how to start trading bitcoin: Bitcoin trading

how to start trading bitcoin: Bitcoin trading

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how to start trading bitcoin 

Hay, after we learned in the previous topic, what is cryptocurrencies , now we will learn how to start trading in bitcoin .

how to start trading bitcoin
how to start trading bitcoin

Our complete guide to bitcoin trading will explain below, everything you need to know about how to get started such as how to choose the optimal trading platform , deposit and open trades by the end of this guide, you will be able to trade bitcoin with confidence .


 What is Bitcoin currency

 Bitcoin can be traded on the open market, and is not controlled by any central government, eg decisions made by the US The Reserve has a noticeable impact on the value of the dollar.

 But bitcoin is not affected by the decisions of any central bank, and this is part of the appeal of bitcoin, investing in bitcoin is the process of speculation on the left of bitcoin in order to make a profit, as opposed to just buying and holding shares.

 When you trade bitcoin, you adhere to a few different criteria. 

Why you should trade bitcoin

 Bitcoin attracts many business Men, because its volatility provides the possibility of making imaginary profits, and of course this volatility also provides the possibility of losses at the same time..

if you want to trade bitcoin, it is important to educate yourself about the cryptocurrency market and make sure I assess your risk tolerance. 

Is how to trade bitcoin similar to forex trading

 Bitcoin is a digital currency So investors and traders may think of them, in terms of the foreign exchange market or forex broker. For a newbie, you are just ordering or selling bitcoin for the purpose of looking for price action.

 Thus you have no intention of using it as a currency, you look at the original only through the lens of the parallel market movement of the foreign exchange market, you can always start investing and speculating in the digital currency via the global finance platform. 

 How to invest in bitcoin

The answer to the question of how to invest in bitcoin and other cryptocurrencies may seem complicated, but it is much easier when the process is broken down into 3 steps.

  Step 1: choose a trading platform to be able to trade bitcoin or any other digital currency you will need a strong and reputable platform, platforms such as:

  1. NSFX
  2.  Binance
  3.  Coinbase
  4. Huobi Global
  5. Kucoin

 Are powerful and stable platforms that enable you to invest not only in bitcoin. But in other more well-known cryptocurrencies such as Rim, Queen's State, Erbil, bitcoin cash and others. 

 Step 2: open a trading account, after choosing a trading forex broker you have to register and choose the type of account you would like to trade through, which suits their own requirements when opening a real trading account.

 You must go through three simple and easy steps, namely : 

  •  Fill in the account opening form.
  •   Proof of identity and account activation.
  •   Finance the account by deposit via Visa card or bank transfer. 

Step 3: open the first trade. You then download the trading platform onto the device used to trade whether it is a computer, or a phone. 

After that you can start trading bitcoin and the rest of the digital currencies supported by the broker you have chosen.

before you start trading we advise you to watch the steps to invest in digital currencies we will talk about them in the next article.

What factors affect the price of bitcoin

While bitcoin's volatility makes this virtual currency an attractive opportunity to trade, it at the same time makes it a risky market to speculate in.

Bitcoin prices can change dramatically and suddenly, and since the bitcoin market is running around the clock, it can happen at any time of the day. 

Fluctuations in bitcoin prices contain a number of factors, including:

  • Technological progress.
  • Negative press material.
  • Market value.
  • The show.
  • Main events.

Market value: both the value of the bitcoin market, how the currency is perceived as valuable to customers and whether they look to buy it once the opportunity arises or sell it at full speed.

Negative press materials: all currencies are affected by public opinion, but bitcoin is considered the most affected currency, as the age of this virtual currency, its value and security are questioned even in the good times in the life of bitcoin.

Technological progress: characterization of bitcoin and trust in traditional currencies will depend on the integration of bitcoin into new payment systems, crowdfunding platforms and others.

Major events: any major event will have significant implications for the virtual currency, including regulatory changes, security vulnerabilities, macroeconomic reversals and more.

Conclusion

Before you invest in bitcoin, track prices here! This way you always know when to buy and when to sell if you want to make a profit, and which exchange platforms offer the best offers.

Whether you want to buy, trade, or invest in Bitcoin, keep your coins safe! Search for yourself, find the most suitable method for you and do not fall victim to scams.

If someone tells you that they will send you free coins if you send them some of your coins, This is a scam. You can find more information through articles on the marketing manager website.

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