Nov 21, · Bitcoin is a decentralized currency, meaning that it is not controlled by a government authority or a bank. You can transfer wealth via Bitcoin without needing to use a third crypmoney.de: Mikhail Goryunov. Apr 14, · The Best Bitcoin Trading Strategy – 5 Easy Steps to Profit. This is a cryptocurrency trading strategy that can be used to trade all the important cryptocurrencies. Actually, this is an Ethereum trading strategy as much as it’s a Bitcoin trading strategy. If you didn’t know Ethereum is the second most popular cryptocurrency (see figure below)/5(48). Oct 26, · How to invest in Bitcoin for beginners? Your country determines from where you should buy Bitcoin. There is an exchange called Binance which is idle for everyone to invest in Bitcoin. Users from India could buy from Wazirx.
Bitcoin strategy for beginnersThe Best Bitcoin Trading Strategy - 5 Easy Steps to Profit
And you are responsible for buying, selling and securely storing it. And In the coming days, you would also learn how much money you should invest in Bitcoin. You can quickly sign up for these exchanges and transfer money from your bank account to buy Bitcoins. However, the problem is for people residing in countries where there are no Bitcoin exchanges and users have no option of transferring funds from their bank accounts to purchase Bitcoins.
This makes it really hard for the users to hold Bitcoins now and with the prices surging at a rapid pace, it might be too late for many to get hold of Bitcoins. Initially, when it was not as easy to purchase Bitcoins in my country, I used a credit card to buy Bitcoins from Cex.
This worked pretty well as the Bitcoin price difference between the International market and in my country was significant. Another method that works for most countries in the world is a P2P exchange.
Think of this P2P exchange as eBay where you connect directly with the seller to purchase Bitcoins. As we discover new working methods, we will keep sharing it on CoinSutra.
This will take care of our 1. Note: If you are in a country where you have no option to buy Bitcoins, do let us know in the comment section below.
We will do our best to find a solution for you. If you search online for Bitcoin wallets, you will get plenty of options but you need to be careful with choosing the right one. With many wallets being a fraud, you will end up losing your Bitcoins. Another big mistake that even experienced users make is by keeping the wallet in an exchange.
The problem with holding Bitcoins in exchange is if tomorrow one of these exchanges shut down, you would lose access to your Bitcoin. This has happened in the past, and it may happen in the future. These exchanges are safe, but they should not be used as a wallet. Since very few countries in the world are working on the regulation of Bitcoin and Cryptocurrency in general, these exchanges can be shut down.
This happened in China sometime in September Exchanges are also at risk of getting hacked and you might lose your Bitcoin if you store it on an exchange. You can read about the biggest Bitcoin hacks here. As I mentioned earlier, Bitcoin is not like a typical currency that you keep in your bank.
This is done by having the ownership of seed word or private key. For the first-timer, it may sound very technical, but it is actually easy to understand and learn. To simplify your understanding of Bitcoin wallet security, you just need to use a well-recognized wallet that lets you, and only you, keep the seed words.
This seed word is the password for your Bitcoin. Even if you lose your phone or hardware wallet , you can recover your Bitcoin using the seed words.
We have a few dedicated resources for understanding this. Here are a few hand-picked articles for you to learn everything about Bitcoin wallet seed word and private key:. The challenge with the mobile app-based wallet is the security that is partly dependent on the security of mobile OS that makes it not so secure. The same is the case with the desktop-based wallet. The most secure way to keep your Bitcoin in a hardware wallet.
If you are someone storing more than 0. It takes a few weeks to get delivered as the demand is very high. If you are starting now, you can use a mobile wallet to store Bitcoin and later transfer the Bitcoins to a hardware wallet.
If you need Bitcoins for daily use and need to store a smaller amount, you can use a mobile wallet such as Atomic wallet. There are several options for investors to gain exposure to Bitcoin via traditional stock exchange investments. Starting in early October , after having watched several YouTube videos regarding digital crypto assets, including several with Michael Saylor, I began to implement a relatively conservative digital assets investment strategy.
This initial strategy did not include buying actual Bitcoin BTC-USD or any of the other crypto assets, but instead gaining exposure to Bitcoin via assets that have a more familiar investment wrapper. Each of these investments is discussed below. This is very convenient way to have exposure to Bitcoin, particularly if you already have a brokerage account and do not have the time to learn how the digital assets ecosystem works.
A downside to owning GBTC is that the Trust trades like a close-end fund and, as such, it can trade at a wide discount or premium. In the case of GBTC, it is known to trade at a large premium.
