About Bitcoin trading..

[Dorjoy12 8962]

Now a days bitcoin is one of the biggest issues in the world..  For this reason bitcoin  become a headache for all developing countries.. Because of  the price of Bitcoin that reached from the end of December 2016 to the middle of January 2017... We all know that  in 2018 the bitcoin price was raised around 20k usd..  And from that time bitcoin start to affect on every  one.. 

 

Why is the price of this bitcoin so restrained??

 

 Its main reason bitcoin is not a local currency...  It is not the single currency of any country... For this reason, no Country  has control on bitcoin.. It is a decentralized currency, which is traded using blockchain technology...  And this is the main reason why btc  prices are out of control... Though,  developed countries, especially the American regulatory authority SEC, have stepped in to regulate Bitcoin... Though,  i think  its not possible  but we can see what happen  in future.. 

 

Is Bitcoin Trading Legit?

 

Legality is necessary  to work on any major economic issue... In any country, if an organization wants to start work, it must first get legitimacy from the government in that country... For this reason before start  trading on bitcoin, we need to know is bitcoin legal in our country  or not?? You can search About   it in google that is your country accept  bitcoin or not.. Now one thing is if bitcoin trading is not legal in your country then  can't you trade bitcoin?? If bitcoin trading is not legal in your country, you will not be able to trade bitcoin, but that is not right...  We know that Forex is not yet legal in many countries, but dont those country  people do forex trading?? Ofcourse they do but here has one thing to say that there is a little bit of complication in the country that has imposed sanctions on the country that has given legitimacy...

If you are a citizen of a country where there are no barriers to bitcoin trading... And if your country’s  bitcoin trading exchange  site trying  to stole your money then your government  will take action  against  the exchange  site..  Its means there has no fear of lose money in those country where bitcoin trading  is legal..  But if you from those country where bitcoin trading is not legal and if your money get stole by any exchange  site then you cant do against them as your country dont support  bitcoin  trading.. Its means you need to do bitcoin trading by your own risk.. 

 

Where is Bitcoin traded? 

 

 At present, there has 31k plus exchange  site where you can do trade of bitcoin according  to the calculation  of coinmarketcap.. You can choose one or more exchange  site from those exchange  site.. .  But yes, don't forget the issue of trusted and secure....
From those exchange  site coinbase was best but it has lost  It's  popularity  due to lot of limitations.. At present, Chinese trading company Binance is at the top considering security, trading fees and trusts... Though  one and half year ago Bitrrex had taken the first position ..  Also there has lot of forex market where bitcoin can be traded..  But if you want to trade Only  crypto currency  then  it will be better for you to choice those site that has created  for crypto currency  trading..

 

How to create trading account?? 

 

Its not a hard thing  to open  trading account  for bitcoin  or crypto currency .. As you read my topic  for long time then, I will assume that you have a Facebook / Twitter account...And when you use a site like Facebook / Twitter, it is not a complicated matter for you to open an account on any site.... Like other sites, you will open an account here with your email, name, mobile number information... However, opening an account is not an important issue in the cryptocurrency market but after create a account  you must need to follow some rule.. 

 

What to do when opening a trading market account :

 

You may open  lot of website  account in your life but you dont  know that when did you open  those  account...
Maybe you can say About  the year but date?? By the way, i just did fun for explain  a thing seriously  and that is "Date".. No matter which cryptocurrency market you open an account to trade in, it is important to keep track of the activities that will take place from the time you open the account to the time you use it...

Example :The exact date, IP address, email, mobile number of the day you open the account.. You must write those activity  in a safe place.  After that, if you have submitted any documents to verify your account then you must write down the date when you submitted that document and also the date when it was verified...
To increase your account security, write down the date when you activated 2FA and the backup code that will be given to you when activating 2FA... Also sometimes you can take a screenshot of how much balance  has  in your account.. 

After reading so much, maybe you are wondering what I am saying!  Yes, if there is no problem in your account then there is no problem.  But God forbid you have to update any information due to a problem in your account... Suppose your email get deactivated  by Which  you made your  trading account.. Then you will need all the above information to recover the accounts that you have in the cryptocurrency exchange market...  If one of them is omitted, you will lose hope of getting your account back.  So it is your responsibility to take care of your own account...

 

Best of luck cryptotalk members 💕   

Edited October 16, 2020 by Dorjoy12

[LUISAHG. 49]

About trading Bitcoin.
Because Bitcoin is on the internet, they are even easier to steal and much more difficult to return and track. Bitcoin itself is safe, but bitcoins are only as safe as the wallet that stores them. Investing in bitcoin is no joke, and securing your investment should be your top priority ...

