Bitcoin Trading Online: Discover the Keys to Make Formidable Income from Bitcoin Trading

Step 1: understanding Bitcoin and the blockchain

Bitcoin is a peer-to-peer payment system, also known as electronic money or virtual currency. It offers a 21st century alternative to traditional banking. Changes are made through “electronic wallet software”. Bitcoin has actually subverted the traditional banking system, while operating outside of government regulations.

Bitcoin uses state-of-the-art cryptography, can be issued in any fractional denomination, has a decentralized distribution system, is in high demand globally, and offers several distinct advantages over other currencies such as the US dollar. For one thing, it can never be seized or frozen by the bank (s) or a government agency.

In 2009, when bitcoin was worth only ten cents a coin, it would have turned a thousand dollars into millions, if it had waited only eight years. The amount of bitcoins available to buy is limited to 21,000,000. At the time this article was written, the total number of bitcoins in circulation was 16,275,288, which means that the percentage of total bitcoins “mined“It was 77.5%. at the time. The current value of a bitcoin, at the time this article was written, was $ 1,214.70 USD.

According to Bill Gates, “Bit Coin is exciting and better than coin.” Bitcoin is a decentralized form of currency. It is no longer necessary to have a “trusted, third-party“Involved in any transaction. By taking banks out of the equation, you are also removing the lion’s share of every transaction fee. Also, the amount of time required to move money from point A to point B is greatly reduced.”

The largest transaction ever made with bitcoin is $ 150 million. This transaction took place in seconds with minimal fees. Transferring large sums of money using a “trusted third party” would take days and cost hundreds, if not thousands, of dollars. This explains why banks are violently opposed to people buying, selling, trading, transferring and spending bitcoins.

It is estimated that only 0.003% of the world’s population (250,000) owns at least one bitcoin. And only 24% of the population knows what it is about. Bitcoin transactions are entered chronologically on a ‘chain of blocks’ just like bank transactions. Meanwhile, the blocks are like individual bank statements. In other words, blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. To use conventional banking as an analogy, the blockchain is like a complete history of banking transactions.

Step 2: setting up your e-wallet software account

As soon as you create your own unique e-wallet software account, you will have the ability to transfer funds from your e-wallet to a recipient’s e-wallet, in the form of bitcoin. If you want to use a bitcoin ATM to withdraw funds from your account, it will essentially link your e-wallet ‘address’ to the e-wallet ‘address’ of your chosen ATMs. To facilitate the transfer of your bitcoin funds to and from a trading platform, you will simply link the ‘address’ of your e-wallet to the ‘address’ of your e-wallet of the chosen trading platform. Actually, it is much easier than it sounds. The learning curve in relation to using your e-wallet is very short.

To set up an e-wallet, there are a large number of companies online that offer secure, free, out-of-the-box e-wallet solutions. A simple Google search will help you find the right e-wallet software for you, depending on what exactly your needs are. Many people start using a “blockchain” account. This is free to set up and very secure. You have the option of setting up a two-tier login protocol, to further enhance security, in relation to your e-wallet account, essentially protecting your account from being hacked.

There are many options when it comes to setting up your e-wallet. A good place to start is with a company called QuadrigaCX. You can find them by doing a Google search. Quadrigacx employs some of the strictest security protocols available today. In addition, the Bitcoins that are funded in QuadrigaCX are stored in cold storage, using some of the most secure cryptographic procedures possible. In other words, it is a very safe place for your bitcoins and other digital currencies.

To withdraw money in your local currency, from your electronic wallet, you must locate a bitcoin ATM, which can often be found at local businesses within most major cities. Bitcoin ATMs can be located by doing a simple Google search.

Step 3 – Buy any fractional denomination of Bitcoin

To buy any amount of bitcoin, you need to trade with a digital currency broker. As with any forex broker, you will have to pay a fee to the broker when you buy your bitcoin. It is possible to buy 1 bitcoin or less if that is all you would like to buy. The cost is simply based on the current market value of a full bitcoin at any given time.

There are a large number of bitcoin brokers online. A simple Google search will allow you to easily find the best one for you. It is always a good idea to compare your rates before proceeding with a purchase. You should also confirm the rate of a bitcoin online, before making a purchase through a broker, as the rate tends to fluctuate frequently.

Step 4: stay away from any trading platform, from the promise of unrealistic returns to unsuspecting investors

Finding a reputable bitcoin trading company that offers high returns is critical to your success online. Earning 1% per day is considered a high return in this industry. Earning 10% per day is impossible. With online bitcoin trading, it is possible to double your digital currency in ninety days. You should avoid being lured into any company that offers returns like 10% per day. This type of performance is unrealistic with digital currency trading. There is a company called Coinexpro that offered 10% per day to bitcoin traders. And it ended up being a Ponzi scheme. If it’s 10% per day, walk away. The aforementioned trading platform appeared to be very sophisticated and seemed legitimate. My advice is to focus on trading your bitcoins with a company that offers reasonable returns like 1% per day. There will be other companies that will try to separate you from your bitcoin using unscrupulous methods. Be very cautious when it comes to any company that offers unrealistic returns. Once you transfer your bitcoin to a recipient, there is literally nothing you can do to get it back. You need to ensure that the chosen trading company is fully automated and integrated with blockchain, from receipt to payment. More importantly, it is crucial that you learn to differentiate legitimate business opportunities from unscrupulous “companies” who are adept at separating their customers from their money. Bitcoin and other digital currencies are not the problem. They are the trading platforms you need to be careful with before handing over your hard-earned money.

Your ROI should also be greater than 1% + per day because the trading company that you are lending your bitcoins to is likely to earn more than 5% + per day, on average. Your ROI should also be automatically transferred to your “electronic wallet” at regular intervals, during the term of your contract. There is only one platform that I am comfortable using. It pays each bitcoin investor / trader 1.1% per day in interest and 1.1% per day in principal. This type of return is staggering compared to what you would gain from traditional financial markets, yet with crypto currency, it is common. Most banks will pay 2% per annum!

If you have to do tedious activities like logging into your account, sending emails, clicking links, etc., you should definitely keep looking for a suitable trading company that offers a kind of set up and forgotten platform. , since they absolutely exist.