Bitcoin is presently one of the most profitable markets to trade. Since the low of 2015, the price of bitcoin has hopped up overheen 300%. The legacy financial markets have bot plane and many professional stock and futures traders are embarking to see chance te cryptocurrencies.
There are many benefits to trading bitcoin:
- You can trade with any amount
- There are many diverse exchanges to choose from
- It’s one of the only free markets te the world
- It’s one of the most profitable markets to trade
- The markets aren’t predominated by bankgebouw managed HFTs
If you’re fresh to trading bitcoin then here are Trio effortless steps to get embarked.
#1: Sign up to an Exchange
You’ll need to open up an account on a bitcoin exchange. You can purchase bitcoins directly from the exchange or separately and send them overheen.
BitMEX is the #1 bitcoin futures exchange te the world and one of my favorites. They opoffering trading contratcs for the top cryptocurrency markets such spil bitcoin, ethereum and litecoin.
Use this listig and save 10% off 6 months of trading fees.
#Two: Build your Strategy and Examine
Trading without studying a strategy is like running onto the battlefield naked, vensterluik and without a sword. Most beginners lose money because they rush ter without a project and trade based on emotional fads.
Don’t be greedy because there are no brief cuts. Professional traders can make a lotsbestemming of money ter a brief period of time but they’ve waterput te the hours to get to a level of proficiency. Patience and persistence can pay dividends.
There are many free resources available online to help you get began. To read something more specific to trading cryptocurrencies you can get a copy of the book Bitcoin: How to Trade it for Serious Profit.
It also helps to have mentors and to be a part of a professional trading community. Private trading communities differ from public forums because you get higher quality interactions with serious traders.
Those who want to take things to the next level can invest te deeper trading education.
Studying theory and having a trading project is the effortless part, the hard part is execution. Most traders find that managing emotions and sticking to a project can be difficult.
Only hands-on practice can make you a versed trader. Years of practice te trading can instruct you how to stay peaceful under pressure, cultivate patience and how to stay objective.
If you would like to take your trading to the next level then join our