Are you interested in Bitcoin Investment but don’t know how to get about it? You are not alone. Most Crypto Currency enthusiasts want to start investing in Bitcoin but don’t know where to start. Crypto Currency trading has seen an eruption in the number of people interested in Bitcoin investment. There is a range of trading platforms to choose from. The trick is knowing which one is the best.
With such a high number of Bitcoin investment opportunities arising, platforms also increase. To get ahead of the pack, you need to know which the best platform. Scams are also on the increase, and it is best to avoid any unscrupulous online broker. When it comes to Bitcoin trading, safety is paramount and should be the first consideration. Thanks to our reliable and reputable years in Crypto Currency investment, we know how to spot good brokers.
Below are some of the steps you need to take when considering which Bitcoin Investment platform is right for you.
No matter which type of investment you choose to engage in, it is better to be prepared at all times. When investing, the 5P’s are essential to foster a better investment strategy. Proper preparation prevents poor performance, and it is where the 5P’s come to play. You need to prepare well before engaging in Bitcoin Investment. A trader who is well prepared and is conversant with the Bitcoin investment lingo has a better chance. As an investor, you need to know about Crypto Currency.
Knowledge and preparation is the best way to minimize any risks associated with Crypto Currency trading. Once you learn about Bitcoin, you should also know more about the basics of trading. A good Bitcoin investor knows when to minimize and limit the risks involved in placing trades. Do you know how to analyze Bitcoin properly? As a rule of thumb, you should know the difference between a Bitcoin Broker and a Bitcoin exchange.
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Even if you are a skillful trader, it wouldn’t mean much if you don’t have the right Crypto trading tools. Finding Brokers that are transparent and trustworthy will increase your chances of winning. The best way is to get a platform that suits your needs and has a proven online reputation. To find out the best platforms, you need to search through reviews. Reviews help newbies to find some of the leading brokers and Crypto Currency trading tools.
When Bitcoin started trading on the Forex market, traders could only use exchanges and wallets for trading. All that has changed as the Bitcoin Investment market has seen hundreds of online brokers come out. It all started when Plus500 launched the first Bitcoin Contract for Difference (CFD). With this launch, it broke the record as the first Forex platform to offer Crypto Currencies. Other Forex brokers have emerged and joined Plus500 in offering Crypto Currencies as a trading commodity.
Traders can easily trade with Crypto Currency based derivatives from CFDs, Currency pairs, and indices. The advantage of dealing with an online Bitcoin Investment broker is they are strictly regulated. Online brokers also have added advantage in that they offer more market than just Crypto Currency. Traders can use online brokers to trade in Binary options, CFDs, Commodities, Forex, Indices, and stocks.
Online brokers will also allow traders to leverage trades with reasonable margins. It makes traders have exposure to maximizing profits, and some of the leading brokers are well-known. They include eToro, which offers a unique copy trading feature as well as a social trading network. The platform is available everywhere, including the ever strict United Stated market. Plus500 is another online broker who is suitable for newbie traders.
Serious Bitcoin Investment traders opt to use exchanges for a variety of reasons. Top of them being brokers offer Crypto Currencies as derivatives and not in their pure form. Exchanges provide a vast market for assets and the right tools to use. Tools such as calculators and graphs feature in Bitcoin exchanges. Most traders believe exchanges are the best and original way of trading Crypto Currencies. Exchanges also offer better security features that prevent hackers from stealing Bitcoins.
Security flaws have been rampant thanks to Crypto Currency heists led by hackers. If you want to invest in an exchange, there are leading exchanges to choose from.
Coinbase is a US Based Crypto Currency exchange and wallet service. You can convert Fiat to Crypto Currency and use it to but Bitcoin and other Crypto Currencies. Bitmex is another Bitcoin Investment wallet and is one of the most advanced and popular exchanges. Binance is the third exchange, considered as an original Bitcoin exchange platform.
If you have long-term Bitcoin investment goals instead of trading the asset, wallets must come into play. Traders must choose a safe wallet to store your Bitcoins. A problem with storage is that if you don’t secure them, you might lose them forever. Unlike a broker or exchange, wallets are designed to store assets safely. Wallets also ensure you continue using your Crypto Currency as an actual currency.
In the Bitcoin Investment world, there are two types of wallets, hardware and software wallets. Note that the safest way to store Crypto Currency is by using hardware wallets. Some of the leading wallets include:
Ledger Nano S is the leading hardware wallet for Crypto Currency storage. It uses a small device that resembles a thumb drive and supports the most popular digital currencies.
Exodus is another practical way of storing your assets in a safe wallet. This type of e-wallet is on desktops and mobile platforms. If you are not still convinced, you can use Exodus’ hardware as your own wallet.
Coinbase is another place where you can buy and store Bitcoins. It is also a place where you can invest, spend, and trade Crypto Currency without any hassles.
For those planning to get involved in Bitcoin investment, you now know the steps to take. We hope you will choose your broker and exchange wisely. It is best to do some research before embarking on any Crypto Currency trading. Yes, the risks may outweigh the gains, but once you make the right moves, you will never look back.
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