What to know before you start buying and selling cryptocurrency?

Are you curious about the crypto world? Do you want to start working on it yourself? It sounds like an exciting idea, but it’s not always enough. First, you need to learn some basics that will guide you on the right path. Don’t despair. We are happy to share them with you!

Why are you doing this?

When discussing cryptocurrency, the English abbreviation FOMO – Fear of missing out is often used. Since cryptocurrency is very popular in almost every corner of the world despite its young age, it often happens that people just run headlong into it. In this way, one does not get to understand the basics of the field or realise why it is being done at all.

Due to the open nature and decentralisation of cryptocurrency, it is predicted that it will influence many fields. Blockchain technology can already be used in everything from banking to medicine to art. Also appealing to many is the fact that, for example, Bitcoin and Ethereum have a fixed number and, unlike the regular currency, they cannot be printed ad infinitum.

Timing is the key!

Cryptocurrency can be bought and sold 24 hours a day, 7 days a week. This means that the price can rise, fall or do both in one day, even by hundreds or thousands of euros. Also, cryptocurrency (due to its open nature) is subject to more significant fluctuations, as the market is only regulated by supply and demand. So it is recommended to observe market fluctuations before making your first purchase or sale.

Assess the risks and use a trusted partner

Care must be taken in any emerging field, including buying and selling cryptocurrency. There are more than 18,000 different cryptocurrencies, including both serious ones and those created on dishonest foundations. Bitcoin and Ethereum are arguably the most well-known and safest. If you want to start buying and selling cryptocurrency, it makes sense to start with them.

Due to its open nature, anyone can buy and sell cryptocurrency. Therefore, choosing a reliable partner whose involvement and mediation can mitigate various risks is recommended. Fortunately, you don’t have to look far for a reliable partner because the Estonian company Bitnomics has been operating in the field for over two and a half years and, in that time, has managed to serve over 17,000 customers.

The main advantage of using Bitnomics is that the company follows all the rules and regulations related to buying and selling Estonian cryptocurrency. In addition, there is the multilingual customer support that can be contacted quickly through various platforms in case of questions.

Risk disclosure

You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. The exchange of digital currency is considered a risky transaction with highly speculative outcomes. Bitnomics does not guarantee any profit from any activity associated with its services.

  • You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. You confirm that you understand and agree that the risks associated with the Services are acceptable by you, taking into account your objectives and financial capabilities.
  • You acknowledge that purchasing or selling Cryptocurrency carry significant risk. Prices can fluctuate on any given day. Because of such fluctuations, Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.
  • You should carefully consider if holding digital currency is suitable for you depending on your financial circumstances. Dealing and exchanging in cryptocurrencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks.
  • Your virtual assets may be lost by losing your password, private key or other security code. Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies are autonomous and largely unregulated system of firms and individuals issuing currencies. The risk of loss in buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether exchanging virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis. Bitnomics uses payment providers for transfers of fiat money for rendering exchange services and operating with the fiat money, whereas assisting banks do not, by any means, represent a medium of exchange, transfer, withdrawal, deposit or other transaction in connection to virtual currencies.
  • You acknowledge and agree that Bitnomics does not act as a financial advisor, does not provide investment advice services or guidance, and any communication between you and Bitnomics cannot be considered as an investment advice. Without prejudice to our foregoing obligations, in asking us to enter into any transaction, you represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have sufficient knowledge, market sophistication and experience to make your own evaluation of the merits and risks of any transaction and that you received professional advice thereon. We give you no warranty as to the suitability of the Services and assume no fiduciary duty in our relations with you. We may provide information on the price, range, volatility of digital currency and events that have affected the price of digital currency, but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell digital currency is your exclusive decision at your own risk and Bitnomics will not be liable for any loss suffered.
  • To the full extent permitted by the applicable law, you hereby agree to indemnify Bitnomics and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our website, your use of the service or from your violation of our terms and conditions.
  • Bitnomics is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Bitnomics may, at its discretion and in addition to any other right and remedy, suspend the Services. Bitnomics will not be liable for any loss suffered by you resulting from such action. Following any such event, when Services resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
  • Internet transmission risks. Client acknowledges that there are risks associated with using the Software and Services including, but not limited to, the failure of hardware, software, and internet connections. Client acknowledges that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays client may experience when using the Software and Services, howsoever caused.