How To Trade Bitcoins

When the first cryptocurrency – Bitcoin – appeared, it gave impulse to the entire industry development. Now we can see thousands of projects and coins on the market. Many people change their profession for trading, learn strategies and make their path to wealth in the crypto field. 

Amid numerous successful projects, trading bitcoins is still the most popular activity. Bitcoin is considered the most reliable and promising asset to trade and invest in. This cryptocurrency shows stable growth in the long run, even though there were some periods when the BTC rate dropped. To learn the way the Bitcoin rate has gone through, check out bitcoins charts. You may use the WhiteBIT exchange for it. Pick the period you like to investigate and see how the BTC price changed.

Ways to get Bitcoin

So what are the ways to get bitcoin?

  • Mining. This is a complex process with the use of high-tech equipment. New blocks in the Bitcoin blockchain are received through solving complex math tasks. If earlier it was possible to mine BTC on home PCs, then now, as acquiring new blocks is becoming more complex, home PCs cannot cope with it. Modern BTC mining requires expensive equipment and maintenance.
  • Popular play-to-earn games are rapidly evolving. Numerous new projects emerge in the market, offering exciting gameplay and cryptocurrency and NFTs as rewards for completing tasks.
  • Trading. To trade bitcoins, you only need to register on one of the credible crypto platforms and receive profit from the BTC price movements. 

Let’s talk about trading more. The easiest way is to buy BTC on an exchange at a lower price and wait until the rate soars, then sell it at a higher price. However, experienced traders often use derivatives and make money on both increasing and dropping rates, making the most of the asset’s volatility.

To begin with, you should study the BTC rate movements on a btc chart. Then select a trading strategy. It will take time to learn strategies. On the WhiteBIT exchange, you can practice different approaches on a demo account.

Decide on how you want to trade – long or short? Configure “take profit” and “stop loss” limits. Open the trade and monitor it. When it’s time, close the order and take your profit.

Trading requires your knowledge and practice, try to always adhere to your trading strategy.

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Vivek is a published author of Meidilight and a cofounder of Zestful Outreach Agency. He is passionate about helping webmaster to rank their keywords through good-quality website backlinks. In his spare time, he loves to swim and cycle. You can find him on Twitter and Linkedin.