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Step-by-step guide about bitcoin trading


When Satoshi Nakamoto created bitcoin in 2009, nobody taught it would be a worthy coin, let alone being recognized and accepted as a means of transaction worldwide. Unfortunately, not everyone knows about bitcoin trading, even as they all love to have the digital coin. While some traders have made a fortune trading bitcoin, others have lost their hard-earned money. This takes us to the next part of this article, which is what is bitcoin trading?

What is bitcoin and how does it work?

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto, to facilitate online transactions . It was intended to eliminate intermediaries from financial transactions, decentralize transactions, lower fees, and enable users to send money anonymously. Bitcoin does not exist as real money; only its balances are kept in a public ledger.

Why does everyone want to have bitcoin in 2021? We are finally faced with the reality of life – bitcoin is now a globally recognized cryptocurrency, with individuals, governments, merchants, and financial institutions all jostling to have a piece of the pie. Bitcoin has evolved payment for goods and services online, payment of health bills, payment of tuition, storing assets, gambling, donations, and transfer of assets across borders.

How does btc work?

One question beginners always ask is, how does bitcoin work? Here is our simple explanation. Every bitcoin holder needs to create a bitcoin wallet by installing one on their desktop or mobile devices. Once you do that, you automatically get a bitcoin address with private and public keys.

You can access your wallet or check your balances with your private key. Your public key is shared with anybody you want to receive bitcoin from, but your private key is kept safe for yourself.

Main factors that influence bitcoin’s price

Bitcoin price is not rigid; it fluctuates from time to time, depending on certain factors, amongst others, market, political and regulatory developments.  Key factors that affect the price of bitcoin are:

Main bitcoin trading strategies

Bitcoin trading has the potential to make you rich if you do it the right way; at the same time, it can wipe out all your income if done wrongly. Here are few tips to help you avoid disaster while trading.

Why should you trade bitcoin?

There are several reasons why you should trade Bitcoin. Let us quickly mention a few of them:

HFTrading is a trading platform with all the tools and knowledge to help any bitcoin trader or investors to trade and invest wisely. The platform offers CFD trading on a variety of assets, such as cryptocurrencies, indices, stocks, commodities, and currencies. Some of the advantages of using this award-winning platform for bitcoin CFD trading include:

How to buy and sell bitcoin cfds with hftrading

To trade bitcoin CFDs on HFTrading, you need to undertake a few step process. The following are the necessary steps to take:

How to withdraw your funds

Bitcoin trading: main benefits and risks

Bitcoin trading has several benefits, including transparency of transactions, access to high leverage with Bitcoin CFDs, low trading fees, freedom to pay, low fees, global presence, and fewer risks to vendors.

Trading bitcoin is, however, not without some risks. Some of the inherent risks include hacking, price volatility, “Hard fork” splits, young technology, cyber theft, financial loss, currency regulation, and virtual currency fraud.

Summary

As the pioneer cryptocurrency, Bitcoin has gained popularity and wide acceptance globally. Bitcoin trading can be highly rewarding to those who have mastered the trade; however, it has inherent risks. Would you like to explore this topic? You can do so on our site, at HFTrading. HFTrading is a broker that provides a secure platform where you can trade Bitcoin CFDs as well as other CFDs of your choice.

There are numerous advantages of trading bitcoin CFDs with us, some of which include:

FAQ: How to trade bitcoin

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