How do novices in the currency circle enter the currency circle? First, choose a reliable exchange; second, register and verify the account; then, buy cryptocurrencies; and finally, store and manage cryptocurrencies. Specific steps include: 1. Select a safe, liquidity, good user experience and low fees; 2. Register an account on the exchange's official website and complete email and identity verification; 3. Purchase cryptocurrencies through bank transfer, credit card or P2P transactions; 4. Use an exchange account or cold account to store cryptocurrencies and ensure security through strong passwords, two-factor authentication and regular inspections.

The most complete guide to the cryptocurrency circle

Entering the currency circle can be a challenging task for beginners. This article aims to provide a detailed and comprehensive guide for novices in the currency circle to help you gradually master the basic knowledge and operation skills of the currency circle from scratch.

What is cryptocurrency?

Cryptocurrency, also known as digital currency, is a virtual currency based on blockchain technology. The most famous cryptocurrency is Bitcoin, in addition to Ethereum, Litecoin, etc. Cryptocurrency transactions do not rely on traditional financial institutions, but are conducted through a peer-to-peer network.

Cryptocurrencies include decentralization, anonymity and immutability. These characteristics have made cryptocurrencies rapidly popular around the world and become an emerging method of investment and payment.

Other mainstream Bitcoin exchanges in 2025:

Ouyi okx:

Binance binance:

Huobi:

How to choose a cryptocurrency exchange?

Choosing a reliable cryptocurrency exchange is the first step to entering the currency circle. A good exchange should have the following characteristics:

• Security: Exchanges must have strong security measures to protect users’ funds and personal information.
• Liquidity: Highly liquid exchanges can allow you to buy and sell cryptocurrencies faster and have less price volatility.
• User experience: A friendly interface and easy-to-operate exchange can make it easier for novices to get started.
• Fees: Exchanges with lower transaction fees and cash withdrawal fees can help you save costs.

Some well-known cryptocurrencies are traded by Binance, Huobi, and Coinbase. When choosing an exchange, you can refer to other users’ evaluations and professional evaluation reports.

How to register and verify a trading account?

Registering and verifying trading accounts is a necessary step to enter the currency circle. The following are the detailed operation steps:

• Select an exchange: Choose an exchange that suits you according to the criteria mentioned above.
• Register an account: Enter the exchange's official website, click the "Register" button, and fill in your email address and password.
• Verify email: Open your email address, find the verification email sent by the exchange, and click the link in it to complete email verification.
• Identity authentication: Most exchanges require users to perform identity verification (KYC), and you need to upload your ID (such as ID card, passport, etc.) and take selfies. Ensure that the uploaded files are clear and comply with the exchange's requirements.
• Waiting for review: After submitting verification materials, wait for review by the exchange. After the review is approved, you can start trading.

How to buy cryptocurrency?

There are several ways to buy cryptocurrencies:

• Bank Transfer: Transfer funds from your bank account to the exchange and use these funds to purchase cryptocurrencies.
• Credit Card/Debit Card: Buy cryptocurrencies on exchanges directly using a credit or debit card. This method is convenient and fast, but is usually expensive.
• P2P trading: Through the exchange's P2P platform, conduct peer-to-peer transactions with other users. This method can provide more payment options, but attention should be paid to the security of the transaction.

Here are the detailed steps to purchase cryptocurrencies using bank transfer:

• Log in to the exchange: Use your account to log in to the exchange.
• Recharge funds: Click the "Recharge" button, select bank transfer as the recharge method, and follow the prompts to complete the transfer of funds.
• Purchase cryptocurrency: After the funds arrive, enter the transaction page, select the cryptocurrency you want to purchase, enter the purchase quantity, and confirm the transaction.

How to store cryptocurrencies?

There are two main ways to store cryptocurrencies: exchange accounts and cold accounts.

• Exchange Account: Most exchanges provide account services for users, making it easier for users to store and manage cryptocurrencies within the exchange. This method is convenient and fast, but it is relatively low in safety.
• Cold Account: A cold account is a way to store cryptocurrencies offline, usually in the form of a hardware account or a paper account. Cold accounts are more secure and suitable for long-term storage of large amounts of cryptocurrencies.

When choosing storage methods, you need to make choices based on your needs and security considerations. If you trade frequently, an exchange account may be more suitable for you; if you want to store cryptocurrencies for a long time, a cold account is a safer option.

How to conduct cryptocurrency trading?

There are several main ways to conduct cryptocurrency transactions:

• Spot trading: Buying and selling existing cryptocurrencies, the transaction price is determined by market supply and demand.
• Contract trading: Leveraged trading through trading contracts can amplify profits or losses.
• Mining: Participate in the blockchain network through computing power and receive new cryptocurrencies as rewards.

Here are the detailed steps for conducting spot trading:

• Select a trading pair: Go to the trading page and select the currency pair you want to trade (such as BTC/USDT).
• Place an order: Select Buy or Sell, enter the transaction quantity and price, and then click the "Order" button.
• Confirm the transaction: The exchange will display your order details. After confirming that, the transaction will be completed.

How to manage and protect your cryptocurrency?

Managing and protecting your cryptocurrency is crucial, here are some suggestions:

• Use a strong password: Set a strong password for your exchange account and account and change your password regularly.
• Enable two-factor authentication: Most exchanges and accounts support two-factor authentication (2FA), enabling this feature can increase the security of your account.
• Backup private key: If you are using a cold account, be sure to back up your private key and store it in a safe place.
• Regularly check your account: Regularly check your exchange account and account to ensure there are no abnormal activities.

FAQ

Q1: What is blockchain technology?

Blockchain technology is a distributed ledger technology that ensures the security and immutability of data through encryption and consensus mechanisms. Each block contains a set of transaction data and is linked together through cryptography to form a chain. Blockchain technology is the basis of cryptocurrency and many other applications.

Q2: How legal is cryptocurrency?

The legitimacy of cryptocurrencies varies by country and region. Some countries are open to cryptocurrencies and allow them to trade and use freely; while others have strict restrictions on cryptocurrencies and even prohibit their use. Before conducting cryptocurrency transactions, it is recommended to understand the relevant laws and regulations in your region.

Q3: How to avoid cryptocurrency scams?

Avoiding cryptocurrency fraud requires being vigilant and taking the following measures:

• Verification information: Verify the other party's identity and transaction information before conducting any transaction.
• Don’t trust high returns promises: Any investment that promises high returns may be risky, so be cautious.
• Use a trusted platform: Transactions only on trusted exchanges and platforms, avoiding uncertified websites and applications.

Q4: How to deal with volatility in the cryptocurrency market?

The cryptocurrency market is volatile, and the following strategies are required to deal with market fluctuations:

• Diversified investment: Spread funds into different types of cryptocurrencies to reduce risks.
• Set the stop loss point: When trading, set the stop loss point to control potential losses.
• Stay calm: Don’t be influenced by market sentiment and make decisions based on your investment strategy and risk tolerance.

The above is the detailed content of Tutorial on the nanny level of the currency circle, the most complete novice guide on the crypto circle. For more information, please follow other related articles on the PHP Chinese website!