Trading Bitcoin success steps and guidelines must be understood by some beginners so that success can be achieved with big profits. Read the full details in the article below.
Recently, Indonesian people are increasingly concerned with the special meaning of investment. In the midst of the twists and turns of the uncertain economic situation during the COVID-19 pandemic, it is appropriate that we no longer be ensnared by excessive consumptive attitudes.
Therefore, trying to make an investment should start as early as possible, once with a small number first. By investing, the assets you have now will have the opportunity to increase in the future.
Bitcoin is now one of the most popular investment instruments. The attention of the world’s citizens is drawn to events and guides to successful Trading Bitcoin, because the value of Bitcoin continues to rise. Reportedly, Trading Bitcoin can bring profits up to several tens of millions / month.
Before knowing the Successful Steps to Play Trading Bitcoin for Beginners, first know the detailed information about Bitcoin.
Bitcoin is a global digital currency (global digital cryptocurrency) whose mechanism is like a decentralized peer to peer network, or means that all business transactions are not circulated, controlled, or endorsed by a single bank or government of any country.
Bitcoin is generally said to be virtual money, crypto assets, or electronic money that can be a means of payment (though limited) and can be transferred between owners.
The supply of Bitcoin is really limited in the world, which is only 21 million pieces. This limited amount makes Bitcoin ownership a limited thing that has a change in value every year. If there are more Bitcoin lovers, then the price will also go up.
Since it was created in 2010 by a Japanese mystery, the value of Bitcoin has been quite stable up until now. Just think about it, if you check the current value of Bitcoin (5/3) and compare it to the transition value in Rupiah, then 1 Bitcoin is equal to IDR 835 million.
With its phenomenal value, more and more people are interested in investing their money in Bitcoin. To benefit from Bitcoin investment, you can save (same as investing in gold), or do Trading Bitcoin mechanisms which are like stock trading.
If you choose trading, then the Trading Bitcoin success guide must be read and understood well so that profits can be achieved.
Trading Bitcoin Steps
Trading Bitcoin success guide will be easy to implement if you know the trading steps well. In essence, the Trading Bitcoin mechanism is the same as trading stocks on the world market stock exchanges.
Create a Bitcoin Account
The first time, you have to create an account in order to do business with Bitcoin owners. You can create an account via the website www.bitcoin.co.id.
Next, complete the account creation with a clarification process which is divided into filling out a complete identity, photo ID card, and a photo of yourself.
Fill in the Deposit according to the Original Currency Exchange
Fill in the Bitcoin deposit according to the traditional currency you specify (eg in Rupiah). Later, the value of Bitcoin will be converted according to the exchange rate that runs when you buy in Rupiah.
For example, if you buy Rp. 30 million, then you will get around 0.0359 pieces of Bitcoin (the exchange rate of 1 piece of Bitcoin is Rp. 835 million). Remember, there is no minimum number to start buying Bitcoin, yes. You can even buy it at a few hundred thousand Rupiah.
Start Trading Bitcoin
After having a deposit, you can start trading or buying and selling quickly. The price that runs in Trading Bitcoin is the latest price when a business transaction is made.
The Trading Bitcoin step is to diligently monitor the bitcoin price through the account that has been created. Every day, the value of Bitcoin naturally moves, it can go up or down.
When the value is down, you are recommended to buy Bitcoin again. Then if when the value of Bitcoin is rising, immediately sell it for a profit.
In addition to trading at the latest prices, you can also sell or buy Bitcoin when the price is below your preference. This step applies in the Bitcoin Spot Market.
Suppose you set up a business transaction to buy when the Bitcoin price is IDR 700 million, because that mechanism will process the purchase business transaction when the Bitcoin price is below IDR 700 million.
Trading Bitcoin Success Guide For Beginners
There are many successful Trading Bitcoin guides that you can do. One of them is as follows:
1. Determine Legal Media Exchange
In the Trading Bitcoin process as one of the crypto assets, you can do it independently or be provided with media exchange services that guarantee the security of asset investment business transactions.
The first Trading Bitcoin success guide is to choose the most trusted and legal media exchange. Make sure the media exchange that is decided is registered with the Commodity Futures Trading Supervisory Body (CoFTRA).
For example, like Indodax, Luno, Tokocrypto, and others. You can take this media exchange program on your cellphone via the App Store or Play Store.
Choose the right media exchange service that will protect your asset investment business transactions, as well as support your strength when trading Bitcoin.
2. Use the Trading Features of Media Exchange
If you are registered as a user of media exchange services, use all available features to support the Trading Bitcoin process.
Because, there are several features that you can use. Such as a price chart feature that simplifies the process of analyzing Bitcoin prices, a cut loss feature that helps prevent losses from occurring at a certain price standard, a short selling feature to set collateral profits even when the Bitcoin price is down, and additional security clarification features, there are many others.
3. Dive into the Trading Bitcoin Value Movement
Because it is not controlled by any state or agency, Trading Bitcoin has become dependent on consumers and sellers. Therefore, keep an eye on the signs of Bitcoin’s value movement.
Although triky alias requires thorough knowledge, that does not mean that the signs of increasing or decreasing prices are completely impossible to understand.
You can learn to understand the movement of the candlestick chart of the Bitcoin price, read the signs of Bitcoin fame in terms of the current trend, or understand other signs that often exist.
Sometimes, a decrease in the price of Bitcoin is a sign of a price increase in the days after that. You can explore everything by finding out some guides for successful Trading Bitcoin from several trading experts, or some of the most trusted media.
4. Buy when the price is down, sell when the price is high
Just as explained earlier, Trading Bitcoin success guide is like stock trading. Read the value movement carefully, then immediately buy more when the price drops, and know sell when the price increases.
Here, you can get the benefits. Until now, Trading Bitcoin is really very interesting because its value tends to rise steadily along with its fame. Whatever the value of Bitcoin the first time you invest, you still get a profit.
5. Know the Costs Covered
Trading Bitcoin success guide then understand some of the costs incurred if you use the services of a media exchange.
Because, each media exchange applies a different amount of additional fees. There are those who charge additional fees for buying and withdrawing business transactions in the same amount (flat rate), others have other fees that are the same according to the business transactions that have been carried out.
By understanding the fees that are priced and other provisions that apply to the media exchange, it will be easier for you to choose the media exchange that is right for you.
6. Protect Assets with Security Technology
It must be understood, Trading Bitcoin that has been done electronically has a hacking risk that cannot be underestimated. To avoid risks that result in losses, make sure you make asset protection with good security technology.
For example, take advantage of the security features of the media exchange, which includes the process of clarifying additional data via e-mail, SMS, and others.
You can also choose a media exchange that includes asset protection through insurance. This collateral will provide asset protection in the event of an event that has a loss-making nature. Even though you have to pay more fees, rest assured that this protection is important for any investment trading actor.
7. Stable in Learning to Trading Bitcoin
Finally, the guide to successful Trading Bitcoin is to be stable in learning trading techniques. Bitcoin changes that will continue to roll over requires you not to stop learning.
You can join the novice investor community, attend investment-related seminars, read investment success books, improve trading business transactions to sharpen individual analysis, and so on.
Those are some tips for successful Trading Bitcoin that you can do to earn a lot of money. After all, health is the most important asset that needs to be protected in order to always be productive.