Trading Bitcoin is for the financially advanced users. If not, you can choose to read our other tutorials before pursuing this trading on bitcoin. Trading Bitcoin comes with statuary warning, sometimes from one’s own instincts — and sometimes — from the governments’ empathetically written circulars. The digital gold has indeed swept a large section of global traders and investors towards its mouth-watering — and risky — volatility.
And as with any speculative market, Bitcoin has its shares of ills when it comes to injecting nightmares inside the traders’ mind. But if you are still interested, here is what you need to know before jumping in. A market where Bitcoin gets actively traded with other value-carrying assets is, in simple words, a Bitcoin market. It is like any other Forex bazaar where one buys a currency with another.
But unlike fiat currencies, which are minted under the confidence of nations’ economic and financial status, Bitcoin is created without keeping such influential factors in mind. 50 BTC through mathematical computations. The minted Bitcoins are either stored or are further sold to the regulated exchanges or individuals for fiat money. Where Do You Trade Bitcoin? For us non-miners, getting Bitcoin is now easier than it was a year ago.
Now, one only needs to be in a right country to purchase and sell Bitcoins, where exchanges legally act as intermediaries for currency transactions — something that also protects your funds from being mismanaged by external and internal attacks. Speaking of the personal information, you need to know about a certain KYC and AML requirement before signing up. These measures are taken to ensure that users do not use Bitcoin for anti-social activities such as money laundering, funding terrorism, drug trafficking, etc. We recommend you to cross check Bitcoin exchanges with their local government authorities, before signing in. You may also choose to read independent reviews, available online before making any decision.