Bitcoin has seen a massive rise in the past few years. There’s no denying that it is one of the best cryptocurrencies. However, trading in bitcoin can earn you a significant amount of profit.
According to experts at immediate-edge.co, trading via Bitcoin trading platforms can provide you with the benefit of cold storage, safe wallets, and more. Moreover, website friendliness is also an essential factor to consider.
Tips to start Bitcoin
If you are new to the field of bitcoin trading, you need to get started with the best. However, there are certain tips and tricks you might need to follow for bitcoin trading and getting the maximum advantages.
1. Always start small
Bitcoin is one of the most fluctuating markets. Hence, whenever you are to trade Bitcoins, you need to start small. Irrespective of how much capital you have, if you limit yourself, you can get maximum benefits.
2. Know the market
The bitcoin market will fluctuate even before you know it. Hence, you will need to understand the market trends before starting to trade.
3. Build a trading plan
Bitcoin isn’t your regular commodity. Even small losses can hurt you significantly. Hence, you must build a proper plan before trading with Bitcoins. It would help if you analyzed the goal you want to achieve and the risk you’re willing to take.
Platforms for Bitcoin Trading
Now that you know the tips and tricks, you need to choose a bitcoin trading platform that can cater to all your needs. Some of the prominent bitcoin trading platforms include the following
Coinbase is one of the most popular bitcoin trading platforms. You will need to invest directly with USD and trade in different cryptocurrencies like Litecoin, Ethereum, and Bitcoin. Furthermore, it also accepts different tokens. When you open a Coinbase account, you become eligible for a $5 bonus. Moreover, you can readily earn tokens by meeting the criteria.
Another great platform for cryptocurrency investing is BlockFi. With this platform, you can lend and earn interest from your holdings. You can also choose to borrow against the holdings and further trade with the traditional purchase and sell methods. However, if you only want to hold the cryptocurrency, you can also earn interest from them. One of the best features of this platform is that it opens the opportunity for various bonus offers that can make trading pretty easy for you.
Do you have limited capital? Are you looking for free crypto trades on the platform? There’s nothing better than Robinhood. Robinhood is a relatively new trading platform, and by now, they allow trading only in Bitcoin and Ethereum. However, it is necessary to comply with the limitations that may come with this platform. One of the most significant advantages of this platform is that you become eligible for free shares of stocks when you open a Robinhood trading account.
eToro is one of the most popular trading platforms in the UK and all across Europe. However, it is only in recent times that they are accepting traders from the United States as well. The users can choose to buy a wide range of digital assets and get into buying and selling trade. If you are new and unsure about using a trading platform, eToro brings you the benefit of a practice trading account. Once you know how to use the platform, you can deposit real funds and begin trading.
It wouldn’t be wrong to say that Crypto.com has become one of the fastest-growing platforms for crypto exchange. Based in Hong Kong, this trading platform offers extensive benefits to US-based customers. With this trading platform, you can access around 90 tokens and coins around the globe but only 50 tokens if you’re from the US. However, the only drawback of using this platform is that there’s an app but no desktop platform.
One of the best benefits of trading via Coinmama is that it allows buying cryptocurrencies using debit and Credit Card. It deals with some of the most popular cryptocurrencies. However, you might have some difficulty while trading via this platform.
Crypto and bitcoin trading isn’t the same as stock investing. Before you get into trading, you should have an exchange account ready. The initial purchase of BTC amounts for your first open trading account. Hence, choose carefully.