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trading bitcoins for beginners

Things You should Know about Trading Bitcoins for Beginners

Bitcoin trading can be profitable. It is fragmented with massive spreads since the market is new. Read our article today of what you should know about trading bitcoins for beginners.
 Why trade Bitcoin today
Before you find out how to trade Bitcoin, it is important to understand the excitement and uniqueness in trading Bitcoin. Here are the reasons why you should try to jump into the Bitcoin world.
•    Bitcoin is global
Bitcoin is not categorized as fiat currency. It means that Bitcoin’s price is not related to the policies or economy of a county directly. From Bitcoin history since a long time ago, the price of Bitcoin has reacted to a diverse range of events, from Greek capital controls. In the past years, Bitcoin’s price increased because of the general economic uncertainty and people’s panic reaction about it. There are some claims, let say, which Cyprus’ capital controls brought attention about Bitcoin. It caused the price of Bitcoin to rise in 2013.

 •    Trade everyday
Bitcoin is different from stock markets. In Bitcoin, there is no official exchange. But instead, there are tons of exchanges in every country which operate every time, every day. There is no official price for Bitcoin since there is no official Bitcoin exchange. This opportunity can create arbitrage. The exchange will also stay the same within the range of general price in most of the time.
 •    Bitcoin is volatile
It is not a secret that Bitcoin is well known for its frequent movements of the price. If you look at the daily chart from the CoinDesk BPI, it will be easy to find multiple days that swings around 5% or even more.
Find an Exchange
As we have mentioned before to you, there is no official exchange Bitcoin. Users have a lot of options and they should consider these factors below when they are about to decide on a Bitcoin exchange:
 •    Trust and regulation
Users need to do research first whether the exchange is trusted or not. It is important to find out whether the exchange is possible to run with the customer funds away or not.
 •    Location
Users’ payment needs to be accepted from the country origin if they have to deposit fiat currency
 •    Fees
Users need to be aware of the percentage of every trade is charged.
 •    Liquidity
Massive traders will need an exchange of Bitcoin with good market depth and high liquidity.
Considering those factors above, we are going to give you a list of dominating exchanges in the Bitcoin exchange market. They are including:
 •    Bitstamp
This is one of the oldest exchanges of Bitcoin. It was founded in 2011. It’s recently the world’s second-biggest exchange that is based on USD volume. Every day, there is around 10,000 BTC traded.
 •    Bitfinex
It is the number one Bitcoin exchange in the world based on USD trading volume. In every day, there is around 25,000 BTC traded. Customers or users can trade without verification if there is cryptocurrency that is used as the method for the deposit.
 •    Coinbase
It was the first Bitcoin exchange that is regulated in the U.S. There is around 8,000 BTC traded every single day. This is the fourth biggest exchange based on USD volume.
We hope that this information will prepare you more to trade Bitcoin and be aware of exchange. Good luck!

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