How to start Bitcoin Trading?
Bitcoin trading can change fortunes. The volatility of the Bitcoin market is secret to no one. Bitcoin rates fluctuate by hundreds of dollars within a few hours let alone days. Thus, investing in Bitcoin is a smart option and many individuals and global firms are up for grabbing this rare opportunity. Although, Bitcoin is likely to give you high returns on investment but you should only invest what you can afford to lose as it is a risky investment.
Open an Account at Exchange
Bitcoin trading process is quiet similar to the traditional stocks trading. For starting your personal trading you need to open your account in one of the many Crypto or Bitcoin Exchanges. Some of the most popular and reliable exchanges in the market are Bitfinex, Coinbase, Bitstamp and Kraken. Most of the exchanges ask for your KYC details, so keep it ready. The process for trading in these exchanges is mostly the same barring a few differences like the transaction charges, transaction methods and KYC rules. Thus, you can select your exchange as per your convenience and suitability.
You can transfer the funds to Bitcoin Exchange from your traditional Bank account in exchange for Bitcoin. You will receive Bitcoin in your Exchange account in 1 to 2 working days. Now, you are all set to start Bitcoin trading. Using your Exchange’s software place your new order at market price or put a price limit for buying or selling as per the real time rate changes in Bitcoin value. You can place a withdrawal request whenever you want to revert back the money into your bank account from your Exchange account balance.