A cryptocurrency is a digital currency or asset that works online as a medium of exchange to manage financial transactions. It has the potential to exchange values in an accessible, affordable, reliable, and universal manner. Cryptocurrencies use strong cryptography to validate the asset transfer and secure transactions.
The cryptocurrencies are decentralized systems, built upon the blockchain technology. Cryptocurrencies make the fund transfer simpler as it does not require any involvement of government or other trusted third parties such as banks. And, the commercial value of cryptocurrencies derives from supply and demand.
How to buy, sell, and store cryptocurrencies?
There are around 3000 crypto assets in dissemination. And when it comes to cryptocurrency trading, the bitcoin and ethereum overtake the other crypto assets. Unicoin DCX mainly supports the following digital currencies for trading - Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Unicoin DCX offers a safe and secure way of trading cryptocurrencies. Here are the steps you can follow to buy, sell, or store cryptocurrencies.
1. Registration with Unicoin DCX
To get started, you have to register with Unicoin and create an account. The clients and brokers can register with the relevant details such as Sub Type, Name, country, and mobile number.
2. Identity verification
As soon the account is created, verification of your identity is processed to avoid fraudulence and ensure compliance. It requires a photo identity proof for verification and authentication.
3. Download platform
You can download the Unicoin DCX Trader application on your phone to trade with cryptocurrencies in the financial market.
4. Add Payment method or Link Bank Account
Our trading platform enables the traders to purchase or sell the cryptocurrencies with fiat currencies or any other available altcoins. You can link your bank account or prefer any of the payment methods like bank transfer, debit cards, credit cards, or by converting the cryptocurrency to Ringgit and USD for buying or selling cryptocurrencies.
5. Buy and Sell Cryptocurrencies
You can buy and sell cryptocurrencies at any time as the crypto market never closes. Unicoin DCX Trader has a user-friendly interface so that the users can easily change among the buy and sell options. It enables users to choose the coin type, wallet, and payment method. The application displays real-time price feed and market information of the supported cryptocurrencies to stay updated on price fluctuations.
You can also buy or sell the cryptocurrencies by fractions. The system displays the amount or fraction of coins you get with the money you are going to spend. But before buying cryptocurrencies, it is essential to get a wallet to store the coins securely and conveniently.
6. Storing Cryptocurrencies
The cryptocurrencies can be stored securely using cryptocurrency wallets. You will need to have a cryptocurrency wallet to store and access your cryptocurrencies. Most of the cryptocurrencies have wallets of their own (e.g., Bitcoin - Bitcoin Core Wallet, Ethereum - Ethereum Wallet, etc.). However, the wallets will be any of these types - Software wallets, Hardware wallets, or Paper wallets. The security level of cryptocurrencies is based on the wallet you use.
Every crypto wallet will have a public and private key to unlock funds. The public keys can be an individual’s bank account, whereas the private key is its secret pin. The public key is connected to a cryptocurrency address cryptographically and helps to receive funds. The private key generates distinctive digital signatures for each transaction to confirm the authenticity of the public key. The cryptocurrencies stored in a wallet can be accessed only via the secure private key.