How do you trade Bitcoin?

Bitcoin trading is simple and effective. Firstly, it’s a global entity and the market value has no regards to an economy or any financial policy. Users do not have to abide by rules or regulations. Currency exchange for traditional money is operated by the government and is officially regulated. In case of Bitcoin, there are many exchanges available which operate all the time.

Since the exchange is unofficial, the price of Bitcoin varies and this would give humungous opportunities to the owners to earn. As Bitcoin movement on an online network is instant and quick, user can easily earn great benefits in a short duration.

Bitcoin Trading

In order to trade Bitcoin, the user has to create an account. After account generation, several details are verified. There are levels of verification for every new signee as per AML & KYC such as address verification, residence proof, Date of birth etc. After the verification process, user can deposit the amount in exchange. Traditional banking is an option for deposit.

A user can start trading by either buying bitcoins when they are at low price or sell them at a high price. Various trading tools such as Cryptowatch and Bitcoin wisdom keep the market updated of live prices.

There are some great exchanges available which deal in various currencies. Coinbase was the first Bitcoin exchange in the United States and the fourth largest exchange, which deals in USD. Kraken is the best exchange in terms of EUR and among the top 15 for USD. It trades almost 6000 Bitcoins per day. OKCoin is the exchange in China that deals in USD.

Bitfinex is the world’s best exchange for USD. There are almost 25,000 Bitcoins trading every day. Last is Bitstamp which world’s oldest Bitcoin exchange and trades 10,000 Bitcoin every day. It is also the second largest exchange for USD.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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