Dec 15, · Investing in Bitcoin can seem complicated, but it is much easier when you break it down into steps. Buying Bitcoin is getting easier by the day and the . Let’s get started learning how to trade bitcoin! Bitcoin trading is actually pretty straightforward once you get the hang of it. Being the premier cryptocurrency, it is pretty straightforward to buy and sell them as and when you want to. Bitcoin has a history of volatility which has brought in a lot of traders and media interest into the ecosystem. Jul 29, · The first step to get started trading bitcoin is choosing a reliable platform. When starting out with bitcoin trading, we recommend that you opt for a user-friendly, regulated broker such as eToro.
How to get into bitcoin tradingHow To Get Into Bitcoin Trading - CryptingLives
You can select any one among them. Just buy some bitcoins from a cryptocurrency exchange and then send it to the wallet which is in your trading platform. Now you can head over to the trading engine and you can begin trading with the help of the tools and charts to execute better trades. This will help you cut out your losses.
You can start by investing in higher volumes. Gather more knowledge about how profitable trades are executed. Practice for a while and understand the crucial concepts of trading to make good profits. If you have any question regarding how to get into bitcoin trading. You can ask them in the comments below. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email.
Share Tweet Pin 1 shares. Leave a Reply Cancel reply Your email address will not be published. Categories Bitcoin Cryptocurrency Unobtanium Vertcoin. Bitcoin trading is actually pretty straightforward once you get the hang of it. Being the premier cryptocurrency , it is pretty straightforward to buy and sell them as and when you want to.
Bitcoin has a history of volatility which has brought in a lot of traders and media interest into the ecosystem. It is extremely easy for anyone to trade Bitcoin as the barrier for entry is so low.
So, how do you get your slice of the pie? Well, this guide will help you make your trading decisions. The reason why you should invest in Bitcoin, and cryptocurrencies in general, is because there is nothing quite like it. There are several features that makes Bitcoin trading both exciting and unique. Binance Jersey allows users to trade euros and British pounds with bitcoin and ethereum and access digital asset management services.
Quite similarly, Australian markets lost USD 30 billion. However, Bitcoin was a whole different story. From all these three cases, we can make one simple and obvious conclusion. People have a tendency to invest in Bitcoin when faced with unstable markets and obstacles confronting fiat currencies. Unlike stock markets, Bitcoin is open 24X7. The reason being stock markets are specific to the country they operate in and usually reflect the working hours of that country.
Anyone can purchase bitcoin on most of the exchanges. Bitcoin and cryptocurrencies, in general, are infamous for its rapid and frequent price movements. This volatility can help traders make an easy, quick buck.
Before you invest in an asset, you should at least know how it works. We have covered the mechanics behind the crypto several times here in detail.
However, for the uninitiated, we will give a brief overview. If you are already aware of the mechanics, then please skip to the next section. The blockchain is a time-stamped series of an immutable record of data that is managed by a cluster of computers not owned by any single entity.
Each of these blocks of data i. Ok, so what does that mean in simple terms? Imagine a universal ledger that anyone can download and write into. Anybody who has a copy of that ledger can:. That is what Bitcoin gave to us, the first proper implementation of a technology that can act as an immutable and transparent ledger. This innovation gives us a system that is completely incorruptible and free from human corruption since each and every transaction made into the blockchain can be checked.
Through public key cryptography. Every Bitcoin user has a private key and a public address that are both mathematically derived from each other.
So, how does it work? It is actually pretty straightforward. The public address is like your account number and the private key is like your PIN code When you receive Bitcoins, people will send it to your public address.
You can then send your Bitcoins to anyone via your private key. So, going by that explanation, we can make two observations:. This should give you a brief idea of what Bitcoin is and how it works.
This is the reason why Bitcoin has become such a big deal. The exchange serves as one of the most critical functions in the crypto ecosystem. It acts as a portal between the Fiat world and the crypto world.
A cryptocurrency exchange is similar to a stock exchange, but with a focus on cryptocurrency tokens rather than stock trades. Put simply, a crypto exchange is a platform where customers can buy and sell cryptocurrency assets.
Broadly speaking, there are two forms of crypto exchanges:. Fiat to Crypto exchanges helps you buy Cryptocurrencies in exchange for Fiat money. These exchanges have been designed to be as beginner-friendly as possible. Kraken and Coinbase and Bitbuy are perfect examples of fiat-to-crypto exchanges.
Binance is a fine example of a crypto-to-crypto exchange. These are the exchanges that are geared more towards the experienced traders than the beginners. Crypto exchanges deal with an insane amount of money on a daily basis. In fact, check out how much the top 5 exchanges ranked according to transaction volume in the last 24 hours measure up:.
So, where exactly do you get started? If you are Canadian then the answer is pretty straightforward. Bitbuy is a Canadian owned and operated digital currency platform. Founded in , Bitbuy has consistently provided Canadians with a dependable and trustworthy platform to buy and sell their cryptocurrencies. As already explained, Bitbuy was a fiat-to-crypto exchange where you can deposit Canadian dollars directly onto their website, to be exchanged for digital currency. Their headquarters are located in Toronto, Ontario and their services are available for Canadian traders across the country.
Another interesting feature of Bitbuy is that there are no fees for withdrawing your cryptocurrency. You can send your crypto to a private wallet , free of charge.
This makes it ideal for long-term investors who want to hodl on to their cryptocurrency. Your first-time purchases will be held for one to three business days for security reasons. If you have a verified account and have made more than three transactions on Bitbuy, your funds will be available in real-time.
If you are American then the answer is pretty straightforward. Kraken allows users to fund their accounts in Canadian dollars and has several Canadian dollar trading pairs. Kraken operates a small office in Halifax, Nova Scotia, that handles their Canadian operations and support. Kraken has limited funding options compared to other Canadian exchanges. Currently, the only way to deposit Canadian dollars onto Kraken is by bank wire, meaning you will need to physically travel to your bank and process a wire transfer in order to use the service.
Certainly not the most convenient funding method, but if you are willing to complete the process, Kraken is a good platform to use for advanced features.
Maybe their best feature, Kraken allows users to margin trade, meaning users can borrow funds to buy digital assets. This is an advanced tactic that can be tricky, but it can profitable if you know what you are doing.
Kraken also offers discounts to high volume traders, something not many other exchanges offer. Although Kraken offers some of the best feature sets and a selection of many altcoins, it suffers from a lack of popularity in Canada. Some of the CAD pairings that they offer have low trading volume, meaning if you are planning on buying a large amount, you may encounter price slippage and pay a higher price than you would have hoped for your digital currency.
Kraken benefits from being a top international exchange and has good support as well as constant upgrades. The moment you become a verified member, you are entitled to use any payment method you want to fund your Bitbuy account. For verfiication, you will need to submit the required KYC details.
The documents you must submit are:. The entire verification process usually takes between one to three business days.
Bitbuy also has very prompt customer support. You can do the following to receive support on your query:. Bitbuy is a division of First Ledger Corp, which is a Toronto based blockchain and digital currency company. They have stated that the exchange complies with all Canadian laws.