Cryptocurrency

Cryptocurrency

Cryptocurrency is going mainstream — and becoming increasingly difficult for investors to ignore. Let’s find out what is it and how traders earn money by investing in crypto.

 

What is crypto?

A cryptocurrency (crypto) is a digital currency that is used to buy goods and services and secured by cryptography. Most of the cryptocurrencies are decentralized networks based on blockchain technology.

 

Why people are so interested in cryptocurrencies?

Potential to grow

Crypto is usually seen as the currency of the future and investors rush to buy it now, before it possibly increases its value.

No control of authorities

Cryptocurrencies are not controlled by any central bank that makes them more attractive in a time of high inflation, which reduces the value of money.

Safety

A cryptocurrency is secured by cryptography, which makes it nearly impossible to fake or double-spend. It’s said that crypto can be more secure than traditional payment systems.

 

How to earn money on crypto?

There are three ways of doing that: investing, trading, and mining. We’ll cover the first two.

Let’s start with investing. It’s a buy-and-hold approach. Investors buy the most promising cryptocurrencies, wait for some time, and then sell them at a higher price to have a profit. The rules are the same as for investing in stocks! Unlike investing, trading is a short-term approach. Traders make money on price changes during a day, several hours, or even minutes. Just like trading currency pairs! The cryptocurrencies tend to be more volatile than other Forex assets, and these fluctuations create more opportunities for traders!

Best cryptocurrencies you can trade with FBS

Cryptocurrency

Market Capitalization

Bitcoin

$735.3 billion

Ethereum

$324.2 billion

XRP

$46.5 billion

Litecoin

$11.2 billion

What are trading pairs in cryptocurrency?

Currency pairs on the Forex market consist of two currencies. For example, EUR/USD. The EUR is a base currency, and the USD - a quote currency. When you place an order for a currency pair, you buy the base currency and sell the quote one. In crypto trading, there are such hybrids as BTC/AUD and ETH/EUR. So, you can trade the Bitcoin against the Australian dollar and the Ethereum against the euro. Just like with currency pairs, you buy the base cryptocurrency and sell the quote one.

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What is Bitcoin Cash?

Bitcoin Cash is a cryptocurrency that was created in 2017 from a “fork” in the original Bitcoin blockchain. It has a greater size limit of blocks added to the blockchain than the original BTC.

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2021-06-23 • Updated

Frequently asked questions

  • How to open an FBS account?

    Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading. 

  • How to withdraw the money you earned with FBS?

    The procedure is very straightforward.  Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.

  • How to start trading?

    If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.

  • How to activate Level Up Bonus?

    Open Level Up Bonus account in web or mobile version of FBS Personal Area and get up to $140 free to your account.

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