Cryptocurrency trading has its own characteristics. Of course, you can just buy BTC and wait for growth, but this is not the best option. First, a negative swap will eat into profits. The swap size is small, but still - you will pay approximately $1.6 per day for each open lot. Secondly, it is better to buy at the “bottoms” when the cost of bitcoin falls. Then any growth, even small, will bring us profit.
You can use technical analysis. Considering that the number of traders trading in bitcoin and other cryptocurrencies is growing, basic technical analysis methods work. This includes trading from support/resistance levels, and working in a channel, etc.
It is worth remembering that bitcoin, like other cryptocurrencies, is very, very volatile. What can affect its course? Yes, basically everything. Despite decentralization and other advantages compared to the base currencies we are used to, the rate of bitcoin, as well as other cryptocurrencies, is influenced by rumors. For several times, the cost of bitcoin has fallen solely on rumors, sometimes not confirmed by anything. After that, each time the price reached new highs.
By the way, why is the long-term growth of bitcoin inevitable? First of all, because the number of coins is a finite value, strictly defined by the programmers-creators. Well, the second important reason is the popularity and demand for this cryptocurrency. More and more banks are connecting the ability to work with BTC, you can buy food, entertainment, and even houses for Bitcoin. Let's not forget about anonymity - bitcoin wallets provide 100% anonymity when transferring funds.
And while others are mining (mining) bitcoin at home or on the so-called. farm, or using cloud mining, which is also quite interesting, you can just take and trade BTC, which is more familiar to traders.
Cryptocurrency trading is best done on reliable exchanges that are trusted all over the world. Forex is an international financial market for currency exchange. The number of individual traders around the world today is huge, and the turnover of forex is more than 5 trillion dollars a day. Recently, cryptocurrency has been added to the list of trading instruments on the stock exchange. High cost and high volatility have turned it into a new trend. To trade cryptocurrencies, contact a licensed broker RoboMarkets. RoboMarkets provides probably the most comfortable conditions for trading. You can track Ripple / US Dollar quotes https://www.robomarkets.com/beginners/info/charts/cryptocurrencies/... and other currency pairs on the broker's website. You will also get access to the leading trading platforms
KYC is often seen as a barrier to entry into the crypto market because it requires investors to provide their private information and personal data. Fortunately, no kyc crypto exchange can help those who wish to stay anonymous by only requiring basic verification. In most cases, this will allow users to trade, buy and withdraw up to 0.06 BTC a day. But there are still a few drawbacks to this process, and the top ones are discussed here.
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