What are digital currencies and how are they traded?

 The name of digital currencies is given to a group of virtual currencies that are traded on the Internet, and although they are intangible, they have a great potential for users and traders in all countries of the world, as many merchants and institutions began using them instead of traditional money, and it became possible to pay Purchase and service invoices are in it, and many people are using it to exploit its value in the long run.

What are digital currencies and how are they traded?

For these digital currencies to be traded, there is a set of complex encryption processes that are used; This is to protect traders from exposure to any fraud or forgery. As for the currency mining process, it is a complex algorithmic transaction that requires specialized devices. This aims to preserve its price value, and it should be noted that large quantities of it are not produced to protect it from inflation. As in the event of an increase in the number of digital currencies offered, this contributes to a decrease in the prices of digital currencies. Therefore, the amount offered is reduced every year.

Start trading digital currencies

Trading digital currencies of any kind requires traders to open an electronic wallet for that, which is an electronic application that is downloaded on smart phones, and the digital currencies that the trader buys are placed in this wallet, and it mainly aims to facilitate the use of these currencies at a time, And that is by sending, receiving, and exchanging them smoothly, in addition to that, the trader must create his own account on one of the digital currency trading platforms to start with that, and follow the digital currency market.

A beginner trader may feel confused about choosing the best of these platforms; However, there are many websites, such as the ArabCryptoCap website, that show the most important of these platforms and ways to deal with them, in addition to many educational articles that can be used to achieve the best possible benefit when entering the trading market.

The most important digital currencies

There are many digital currencies that can fall under this list; Where traders search for their prices to monitor the buying and selling movement and make the best decision in that regard, and the most important of these currencies are:

Ethereum

This currency is considered one of the most demanded currencies, especially among traders wishing to store digital currencies, and this is due to the fact that Ethereum is not just a digital currency, but rather the second largest trading platform in the world, and this currency is also distinguished as one of the currencies which are growing steadily; However, it should be noted that to start storing it, you need to have at least 32 units of Ethereum.

Bitcoin Bitcoin

Bitcoin, which is symbolized by the symbol BTC, is the first currency in the world among digital currencies, not only in terms of its status and price value, but also in its history. They are the first currencies to appear, and these factors contributed to making a large number of investors in this sector turn to them, and they can be stored by relying on digital wallets and trading platforms, and despite being an opportunity to obtain profits, one should beware of the price fluctuations that they witness, and by returning to the world of The Internet is the most searched on search engines, as many people tend to search for its price against other currencies, for example, it is possible to search for the price of Bitcoin against the Saudi riyal, the US dollar or other currencies.

Binance

This currency is one of the digital currencies that maintained the rise in its price value slowly and steadily, and this currency follows the Binance platform for digital currency trading, and it is one of the modern currencies, and it appeared for the first time in July 2017, and this currency is one of the investment options that are least exposed to risks The volatility in price, and the most stable, which makes it one of the best investment options.

Tezos coin 

This currency is symbolized by the symbol XTZ, and it is one of the modern currencies; As it appeared for the first time in 2018, and achieved a great spread due to its strong start, as it initially allowed investors to store the currency while obtaining annual profits ranging between 5 and 6%.