If you are interested in trading PIVX, you have to know some basic information before going ahead and doing so. This guide will cover everything you need to know, from how to trade PIVX to which broker to use to background information about the coin.
What Is PIVX?
The name PIVX comes from “Protected Instant Verified Transaction”. This is a cryptocurrency that aims to overcome many of the challenges of other cryptocurrencies as well as those of fiat.
PIVX delivers a high level of financial user data protection, thanks to SHIELD, a privacy protocol based on zk-SNARKs. The cryptocurrency uses Proof of Stake as its consensus algorithm. This reduces its environmental footprint dramatically and encourages participation.
PIVX also prides itself on fast transactions, including researching new mechanisms to achieve them. It has a decentralized governance system that sits on a Masternodes network’s second tier.
This cryptocurrency is also designed to be easy to use, including its platform and wallet.
Why Not to Trade in PIVX? Why Trade PIVX?
Before learning how you can trade PIVX, you need to decide whether you want to trade it at all.
The cryptocurrency is widely available, meaning that you will have your options on how to trade your PIVX. The fact that there is a circulating supply of 65.2 million PIVX also means that it is fairly liquid. As such, you should be able to buy and sell it when you want to. It is also highly affordable, with a price of $1.19 at the time of writing.
Some people may argue that you don’t need to know how you trade PIVX as you should not bother with it. These people argue that there are other similar coins in existence with a similar goal.
The counterargument for this would be that PIVX is well-developed, with a lot of technical documentation available. The team has also already developed wallets and other features. These are all indications that you can learn how to trade PIVX and make money.
PIVX Trading Vs. Investing
As you wonder, “Should I trade PIVX?” you may also want to consider investing in it. The big difference between the two approaches is your overall strategy and how long you hold the PIVX. It comes down to whether you want to hold or trade PIVX. Holding it is typically seen as an investment while trading it is more active.
This depends on your preference and predictions for the future of PIVX. If you think the coin will continue to increase in value, you can simply buy it and not sell PIVX any time soon.
If you expect it to go up and down and want to make as much as you can from PIVX, actively trading it may be the better approach. Active traders may want to find where to day trade PIVX.
Remember that as a cryptocurrency, you can trade PIVX 24/7.
Where to Trade PIVX?
There are many answers to where to trade PIVX, as it is available on several broker apps and exchanges. You can choose whether you prefer a crypto broker or an exchange. PIVX crypto traders looking for ease of use and simplicity will typically want to go with a broker instead of an exchange.
PIVX Crypto Broker App
As you choose the PIVX trader app you want to use, pay attention to the reputation of the broker and application. Always choose a platform with a strong reputation. Remember that it does not necessarily have to be well-established as long as it has good reviews and no major scandals.
For many people, a broker app is the best way to trade PIVX because of the convenience. These apps are designed to be highly intuitive, making it quick and easy to trade PIVX.
How to Trade PIVX Using the 7b Crypto Broker App?
When you are ready to trade PIVX, consider using the 7b crypto broker app. It is easy to use and among the fastest ways to trade PIVX.
- If you don’t already have a 7b crypto broker account, you can sign up in minutes.
- Deposit your PIVX or another cryptocurrency if you haven’t already done so.
- Click on the search bar and enter PIVX.
- Click on the pair you want to trade.
- Click “Buy” or “Sell” under the chart.
- Enter the amount to buy or sell.
- Confirm your transaction and watch the “Success” screen appear.
Is PIVX a good investment?
PIVX can be a good investment. It offers a real solution with Proof of Stake, reducing energy consumption. The team has already completed a fair amount of development, and there is a great deal of potential. That said, all cryptocurrencies come with a risk of losing your investment.
How to trade PIVX for beginners?
Beginners will need to choose a broker or exchange to trade PIVX on, like 7b. From there, you can deposit a cryptocurrency. When you want to buy or sell PIVX, search for it and click on the buttons labeled “Buy” or “Sell.” Enter the transaction amount, click “Trade,” and you are set.