Home Finance How to Trade in Bitcoin: Your Complete Guide

How to Trade in Bitcoin: Your Complete Guide

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Trading in Bitcoin

Whenever the price of bitcoin rises, the new investors & speculators want the share of profits. This is very simple for anybody to trade in Bitcoin as barrier for the entry is very low. Thus, how will you get a slice of your pie? Well, here we will help you to make the trading decisions. Thus, before getting in “how” let us start with “why” you must choose bitone core.

Why to Trade Bitcoin?

Reason why you must invest in BTC, and cryptocurrencies, is just because there’s nothing like it. There’re many amazing features that actually makes the Bitcoin trading exciting & unique.

Bitcoin isn’t Fiat

Bitcoin is not the fiat currency, that is, it isn’t under control of just one government. Thus, instead of single economy having the stranglehold over price of an asset, the price of bitcoin has reacted to the wide variety of the events. Let us look at a few events over last some years that has affected price of the Bitcoin.

Bitcoin stays open 24/7

Not like stock markets, BTC stays open 24 by 7. Reason being the stock markets are quite specific to country that they operate in as well as reflect working hours of the country. Anybody can buy bitcoin on the exchanges. There’re many exchanges all over the world, which operate 24 by 7.

Trading in Bitcoin

Bitcoin is Highly Volatile

Bitcoin & cryptocurrencies are infamous for the rapid & frequent price movements. The volatility will help the traders to make the easy and quick buck.

How does the Bitcoin work?

Before investing in the asset, you must know how this. Here we have covered mechanics behind these crypto many times in detail. But, for uninitiated, we can give you the brief overview. Suppose you’re already aware about the mechanics, please skip to our next section. Bitcoin was made by the unknown programmer that goes by pseudonym “Satoshi Nakamoto.” BTC is been powered by the blockchain technology.

Blockchain is the time-stamped sequence of immutable record of the data, which is managed by the cluster of the computers that are not owned by one single entity. All these blocks of the data is secured & bound to one another by using cryptographic principles.

How Do the Transactions Work?

One highly valuable thing about BTC is that you do not have to go through the bank for sending the transaction. As community say “you will be your own bank.” Thus, how will they manage doing that? By public cryptography. Each Bitcoin user has the private key & public address, which are mathematically derived from one another. This how does this work? It’s pretty straightforward. Public address is just like the account number & private key is just like the PIN code.