What is Bitcoin
Bitcoin created in January 2009 as a digital currency by a mysterious person named Satoshi Nakamoto.
It is used for online payment mechanisms under decentralized authority.
bitcoin sv wallet has no physical appearance, but all the transactions done are verified by a massive amount of computing power. It is not available in any bank or government and not valuable as commodity or equity, but it always on high in the list of cryptocurrencies and triggers the launch of substantial virtual currencies.
Bitcoin is used as a mode of payment for sale and service.
You can do trading in this digital currency and create high benefits or profits on your investment. Let's discuss step by step how to trade in Bitcoin amd other digital currencies.
Trading simply means, to buy something at a low price and sell at high in the market.
Bitcoin trading is also the same to buy the Bitcoin at low and sell at a high price, as we talk about the cost of Bitcoin, There is no single price of Bitcoin in the global market.
The value of the it determines by the people engage in it. But you have to understand the volatility (ups and downs) in Bitcoin trading.
Before you start trading in Bitcoin, you must be aware of how it works. It works on Blockchain technology .
First, you have opened a trading account in a regulated digital currency platform.
Nowadays, there are many regulated platforms available in the market; some of the famous are Binance, Bitstamp, Coinbase, