If you have ottenere bitcoin stock money lying around, you’d be surprised what you can do with it. With just a few dollars worth of Bitcoin you can start trading cryptocurrencies right now.
There are no broker fees, there are no middlemen to deal with, nor really any barriers to entry or red tape. All you need is some percentage of a single Bitcoin. There is no reason not to try it out. If you can accept risking a few dollars, it’s a great way to get into cryptocurrency. I gradually traded my way up to 5. This isn’t to suggest that trading is something that’s easy or effortless. Losing money is an inevitable part of trading and investing, but you can certainly minimize risk and loses with the right strategies.
The reality is that if trading were an easy, risk free way to make money, everyone would be a trader. Cryptocurrency is more than just a bunch of digital numbers that people have decided to use as money. The technology that was brought forth by Bitcoin is essentially a decentralized public ledger system, known as the Blockchain. Cryptocurrency is the real Occupy Wall Street Being a decentralized ledger, the Blockchain can never be controlled or manipulated by a single institution. If you’re just getting your feet wet with cryptocurrency, all the technical jargon can seem overwhelming. They’re focused on small technological innovations that help build hype for a coin in the short term, without giving much thought about how the coin will exist outside of the exchanges and crypto community.
This gives you a huge advantage. There are some exchanges that will let you purchase specific cryptocurrencies for USD, but it’s a better idea to buy Bitcoin first. With some Bitcoin, you can trade into and out of every other cryptocurrency on the market, on every crypto exchange. Now that you have some Bitcoin, it’s time to find an exchange. The most reliable exchange I’ve found is Bittrex. There are other exchanges: some are good, some are bad, some have been shut down already — the Mt.
Gox scandal might ring a bell. News spreads very quickly in the crypto world, so check news feeds daily. You will usually see smoke before there’s a fire, as long as you pay attention to the news on twitter. Crypto exchanges and businesses are being talked about on twitter. Check in on twitter and crypto forums daily, follow hash tags, see what people are talking about. Information is power, news is power, and rumors are opportunities! Once you have Bitcoin in your exchange account, you can start trading.