com/2021/03/22/jack-dorsey-sells-his-first-tweet-ever-as-an-nft-for-over-2point9-million.html)

The goal is to create something unique and original. So if you are basing your NFT on digital media, you must hold the right to that asset. Another alternative is to create them without an underlying basis for representation.

## Select a blockchain

NFTs are created and stored on blockchains. So, you must choose a blockchain to host your art. There are many blockchains options, each with its pros and cons.

The top choice for many digital creators is [Ethereum](/news/article/ethereum-prediction), and almost all marketplaces allow you to mint NFTs on the Ethereum blockchain. Other great options include [Solana](/news/article/solana-price-gbp), [Polygon](/news/article/matic-price-prediction), and Flow.

Each blockchain has its community and features, so you should research this. However, if you want to learn through the process, then Ethereum is where you should start.

## Set up a wallet

When you create a non-fungible token, it is stored on a blockchain address. You need a crypto wallet to access and interact with your NFTs. So, after you've chosen a blockchain, you need a wallet that supports your selected blockchain. 

Some wallets support more than one blockchain; some don't support more than one.

Therefore, you need to research your wallet choice and determine which blockchains it supports. MetaMask, Coinbase Wallet, and Ledger Nano X are the most popular options.

## Choose a platform

You need a minting platform to create your NFTs, and there are several platforms to choose from during your minting. For example, Rarible and OpenSea are two platforms that support minting on the Ethereum blockchain.

Ideally, you want a platform that allows easy minting at a reasonable cost and provides you with a place to list and sell NFTs. OpenSea and SolaNart are great choices to mint and quickly sell NFTs.

OpenSea is famous for its Ethereum-based NFTs, while SolaNart is a [Solana-based NFT platform](/news/article/solanart-nft-marketplace). You can also use crypto exchanges such as the Binance Exchange and Coinbase to mint and trade the tokens.

## Mint the NFT

Once you've chosen your blockchain, crypto wallet, and platform, the next step is to create your NFT. For illustration purposes, we will describe how to create an NFT on OpenSea. The processes for other platforms may be similar or different; however, the underlying principles apply.

•	Connect your wallet: Click the wallet icon from the OpenSea menu and select the wallet you wish to connect. This process will require you to make a verification on your wallet app.

•	Create your NFT: Select the "create" option on the Open Sea platform. This option will create a page for you to upload your NFT art and define its features and the blockchain you want to use.

•	Define your NFT: You need to give your NFT a name and description. You can add special features such as discount codes or private Discord channel invites. You can also expand your NFT to a collection or limit it to only one.

•	Pick your blockchain: The last step is to select the blockchain to store your NFT. Don't make a mistake here, as you cannot change this after you have minted the NFT.

•	Mint your token: Congratulations! Your digital asset is live. However, it still needs to be put up for sale. To do that, you need to select the sell button and indicate your sell price and how long you want to put it up for sale. Most platforms allow you to list your NFT for free or next to nothing, while others can charge a lot depending on the network fees at the time of listing.

Depending on the platform, it will cost you a small fee to sell an NFT. Some platforms, such as Binance, will take a percentage of the selling price to cover platform fees and other applicable fees. Other platforms like OpenSea, on the other hand, charge a flat price for each sale.

You can also choose to earn each time anyone sells your NFT and can earn up to 10% each time it is subsequently sold.

## Wrapping up

You now know how to make NFT art. Minting an NFT requires you to learn a few concepts, like using minting platforms and digital crypto wallets. Once you get a grip on these things, creating them becomes easy.


pink image of woman drawing nft on a tablet with bitcoins on the desk

How to Make NFT Art in 5 Steps

Bitcoin Cash is an electronic cash system that aims to become a reliable worldwide currency with rapid transactions, low costs, anonymity, and colossal processing capability. But where in the UK can you buy it?

[Bitcoin Cash](https://bitcoincash.org/) payments are delivered directly from one person to another in the same manner that real money is handed to the person being paid.

This coin is a fork of Bitcoin. The original and forked versions of Bitcoin were identical until the split occurred. From then on, the two networks operate separately.

## Buy Bitcoin Cash UK: Which major exchanges support BCH?

1.	Binance - In daily trading volume terms, the most significant exchange in the world
The [Binance account](https://www.binance.com/en-IN/how-to-buy/bitcoin-cash) serves as a conduit for purchasing cryptocurrency. However, before you can buy BCH, you must first register an account and authenticate your identity.

Then, it's time to select how you wish to purchase the BCH asset.

(a) Credit and debit cards
A simple way for beginners to buy Bitcoin Cash (BCH). Binance accepts Visa and MasterCard.

(b) Bank deposit
From your bank account, you can transfer fiat currency to [Binance](/news/article/guide-to-binance-uk). That can then be used to buy BCH. Consider purchasing a stablecoin like USDT or BUSD first and then using that coin to purchase BCH.

(c) P2P Trading
Use Binance's peer-to-peer service to purchase Bitcoin Cash (BCH) directly from other users.

(d) Payment via third party
There are several third-party payment mechanisms available. Some include Zen, Inswitch, Truelayer, Simplex, GEO Pay, Bifinity, ADVcash, and Bank Transfer (BBK).

2.	Uphold - A global, multi-asset digital trading platform
When you are ready to buy Bitcoin Cash UK-style, Uphold is a well-known United Kingdom exchange that offers more than 80 cryptocurrencies. Uphold takes compliance seriously and is registered with the Financial Conduct Authority (FCA) under the FCA's Temporary Registration Regime for crypto assets businesses.

Uphold offers a straightforward desktop trading platform and an innovative mobile trading application. The trading interface is adjustable with the assets you trade the most while having an effortless, contemporary appearance on both desktop and mobile. It is a popular and acceptable option, especially for beginner traders.

3.	Guarda - A multi-platform, non-custodial exchange
Guarda Wallet is a secure place to save your BCH. Guarda makes it simple to buy BCH and send it to anybody and anywhere with their address. It is the ultimate crypto management solution which now supports 50 blockchains and more than 10,000 coins.

At the same time, you can instantly receive Bitcoin Cash from anybody using a web browser, mobile phone, or desktop programme. It is a secure and straightforward method to obtain BCH immediately in your wallet with a debit/credit card or a SEPA transfer.

4.	Kraken - A global marketplace for digital assets
The simplest way to get BCH is through a digital asset exchange [like Kraken](/news/article/kraken-review).

## Buy Bitcoin Cash safely and simply by following these steps:

(a) Register for an account
Start choosing a username and password, enter your email address, and you're ready.

(b) Obtain verification
You can buy BCH and other cryptocurrencies using "Starter" authentication. Just provide your name, birth date, nationality, and phone number.

(c) Deposit cryptocurrency or cash into your account
To deposit cryptocurrency to Kraken, you must create a new address to receive funds from your crypto wallet. SWIFT, SEPA, and domestic wire transfers can be used to fund your trading account.

(d) Invest in BCH
You're ready to buy BCH after your account has been loaded with funds.

5.	eToro - Overall best Bitcoin Cash UK buying platform
The FCA has approved and regulated eToro. As a result, you can easily buy your favorite coins in the United Kingdom in a safe, secure, and regulated environment with [eToro](/news/article/etoro-fees).

To open an account with eToro, furnish the exchange with your personal information and pay a minimum deposit of $10 (about 8.18 Pound sterling). You may fund your account instantly with a UK debit/credit card or an e-wallet like Skrill or Paypal. The eToro platform also supports bank transfers from the United Kingdom.