[Foysal2020 459]

Bitcoin is the best currency in today's market, its price is going up in the market, now by acquiring bitcoin we can exchange our money with eobit and bring it to our own wallet, so I say I am very happy to get this bitcoin in cryptocurrency. Any country can control the price of this bitcoin by controlling its price on the market products so when investors invest they need to know about the price of bitcoin only then I think they can achieve success.

[Mehedi123 18]

Now a days bitcoin is one of the biggest issues in the world.. For this reason bitcoin become a headache for all developing countries,Any country can control the price of this bitcoin by controlling its price on the market products so when investors invest they need to know about the price of bitcoin only then I think they can achieve success

[Dorjoy12 8962]

1 hour ago, Mosharraf said:

Bitcoin Crypto is the best currency in the world, trading with Bitcoin can be profitable,

@Mosharraf without any doubt trading on bitcoin is profitable as its demand in crypto market more than another coin.. But as the btc price much high so it will not be possible for every one to hold bitcoin for trading.. Who has big capital can do trade on bitcoin hugely that give them much profit.  Like Twitter CEO Invested 150 million usd on btc..                

[Calvinpriva 17296]

6 hours ago, Dorjoy12 said:

Where is Bitcoin traded? 

 

 At present, there has 31k plus exchange  site where you can do trade of bitcoin according  to the calculation  of coinmarketcap.. You can choose one or more exchange  site from those exchange  site.. .  But yes, don't forget the issue of trusted and secure....
From those exchange  site coinbase was best but it has lost  It's  popularity  due to lot of limitations.. At present, Chinese trading company Binance is at the top considering security, trading fees and trusts... Though  one and half year ago Bitrrex had taken the first position ..  Also there has lot of forex market where bitcoin can be traded..  But if you want to trade Only  crypto currency  then  it will be better for you to choice those site that has created  for crypto currency  trading..

Well explained @Dorjoy12 there are many places to trade bitcoin and there are many methods to trade bitcoin. You have talk about Coinbase and i agree with you in 100%. I used coinbase the first time in 2017 and it was one of my best exchanges... unfortunately, they allow me only to send and receive coins but not to trade my coins! That was really bad and in just one month i shift to HitBTC, though i don't know how i left it but now i use Binance and Yobit most.

[Projectcrypto 4382]

1 hour ago, Calvinpriva said:

Well explained @Dorjoy12 there are many places to trade bitcoin and there are many methods to trade bitcoin. You have talk about Coinbase and i agree with you in 100%. I used coinbase the first time in 2017 and it was one of my best exchanges... unfortunately, they allow me only to send and receive coins but not to trade my coins! That was really bad and in just one month i shift to HitBTC, though i don't know how i left it but now i use Binance and Yobit most.

You have made a good decision mate because this two listed exchangers are very good and have earned good reputation from many people around the world within a short period of time which is due to the efficiency and advantages they have over other sites, you will definitely enjoy trading in them and th y are both strong in terms of security.

[Calvinpriva 17296]

49 minutes ago, kenan 1 said:

@Calvinpriva

As for Bitcoin trading, there are many platforms, but we have to choose the platform that gives us credibility in making money, and safety as well.
I am currently using the Yobit platform, from my experience, I found it the best

Absolutely @kenan 1 yobit is one of the best exchanges because it's safe, low fees, quick transactions and has many ways to earn profit. Yobit will catch more attention and a lot of traffic if they'll create a mobile app.

[Maaz sultan 265]

i see now a days history of this head of all the crypto currencies and found this time is not suitable for some long term investment but make trading in short terms and play safely because we dont know that the price of bitcoin when drops and we get loses .

[arqjairoc 112]

It is one of the safest ways to invest your money, bitcoin does not have a great possibility that its value will drop a lot, also it is most likely that its value will rise to a great point.

[Dorjoy12 8962]

15 hours ago, Calvinpriva said:

unfortunately, they allow me only to send and receive coins but not to trade my coins!

@Calvinpriva as coinbase is a american exchange site that is why its only accept trade in their exchange site for those country where crypto currency is legal... If your country dont accept crypto then you cant trade on Coinbase.. 

 

12 hours ago, eliottalderosn said:

most of cryptocurrencies depend on decentralization, yet they don't have that value in the market.

@eliottalderosn You are right my friend..  Though most of crypto depend on decentralization system but those crypto currency project and road map is different  than any success currency like bnb...  I have made a topic about how to find out good crypto currency.... You can check the topic too               

[Calvinpriva 17296]

2 hours ago, Dorjoy12 said:

 as coinbase is a american exchange site that is why its only accept trade in their exchange site for those country where crypto currency is legal... If your country dont accept crypto then you cant trade on Coinbase.. 

