3 Basics of Cryptocurrency Exchange Trading

Bitcoin gives investors a huge trading potential. It is no wonder that more and more people are looking for ways to start crypto trading and want to know how to avail of this activity at max. If you are one of them, then this guide is for you. Here you will find useful info.

Key Facts

BTC Trading on the exchange has several big advantages over conventional trading:

  • Bitcoin is a global currency. It is not dependent on any state, which means that it can be considered independent to some extent. Of course, it is influenced by the events that take place in the world. For example, if a devaluation of the local currency occurs in some countries, then you can be sure that the Bitcoin rate will slightly change. The 2013 crisis had a huge impact on the value of digital assets. 
  • Bitcoins can be traded 7 days a week and 24 hours a day. There are no official exchanges that work on specific days of the week or hours. There is no official rate or official price either. All this creates just ideal conditions for trading;
  • Bitcoin boasts high volatility. The price has changed at a great rate over the past few months. High volatility also creates excellent trading conditions.

Trading Basics

What are the basic principles of trading on the cryptocurrency exchange? If you already have some experience in trading, then you most likely know the basics. All that is required from you in order to make a profit is to buy digital assets at a cheaper price and sell the units when the rate increases. Of course, there is a whole range of tools, tactics, and strategies for determining when it is the best time to buy and sell a currency.

Bitcoin Price/Value for 2021 – Should You Worry About Falling?

There are at least five crucial reasons for the rise in cryptocurrency prices. Halving, crisis, and dollar problems – these are some of the things that will influence the situation on the cryptocurrency market.

The previous year has brought substantial profits to many Bitcoin holders. Since January, the coin has risen in price by 45%. And if we compare it with the March 2020 situation, when the price of BTC fell to $3,800, the price has increased by 176%. The next year is expected to be even more successful for investors. Well-known representatives of the industry expect that the rate of the main cryptocurrency will continue to rise.

What Can Impact the Situation?

There are some key influencers that can drive the situation:

Top 7 Platforms Where Celebrities Exchanged BTC

The exchange of cryptocurrency for fiat and vice versa is a common procedure that every member of the crypto community has encountered at least once. The fastest way to carry out such operations is to use special platforms for this purpose. If you are looking for the best platforms to buy or sell BTC immediately, then here are some of the best market places that celebrities use.

#1 – StormGain

The StormGain project is registered in the Virgin Islands and was launched in 2019 as a cryptocurrency exchange. Subsequently, StormGain was turned into a full-fledged exchange, but many still use the platform for the quick exchange of assets. The platform charges commissions for conducting transactions at a level ranging between 0.095% and 0.25%. 

Is It Legal to Buy and Sell Bitcoins Through Brokers or Platforms?

The legal status of cryptocurrencies varies considerably from country to country. In a number of states, any operations with cryptocurrencies are officially not allowed. They are usually treated as a commodity or investment asset and are subject to relevant legislation for tax purposes. For example, in Germany, Bitcoin is recognized as a currency of account, while it is a legal tender with a tax on purchases in Japan. There is currently no legal framework in the world that sets the benchmark rules governing cryptocurrency ICOs. Therefore, there are no legal protection mechanisms for both investors and persons issuing cryptocurrency tokens. 

Can You Buy and Sell BTC?

There have already been some attempts to include crypto investment in the legal field and give cryptocurrencies an official status. These were aimed at creating the conditions for regulating a new financing instrument. So, in Switzerland at the end of 2016, it was allowed to attract up to 1 million Swiss francs within the ICO without reporting obligations to the securities market regulator. 

5 Best Marketplaces to Buy BTC

Your trading success is highly dependent on the exchange platform you choose. If you are rather new to this business and lack the key knowledge, it is not a reason to put your trading career at risk. Find below the list of top market places where you can run any transactions with BTC.

#1 – Binance

Binance is a prime example of how a top-notch cryptocurrency exchange should look like. Initially, the platform did not work with fiat funds at all. Later, taking into account the numerous wishes of customers, an adjacent platform Binance Jersey was opened to exchange cryptocurrency for traditional currency. The key features of the platform are as follows:

  • Convenient multilingual interface to buy bitcoin instantly;
  • A large number of trading pairs;
  • Additional tools for comfortable trading.

There is a minimum commission on Binance, and you can withdraw two BTC units per day without identity verification.