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Step-by-step Guide in Learning Bitcoin Trading

Bitcoin poses a serious challenge to traditional currencies as the world’s first cryptocurrency. However, considering its price history, there should be a lot of volatility along its path. Below ar

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Bitcoin poses a serious challenge to traditional currencies as the world’s first cryptocurrency. However, considering its price history, there should be a lot of volatility along its path.

Below are four steps that will help you trade Bitcoin:

  1.     Mechanisms to deal Bitcoin

Bitcoin can be dealt with in two ways: buying the Bitcoin itself and hoping to sell it at a profit or theorize on its value without ever owning it. CFDs work in the latter sense. What a CFD does is enable you to deal with a contract that is constructed on the prices in an underlying market. This is a purchased product, which means that you need to initially put down a small deposit and again disclose a much more prominent position. This can appreciate your profits. It should be noted, however, that it has the same effect on your losses.

When trading Bitcoin, do I need to use an exchange?

 To take a position on the price of Bitcoin, what you need is an IG trading account. However, when you deal with bitcoins CFDs, you do not interact directly with an exchange. As an alternative, you trade the sell and buy prices sourced from a couple of exchanges on your behalf.

Same as traditional exchanges, Bitcoin exchanges work the same way. This enables investors to purchase the cryptocurrency from or dispose of it to another person. There are some advantages when you cut them out of the picture entirely.

Their service and matching engines are unreliable. This can result in reduced execution precision or shelving of markets.

They inflict restrictions and fees on the withdrawing and funding from your exchange account, while accounts can take long periods to acquire.

When you trade Bitcoin CFDs, you acquire considerably improved liquidity at the touch price you’ve chosen. When you sell and buy from the exchange directly, you will have to accept multiple prices to finalize your order.

  1. Factors that change the price of Bitcoin

The volatility of Bitcoin makes it an attractive opportunity and dealing with cryptocurrency.  Due to the Bitcoin market operating continuously, this can happen at any time of the day. Bitcoin is free from the various political and economic concerns that influence the traditional currency. However, due to its young age, there remains a lot of uncertainty uniquely based on the fact that it’s a cryptocurrency.

Any of these factors can impact its price suddenly and significantly, and for this reason, you need to research and know-how to navigate these risks that may come up.

Bitcoin supply

Even though there are a limited number of bitcoins, the last Bitcoin will be mined in 2140. However, the availability of Bitcoin changes as to how they enter the market. For example, their holders’ activity, dealing with them in Bitcoin slots, also affects this availability.

BTC market cap

The Bitcoin market value is recognized to be both an impactful and opportune because traders will want to jump on a surging opportunity, or not.

 Industry adoption

What remains to be seen is the impact Bitcoin will have on the corporate stage as it is yet to be accepted generally by most businesses around the world.

  1.     Trading strategies of Bitcoin

Day trading

When you day trade, there is a need to take a position that considers an accidental movement in the short term. It would help if you also closed it out by the end of that specific trading day. This is an effective strategy if you desire to acknowledge opportunities in the short term in the Bitcoin market. This is in light of emerging patterns or developing news.

Scalping

This is when you place intraday traits frequently one small movement in price.

This is a worthy strategy if you desire to place yourself in a position to form continuous but small profits. This is when you do not want to wait for a significant breakdown or break out.

Swing trading

This is when you capture trends the moment they are made and clutch on to that position up to the point the trend shows the signs of a reversal or runs its course.

This is the preferred strategy for you if you decide to take advantage of this chance from market momentum.

Automated trading

It is advisable to automate your processes in trading and react to changing market conditions on your behalf.

This strategy is best used if you consider yourself a passive trader.

  1.     The steps to trading Bitcoin

Open an account

You will need an IG trading account if you want to trade CFDs. It is an easy task to do, and you can go ahead and take your first position when you have added funds to your account.

Establish a trading plan

It is always a smart move to establish a trading plan. This works hand in hand with your chosen trading strategy. If you’re new to the market, you need to consider having these two. A trading plan will assist you in making objective decisions regardless of the stakes being high. This mixture that you do not leave trades open for long or close them early.

Do your study

To understand what’s next for the cryptocurrency price, you need to do your research and speed with the latest Bitcoin news. It is essential to do this before you start on your trading journey.

When you are looking up to interpret how Bitcoin behaves, charts are an important tool. Past data is an excellent indicator of how the market is progressing. The comparison of time frames can also provide better insight as to the emerging patterns and trends.

Place a trade

Using a web trading platform, you will be required to place a trade once you have decided on your position.

You need to enter the deal tickets the amount you have decided to stake on your trade.

While you do this, you have an option of defining your clothes conditions: you can set a stop to terminate your position when the market is not in your favor up to a certain amount or a restraint for when it’s move is in your favor. Always check yourself; limits and stops are important to sound risk management.

Note that, if you anticipate Bitcoin to appreciate, you then ‘purchase’ the market. If you believe that it will depreciate, you will ‘sell.’

To finalize your position, you need to place the reverse of your initial trade. This means that if you purchased at first, you’d have to sell the same amount;

If you had sold, you would not need to buy it. You will be required to click sell or buy to finalize your trade as your deal ticket is automatically filled.

References

  1. How to trade Bitcoin: Get to grips with the basics of how to trade bitcoin with our step-by-step guide.
  2. Cryptocurrency trading: Find out how to get started trading cryptocurrency in this step-by-step guide. By Andrew Munro.

Disclaimer: This is a paid post and should not be considered as news/advice.

Source: https://eng.ambcrypto.com/step-by-step-guide-in-learning-bitcoin-trading

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

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Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

bitcoin halving
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Blockchain

Santiment Reveals Top 10 Ethereum Projects by Developer Activity

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Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

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Blockchain

Blockchain in Sports Betting

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Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally  due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.

Blockchain In Sports Betting Infographic
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