What is Bitcoin ?
Bitcoin is a digital currency that came up in the year 2009. It’s the first cryptocurrency in the world. Although it started a small idea, Bitcoin has revolutionized the world of banking and investment. Today, Bitcoin helps you to complete any transaction without diverting to banks or any other middlemen, offering you total privacy and costless transactions. Over the past decade, Bitcoin has increasingly become popular. Most people prefer Bitcoin for their online transactions such as shopping online and transacting on online casinos. Now, as the demand for Bitcoin arises, so is its value. When bitcoin came up a few years ago, it was worth a few cents. Today, Bitcoin has gained demand, and now it is worth $10000. You can trade Bitcoin with Atecs Capital and join the success!
What is Bitcoin trading?
Bitcoin trading with Atecs Capital encompasses two major aspects; long term, and short term trading. Now, when it comes to this kind of trading, it focuses on the period the traders are willing to hold on to their purchases or assets.
- Traders who focus on long term trading tend to research Bitcoin trends and study their behaviors over an extended period. By doing this, they can identify the best time to buy Bitcoin, and determine how long they will need to hold on their purchases. Thus, this helps the traders to sell the currency when it’s at a higher value than the initial one, creating substantial net profits.
- On the other hand, traders who do short term trading study the Bitcoin development and behaviors closely to determine the quick trends and identify the best time to buy or sell. Bitcoin is volatile. So, a short term trader should have a great oversight over the volatility of this cryptocurrency. Its volatility can create a great opportunity to speculate. The Bitcoin price may shift suddenly or significantly, creating a better chance to buy or sell.
How Bitcoin trading works?
Bitcoin is essentially a computer file that is kept as a digital wallet application on a computer or a smartphone. You can be able to send Bitcoin to your digital wallet or other people. Every transaction carried out by a single user is recorded or stored in a public ledger called blockchain. Therefore, this helps to trace the transaction history of Bitcoin and denying access to people who do not own.
Where do you get Bitcoin?
If you want to own a Bitcoin, where will you get it? Most people get Bitcoins from these main ways. You can purchase Bitcoin using the real money. You can let people pay you using Bitcoin when you sell stuff to them. Bitcoin can be mined from the computer through complex mathematical algorithms. Once you possess a Bitcoin, you can either decide to transact with it online or find the right time to exchange the cryptocurrency for profit.
What are the benefits of using Bitcoin?
- International payment: You can make international payment very easily and cheaply. With Bitcoin being global, you can pay anywhere in the world without government regulations. Hence, making the payments easier, faster, and safer.
- Transparency: this is the focal point of Bitcoin digital currency. Each transaction made is recorded in a public ledger called blockchain. Although the ledger can show the amounts of Bitcoin other people owns, it doesn’t reveal the identity.
- No transaction fees – Bitcoin transaction fees are relatively lower than other forms of transaction, such as debit and credit cards transactions. Even when paying internationally, you receive the exact amount form your recipient.
- Zero inflation risk Bitcoin has no inflation risk. It is finite. It can only be influenced by around 21 million factors coming together. Therefore, this is impossible, hence, zero inflation risk.
- Not complex With banking, you will need to provide a lot of information with a lot of paperwork. With Bitcoin, there is no complex information you are needed, neither any upfront charges.
- Quick payment: Credit and debit cards can take up to 7 days or more to complete a transaction. Bitcoin is quicker. It takes less than two business days to settle the payment.
What are some of the basic bitcoin trading rules for the newbies?
Crypto trading is great and can be very profitable. However, you have to play your cards right. If you are not careful enough, you may make enormous losses and end up misjudging the market. Now, bitcoin essentially relies on movement and patterns in the market across the globe. So, you need to understand the Bitcoin’s value and the fluctuating factors in the market. Here are various useful tips that will help you trade successfully.
- Don’t put all your eggs in one basket Don’t ever invest in one place. Always place your investments in diverse positions that have varying price levels.
- Don’t invest what you cannot afford to lose Crypto trading involves major risks. It’s a two-way thing, you either reap heavily or you lose. So, don’t invest what you can’t lose, such as emergency funds or your children school fees.
- Use all the technological tools available to study the market, Bitcoin currency movement, and trend to mitigate risk.
- Understand the cryptocurrency market properly – You have to stay focus and attentive on what is happening in the market. Be aware of everything happening in the market and do thorough research.
- Don’t be too greedy It’s wise to know when to stop once you are reaping heavily. Don’t be greedy; you may end up losing all your profits. So, always maintain professionalism and don’t let emotions carry you. It will make trading healthier.
Bitcoin trading is a profitable investment you can venture in. Although it’s still a risky venture like most trading platform, you can reap big. So, whether you a long term or a short-term investor, you only need to play your cards right. Study and learn the market well. Don’t be too quick to invest, ensure you completely understand the market movement and patterns. Always be professional and never let emotions drive you. Stay focused, follow markets keenly and ensure you understand how Bitcoin is developing. Once you have all this information, then you are good to go. Ensure you invest wisely and follow the rules to have successful trading.