For All New Investors in Virtual Assets.
Virtual Asset is a digital representation of an item that has value in a specific environment.
This form of money or asset can be moved, exchanged, paid for, or invested digitally. Virtual assets most frequently take the form of digital money like Bitcoin, Litecoin, Ethereum, or Dogecoin.
Cryptocurrencies & Crypto-exchanges
Crypto exchanges function similarly to online brokerage platforms, providing you with the tools you need to buy and sell digital currencies and tokens like Bitcoin, Ethereum, and Dogecoin.
When choosing a cryptocurrency exchange, it’s important to look at factors such as supported assets, fees, payment methods, and security. We considered these factors when selecting this list of the best cryptocurrency exchanges.
While purchasing a few hundred dollars worth of Bitcoin from a nearby Bitcoin ATM may be practical, using an exchange makes more sense if you want to spend a bigger sum of money or if you want to purchase a variety of cryptocurrencies. The most secure and legitimate way to acquire cryptocurrency is through exchanges. But that’s not the only benefit of using an exchange.
Look into Bitcoin and Altcoin
- Bitcoin and most altcoins are volatile forms of crypto.
- Both types of crypto are based on blockchains, are considered decentralized and are run on peer-to-peer networks.
- Bitcoin has a 13-year track record, longer than any altcoin, which help investors understand how Bitcoin performs in different economic environments.
- While BTC is worth about $21,100, as of July 26, 2022, altcoins vary in value from thousands of dollars to less than a cent.
- Bitcoin is considered a store of value, whereas altcoins may offer innovative functions and purposes.
What are NFT?
Non-fungible tokens (NFTs) are cryptographic assets on a blockchain that can be distinguished from one another by their distinctive identifying codes and metadata.
They cannot be bought or exchanged for equivalent amounts like cryptocurrencies can. This contrasts with fungible tokens, like cryptocurrencies, which are interchangeable and can thus be used as a medium for business transactions.
How to Trade NFTs - 5 Quick Steps
✅ Step 1 – Choose the Best Place to Trade NFTs
In order to trade NFTs, you will first need to choose a suitable marketplace. Crypto.com is the best option here for beginners, as the platform is home to thousands of NFTs – all of which you can buy without paying any fees. Plus, the market place also allows you to flip the NFT that you buy at your own listing price.
💳Step 2 – Deposit Funds
After you have opened an account with the market place, you will then need to make a deposit. This will ensure that you have sufficient funds to trade NFTs. You can deposit funds via ACH instantly and for free. Debit/credit cards and crypto deposits are also supported.
📖Step 3 – Research the NFT Market
Before choosing an NFT to trade, you should spend some time learning how this market works. Consider getting to grips with key market concepts and strategies so that you give yourself the best chance possible of making a profit.
🔎Step 4 – Choose Which NFT to Trade
Now for the fun part – head over to the marketplace and browse the many NFTs that are available to buy. Some NFTs come with an instant purchase price while others are available via an eBay-style auction.
🛒Step 5 – Trade NFTs
Once you have decided which NFT to trade, you can then proceed to make a purchase or bid. Once the transaction is complete, the marketplace will debit your account balance and the NFT will be added to your wallet.
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Disclaimers: The information on this site is for general information purposes only. It is intended to be used by virtual assets investors, but it does not constitute professional advice, whether legal or otherwise, and does not purport to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content. LITELAB@HKU does not accept responsibility for any loss that may arise from accessing or relying upon the information contained on this site.