6.	Coinbase: By trading volume, the largest crypto exchange in the US
Coinbase is the best place to buy this coin from the UK if you are a beginner. Coinbase can be accessed online or through the Android/iOS mobile app, providing a seamless user experience.

Once you register an account with Coinbase, you can buy Bitcoin Cash promptly using your UK debit or credit card. This is the simplest but most costly method, with Coinbase charging an all-in commission of 3.99%. To avoid expenses, try depositing funds using a free UK bank transfer.

## Buy Bitcoin Cash UK: Final thoughts

Maintain the security of your funds and transactions at all times. Always trade on reliable exchanges, read user ratings and comments, and double-check the addresses to which you're sending your coins.


Buy Bitcoin Cash UK: Where to Go

How does crypto trading work? Before we get on to the mechanics, let's ensure we understand what cryptocurrency is.

Cryptocurrency, or crypto, is any digital or virtual currency that uses cryptography to secure transactions. These are free of central issuing or regulating authority and rely on a decentralised system to record transactions.

Cryptocurrencies are slowly but steadily taking over the world, and the market has grown enormously in recent years. Since the launch and introduction of Bitcoin, its rapid growth, and its value surpassing that of gold, ensured a surge in consumer interest.

Cryptocurrency payments exist solely as digital records to an online database describing specific transactions rather than as physical money carried around and exchanged in the real world. 

Crypto makes use of encryption to verify transactions. Encryption aims to ensure security and safety. Transactions involving cryptocurrency funds are stored in a public ledger. Advanced coding is required to store and transmit cryptocurrency data between wallets and public ledgers.

## How does crypto trading work?

The act of speculating on digital coins' price and value fluctuations is known as crypto trading. One crypto trading method uses a digital wallet to buy and sell cryptocurrencies on an exchange, where current market rates determine their value. Similarly to the stock market, you can profit if you buy a cryptocurrency and sell it for a higher price than you paid.

Another popular method of crypto trading is CFDs (contracts for difference). It is a much more sophisticated trading strategy employed mainly by experienced investors. You do not own the underlying asset if you trade cryptos as CFDs. 

Instead, a contract is formed between the buyer and seller where they agree to exchange the difference in value between the contract's opening and closing dates.

## How to trade cryptocurrency?

As we continue to answer the question 'how does crypto trading work', let's take a look at the six steps to crypto trading.

### Step 1: Open an account with a crypto brokerage.

Leading crypto brokerages on the market include [eToro](/news/article/etoro-fees), Uphold, and [WeBull](https://www.webull.com/). All three options provide a simple user interface and a wide range of alternative coins.

To open an account, you must provide your crypto brokerage with personal identification information, just as you would with a stock brokerage. When creating an account, you must provide details such as your address, social security number, email address, and date of birth.

### Step 2: Add money to your account.

After registering with a cryptocurrency brokerage, you'll need to attach your bank account. Most crypto brokerages accept bank funding via debit cards and wire transfers. ACH deposit (linked bank account transfer) is usually the cheapest way to fund your account because it is free on most platforms.

### Step 3: Select a crypto coin in which to invest.

Most active cryptocurrency traders put a handsome amount of money into Bitcoin and Ethereum because these cryptos are more predictable than smaller altcoins.

Many crypto traders invest a portion of their funds in smaller altcoins. Although small and mid-cap cryptos are riskier than large-cap cryptos, they have more significant upside potential. Many small altcoins have increased by more than 1,000% in months, making them appealing investments for risk-averse investors.

### Step 4: Pick a plan of action.

Many different trading indicators are available, and most traders consider several other factors when buying and selling cryptocurrencies. If you're new to investing, consider investing in a cryptocurrency trading course.

If you're an experienced trader, you can use a stock trading strategy. The same stock trading techniques are frequently applied to cryptocurrencies. Elliott Wave Theory is a popular trading method that many traders employ. Elliott Wave Theory is especially effective for speculative assets like cryptocurrencies because it focuses on the psychology underlying market sentiment.

### Step 5: Consider automated crypto trading.

You may consider automated crypto trading when looking for a crypto trading strategy. Trading bots implement a strategy designed to produce the best results possible, given your investment objectives. You can make money quickly, hold coins, or diversify your portfolio because automated trading provides a conservative, neutral, or aggressive method.

Consider trading cryptocurrency actively on some platforms while using automated trading on others.

### Step 6: Store your cryptocurrency

You must store your money on the exchange to have access to it if you're actively trading cryptocurrencies. Get a [cryptocurrency wallet](/news/article/best-crypto-wallet) if you plan to hold your cryptocurrency for the medium to long term.

Digital wallets and hardware wallets are both options for cryptocurrency wallets. Both are safe, but because hardware wallets store your cryptocurrency on a physical, offline device, they provide the highest level of security.

Many investors rely on the Ledger Nano S hardware wallet to store their crypto assets. It has an OLED display for clear viewing and two buttons for confirming or rejecting transactions. This highly secure hardware can support more than 1,100 crypto coins and other digital assets.

[MetaMask](/news/article/what-is-metamask) Wallet is a widely regarded software wallet available to cryptocurrency traders. Because it is an open-source wallet, there is no signup fee for creating your wallet. MetaMask best suits the Ethereum [blockchain](/news/article/what-is-blockchain) and can handle ERC-20 and Ethereum tokens. It is also a beginner-friendly wallet because managing coins is simple with this wallet. Furthermore, if you use a Ledger hardware wallet, you can easily integrate MetaMask with them.

## How do you choose which cryptocurrency to trade?

Although there isn't a single best cryptocurrency, there might be one that is best for a particular use case. For instance, Bitcoin is seen as the best crypto to use as a store of value assets due to its high adoption and limited 21 million coin supply.

Most cryptocurrencies with small market caps either have dubious use cases or have fallen short of their promises. Cryptocurrencies with smaller market caps tend to be riskier than those with larger ones, like Bitcoin and Ethereum.

Investing in cryptocurrencies with a strong team behind them is critical. It is best to read the whitepaper of a cryptocurrency to learn more about it. This will explain how the cryptocurrency works and what it is intended for.

Metaverse cryptocurrencies have been a popular asset class since the beginning of 2022. Tokens such as MANA and SAND are in-game currencies for the blockchain-based metaverses [Decentraland](/news/article/mana-to-gbp) and [The Sandbox](/news/article/mana-to-gbp).

Furthermore, conducting your research before investing in any crypto is always advised. The cryptocurrency market is highly volatile and can offer you rapid growth or sudden fall, for example, the Terra Luna collapse.

## What are the risks involved with crypto trading?

Before investing in cryptocurrency, you should be aware of its volatile nature, potential market and technology risks, and cybersecurity threats. The following sections will cover the potential risks of crypto trading.

1.      High volatility
One of the factors moving the crypto market is volatility. If you're unfamiliar with the term volatility, it refers to rapid shifts in market states that can result in significant and volatile price movements.

Volatility isn't just a concern for the cryptocurrency market. There are several reasons for the asset class's high volatility, including its nascent schematics compared to other investment forms. They can be seen in other financial spaces, but the intensity and spread are more significant in cryptocurrency.

2.      Market risks
Crypto assets are vulnerable to market volatility. There are two kinds of risks in cryptocurrency trading: systematic and unsystematic. Because crypto is inherently risky, the systematic risk exists in all cryptocurrencies. Unsystematic risk is specific to a single crypto asset.

3.      Technology risks
The blockchain technology that underpins cryptocurrency is built with numerous security measures, such as decentralisation, cryptography, and consensus mechanisms, to ensure that transactions are legitimate. However, no blockchain is invulnerable to all threats.

Backing up and storing your crypto wallet regularly helps protect you against computer failure, device theft, and mistakes, such as unintentionally uninstalling your digital crypto wallet. However, it is more difficult to protect against threats such as software bugs, data errors, and attacks (in which a group of crypto miners seizes control of more than half of a network's computing power).

4.      Cybersecurity threats
While cryptocurrency may herald the dawn of a new era, it also has a less-publicised counterpart: cybercrime. Since cryptocurrencies are fully decentralised, the crypto holders' cyber hygiene and safeguards are the number #1 priority.

"Unusual disappearances" and ransomware attacks are both complex and fast-moving threats, and newcomers to the ecosystem are frequent targets. As a result, before entering the crypto world, it is critical to be aware of these risks.
How to manage the risks involved with crypto trading?

1.      Conduct Your Research
Remember the first investment rule: 'Conduct in-depth research and invest what you can afford to lose'. This rule applies to all investments, not just cryptocurrencies. Investing without conducting research or jumping into the investment pool without consulting with an investment professional is not advised.

2.      Understand the Reward/Risk Ratio
Invest what you are willing to lose. The reward-to-risk ratio shows how much you stand to make for each unit of currency risk. A 1:1.5 ratio is thought to be reasonable.

3.      Diversify your holdings.
Investing in a variety of cryptocurrencies may aid in risk reduction. The investment is spread across several coins in a well-diversified portfolio, reducing the impact of volatility.

## Bottom line

If you've ever wondered 'how does crypto trading work', hopefully this article has given you some answers.

Cryptocurrency trading is rapidly growing. It involves both rewards and risks. It is always advised to conduct in-depth research before entering the crypto space and only invest the funds you are ready to lose.


blue image of two men trading cryptocurrency

How Does Crypto Trading Work?

Markets are unpredictable: they can shoot up and go down quickly. This constant change is referred to as bull and bear markets. To put it simply, markets that are experiencing steady and sustained growth are bull markets. Markets experiencing a noticeable decline are known as bear markets.

The bull and bear have become quite symbolic in the investing world as they make it easier to note which markets are up and down. A common misconception about the bull and bear market terms is that they are only used when referring to the stock market. Bull and bear are used to note the conditions of almost every market, such as real estate and cryptocurrency.

## What is a bull market?

The [market for cryptocurrency](/news/article/crypto-impact) is majorly influenced by the general population. A bull market is when the price trends are going upward. In other words, a bull market occurs when investment prices keep rising for a sustained period. The majority is investing and the demand is higher than the supply. Confidence is soaring.

When a market price is seen quickly rising, one can conclude that this indicates the investors are optimistic or "bullish". If the price continues to go up, it may be the start of a bull market. When investors are bullish about a market, that is, they are confident that the price trend will continue to go up, they are known as "bulls". This causes more investors to come in, and the prices continue to rise.

When it comes to [cryptocurrency](/news/article/crypto-invest-strategy), the market is heavily influenced by the public. Public confidence in a cryptocurrency or a market is seen as an asset. Some investors use a strategy to observe optimism known as "market sentiment".

The thing about a bull market is that no matter what, the prices don't continue to go up forever. At some point, investors start to lose confidence and the prices start to go down. Some dips and fluctuations don't automatically mean that the market is not bull anymore. In fact, it is normal to have fluctuations even during a bullish period.

What marks the bull market ending and the beginning of a bear one is when there is a sharp decline in the price. This is when investors are not confident in the market anymore and the prices continue to fall.

## What is a bear market?

Contrary to a bull market, a bear market occurs when investor confidence is slow, and supply outweighs demand causing the prices to go on a downward trend. Investors who are pessimistic about the price trend and believe that the prices will continue falling during this period are known as "bears". It can be challenging to invest during this time because no one can tell when the bear trend will end.

This is due to reasons including economic growth, unforeseen circumstances, investor psychology, and more. A market is only considered to be bear when prices fall more than 20% for a sustained period. Bear markets can last very long, even years. During this time, investors usually look to sell for cash and security. This creates a seller market which contributes to bear market trends.

## Bull and bear - where should you invest?

As discussed above, there are several differences between bull and bear markets. Therefore, the investment strategies for both are also wildly different from one another.

Having a higher allocation of stocks during the bull market period is considered to be better because there is a potential for high returns. One can also capitalize easily in the bull market period by buying the rising stocks or, in this case, cryptocurrency, early and then selling before they hit their peak. This allows investors to gain more capital at a faster pace.

Alternatively, investing in a bear market requires investors to have more of a longer-term [investment strategy](/news/article/crypto-invest-strategy). Like the bull market, the bear market also doesn't last forever. So, when one invests in a bear market, they can typically profit a lot and get high returns on their investments when the cycle goes back to normal. 

Moreover, investors should also be on the lookout for temporary or short spikes if they are looking to sell early.

As an investor, one can use different bull and bear investment strategies like [short selling](https://www.forbes.com/advisor/investing/short-selling/), where investors bet on where the asset price will start to fall. In the crypto world, many investors use the dollar-cost averaging strategy. This is where they continue to invest a certain amount of money every week or month, no matter the price trend.

In either case, bull and bear markets will continue to happen. How one invests during this period largely depends on the investor. If someone is looking for short-term profits, the bear market is the way to go and vice versa.


blue image of cryptocurrency with bull and bear in foreground

Bull and Bear Markets - What to Know

Launched in July 2020, [Anyswap](https://anyswap.exchange/#/dashboard) is a fully distributed protocol that allows you to swap tokens from various platforms. This protocol entered the DeFi space and facilitated cross-token exchange and trading, obtaining strength from its ECDSA Signature Support.

It can efficiently manage the token flow between various blockchains. Most cryptocurrencies, including XRP, [Litecoin](/coins/ltc), and Tether, use Anyswap. It’s also backed by Fusion’s Decentralized Control Rights Management (DRCM) technology.

## What makes it unique?

The Fusion Network powering Anyswap uses private key sharding: splitting the private key into several pieces. Various network nodes manage these parts to ensure that your assets are safe. Also, they are never mixed during trading or exchange to boost asset security further. Here are some other features of the platform that make it unique:

•	Open-source smart contracts that enhance security using individual audits.

•	Can help verify if a platform is decentralized.

•	Allows users to exchange cryptocurrencies instantly.

Not only this, ANY token holders can determine which coins they want to list on the Anyswap DEX, its decentralized exchange.

## ANY coins in circulation

In terms of the maximum possible supply, ANY cannot exceed 100 million. Currently, there are more than 17 million ANY coins in circulation. Initially, this was 15 million, including 5 million as a part of the liquidity provision when the platform launched. The remaining 10 million coins were earmarked for the community, to improve its user base.

## ANY price live data

The live price today, December 9, 2022, is $4.32, with a 24-hour trading volume of $486,218. ANY price keeps changing in real time: it’s up by 5.9% in the last 24 hours. [You can track the changing rate of Anyswap here](https://www.coingecko.com/en/coins/anyswap). ANY has a circulating supply of 0 ANY coins and a total supply of 99.7 million. The all-time highest price for Anyswap is $33.66, as noted on January 14, 2022. Its lowest value was $0.116838 on January 22, 2021.

## ANY trading

It is based on the Ethereum blockchain and supports all ERC-20 tokens. You can buy ANY coins through exchange platforms like Hotbit, 1inch, and SushiSwap. Some other platforms where you can trade Anyswap are PancakeSwap (v2), Uniswap (v2), and SpookySwap. Here are some popular Anyswap trading pairs in the market:

•	ANY/USD.

