Step 19 – Exchange Cryptocurrency with a Centralized Exchange
Over the years, I have received countless calls from friends or acquaintances who have had problems after trading or buying or selling a cryptocurrency, property, car, or other goods or services, or after starting a business. Often, we give up on many purchases or sales due to lack of knowledge or, unfortunately, we make the wrong purchase or sale! At best, we trust a seller who we think must have the necessary expertise in the product or service we are looking for, and in the end, we will see that we still did not achieve the desired result! When it comes to starting a business or startup, the situation is even worse than I described!
In any case, we are the main culprits! Most people, have not learned to get training or consult a specialist or consultant on any specialized matter, and before losing millions and billions of tomans or even dollars, with a free friendly consultation or even a professional consultation at a reasonable cost, prevent all future losses and step on the right path to profitability. I also made these mistakes in this same society when I did not have enough experience or knowledge or when I did not consult a specialist.
There are two paths to success: 1. Have what you need, or 2. Get it from others. The second path requires humility. The best way is to have both.
To put it bluntly, most people like to discover the right path or the right thing “their own,” even if this path has been tried and tested by others for years! Perhaps they want no other person to be the reason for their success and to say to future generations, “ I got here on my own .” “ I ” or “ myself ” means that no human being, organization, society, or infrastructure was involved in this person’s success. This issue has sociological roots that are beyond our discussion, but I will suffice with this quote from Arnold Schwarzenegger (world bodybuilding champion, popular Hollywood actor (Terminator films), former governor of California, USA, and one of the 100 most influential people in the world according to Time magazine) who said:
I came here with absolutely nothing. On Thanksgiving, the gym's bodybuilders came to my apartment and brought me pillows, dishes, and everything I didn't have. None of us can make it alone. Call me whatever you want, but don't ever call me "self-made." Without help, I would never have made it in life.
All of this has given me the motivation, social responsibility, and mission to design a path for you, my dears, that I believe anyone who wants to step into the world of the digital currency market, or more accurately, the cryptocurrency market , needs. In addition to the free 21steps on this website, by purchasing and studying the 21 Steps to Digital Currency Education online course at the Cryptomentor Cryptocurrency and Blockchain Education Academy , you will be prepared to:
Enter the financial markets, especially the cryptocurrency market, safely and independently and make money from it .
You will learn how to research and find sources for further study on the issues mentioned in these 21 steps. (I always try to include other educational and important news materials for you, my dears, on the website in addition to the 21steps.)
Participate in any specialized training course you desire in the field of investing or trading in financial markets, especially the cryptocurrency market, and with sufficient mastery , make the most of the teachings of your mentors and professors .
Write a written plan , or your trading and investment strategy, and implement it .
So let’s get started quickly and answer the basic questions in setting up a successful trading and investing strategy in the cryptocurrency market . I will be there as a mentor and guide you through all these steps . At the end of each step, and at the bottom of each page, you can ask your opinion or question or contact me directly.
Blockchain is a decentralized digital notebook (ledger) storing data securely across networks, enabling trustless transactions and transparent record-keeping.
Bitcoin is a decentralized cryptocurrency; digital currencies are electronic money, while cryptocurrencies use blockchain for secure, peer-to-peer transactions.
Tokenomics studies a crypto token’s supply, demand, utility, incentives, and distribution to assess its long-term sustainability and value.
Crypto prices fluctuate based on token supply, user demand, scarcity, and market psychology—core economic forces in action.
Technical analysis uses price charts, indicators, and patterns to predict future crypto movements and trading opportunities.
Trendlines connect price highs or lows to visualize market direction, helping traders identify bullish or bearish momentum.
Support is a price floor; resistance is a ceiling. These levels help predict reversals or breakouts in crypto charts.
Entry signals suggest optimal buying points using price action breakouts, indicators like RSI, MACD, or candlestick patterns for timing trades.
Crypto portfolio management involves asset allocation, diversification, rebalancing, and strategy to optimize returns and reduce risk.
Risk management sets stop-loss and take-profit levels to protect capital and lock gains during crypto market volatility.
Crypto wallets store private keys securely. Security includes encryption, backups, and avoiding phishing or malware threats.
To receive crypto, share your wallet address. Funds are transferred securely via blockchain to your digital wallet.
Crypto transfers use blockchain networks like Ethereum or Bitcoin, with fees paid to miners or validators for processing.
Wallet recovery uses a seed phrase. Losing it means losing access—always back it up securely and offline.
Sign up on an exchange, complete identity verification (KYC) to comply with regulations and unlock trading features.
Centralized exchanges let users send their digital assets to the exchanges’ custodial wallets, and vice versa.
Order types include market, limit, stop-loss, and OCO—each controls how and when trades execute based on price.
Swapping exchanges one crypto for another instantly, often using decentralized platforms or built-in wallet features.
Throughout your 21steps free crypto journey, I wish profitability for all of you in investing or trading in financial markets, especially in the cryptocurrency market.
