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With just a few dollars worth of Bitcoin you can start trading cryptocurrencies right now. There are no broker fees, there are no middlemen to deal with, nor really any barriers to entry or red tape. All you need is some percentage of a single Bitcoin. There is no reason not to try it out. If you can accept risking a few dollars, it’s a great way to get into cryptocurrency.
But what is cryptocurrency?
Cryptocurrency is more than just a bunch of digital numbers that people have decided to use as money. The technology that was brought forth by Bitcoin is essentially a decentralized public ledger system, known as the Blockchain. This cryptographic Blockchain technology is what makes Bitcoin, Litecoin, Darkcoin, and other Bitcoin-alternatives a “cryptocurrency.”
So let’s get started. First buy some Bitcoin.
There are some exchanges that will let you purchase specific cryptocurrencies for USD, but it’s a better idea to buy Bitcoin first. With some Bitcoin, you can trade into and out of every other cryptocurrency on the market, on every crypto exchange. Remember: you don’t have to buy a whole Bitcoin ($390 as of writing this); you can purchase Bitcoin in fractions known as Bitcoin Trading; for example, 500k Satoshis equals 0.005 Bitcoin. The safest, most popular place to purchase Bitcoin is coinsclone however you can also go to an exchange that has a USD-BTC pairing to try to trade USD for Bitcoin at a cheaper rate.