I feel bad about this! I love coinbase because it's the most trusted exchange and there are many services i use which they only accept coinbase commerce but unfortunately, i can't use it as well! @Dorjoy12

[Dorjoy12 8962]

9 minutes ago, Calvinpriva said:

I feel bad about this! I love coinbase because it's the most trusted exchange and there are many services i use which they only accept coinbase commerce but unfortunately, i can't use it as well! @Dorjoy12

@Calvinpriva recently coinbase sent us a email about developing its term and conditions in November.. So we can hope that something special feature they will added or they will change the conditions of old feature.. Also i read a article that on the next update of coinbase they will improve the transaction of btc to sent in external account and the transaction time will decrease then than now..                       

[George10 9932]

@Dorjoy12Well explained mate about the trading of bitcoin it's such a great topic you have come up with and to add on as talking of my country trading of bitcoin is considered a legal tendency of which it's at one's own risk and that means when one loses his money through hack attacks or scamers vai this trade,he or she can't seek help from the government,just as you said in your topic though many opt this type of trading because it's profitable and there are many ways to trade vai exchanges and peer to peer platforms like Localbitcoins.

[Dorjoy12 8962]

17 hours ago, eliottalderosn said:

@Dorjoy12 I checked it too. Indeed there are other factors that help a coin become successful.

Road map for BNB is so great and that's one of the reasons it is getting more popular and stronger day by day.

I believe in the project and I feel it will be a successful journey for the team behind it and everyone who are investing in it

@eliottalderosn  if you talk about bnb project then i can say bnb project team lead a great planning to make more good about bnb price so that they submit the coin burning project of bnb.. Look the 13th burning of bnb and for the burning bnb price increase hugely.. .. In future all the bnb holder or investor will be in profit.. 

[Dorjoy12 8962]

12 hours ago, eliottalderosn said:

that's why I believe it will be one of the top 3 cryptocurrencies in the future

@eliottalderosn as crypto currency market always pump and dump and any time currency position get changed so it can be happen too in future.. As now BNB coin position around 6th in Coin market so there has a chance to come in number 3 position in crypto market sooner or later..      

[iloveyobit 6599]

On 10/16/2020 at 10:36 AM, Calvinpriva said:

hey allow me only to send and receive coins but not to trade my coins! That was really bad and in just one month i shift to HitBTC, though i don't know how i left it but now i use Binance and Yobit most.

why you dont try to trade your ut bitcoin in other exchanges like binance , huobi and also yobit , i think these exchanges is much better and simple and also greater volume than Coinbase exchange .

[duncun007 3577]

thats a very good post, but i think this post would have been better if it was in beginner section, its all the information newbies will want to know, and even i didnt know there are 31k exchanges! because i know only a handful of exchanges so far.

[magd 5231]

We cannot know the legitimacy of Bitcoin from government decisions because many governments do not know any idea about Bitcoin and why it was launched for circulation and perhaps this leads to a waste of time, but as for the price, the great rise has a reason which is that mining rewards decrease with the increase in the demand

[Zaman zumii 50]

Now a days bitcoin is a headache for every person...there are 31k plus sites of bitcoin trading....if bitcoin is legal in your country then you should trade the coin if not legal in your country then you should not follow the bit coin trade

[minisrt_black 1112]

I would not risk and trade bitcoin , I would rather store it and wait for the price to rise so that there is a profit

[mohamedpc1 2213]

Thank you for this valuable information that you provided to us through your article. I hope that it is from your own effort and not copy and paste so that the topic continues in the forum because there are many beginners here who are ignorant of the meaning of the word bitcoin because they entered this field to make profit without knowing the field of digital currencies .

[Abdulrahman3 1252]

It is a good thing to collect all this information about trading in cryptocurrencies in one post, but I have a question: Is using a platform not recognized by the state for trading is safe in a country that recognizes Bitcoin?

[Yomose 3704]

3 hours ago, Jaak05 said:

Bitcoin is the biggest problem in the world .. This is why Bitcoin is a headache for all developing countries, any country can control the price of this bitcoin by controlling the marketed products so when investors invest they need to know about the price of Bitcoin I think they can succeed.

Nice one, this is a good start to trading, beginners can gain from it, but it does not indicates somethings about trading, how trading can be so risky and listing the rules to reduce the risks. It also do not indicator more of technical ways traders should have as strategies. But just for people that really want to open a trading account, the write up is good. 

[ABIR21 426]

I think bitcoin trading is more profitable compare to any currency.  But the main problem is capital. Bitcoin is overpriced currency.  But if anyone can buy it is low price, he can make a huge profit.