•	ANY/CAD.

•	ANY/AUD.

•	ANY/GBP.

•	ANY/INR.

•	ANY/PHP.


blue image of anyswap logo and people trading on a laptop

What is Anyswap? 

Unless you've been living in space, there's every chance you've heard about the millions of dollars made from minting NFTs. Whether you're a newbie intrigued by the whole idea or an expert seeking to showcase your artistic prowess, minting NFTs is your chance to digitally immortalize your souvenir on the blockchain or make a fortune. We're about to show you an easy, breezy process for creating NFTs.

## Introduction to minting NFTs

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain having unique metadata and identification codes that differentiate them from each other. Owners have total control over their tokens and can transfer to others or sell them on an NFT marketplace.

Even if you have zero knowledge of NFTs and blockchain technology, here is a hassle-free way to mint NFTs.   

## Step 1: Select an NFT marketplace

Begin by researching the [different marketplaces](/news/article/solana-nft-marketplace) available online to find the appropriate one for your NFT. Among the leading marketplaces are [OpenSea](https://opensea.io/) (Ethereum blockchain), AtomicHub (Wax blockchain), and [Rarible](/news/article/rarible-nft-marketplace) (Flow blockchain). OpenSea is popular among novices and charges a one-time fee for initializing your account the first time you list your NFT. However, note that only select marketplaces use other blockchains, meaning the exercise should be simple.  

## Step 2: Set up a crypto wallet 

A [crypto wallet](/news/article/crypto-wallet-multiple-currencies) is the equivalent of a bank account where you store digital assets like NFTs that you mint or buy. Apart from holding your private keys (password), a crypto wallet safeguards your crypto assets and makes them accessible – crypto wallets can be either physical or digital. Ensure that your chosen wallet is compatible with your selected NFT marketplace's blockchain. Popular examples are Coinbase and Metamask.    

## Step 3: Connect your crypto wallet to a marketplace

Once you've set up your crypto wallet, it's time to connect it to the desired NFT marketplace. If you choose to sell your assets on [OpenSea](/news/article/haas-f1-opensea-collaboration), visit the website and click "create". You'll be directed to a tab showing a list of all the wallets compatible with the marketplace. Select the digital wallet you intend to connect with your OpenSea account – your wallet is now plugged in and ready for NFT trading. 

## Step 4: Create your NFT 

We're now at the heart of the matter – minting your NFT. If you get it right and luck is on your side, you could, just like other NFT traders, change your life overnight!   

From your browser, search for the OpenSea website, go to "My Collections" in the top right-hand corner of your profile and click on "Create a Collection." Follow these steps to create your first NFT:  

Enter the required details to be able to upload the item you wish to sell as an NFT. Choose the file format and name, and add external links to your social media outlet and an appropriate description.   

Select the blockchain you desire to mint your NFT (Ethereum in the case of OpenSea). Carefully verify that all the information you entered is correct (there's no going back after this step), and click on "Create".

Congratulations! You just created your NFT, and it's ready for trading. 

## Step 5: Decide on a pricing strategy

The three main ways of setting prices for NFTs are:

•	Fixing the price – fix a price and place it next to the item.

•	Timed auction – put your NFT up for auction for a predetermined period.

•	Bidding – allow interested buyers to bid to buy it.

## Step 6: Minting NFTs 

Minting NFTs is converting your idea into a digital asset (NFT), associating it with a price tag, and selling it. 

## Step 7: List your NFT 

Once you decide on a price strategy for your NFT, click the "Complete Listing" button to finish the process. If you did everything right, you'd see an announcement that your NFT is listed for sale.


pink image of person making and minting digital nfts

Guide to Minting NFTs on OpenSea

Recent events in the cryptocurrency market demand that traders get acquainted with new altcoin trading tips if they want to see changes in their trading outcomes.

The last few weeks have provided plenty of drama in the cryptocurrency market. This has added further stress to traders who have seen positions dwindle since the market crash that started in November 2021. We have not seen many upsides lately, so traders have been limited to clutching at straws, especially after the collapse of the second-largest crypto exchange.

## What is altcoin trading?

There is a distinction between altcoin trading and altcoin investing. Those who invest in altcoins typically hold them for an extended period to ride out any storms and end up with gains at the end of the day. For instance, some altcoin investors bought into the initial coin offerings (ICOs) of 2017 and rode out the market downturn of 2017-2020, ending up with gains. This article is not tailored toward such market participants.

Altcoin trading involves buying and selling various altcoins to profit from short-term and medium-term price movements. Such traders would usually spot trade on various exchanges or prefer the riskier crypto perpetual market, where it is possible to trade on a bi-directional basis (i.e. going long and short). Altcoin traders are very actively setting up positions all the time, so they need to have their crypto coins on the exchanges all the time. As the FTX saga has proven, this introduces a new level of risk to the trader. The [altcoin trading tips](https://icoholder.com/blog/trading-altcoins/) covered here are for this category of market participants.

## Altcoin trading tips in a bearish market

How do you trade altcoins when the market is bearish as it is right now? Anyone can buy and profit when the market is bullish. But being able to profit in a bearish market is what separates kids from adults in the market. It is possible, whether you believe it or not, to work around a bearish market and trade profitably.

Since the crypto market is currently bearish, how do you go about trading altcoins in a market where prices are more likely to fall than rise? Successful trading of altcoins in any market condition requires understanding some basic principles of price action. There are other things the trader must also be familiar with. These are all mentioned in the altcoin trading tips listed below.

## Altcoin Trading Tip 1: Understand what a trend is

The concept of the trend was introduced to the trading world in a series of writings by Charles Dow, co-founder of the Wall Street Journal and creator of the Dow Jones Industrial Average. This concept forms part of what is now universally known as the Dow Theory. Charles Dow indicated that price action did not move in a straight line but, like an ocean wave, moved around in zig-zags within the context of the general tide of the ocean. 

He likened the price action in the financial markets to the movements that constitute an ocean tide. Mr. Dow indicated that a tide consists of waves, and waves are a collection of ripples. In other words, price action has smaller components. He also opined that the tides were the major trends, the waves were the secondary trend, and the ripples were the minor trends. The major trend was seen on long-term charts, while the secondary trend was the medium-term price action. Price moves on smaller time frames were said to be a minor trend.

Charles Dow also said there were three possible price directions: upward, sideways, and downward. These correspond to the uptrend, range-bound (consolidation) phase, and downtrend. The postulates of Charles Dow have formed the basis for price action analysis, and these still hold in all financial markets, including the crypto market. 

Understanding the roles of the ripples and waves in the formation of the tides will help you navigate the price moves in any market condition, including the present bearish market. So even in a bearish market, there will be periods of brief recovery, consolidation, and an extension of the downtrend. The same occurs when the trend reverses.

## Altcoin Trading Tip 2: Understand how to manage risk

Bitcoin and several altcoins have been known to produce wild price movements. When altcoins move, they move hard. The ability of your account to survive any contrary moves of the market when you have active positions is a function of risk management. Your account must live to be able to fight another day. 

The market rule is that the trader should commit at most 3% of his account size in market exposure. Some traders commit 20% or more to altcoin trades and are surprised at how fast their positions are taken out by reverse movements when trading perpetual contracts. It is better to aim for incremental profits than to target home runs.

## Altcoin Trading Tip 3: Trade what you are familiar with

From this writer's observations, there are altcoins with a reputation for heavy price movements. These are:

1.	Recently listed altcoins (Luna2, Aptos, etc).

2.	Altcoins linked to BTC when the latter is moving quickly (Fantom, Loopring, Yield Finance, Ripple, Litecoin, Bitcoin Cash).

