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How to trade bitcoin like a pro on Olymp Trade
The popularity of cryptocurrencies has recently increased. It is noticeable also on Olymp Trade. More and more people are interested in them, especially bitcoin. Many have succeeded in trading cryptocurrencies. Let’s take a closer look at bitcoin. You will learn what it is and how it all works.
Bitcoin – what is it?
The first thing you should know is that there is a slight difference in Bitcoin and bitcoin. Bitcoin with capital letter B corresponds to technology. Bitcoin with a small b refers to digital currency.
The easiest way to describe bitcoin is to say this is a digital currency that is absolutely paper-free. There is a dedicated encrypted peer-to-peer system that can secure bitcoin on a computer. And this is the only way.
Bitcoin is a new kind of asset. It can be characterised as unpredictable and volatile what means that its price changes considerably in a short timeframe.
Bitcoin – how does it work?
After you understand how bitcoin works, you will be also capable of trading other cryptocurrencies. The main thing is they are decentralised. Traditional currencies work with banks. Digital currencies do not.
Bitcoin is totally different. It is a decentralized digital currency. It is not printed by a central bank like fiat currencies. Bitcoins are generated as a reward in the process called mining. Transactions are decentralized, so money can be sent directly from person A to person B within a peer-to-peer bitcoin network. Every single operation is verified by this network of connected computers through advanced cryptography and then stored in a ledger called the blockchain.
Bitcoin – why should you trade it?
Obviously, any trader is particularly keen to invest money where he will see high chances for a big profit. Bitcoin is a quite new asset, still very promising. As mentioned earlier, it is unpredictable and volatile, but despite the risk, there is still much to do with it.
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Basically all the other assets and conventional currencies depend on the economy of the country. Bitcoin does not. It is independent of the governments and unpredictable. But high volatility is only its feature and knowing it allows to use it to your benefit. You can trade in a short time, yet make big profits.
Together with popularity bitcoin has become useful. Nowadays we can pay in bitcoins like it was any other currency. There are more and more places where you can actually use bitcoin as a payment method. You can transfer bitcoins to other individuals as well. Just be careful and check always, if the service charges any commissions or fees.
Bitcoin – what is the price?
There is no fixed price and, as said before, it doesn’t rely on the country’s economy. Supply of bitcoins is limited to 21,000,000. This simple fact puts bitcoin in the group of limited amount assets similar to precious metals or land, where everyone knows that those goods are limited. So what is it that influence bitcoin’s price? User’s demand. The more people buy it, the bigger demand and at the same time the price. Analogically, when fewer people buy it, the demand decreases and the price falls.
How to get bitcoins?
Buying bitcoins is not that complicated as you may think. With today’s technology is actually as simple as signing up for the e-wallet and cryptocurrency exchange platform. As soon as you are registered, you may deposit the money for investment. You simply use your credit or debit card for that. And then you buy bitcoins the same way you are buying conventional currencies.
After buying bitcoins, store them and wait until the price rises. You can easily keep your digital money with e-wallet as it provides a secure store. When the price reaches a satisfactory level, you may resell bitcoins in exchange for any traditional currency you choose.
The contract for difference on bitcoin.
On Olymp Trade platform you can trade bitcoins through digital options or CFD. It means you can trade bitcoins without owning them. CFD stands for contract for difference. So instead of registering in cryptocurrency exchange and signing up for e-wallet, you can trade BTC with Olymp Trade. With CFD it is easy, you simply buy or sell depending on your prediction.
There is a leverage tool available on CFD called Multiplier. What it does is multiplying your money so you can invest more than you actually have. If you, for example, have $20 and decide on the leverage of times five, you are able to invest $100. Just be careful with this option, because the same way it can bring you massive income, it can take you down.
You can trade bitcoins through digital options or CFD
Why Olymp Trade is the best choice for trading bitcoin?
The best of tools.
You are now aware of the fact that bitcoin is highly volatile. You need to make it the advantage for you and at Olymp Trade you get the best tools for that. Chart layouts, available technical indicators, detailed history quotes, expert market analysis to name just a few. But you may be most interested in market updates, which Olymp Trade offers too.
Customer support available 24/7.
The other traders experience is very valuable and Olymp Trade is making sure you join a community of traders with similar mindset. You will learn from each other, you will exchange opinions, you will share your doubts and successes in trading. And you can do it all without leaving the trading room.
Here is the basic knowledge about bitcoin itself and trading it at the Olymp Trade platform. For more about the digital currency, please check our guide to bitcoin trading. And be kind to leave your feedback in the comments section below.
Wish you a great experience!
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Olymp Trade Bitcoin Trading – Trade Options Rather Than Bitcoin Itself!
Bitcoin is word of 2020! No word was mentioned more often in media entire year. And results are obvious, from less than $1.000 in January 2020 it went up to $20.000 in December that same year! Incredible growth, that was followed by fall, but Bitcoin is still trading at high level of around 13-14 thousand dollars. Bitcoin had really bumpy ride in 2020. Investing in such volatile asset isn’t for faint hearted. In this article we will talk about trading Bitcoin options rather than Bitcoin itself. More specifically we will talk about Olymp Trade Bitcoin trading options. We explain what trading options is and how to trade profitably on volatile markets. If you are interested read on!
Olymp Trade Bitcoin Trading – Why Options And Not Bitcoin Itself?
Investing in Bitcoin seems to be good idea as this cryptocurrency has had nice rice over the past year. Bitcoin is branding itself as new gold, as a store of value according to Goldman Sachs analyst Zach Pandl. He wrote that the rapid increase in demand for bitcoin has been triggered by the growing dissatisfaction with regulated monetary systems and the current banking infrastructures.
There is truth in these words. It seem one of biggest investment banks in the world believes Bitcoin has future. And they are not alone. Mike Novogratz, Bitcoin bull billionaire is starting up Cryptocurrency Merchant Bank. This is serious business model that will deal in cryptocurrencies. From this example we can see crypto is not passing trend it is here to stay.
Similar enthusiasm toward cryptocurrencies was displayed by big exchanges. CBOE and CME have launched futures contracts for bitcoin at the end of 2020! At the beginning of this year NYSE requested SEC for approval of Bitcoin ETFs. Obviously big players are looking to invest in Bitcoin options. Futures and ETFS are nothing more than options. They show the way for others. Cryptocurrency market’s volatility makes it great market for trading options.
Source: Coinmarketcap.com – Bitcoin price in past 30 days
Olymp Trade Bitcoin Trading – What Are Major Benefits Of Investing In Options?
- Cryptocurrency market is volatile so investing in cryptocurrencies can really give you a heart attack. Prices can go up and down by 15% in single day, only to return to previous levels next day. When you trade options you can make money whether the price goes down or up. Read this article to learn about great trading strategy that works on volatile markets.
- Sometimes investors need to wait for months before cryptocurrency they invested in gains value significantly above the USD price they paid for it. With options you can make money on every trade that can be completed within minutes.
- Finally options are really great for hedging existing positions. If you are holdin certain amount of bitcoin, you can secure you position just by buying low options. If price of Bitcoin goes up you make money on Bitcoin, if it goes down you make money on option.
Olymp Trade Bitcoin Trading – Conclusion
If you are thinking about trading Bitcoin options Olymp Trade is a great broker for that. All you need to do is to click on the button below the text. It will take you to their Bitcoin page, where you can create free trading account. After that you just need to fund your account either with US dollar, EUR or Russian ruble. You can use that money to trade options in their user friendly trading platform. If you are looking for more information about Olymp Trade read our full Olymp Trade broker review.
Broker opsi biner terbaik untuk tahun 2020!