How to be Successful in Bitcoin Trading
Bitcoin trading can be daunting and intimidating, especially if you are a beginner. That is why it is important to learn how to trade Bitcoin successfully. You don’t have to spend a lot of time and money learning.
However, there are some risks involved with Bitcoin trading because there are some people who can track your spending, take your money, or they can violate your privacy so learn how to protect your coins.
Trading Bitcoin For Profit
Bitcoin price has grown more than 1000% in 2017 alone. The price of bitcoin is hovering at US$16,000 at the time of writing. Bitcoin was US$3K at June 2017. You missed the run, do not miss it again.
I benefited from this bitcoin boom. I took the risk and invested in cryptocurrency. I learn from credible expert before starting to trade bitcoin. There are tools and platforms that help you to day trade. I now hold a number of bitcoins and other alt coins for long terms. I also have a bucket of bitcoins that I day trade very good profitability.
Bitcoin Trading Bot – Earn Bitcoin Daily
I recommend that your bitcoin trading strategy to include bitcoin trading bot to help you maximize your profit 24 hours a day. Do take note that there are many bitcoin trading bots our there in the market that are fake. You can see that in many of the Facebook advertisements. Exercise with care when choosing which bot to help you. I use UsiTech to help me grow my bitcoins. I started with 2 bitcoins in May 2017 and have grown to 17 bitcoins now. I did my research on this company and was convinced that it is a real company with good bitcoin trading strategy. I am getting a 0.2+ bitcoin ROI daily. This is real. I can retire now if I want to. But I am keeping my job for now and at the same time earning about US$ 3,500 extra each day. It just feel so fantastic – knowing that I still have a good daily income if I loose my job today. You give it a try. Thank me later.
Are You A Beginner?
It does not matter if you are a beginner. Start with the right mentor and you are on your way to earning good bitcoins.
Bitcoin Trading Sites And Cryptocurrency Exchange
The best cryptocurrency exchange is eToro. This bitcoin trading platform us user friendly and fast. It is widely popular among many bitcoin investors because it is both a cryptocurrency trading platform with an integrated social network. This unique combination gives investors an edge over many others as they can now make smarter investment decision by tapping into the wisdom of the social crowds.
I am no expert on this. But I will share with you my bitcoin strategy – a simple yet work approach.
I buy a bucket of bitcoins for trading. I started with 12 bitcoins and I bought into XRP, SYS and PrimeCoin in Bitcoin Exchange Polonex. I do my swing and day trading using Polonex.
At the same time, I invested 8 bitcoins into UsiTech. I put the ROI into a 100% rebuy for 7 months. I started to see the result now. I am getting a 0.2 BTC ROI daily and I am withdrawing it on a daily basis. This translates into $3400 at the current BTC price ($17,000).
I am so glad I took the plunge and went ahead with the above investment strategy. I reckon I can truly retire starting June 2018 – 6 months away. I am 47 this year.
Do Your Homework
If you are new to Bitcoin, do not start trading immediately. You don’t know anything about Bitcoin so it is better to learn as much as you can. If you want to lose your coins quickly, you can begin trading immediately.
Bitcoin trading is a unique and rare opportunity, so treat it accordingly. The good thing is that there are several websites and blogs that teach how to trade Bitcoin successful. Hire a mentor if you want to be successful quickly.
Proceed With Caution
Bitcoin is a risky investment. Keep in mind that digital currency is still in its early stage of development. They are not like the asset markets such as stock or bond market.
It is a high-risk space so do not invest money you cannot afford to lose. Start by investing a small portion of your capital. Choose an entry point and stick to that entry point. Do not force the Bitcoin price come to you. Be patient and let the price come to you.
Bitcoin is continuing to produce impressive gains. There are stories of people making millions with Bitcoin trading. These stories are inspiring so they may force you to put all your capital in Bitcoin.
Do not invest all your capital in Bitcoin. Create a diversified portfolio. You can even consider alt coins or the traditional assess like bonds and stocks. A portfolio is great because when one investment declines, another investment gains.
Use Bitcoin Wallet
Bitcoin Exchanges are great for purchasing digital currencies, but they are not the best place for holding your digital assets. Do not store your coins in an exchange. Why? Because there are some bitcoin exchanges that have been hacked.
Buy the coins from an exchange and then move the coins to a wallet. Wallets are much safer. Manage your digital currencies properly.
Prepare For Volatility
The current digital market is volatile so learn how to manage the price fluctuations. One strategy is to use diversification. Secondly, you can buy and hold – this is a great strategy that is used by the top traders. Buy and forget is a good strategy for all investors.
Bitcoin price can drop 30% within an hour. This happened recently in Nov 2017. Many investor panicked and sold off their bitcoin holdings only to find that the price rebounded even more strongly than before.
Do not try to make short-term bets because traders who try this do not make money. Traders who buy and hold usually make a lot of money in the long run. Passive investment style outperforms active strategies in the long run.
You now know how to be successful in Bitcoin trading. If you don’t know anything about Bitcoin trading, start learning now. Store your coins in a wallet and prepare properly for volatility.
- 1 How to be Successful in Bitcoin Trading
- 2 Trading Bitcoin For Profit
- 3 Bitcoin Trading Bot – Earn Bitcoin Daily
- 4 Are You A Beginner?
- 5 Bitcoin Trading Sites And Cryptocurrency Exchange
- 6 Bitcoin Strategies
- 7 Do Your Homework
- 8 Proceed With Caution
- 9 Diversify Effectively
- 10 Use Bitcoin Wallet
- 11 Prepare For Volatility