3.	Recently, tokens directly linked to FTX, such as [Solana](/news/article/solana-to-gbp-conversion).

The price movements of these altcoins are very rapid when there is extreme volatility. If you are not familiar with the extreme volatility that can come with trading these altcoins, you are better off avoiding them - trade only familiar tokens. Try to research some altcoins and understand how their price moves play out. Then trade them on a practice account until you are familiar with them.

## Altcoin Trading Tip 4: Have a strategy and stick to it

No piece on altcoin trading tips will be complete without mentioning the role of having a strategy in successful altcoin trading. You must have a strategy and stick to it. A strategy is usually conditions that must be fulfilled on the charts for a trade entry and exit to be validated. Having one introduces the element of discipline and allows you to filter trade conditions properly.

A strategy must include additional elements such as risk management and risk-reward ratios. You must also develop the appropriate psychology when trading. Know when to keep trading even after a loss and when to walk away. Do not force your entries or exits.

You can get a programmer to create a bot that embodies your strategy elements so that trades only become active when you meet the strategy parameters.

## Altcoin Trading Tip 5: Don't make your stops too tight

Setting tight stop losses is a sure way to lose your account. If you set your stop too tight, the market move could trigger that stop before the trade moves in your direction.

Why do traders set their stop losses too tight? It is usually due to the fear of losing. This fear of loss comes from taking on too much risk. If the trader decides to reduce risk exposure to a minimum, it will allow for a more generous stop placement that enables the trade to breathe. If the trade ends up being a loser, the lower risk will also reduce the scale of losses. The price action only sometimes takes off in the trader's preferred direction. It may enter negative territory (the drawdown) before it becomes positive.

## Altcoin Trading Tip 6: Know how to identify support and resistance

Support is a price at which selling pressure starts to dry up. Resistance is a price at which buying pressure starts to fade. From this definition, it is clear that a support level/zone is a potential buy area. In contrast, a resistance zone/level is a potential point to sell or exit existing long trades.

Knowing how to identify support and resistance areas will help you not stay in altcoin trades for too long. It will also help you get better entries and exits for your trades. Recall that altcoins make rapid moves in wide ranges when the crypto market is volatile. You want to avoid seeing a profitable position start to reverse against you because you did not exit at the right point. You also want to enter early enough to catch a decent move.

The identification of support and resistance will eliminate such mistakes. Standard support and resistance tools include trendlines, pivot points, channels, and Fibonacci price levels.

## Altcoin Trading Tip 7: Avoid long trading breaks

Do not allow yourself to get "trade rusty". In soccer, there is a phenomenon known as match rustiness. In boxing, it is known as ring rust. It is a well-known fact that taking extended breaks from an activity that requires repetition to attain perfection results in a loss of cutting edge because of the inactivity.

If you take long breaks from trading, you start to lose a dimension of your edge. If you have had a string of bad results, you should stop trading a live account and switch to a demo to retain an element of your mental affinity for trading.

## Conclusion

The altcoin trading tips discussed above only represent part of the gamut of what you need to do to remain a consistent altcoin trader. However, if you can incorporate several of these altcoin trading tips into your day-to-day trading activity, you will see positive changes in your trading career.


Altcoin Trading Tips

Ever wondered how to send Bitcoin? Sending Bitcoin (BTC) is a straightforward process. You will require three things; a crypto wallet, some Bitcoin, and the recipient's address. You will also have to ensure you have some extra funds to cater to the transaction fees.

Depending on your crypto wallet, the process of sending the cryptocurrency could be slightly different. However, the steps are generally the same for most wallets. For the sake of this article, we'll be using the [Bitcoin.com wallet](https://wallet.bitcoin.com/?_gl=1*1xz6ata*_ga*MzM1ODA3MDk3LjE2NjgxOTMwODY.*_ga_ERLPF60ZDD*MTY2ODY1NDE2Mi42LjEuMTY2ODY1NzE0MC4wLjAuMA..) to send the cryptocurrency.

## How to send Bitcoin: Four simple steps

### Step 1: Access the wallet

You’ll first have to access the Bitcoin.com wallet before you can transfer the cryptocurrency. Once there, tap the “send” button to access the list of supported cryptocurrencies. From the list, select the coin.

### Step 2: Enter the recipient's address

A BTC address is an alphanumeric string. This will sometimes look something like: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy.

To enter your recipient’s address, you have the option of copying it to your clipboard and then pasting it in the send field. You can also scan the QR code of their address using your phone's camera. This will automatically fill it in. Not all wallets have the QR code technology.

### Step 3: Enter the amount

Enter the amount you wish to transfer. Double-check to ensure you are sending the right amount. If you transfer less, you will incur extra network fees for sending the rest. If you transfer more, well, it's your loss.

[Most wallets](/news/article/best-ethereum-wallet) allow users to toggle between seeing the send amount as BTC or showing it in their local currency.

### Step 4: Confirm the transaction

Once you are sure all the information you’ve provided is correct, tap or toggle the send button. And as simple as that, you've sent the cryptocurrency to your intended recipient.
Some wallets may require users to select the network fee before confirming the transaction. The transactions may be trustless, but they do cost a network fee.

## Network fees

Network fees are funds paid to miners and validators for validating and adding transactions to the next block in a blockchain. They act as an incentive for miners and validators to confirm transactions.

Many [BTC wallets](/coins/btc) allow users to customize the network fees when sending the cryptocurrency. Bitcoin.com wallet, for example, has three fee settings as well as the option to set custom fees.

The "Fast" speed is the default speed and will have your transaction confirmed in less than 30 minutes. The "Fastest" speed will have your transaction confirmed in less than 20 minutes, but you'll pay a higher fee. Then there is the "Eco" network fee option that will save you some cash, but will result in your transaction getting confirmed in less than 60 minutes.

Transactions with higher fees tend to be picked up faster by miners because they have higher profitability. They are therefore confirmed faster. For wallets that allow users to customize network fees, you can opt for faster transaction processing by paying a higher fee.

## Conclusion

Sending BTC is an easy process. However, if you are not careful about the information needed for the process to be successful, including using the correct recipient address and filling in the right amount, it can easily become one of your biggest mistakes or regrets.

The process is irreversible. If the coins go to the wrong address, you are never getting them back. You should always be careful while transacting in crypto assets.
 
 


How to Send Bitcoin

Want to know how to buy Bitcoin in the UK? Bitcoin is a digital currency operating independently of any central authority or government oversight. It is based on peer-to-peer software technology and cryptography.

It is open-source and is designed to be open to the public, no one owns or controls the coin, and anyone can participate. Many of Bitcoin's unique properties enable exciting uses that no previous payment system could cover.

Purchasing Bitcoin is the easiest way to invest in the rapidly growing cryptocurrency industry. The leading digital asset has established itself as a giant deflationary currency, prompting investors all over the UK to look for Bitcoin exchange platforms.

In this How to buy Bitcoin UK Guide, we explore the options.

## How to buy Bitcoin UK?

You can use the exchange platform eToro to buy [Bitcoin](/news/article/bitex-trade-bitcoin) in the UK by following these quick steps:

1.	Create an eToro account - To access the registration page, go to the eToro site and click on 'Join Now.'

2.	Deposit Funds: Deposit a minimum of $50 (£43) into your account via bank wire transfer, credit/debit card, or e-wallet solutions.

3.	Search the coin - Enter 'BTC' into the search bar and select the appropriate popup result.

4.	Buy - Click' Trade' to open the purchase page. Enter the amount of coin you want to purchase and click 'Open Trade' to finish the transaction.

