How to Trade Bitcoin?

Most people are still not clear about bitcoin and how to start trading bitcoin. Trading into cryptocurrency indeed risky and please make sure as a beginner you won’t invest more than you are ready to lose. If you’re on the right side of trading, it’s easy to see that you are making profit easily however if you’re on the wrong side the possibilities to lose a lot of your hard earned money pretty will be quick.

If you chose to be a trader in cryptocurrency then you typically focusing on a short-term profit, or in another word when you purchase a bitcoin, and you utilized the volatility of the market to sell and out of trades by purchasing bitcoin at the low price and selling it during higher price. Beforehand, you need to evaluate what is your goal in trading the bitcoin and aware of the risk level that you could bear. Before trading, you need to purchase bitcoins, from a trusted and reliable sources or cryptocurrency exchanges platform that have good ratings and doesn’t overcharge you for the service.

Choosing the right exchange might be pretty confusing since bitcoin doesn’t have official exchange but there are plenty of exchange can be chosen. There are so many things to consider for the right exchange for you; the trustworthiness, the location wise for currency choosing, the fees and charges as well the liquidity. These are among the factors that should be considered in choosing a good exchange before trading into bitcoin.

As mentioned earlier, bitcoin trading could be very profitable if being done in a right way from a right channel with the right time. After you have done choosing your preference exchange, you need to sign up and follow the instruction accordingly given by the exchange and you will receive a confirmation email afterward. Next, your documents such as your identification card details, address proof and bank details proof will be needed to fill in the KYC section required by the AML and KYC law. Once done completing documents required, your registered account now will be verified by the exchange.

After the verification process, you may start trading by funding your exchange account at first place. If your funding is using traditional banking system, then it will take at least one to three working days before the fund can be deposited into your account meanwhile bitcoin deposit will only take roughly one hour. After that, you can seek for trading option offered on the exchange platform with your verified account complete with funding that has been deposited.

Before you get into any trading activities, you need to understand the risk that may come in the future and never trade more than you can bear to lose. Research may be required in order to learn some tips and skills of trading by the bitcoin trading guru, reading price charts and price history, and also getting some advice from the bitcoin trading specialist for some guidance and strategy that can be applied.