If you have some money that are unemployed, you will be surprised to see what could be done with that money
Only the amount of money in the form of Bitcoin, you can start trading (buying and selling) digital currency (cryptocurrencies) from now. You do not need to pay a commission to the broker, does not need to pass through a third party, and no longer need to worry about the presence of any obstruction to start trading. You need to have is a little part of Bitcoin. If you dare to sacrifice some percentage of your money, then Invest into the world of digital currency.
I started trading with Bitcoin for less than $ 40 (or 500 thousand rupiah)
But gradually, I Bitcoin trading reached 5.5 Bitcoin (which is roughly a $ 5000/65 million Rupiah at the time) in less than 1-2 months. It should be noted that this does not mean trading cryptocurrency it is very easy to do. Losing some of your money is a natural thing in investing or trading, but you can certainly minimize the risk of loss by applying the correct strategy. The reality is if trading is a way that is very easy to do and without risk, then surely everyone will become a trader. However if you are someone who is patient and act based on an analysis of market trends and strategies mature, then you will surely like digital currency trading.
What the digital currency?
Digital currency (or cryptocurrency) is more than just digital numbers are used by people as money. Technology behind Bitcoin digital currency as the world's first decentralized is a great book that can be accessed anywhere and at any time by the public as long as they are connected to the net. Cryptographic technology called Blockchain that makes Bitcoin, litecoin, Darkcoin and coin-coin alternative to other Bitcoin known as "Cryptocurrency".
Cryptocurrency is actual Wall Street
As ledger decentralized, Blockchain will not be controlled or manipulated by any party, organization or institution. Designs that are in the technology makes all transactions running in virtual and without error, and not only can be used as a tool to transfer the ownership of digital currency, but also for the transfer of assets, shares, contracts, commodities, and escrow services. This technology has the potential to change the future of the financial world, where the market could become more democratic and removes the 'banksters' (a term for dishonest people who work in the banking industry).
If you only ever hear a glimpse of Cryptocurrency, probably technical terms this can leave you confused
It is important for you to learn about cryptocurrency, but if you are only interested in using it as a means of trading and investing, then you just have a basic knowledge of business, consumer demand, and economic law standards to stand in position or even higher than the other trader ( at least for the moment). Most traders that exist today are the people who already use cryptocurrency since its inception, the miners (miners), programmers and people who understand the problem than the technology or the business world market. Because they are more focused on crypto community and the technological innovation that makes coin-coin is getting famous, you could have a greater chance for you to think beyond them.
Get your first Bitcoin to start trading
There are many markets (exchanges) that provides a place to buy and sell cryptocurrency with USD or currencies of other countries, but we recommend you buy Bitcoin cryptocurrency advance than others. With some Bitcoin, you can easily exchange it into another digital currency whenever you want through the markets that serves the sale Bitcoin with alternate coins (other than Bitcoin digital currency). You need to remember that you do not need to buy Bitcoin as a whole (because the price is quite expensive, one Bitcoin is already worth $ 390 at the time this article was written). You simply buy some part of it, or what is known as Satoshi. For example, 500 thousand Satoshi was equal to 0.005 Bitcoin (in other words, to buy 500K Satoshi, your only costs less than $ 2). One of the safest places to buy Bitcoin with coinbase.com USD is passing, but there are many other places that you can choose to buy Bitcoin with a cheaper price or in accordance with your country's currency.
Once you have a Bitcoin, it's time to find a market / exchange is good for your trading
Digital currency market that I think most unreliable is Bittrex.com. Obviously there are many other markets in the world-some good, some bad, and some have gone bankrupt, like Mt. GOX. Many people are reluctant to have cryptocurrency because a lot of bad news affecting these markets such as the case of exchange that suddenly go bankrupt, or coin-coin customers were stolen and lost somewhere. But personally, I see it as a way for new markets appear to be growing at a more mature preparation.
Word spread very quickly in the world cryptocurrency, so continue to monitor the news every day
Follow the news on Twitter to find out the latest developments for companies and markets cryptocurrency often discussed there. You can also read the info on forums devoted to the topic cryptocurrency or follow the related hash tags. Information and news can be your strength, and rumors can also be an opportunity for you!
Once you have a Bitcoin in exchange account, you can start trading
However, before you randomly choose and observe other digital currency charts, I recommend you to at least do some research for a while so as not 'blind' when trading. The best way to learn about each digital currency there is to add the keyword 'ann' after the name of the coin. For example, write "Cannabiscoin ann" in the search box. The word 'ann' here means announcement or news / announcements. With these keywords, you can directly connect to the existing forums in bitcointalk.org and you can mengaksesthread special about the coin.
Thread as it will show the important information you need to know as the total supply of existing coin, detailed technical issues, the development plan, the vision and mission, community speculation, etc. Plus, you can also go back to Twitter because the site is not just a great place to find news, but also to keep track of all the web pages and forums related to coin it.
Trading Basics
In researching a market traders will usually refers to fundamental analysis. If you can look for the right information in the appropriate time and understand exactly how the information relates to the market, it will be easier for you to predict market trends-especially to read whether the coin price will go up or down. In addition to fundamental analysis, you can also use technical analysis. Technical analysis is tantamount importance, but is more focused on how to read charts and find certain patterns in it-for example, when the price reaches a certain point, the coin will decrease the price.
The basic thing that is most important to remember: Buy when prices are cheap and sell it back when the price is high
Why? Because people who do not sell their coin when rates are kept 'pumped' up (pump) will not sell their digital currency at lower prices again. So it is clear that when the price of coin you are buying is moving up steadily, then it is a good time to sell your coin back into Bitcoin. And if you choose this coin has good prospects and you want to invest for the long term, then make sure you buy the coin when the price is down (dump). Sometimes, it is easier if you focus on coin-coin collecting to buy more good than Bitcoin for a nice coin surely the price will rise again.
And that's how the trading process is running.
This article is a translation of "How to Make Money Trading Cryptocurrency" written by Altcoinplayer
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