Wondering how to get started trading in Bitcoin? If you’re not sure where to start, then read on. In this beginner’s guide to learning to trade in Bitcoin, we’ll show you the easiest ways to begin and explain why you should seriously consider learning this valuable skill!
Step 1. Create a digital wallet
In order to start buying, selling, and trading bitcoin (or any other cryptocurrency), you need a digital wallet like pokies online. Cryptocurrency exchanges (the places where you buy, sell, and trade cryptocurrencies) do not send coins or tokens directly; they only keep track of how much currency you have at any given time.
Step 2. Understand the basics of Bitcoin trading
Learn how to choose a good exchange: To choose a good exchange, start by asking yourself some questions: Do you want full control over your private keys? If so, Poloniex and Bitfinex may be best for you; if not, GDAX is excellent. Are there a lot of users trading on your preferred exchange? Is that number growing or shrinking?
Step 3. Read Books and Articles about Trading
There are plenty of articles and books out there on Bitcoin trading. While they don’t have your unique voice, they will help you refine what you can share with your audience.
Step 4. Start Trading with a Demo Account
Before you start trading, you need to familiarize yourself with how a trade works, and how your broker’s platform interface is structured. Use a virtual trading account while you’re getting started. For example, if you have an Interactive Brokers (IB) account, open up demo account right here! Demo accounts are especially useful for new traders who are just starting out with Forex trading because they simulate a real-world environment without any risk. You can utilize the similar demo account in online casinos too.
Step 5. Start Trading with Real Money
Now that you have mastered all of your new skills, it is time to put them into practice. Go through each link and start trading with real money. Don’t forget that if you make an account on any of these sites with my referral link, I will receive a bonus for referring you!