## Where to buy Bitcoin in the UK? 

If you've ever Googled 'how to buy Bitcoin UK', this may answer some of your questions. Looking for the best exchange platform in the UK with the lowest fees to purchase Bitcoin? The top exchange for buying Bitcoin in the UK are listed in this section.

1.	[eToro](/news/article/etoro-fees) - The best exchange to buy crypto
eToro is a multi-asset exchange platform that enables users to invest in various stocks and cryptocurrencies. On eToro, investors can choose from over 115 cryptocurrencies, including well-known coins such as Bitcoin, Ethereum, and Litecoin. It is, without a doubt, among the best sites to purchase Bitcoin online.

Opening an account with eToro is free, and you receive a free trial account worth $100,000 to test the waters with cryptocurrency and other assets before committing to them.

In terms of trading tools, eToro offers copy trading, which allows new investors to replicate the successful trades of more professional investors. This minimizes possible losses while increasing expected returns. The low fees charged when trading Bitcoin are what truly distinguish eToro.

2.	[Coinbase](/news/article/coinbase-google-partnership) - Leading platform to buy Bitcoin UK
Coinbase is a cryptocurrency trading platform that allows you to buy, sell, and earn popular crypto assets all in one place. It offers over 100 cryptocurrencies and other digital assets, including significant coins such as Bitcoin, Ethereum, and Dogecoin. 

Coinbase's mainstay is its highly intuitive user interface, which makes it simple for new investors to trade cryptocurrencies. You can set up recurring trades and gradually invest in digital currencies by scheduling daily, weekly, or monthly purchases. You can also log your transactions and monitor market changes using the online app or the iOS and Android mobile applications.

The platform also provides crypto and NFT storage in a single location. Users can also earn interest when using the Coinbase Wallet. 
On debit card deposits, Coinbase charges a 3.99% deposit fee. Other fees are based on the size of the trade, with transactions under $10,000 attracting a 0.50% taker and a maker fee.

3.	[Binance](https://www.binance.com/en) - Best low fees exchange platform
Bitcoin is prominent in the Binance exchange's daily transaction volume. Since then, the top crypto dog has established Binance as one of the world's most elite exchange platforms.

Changpeng Zhao launched [Binance](/news/article/guide-to-binance-uk) in 2017, and the Bitcoin exchange has become a popular destination for investors due to the diverse range of digital assets available. The platform supports more than 500 crypto assets and charges a base fee of 0.10%. This is taken further with the Binance Coin, which reduces it to 0.025%.

Binance provides real-time price updates and several innovative services, such as margin and futures trading. The minimum deposit is $10. (about 8.7 GBP).

4.	[Swapzone](https://swapzone.io/) - Platform to buy Bitcoin with crypto
Swapzone is a [cryptocurrency exchange](/news/article/best-exchanges-for-crypto-uk) aggregator that works in real time. This platform streamlines the exchange process by collecting the information required to find the best exchange rate.

It is currently a one-stop solution for exchanging 500+ cryptocurrencies from 15+ exchanges.

Swapzone's operating principle is as follows: the platform receives user inquiries, obtains deals directly from its partners, sorts them by rate, speed, and rating, and allows users to make swaps through selected providers without leaving the aggregator's website. In this way, Swapzone assists users in making informed decisions when saving money and time.

Another advantage of Swapzone is that all swaps are custody-free. As a result, you will not need to register if you want to buy BTC with cryptocurrency on this platform.



green image of bitcoins with a person buying bitcoin on their phone

How to Buy Bitcoin UK Guide

Monero is a digital currency offering anonymity for users and their deals. It is decentralised and characterised as privacy oriented. Here's how to buy it.

Monero was among the first [cryptocurrencies](https://www.kraken.com/en-gb/learn/what-is-cryptocurrency) to use encryption and provide significant improvements in privacy and fungibility over existing alternatives. 

Its primary distinction was the ability of users to send and receive transactions without exposing this data to anybody investigating its blockchain. 

The [sender](https://www.getmonero.org/get-started/what-is-monero/), receiver, and amount of each transaction are hidden through three key technologies: Stealth Addresses, Ring Signatures, and RingCT. 

Merchants and people that accept Monero should not be concerned about banned or corrupted currency. There is no wire transfer, check clearing fees, multi-day hold periods, or false chargebacks. It is also not bound by any particular legal jurisdiction and offers protection against capital control.

## Why buy Monero? 

If the user is a computer enthusiast looking to learn about cutting-edge breakthroughs in encryption, XMR may be a [cryptocurrency](/news/article/guide-to-glitch-crypto) that piques their interest. 

Similarly, if speculative investors believe crypto users will continue to seek assets with high privacy, they may bet on it.

## Where can you buy Monero? 

Users can look for an individual seller online or go to a crypto-enabled ATM, but the most straightforward way to acquire XMR may be through a reputable exchange.

## How to buy Monero on an exchange

### 1.	Create an [account](https://www.binance.com/en-GB/how-to-buy/monero).
On the various exchanges sign-up page, enter an email address, choose a new username, and set a strong password for protection. 

### 2.	Account verification 
The simplest method to get started is to buy XMR with a [currency](/news/article/zee-crypto) that consumers currently have (such as USD or EUR). In this situation, however, they will be required to present supporting documentation authenticating their identification and linking external accounts. Check out our verification levels documentation for additional information on our onboarding process. 

Users may also purchase XMR using other cryptocurrencies such as Bitcoin or Litecoin by providing their full name, birth date, country of residence, and phone number.

### 3.	Deposit cryptocurrency or cash 
Exchanges provide a range of funding options for cash transactions based on where you reside and your account settings. Investors must first generate a deposit address and transmit money from their current wallet to that address to deposit cryptocurrency. 

### 4.	Purchase XMR 
Users can purchase XMR after their cash is sent to their exchange account. In addition, most exchanges offer global customer assistance, sophisticated order types, charting tools, and leveraged trading alternatives.

## Where to keep Monero after buying? 

Monero is private by default, but that does not mean it is secure. This implies that once consumers have finished purchasing XMR, they must take action to protect their cash. 

There are several wallets from which to safeguard XMR. The consumer's choice determines their security and spending choices. The easiest method is a Monero wallet, allowing investors to transfer, receive, and keep their XMR.


How to Buy Monero

While it's not as well-known as Bitcoin, it's still a currency worth paying attention to. If you're looking to convert your Dogecoin into GBP, you need to know some things to get the best rate.

[Dogecoin](/coins/doge) is a popular cryptocurrency. While it was originally created as a joke, the coin has gained much traction and has even been used to purchase goods and services.

## What is Dogecoin?

Dogecoin, or "Doge", is a decentralized, peer-to-peer digital currency that allows users to send money online. The currency was created in 2013 by Jackson Palmer and Billy Markus to make cryptocurrencies more accessible and fun. The name comes from the popular "Doge" [meme](/news/article/memecoins-whats-popular), which features a [Shiba Inu dog](/news/article/akita-inu-coin).

Doge has several advantages over other cryptocurrencies. For starters, it has a much lower transaction fee than Bitcoin. Additionally, Dogecoin transactions are confirmed much faster than Bitcoin transactions. Finally, there is no limit to the amount of Dogecoins that can be mined, unlike Bitcoin, which has a 21-million-coin limit.

While Doge is not as widely accepted as Bitcoin, there are still a number of places where you can use it to purchase goods and services. In addition, a number of exchanges allow you to convert Doge to other currencies, including GBP.

