As Bitcoin keeps shattering records in value, many new traders are looking to sign up to its network and use their knowledge and skills to make a profit. After all, the massive value that this cryptocurrency has is more than a reason why you should test yourself and invest in Bitcoin.
Since thousands of traders are registering with each passing day, we decided to help them get familiar with Bitcoin and the process of trading. We’ll be naming a few general things about trading with this cryptocurrency that everyone should know. Let’s dive into the details.
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Bitcoin is the Best Solution
We are sure that you are familiar with the fact that Bitcoin is the first cryptocurrency, but it is not the only one. In fact, there are now hundreds of cryptocurrencies on the market. But, none of them even come close to Bitcoin.
Its superiority is the reason why you should always consider Bitcoin first when thinking of investing in crypto. Its value and liquidity are much bigger than the rest of the cryptocurrencies. Not only that but thanks to the number of users and institutional interest, Bitcoin’s network is by far the most stable on the market.
Trading Sites Vs Bitcoin ATMs
After you earn Bitcoins, the logical thing that you need to do in order to make a profit is to sell them. You have two options at your disposal – Bitcoin ATMs and trading sites. Up until recently, Bitcoin ATMs were the only places where you could trade with this cryptocurrency, but ever since trading sites became popular, they are a far better option.
The reason for that is because Bitcoin ATMs are not available in every country. Moreover, those countries that have these ATMs, only have them in metropolitan areas, making ATMs hard to access. Not only that but they are known for charging fees that can be between 10-25%, which is a lot.
On the other side, every Bitcoin trading Bitcoin Bank website will provide you with tons of great services. Not only that, but the fees are extremely low and the sites can be accessed at any time and place. They utilize the latest HTML5 technology, which makes them optimized for use on all mobile and desktop devices.
A stable Internet connection will allow you to trade Bitcoins at the comfort of your home or on-the-go. To gain access to trading sites, you just need to register. The process is fast and very simple. People of all ages and skill will have no problem filling out the online application form.
There are Two Ways to Earn Bitcoins
Speaking of earning Bitcoins, most traders resort to buying and reselling it because it is simple and a more efficient way to earn it. The only con of this option is that thanks to Bitcoin’s volatility, its price can fall and you may end up losing money.
The second way to earn it is to mine it. Although this is a free way to earn Bitcoin, it too has some cons. First off, you need a powerful device that will allow you to mine Bitcoins. Secondly, this is a very hard and complicated process that takes time.
In the end, it all depends on your plans. If you are looking for short-term profits, then being and reselling Bitcoins is a better option. But, if you are in it for the long term, then mining is the choice to make.
Bitcoin Could Rise More in 2021
Finally, even though Bitcoin’s price fluctuates between $50,000 and $60,000 these days, experts believe that the cryptocurrency is yet to reach its peak. It is expected that this cryptocurrency has the potential to rise as high as $100,000 by the end of 2021.
