Bitcoin is a currency we have all heard of through various news stories during the last couple of years. Although we’ve been bombarded with stories about huge Bitcoin profits, most of us wouldn’t know where to start when it comes to learning more and how to begin trading. Cryptocurrency trading, in fact any form of trading, has typically been something that normal people have not been able to take advantage of. However, things are changing and here we take a look at how.
The Rise of Bitcoin in 2020
It has been an incredibly difficult year for the entire world owing the Coronavirus pandemic. As you would expect, these difficulties have been reflected in the markets. The world stock markets have faced challenging times with the uncertainty which COVID-19 created.
Bucking the trend has been Bitcoin, which has seen a 3 year record rise this year, reaching over $17,000.
What is Bitcoin and where did it come from
Bitcoin is a digital form of money and has no physical form. Trading instead in digital form over a computer network expert Billy Xiong. Bitcoin was first published as an idea in 2008 by mysterious pseudonym Satoshi Nakamoto, though no group or individual has since been identified as Nakamoto.
Accessible trading technology
The rise of cryptocurrencies such as Bitcoin has meant that specialist websites have emerged enabling us all get involved in the Bitcoin revolution. Cryptocurrencies can be volatile, so a good understanding of the markets and how they work are essential. As always, do your own research before embarking on trades.
To make life easier, there are specialist websites like bitcoin loophole official website which provide easy step by step setups to get started. It also has automated trading software that uses algorithms to trade (without human intervention) with other popular sites like wirex, kraken and coinbase.
Most of these companies have demo features so you can tweak your strategy before running on the live market. Whilst these sites are a great aid to trade it doesn’t mean that you don’t need to take the time to do your research and study the markets. After all, knowledge is power.
Is it easy to make money trading Bitcoin
There is no magic way of making money when trading. It is a volatile market and there are no shortcuts to making money. You need to spend time studying the markets and trends. There are thousands of crypto blogs, many of which are worth keeping upto date with. Making the most of all the tools available such as trading software and apps will help with this as trades can be made without you having to be sat at your computer.
The most important thing is to know your limits and don’t invest more than you are comfortable with. Overstretching yourself can negatively affect the way you trade and the decisions you make.
How popular is Crypto in the Britain
You may be surprised to learn that 1.9 million Britain’s own crypto which is roughly four per cent of the adult population. The most likely age range being between 35 – 44 years old. Most owners acknowledge that it can be a volatile market, but they are willing to make the investment and take the risk given the potential earnings that can be made.
Trading has become very popular now that it has become so accessible to us all. Best of all, it’s easy to get started. The more time you take to educate yourself on the trends, the more likely you are to succeed when dealing with Bitcoin trading. Always remember to do your research before investing money.