The Beginner’s Guide to Bitcoin Trading

Ask Yourself: Do You Really Want to Trade this Market?

The first thing that’s important when starting out as a Bitcoin trader is being honest and realistic. Do you have the money to comfortably support yourself whilst you learn? This market is a 24-hour-a-day deal. You need to sleep so that’s four to eight (eight?! Yeah, right!) hours out of your day already. If you then need to go to a job, how much time will you actually have to study the markets? You don’t get to pick and choose when the markets make a move, you must be ready and waiting for them. In crypto, this can happen at a moment’s notice. Trading is stressful and in a never-stop market.

Learn About Trading

If you’re reading this far into this article, we presume you still want to become a cryptocurrency trader. Getting started trading begins many hours away from exchanges and starts with learning patterns, signals, and other theoretical concepts. It requires an investment of much more than money. You need to learn and learn hard before you start.

Learn Some More About Trading

You might think after you’ve read through professional traders’ literature, you’re ready for your first trading account and a mammoth session at the charts. Well, no one is stopping you from doing just that. However, you will almost certainly lose money if you just go wading in.

Find a Suitable Venue to Trade at

This is where it all gets real. Finding a cryptocurrency exchange to buy and sell digital assets at is easy. There are loads of them. However, you need to ask yourself: “Do I want to trade just Bitcoin or other altcoins?” as well as “Do I want to use a dollar-pegged coin like Tether or trade into real fiat currency?”

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