In order to start trading cryptocurrencies, you’ll have to have done your research – you will have decided which are the best cryptocurrencies to invest and you will have chosen your trading software. It is highly unusual for traders to operate without trading software, as the program streamlines and automates what would otherwise be extremely complex and time-consuming procedures. Also, cryptocurrency exchanges are open 24/7, unlike traditional stock exchanges, which close for the night every day. It is impossible to remain awake forever to watch the ups and downs of Bitcoin.
Open an account
The next step is to open an account.
Registration with one of the exchanges, such as BTC Loophole is quick and easy. Registration requires basic information like full name, password, phone number, country of residence, and email address. The entire process should take less than 3 minutes.
Generally, you will require to deposit a minimum of £250 into your digital wallet. All the common credit cards plus PayPal or Skrill, etc are compatible. You can usually invest as much as £x,000, but it is recommended that you start with a smaller amount until you gain some experience.
Usefully, all the major trading softwares offer a demo trading mode, where you can familiarise yourself to the program and the trading environment before going live with real money.
You can set up controls like max amount to stake per trade, risk parameters, stop loss level, etc., in advance of going live.
When you are ready, go live and your software bots will take over, trading on your behalf even while you sleep. Withdrawing cash is straightforward and funds will be in your account in 24-48 hours.
There is no cost to using the software or for withdrawing funds, although there is a typical commission of around 1% flat rate on transactions.
Author: Dov Herman