Bitcoin and Cryptocurrency Trading
It is very important to stay on top of all Bitcoin and cryptocurrency trading information. New developments in the Bitcoin world can affect the market price of Bitcoin as well as other cryptocurrencies, such as Ethereum or Litecoin. Therefore it's crucial that you learn everything there is to know about trading currencies like Bitcoin so that you can be successful and make good investments.
To begin with, we need to understand what cryptocurrencies are and why they exist in the first place so that we can better understand how they function as tradable currency.
What is Cryptocurrency ?
A cryptocurrency is a virtual or digital currency which you can use to trade or exchange for another currency such as the US dollar. When you use cryptocurrencies, you can trade them online or offline to purchase things like home decor, clothes, and food at participating stores.
There are over 14 million Bitcoins in circulation as of now. With its increased acceptance by many merchants worldwide , BTC has become a real tradable currency. The ever increasing demand for Bitcoin trading has made many investors play with various trading strategies to profit from it. There are many options available online that will allow you to trade Bitcoins in different ways. But before doing so, you need to register yourself on any cryptocurrency exchange platform. But make sure you properly secure your account by choosing strong passwords and two-factor authentication (2FA) , which is definitely a good idea to follow in any online account.
What is Bitcoin ?
Bitcoin was introduced in 2009 and currently has a market capitalisation of $3.9 billion (USD), making it the most widely used and accepted cryptocurrency . It works on blockchain technology, which means that each transaction is recorded by all computers or nodes participating in its network .
How to trade Bitcoin ?
Although there are several online trading platforms available worldwide, one of the most popular bitcoin exchanges is Coinbase. It facilitates the purchase and sale of bitcoins by directly transferring money from your bank account or debit card into your BTC wallet. But make sure you properly secure your account by choosing strong passwords and two-factor authentication (2FA), which is definitely a good idea to follow in any online account.
Since cryptocurrency trading and investing is very much like making transactions with foreign currency, you need to ensure that you choose the right platform or exchange for carrying out your bitcoin transaction. It's best to go through the terms and conditions before signing up as well as checking for any relevant fee to avoid useless financial surprises later.
Last but not the least , it's good to remember that only a handful of countries allow Bitcoin transactions and in a few others, a certain degree of regulation prevails. Therefore it's best to check with your country's laws before starting out with Bitcoin trading .