A summary of recent premium data from Y-Charts is found below:. Moreover, the 2. That said, the performance of GBTC since its inception has been unparalleled; consequently, my guess is no investors are complaining about the fees at this time. Notwithstanding this performance, if a Bitcoin ETF is approved by the SEC with a much lower management fee, you can be sure that investors will migrate to the lower fee offering over time, if not rapidly too, you could see GBTC start to trade at a discount if a low-cost alternative is available.
In short, GBTC is a reasonable investment offering for the novice in the Bitcoin space, but it comes with embedded risks high premium and high management fees beyond those normally bandied about concerning crypto in the popular press. It is used to basically analyze the total money flow in and out of an instrument. The OVB uses a combination of volume and price activity.
This tells you the total amount of money going in and out of the market. How to read the information from the OBV indicator is quite simple. Here you can learn how to profit from trading. In theory, if Bitcoin is trading up and at the same time the OBV was trading down, this is an indication that people are selling into this rally. The same is true in reverse if Bitcoin was trading down and at the same time the OBV was trading up. What we really want to see is the OBV moving in the same direction as the Bitcoin price.
In this regard, our team at Trading Strategy Guides uses the OBV indicator with other supporting evidence to sustain our trades and gain more confirmation. The next step comes from the Ethereum trading strategy which will be used to identify Bitcoin trades. Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of the best Bitcoin trading strategy. Your chart setup should basically have 3 windows. One for the Bitcoin chart and the second one for the Ethereum chart.
Last but not least, make one window for the OVB indicator. If you followed our cryptocurrency trading strategy guidelines, your chart should look the same as in the figure above. Simply put, we are going to look after price divergence between Bitcoin price and Ethereum.
Smart money divergence happens when one cryptocurrency fails to confirm the action of the other cryptocurrency. For example, if Ethereum price breaks above an important resistance or a swing high and Bitcoin fails to do the same, we have smart money divergence.
And the Ethereum trading strategy as well. In the above figure, we can notice that Bitcoin's price fails to break above resistance while Ethereum's price broke above and made a new high. This is the first sign that the best Bitcoin trading strategy is about to signal a trade. The same principles have been true for all the other major asset classes for decades.
Before buying, we need confirmation from the OBV indicator. This brings us to the next step of the best Bitcoin trading strategy. If Bitcoin is lagging behind the Ethereum price it means that sooner or later Bitcoin should follow Ethereum and break above the resistance.
Simply put, the OBV is a remarkable technical indicator. It can show us if the real money is really buying Bitcoin or if they are selling. What we want to see when Bitcoin is failing to break above a resistance level or a swing high, and the Ethereum already broke, is for the OBV to increase in the direction of the trend. We also want it to move beyond the level it was when Bitcoin was trading previously at this resistance level see figure below. Here is how to identify the right swing to boost your profit.
Now, all it remains for us to do is to place our buy limit order, which brings us to the next step of the best Bitcoin trading strategy. Once the OBV indicator gives us the green signal, all we have to do is to place a buy limit order. Place the order at the resistance level in anticipation of the possible breakout. After all, we told you the OBV is an amazing indicator. Now, all we need to establish is where to place our protective stop loss and when to take profits for the best Bitcoin trading strategy.
Placing the stop loss below the breakout candle is a smart way to trade. When it comes to our take profit, usually an OBV reading above , is an extreme reading that signals at least a pause in the trend. This is where we want to take profits. In the figure below, you can see an actual SELL trade example, using the best Bitcoin trading strategy.
While bitcoin day trading does have some risks, there are many ways these risks can be reduced. Here are some of the top ways to enhance your Bitcoin trading strategy.
Maybe one day our fiat money system will go under and be completely replaced by cryptocurrencies. However, as long as there are still profits to be made from Forex currency trading we encourage you to read our receipt for Forex trading success: How to Make Money Trading — 2 Keys to Success.
We hope that The Best Bitcoin Trading Strategy — has shed some light on how you can use the same technical analysis tools that you use for trading the Forex currency market to now trade the cryptocurrencies. Ready to get started? Tap here now to get the E-Book Completely Free! Please Share this Trading Strategy Below and keep it for your own personal use! Thanks, Traders! We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more.
Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow. We want to share with you some important information about Trading Strategy Guides as we move forward to our goal to help 1,, Traders find a strategy that suites them best.
We want you to fully understand who we are as a Trading Educational Website We will send out many free trading strategies for you to learn and apply to your trading system right away Our team gathers a vast amount of information and comes up with some of the simplest and easiest trading strategies to follow each week.
We are highly motivated to do this for you because we love helping people succeed who are serious about trading. Our Goals. The crypto Market is the highest market now. You can be part of the people who are earning a living through trading cryptos. With just half a bitcoin, you can make up to 3 bitcoins in a week. Contact me via kramerp04 gmail. If you want to buy more bitcoins up to 0.
Forex Trading for Beginners.