Bitcoin, as the oldest, most valuable, and the most demanded cryptocurrency has enormous popularity in the trading market. Bitcoin investment first-line investors made a lot from the surges in valuation in 2021. Though bitcoin is currently in a falling position, it is expected to grow in the future.
As a newbie in this field, you should not go by the news and predictions only but, investigate well the market on your own. As well as examine yourself by asking a few questions What does alpha and beta mean and trying to get the answers.
- Why do you want to invest inBitcoins?
- Are you aware of the market volatility and the risk factor?
- Do you have a risk appetite if something bad happens?
Now, if you have clear answers to these three questions, and you think you are ready to invest, then go ahead. The following steps are simplified here to start bitcoin trading.
- Find the suitable crypto exchange for you:
The first and the main thing to start bitcoin trading is to find the best crypto exchange for you. When planning to find the best bitcoin exchange, there are some points to keep in mindwhich are as follows-
- You can find bitcoin exchanges online and make a list of some popular exchanges from which you are going to choose one.
- Check the reviews of various exchanges online. You can also find some articles to read about them online. Choose after your research.
- Different exchanges set their own guidelines for working. So, you must make sure you read thoroughly their guidelines when you choose a crypto exchange.Or, you might choose any website or trading app for that purpose. Here, you can go for the Bitcoin Era. This is a platform from which you can trade bitcoin and other cryptocurrencies easily.
- Find the address of their office that must be given on their website. Try to choose the nearest one so that you can visit and check if they exist or not.
2. Register with the bitcoin exchange: After finding the best bitcoin exchange for you, the next step to do is to register with them. For the registration part, you might need to get your verification done by submitting the ID proof that is needed.
3. Open a bitcoin account and link bank account:Once you are registered with them, a bitcoin account will be opened.
- Opening a bitcoin trading accountis required to buy or sell Bitcoins.
- Linking an existing bank account is required.
4. Transfer money to the bitcoin account: Now, once you have your bitcoin account you need to fund it from your bank accountso that you can buy some bitcoin.
5. Buy bitcoins: Start buying bitcoin with the fiat money that is available in your bitcoin account. You can check the buying option here. Check the current price of bitcoin and start buying.
But, before buying try to remember certain things here.
- Study the current market rates, and their past reviews and get to know about the experts’ predictions.
- Do not invest every single penny into crypto investment.
- Try to diversify your portfolio with other cryptocurrencies.
- Invest as much you can afford to lose.
6. Sell your bitcoin and make a profit: Selling bitcoin in order to make a profit needs much more attention and some skills.
- Before selling, make sure that you study the market.If the bitcoin price is higher than your buying price then it is the right time to place a sell order. Choose the sale option on the platform.
- Select the right account where you want to get the money in the deposit section.
- There might be some holding period before the transaction takes place. By that time, you can make as many sales as you want.
- Now you can collect your money with the profit in your account after the transaction is over.
So, with these detailed, informative points, any enthusiastic crypto trader can now start bitcoin trading. If you are looking forward to investing in cryptocurrencies, especially Bitcoins, these aforementioned points will be of helpful use to you. Find a suitable trading platform for you that will guide you with your investment and start trading.
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