## Converting Dogecoin to GBP

The first step in converting [Dogecoin](https://dogecoin.com/) to GBP is to set up a wallet. There are several different wallets available for Dogecoin, but we recommend using the official Dogecoin wallet.

Once you've downloaded and installed the wallet, simply open it up and create an account.

Once you've created an account, you'll need to find an exchange that supports both Dogecoin and GBP. We recommend using Binance or Kraken as they're both reputable exchanges with low fees.

Once you've found an exchange that meets your needs, create an account and deposit your Dogecoins into the exchange's wallet. Once your Dogecoins are deposited in the exchange's wallet, you'll be able to trade them for GBP (or any other supported currency).

Place an order for the amount of Dogecoins you want to sell at the current market price and wait for someone to match your order. Once your order is matched, your Dogecoins will be automatically converted to GBP and deposited into your exchange account. You can then withdraw the GBP to your bank account or use it to purchase goods and services online.

By following these steps, you can ensure that you'll get the best rate when converting your Dogecoin into GBP.


How to Convert Dogecoin to GBP

In 2022, interoperability and bridging have been the top priority of developers. Alongside Polygon Bridge, several [bridges](/news/article/binance-bridge) are already in place that connect different blockchains. Among them, the top blockchains that provide a solution for this problem have been [Binance](/news/article/guide-to-binance-uk) and [Avalanche](/news/article/avalanche-crypto-metamask). 

[Polygon](https://polygon.technology/) is also an emerging network for interoperability. It offers two bridges that allow easy transfers between MATIC and Ethereum. Here, we discuss the workings of Polygon and explore how you can transfer tokens between different networks! 

## Polygon Bridge explained

It is yet another solution in the crypto space for asset transferring between different blockchains. Since the blockchain provides scalable infrastructure for networks supported by [Ethereum](/news/article/ethereum-the-merge), moving assets between blockchains is necessary. That's why a bridging mechanism was created to allow interoperability.

This provides the MATIC network with a cross-chain feature, which operates on a trustless smart contract. With the availability of this feature, you can send ERCs and [NFTs](/news/article/polygon-nft-drops-2022) to its side chains. 

There are two [Polygon bridges](https://wiki.polygon.technology/docs/develop/ethereum-polygon/getting-started/#pos-vs-plasma); one is Proof-of-Stake (PoS), and the other is Plasma. PoS bridging is a widely used option as it is highly flexible and supports more token standards.  

## How to use a PoS bridge

The following steps will guide you on using the PoS bridge. 

1.	Firstly, go to the [web wallet](https://wallet.polygon.technology/) and choose the Polygon Bridge option.
2.	Link your cryptocurrency wallet, like [MetaMask](/news/article/what-is-metamask) or any other, to it. Then, you need to sign a verification message and proceed to it by verifying the URL.
3.	It will redirect you to the bridging interface. Else, you can go to that page by selecting the option from the menu bar on the left. 
4.	Then you would need to send tokens from Ethereum to the Matic network. For this, click on the ‘Deposit’ tab and select the token you have to bridge. 
5.	After that, enter the amount as per your preference and proceed with ‘Transfer.’
6.	Next, it will show you important reminders about what it supports and what it does not. After reading that, you can go ahead with ‘Continue’.
7.	Then you will be able to review the estimated transaction fee. Here check all the transaction details and proceed with ‘Continue’.
8.	 Next, it will ask for your approval via signature. If all the details are correct, continue by clicking ‘Confirm’.
9.	Your transaction will take a few minutes. Meanwhile, you can monitor its status through [Etherscan](https://etherscan.io/).  
 
[Polygon](/news/article/polygon-crypto) provides a formidable infrastructure for Ethereum-compatible blockchains whose bridging tool completes it by providing cross-chain asset transfers. It has two bridging options; PoS and Plasma. 

PoS can be ideal as it allows flexibility and supports many tokens. If you own a crypto wallet, like MetaMask, you can easily integrate it with the Polygon Bridge to transfer your assets between different blockchains.
 


Polygon Bridge Guide: Transfer Your Asset

[SOS](https://www.finder.com/uk/how-to-buy-opendao) will not be available for purchase on an exchange in the United Kingdom. So, where can you buy OpenDAO in the UK?

Users can still buy SOS by using a decentralised exchange (DEX). Decentralised exchanges run on blockchains such as Ethereum and are essentially exchanges allowing users to trade any asset with one another directly.

1.	Find SOS on a decentralised exchange and ensure OpenDAO is tradable for ETH, Ethereum's native asset. Popular DEXs include Uniswap, SushiSwap, and 1INCH. 

2.	Using an exchange such as CoinJar, purchase ETH to trade for SOS. Users must buy enough ETH to swap for SOS and ETH to cover Ethereum network transaction fees (gas). You can find out how much gas fees currently cost by using a service like Etherscan. 

3.	To connect to the DEX, deposit the ETH into a web 3.0 wallet such as MetaMask.

4.	Follow the on-screen instructions to trade ETH for SOS on the DEX of your choice. Users must ensure they have enough ETH in your wallet to cover gas costs. 

5.	Wait for the transaction to complete before receiving the SOS tokens in your wallet.

6.	Users can now keep the tokens in their web 3.0 wallet or transfer them to a more secure location, such as a hardware wallet.

## Best OpenDAO wallets to store your SOS

Investors can keep their SOS on the exchange they bought it on or move it to a personal wallet:

•	Some people prefer to use their wallets to ensure total ownership of their assets or to use them in conjunction with other applications such as DeFi services. 

•	Hardware wallets are regarded as the safest type of cryptocurrency wallet because they use a physical device to improve security in various ways.

## Is OpenDAO a good investment?

Purchasing cryptocurrency can be a risky endeavour, but there are precautions users can take to reduce risk, such as conducting thorough research about [OpenDAO](/news/article/daomaker-guide) before purchasing: 

Investors can spend time researching a coin before deciding to invest, especially if the coin's price is seemingly spiking for no apparent reason. 

Stick to reputable exchanges: Stick to more well-known crypto exchanges to avoid losing money in a scam. Try to store cryptocurrency in a hardware wallet instead of on an exchange.

Investigate the coin's creators and developers: A frequent red flag is anonymous teams. You might want to consider alternative cryptocurrency investments if you can't find information on the coin's creator.

## How to trade, convert or sell OpenDAO

Users can convert or sell their SOS on the same exchange where they purchased it: 

1.	Sign into the exchange where SOS is.
2.	Compare crypto exchanges to convert or sell your [OpenDAO](/news/article/nrch-crypto-explained) if you keep it in a digital wallet. 
3.	Select Sell or Convert and enter a sell order. 
4.	Select the amount of SOS you want to convert or sell. 
5.	Confirm the selling price and fees, and then complete the sale of OpenDAO. 
6.	Complete your transaction and save your SOS in a wallet.

## OpenDAO Vision

1.	Maintain USDO health:

•	Maintain [peg](https://opendao.gitbook.io/whitepaper-v4/introduction/dao-mission-statement).

•	Increase liquidity.

•	Use only appropriate collateral to support USDO borrowing.

2.	Increase the circulation of USDO. Increase the amount of USDO in the market by pre-seeding various lending markets.
3.	Boost USDO Adoption 
4.	Encourage native use cases, such as on-chain applications, off-ramps, and real-world acceptance. 

The DAO is responsible for ensuring that only high-quality collateral is whitelisted. Following this goal, OPEN token holders can stake OPEN for veOPEN, which grants them voting rights in governance matters such as minting more USDO, determining which collateral on the whitelist is accepted, and seeding whitelisted markets. 

veOPEN holders receive mint and interest fees generated by the OPEN protocol. If a whitelisted collateral market experiences a black swan collapse, treasury OPEN must be sold to cover any losses.

After a three-month lock, OPEN locked in to create veOPEN can only be unstacked. Only committed OPEN holders have the right to vote on governance and fees. 

## Use Cases for OpenDAO

As a stablecoin, USDO is for whatever purpose the user desires. On various AMMs, different USDO token pairs allow the swap of USDO against other tokens such as BUSD, USDC, and USDT. OpenDAO is working to develop various native use cases for USDO.


How to Purchase OpenDAO in the UK

[Cobak](https://cobak.co.kr/) is a Korean-based cryptocurrency platform that has shaped Korea’s most influential community in the crypto space. The platform runs an app with around 60,000 daily active users and 300,000 total downloads. It also has introduced the [CBK crypto](https://www.forbes.com/digital-assets/assets/cobak-token-cbk/) coin, one of the largest Korean cryptocurrencies.

The Cobak token is currently valued at only $0.807. But, one reason it has grabbed investors’ attention worldwide is its low-risk rank. Because of this reason, many investors consider it a somewhat safer bet in a speculative asset class.

Are you interested in knowing more about its potential? Let’s take a deeper dive into Cobak blockchain and CBK crypto!

## A brief overview of Cobak

Cobak is a blockchain and cryptocurrency platform launched in March 2018. Earlier, it started as a news service related to cryptocurrencies. But, later, it rolled out its CBK token with its first sale through ICOs (Initial Coin Offering) in 2019. The platform also develops blockchain wallets and organises several airdrops through its Pop Quiz and Cobak Live. 

The token is based on the ERC-20 standard and can be supported by all Ethereum-based wallets. In addition, it works on the Proof-of-Stake ([PoS](/news/tag/pos)) mechanism like [Ethereum](/news/tag/ethereum). The token is used to power the Cobak ecosystem and precisely has four significant roles within the ecosystem. These are:

•	CBK crypto serves as the utility token on the network and facilitates transactions.

•	It helps in unlocking exclusive benefits for the members.

•	It is distributed as a reward among members for performing certain acts that are helpful to the community and the network.

•	You can use it to pay platform fees.

## CBK crypto tokenomics

CBKs facilitate all the economic activities on the Cobak network. The total supply of CBK crypto is 100,000,000 tokens. The largest part, which makes up 33% of these tokens, has been allocated to the ecosystem. 

The second-largest allocation, 30%, is assigned to private sales. Another 20% is for [DeFi](/articles/learn-moni/what-is-a-defi-token) staking incentives, and 15% is for the Cobak team. Lastly, 2% of tokens are reserved for the platform partners.

![cobaj.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cobaj_d8a46cc098.png)
 
#### Source: Cobak Whitepaper

However, there is a token-burning mechanism which eliminates tokens from the total supply. This mechanism is in place for the development of the network. It will burn 20% of the tokens to maintain their value over time. A percentage of the withdrawal fee and service payment will be used for burning.   

## Where to buy the CBK Crypto coin?

It is relatively easy to find this cryptocurrency, as it is available on most top exchanges. You can quickly trade it on [Coinbase](/news/tag/coinbase), [Kraken](https://www.kraken.com/), [Gate.io](https://www.gate.io/), [MEXC](https://mexc.com/), Upbit, DigiFinex, and others. Most commonly, it is available in CBK/USDT and CBK/BTC trading pairs. Some exchanges might also allow fiat exchanges.

## CBK token price prediction

As of October 06, 2022, the worth of one CBK token is $0.807. However, CoinMarketCap shows it touched its highest level of $16.31 in April 2021. On the other hand, its lowest was $0.746 in June this year. 

As per the observations by various analysts, the token holds [low risk](https://www.investorsobserver.com/crypto/8107/cbk). This implies that only a large flow of dollars can impact the price of CBKs. That’s why small movements in or out of the market will not necessarily translate into big-price actions. 

Other economic factors may not influence the CBK price volatility much as other cryptocurrencies. Therefore, it poses a less risky option for investors. 

The prediction from [DigitalCoinPrice](https://digitalcoinprice.com/forecast/cobak-token) is in line with this view. It suggests that in 2023, the coin will trade at an average value of $1.82. In addition, its highest may reach $1.92, and its lowest could be $1.72. Its steady growth may continue until 2025, with the price likely averaging $3.28. In 2030, the CBK token’s price is forecast to reach $11.45. 

## Is CBK crypto a good investment?

The CBK crypto is a relatively new project that offers informative content and blockchain wallets. The forecast for the coming years for this crypto shows steady growth. Though you would not get as much upside as other coins, it may provide profitable gains. 

It is likely to be a less risky bet for investors as small-scale dollar inflows and outflows do not influence its price. Nonetheless, as the crypto market is volatile, thorough research is advisable to avoid risks. 
 



CBK crypto 101: a thorough guide to the platform

The [Celo platform](https://celo.org/) is a layer-1 protocol that introduces an ultralight and fast app through which you can do transactions in stablecoins or tokens. This protocol allows you to develop user-friendly and borderless financial tools accessible via mobile.

The Celo token as it is the native currency on the platform. You can earn this crypto in various ways, including staking, [lending](/news/article/crypto-lending), or yield farming. However, as it is based on PoS, staking is highly rewarding.

This article runs through the steps to stake Celos to make better profits. 

## How to stake Celo?

The following simple steps will help you figure out how to stake Celo tokens!

1.	Create a Celo web wallet

![celo 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/celo_1_20be758d83.png)
 
You first need to create a web wallet to earn Celo staking rewards. For this, go to the [Celowallet.app](https://celowallet.app/setup) and click on *Create New Account*. It will show a warning for security risks of using the browser version. Here you can proceed by clicking the *I Understand* button. 

![celo 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/celo_2_84ae71b2aa.png)

Then, it will show your public address, unique icon, and seed phrase. Note down your wallet address and seed phrase so that you can securely access your account in future. 

2.          Set up the desktop app

After that, install the desktop app on your device. Sign in to your wallet by entering your details. Once your wallet runs on the app, you can send Celos to it for staking.  

3.          Lock Celos

Now, you need to lock the Celos you want to stake. For this, click on the *More* button, which will open a dropdown menu. Select the Lock option here and enter the amount you want to stake. After that, proceed with *Continue* and confirm with *Lock*.
 
4.          Assign Celos to a validator group

Once you have locked the tokens for staking, you can assign them to multiple validators. Again, go to the More dropdown menu and select *Stake* for assigning them to a validator. It will lead you to a list of validators in the system. 

This is tricky, as you have to choose the right validator to earn better rewards. However, you can easily check their track records by clicking on their names. If the status is good, you can proceed with the *Vote for Group* button.

After that, you can enter the number of tokens you would like to delegate to the selected validator. Finally, continue and confirm by clicking on Vote.

5.          Activate validator votes

The last step for staking Celo is to activate your validator votes. As the platform requires 24 hours to verify the votes, you would have to wait. Then, revisit the app after the period, and it will ask you about vote activation. 

Proceed with *Activate*; a page will appear with all the details about the validator and staked amount. Finally, verify these details and activate these votes to stake Celos.

## Bottom line

Celo staking is one of the easiest ways of earning rewards on the platform. First, you must set up a Celo wallet and app on your device. Then, send Celos to your wallet and lock them for staking. After that, delegate the tokens to a validator by voting for them. Finally, activate your votes after 24 hours to earn staking rewards. 



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