Tens of billions of euros are traded daily in cryptocurrencies and this increases annually by tens of billions. In short, there is much and more traded in these coins. Where should you pay attention when you start acting yourself?

Read about cryptocurrencies and the associated opportunities and risks
First of all it's important that you understand what you're going to trade in. So it's recommended to learn basic information about cryptocurrencies so you know what it actually means. On Bitcoin Kahuna you can find under the heading 'crypto basics' enough information to help you get started. It was probably already clear to you there are risks associated with trading cryptocurrencies. The value of the coins is variable. You can make money fast, but you can also lose money quickly.

Start at a Broker
After you've decided to start trading in crypto choose a reliable crypto currency broker and register yourself. Brokers offer the most convenience for novice traders. They enable you to exchange Euros to bitcoin (or other crypto coins) and back to Euros in an easy and fast way. They also offer an easy way to store your purchase in an online wallet so you don't have to organize this yourself. It is important you use a reliable broker with a good helpdesk that you can also contact by phone.

Of course it is nice to have low trade fees but it is even more important you use a reliable the broker that let's you easily dispose of your money. Since the end of May 2020 all crypto parties in the Netherlands must register their services at De Nederlandsche Bank (DNB). In doing so, they must meet all kinds of strict requirements. This will help increase the reliability of the parties. The Dutch brokers and exchanges shown on Bitcoin Kahuna are all registered or are in the process of getting registered.

After you register with a Crypto broker you are ready to start trading in Bitcoin and many other cryptocurrencies! Investigate the crypto coins in which you are interested in and try to find some basic trading principles so you can minimize the risk.

Once you have purchased a certain currency it will appear in your wallet in which you can store many cryptocurrencies. The value of the cryptocurrency is constantly changing and you will have to think about a trading strategy.

Once you get used to trading in these coins you can consider using an exchange. Especially with very frequent trading, fees can care and you get extra functionalities offered (more info: what is the difference between a broker and an exchange. However, a large proportion of traders usually continue to use the broker they started out with due to confidence, ease of use and the fact that the rates of brokers are becoming lower.

Additional resources
Doing your own research is important. Here are some standard sources:

  • Coinmarketcap.com
    This is a popular overview site on which all price changes and market sizes are tracked of cryptocurrencies. So you can search for specific coins and find data over long periods. Conveniently, you get an overview of the most popular coins worldwide. You can also often view these statistics at a broker or an exchange, but it does not have the data of all coins.
  • Crypto coin's website
    Each currency has it's own website on which the developers keep track of the road map and share the whitepaper. Usually you can read about future plans of the currency and whether major updates are coming. Whitepapers can be quite complicated, but after reading a few pages it should be clear what the project is all about (more info: what is cryptocurrency).
  • Online Resources
    There are many websites and blogs you can consult, including the Dutch bitcoinmagazine.nl or for example Coindesk.com or Cointelegraph.com.
  • Chat groups
    Many coins feature chat groups on social media platforms, for example Telegram. In these groups people who are interested in the currency or have invested in it come together to share thoughts.
  • Github.com
    This is usually a bit more specialized and more specific information. Developers of currencies update their progress on this platform, so you can see how actively a developer team is working on your coin.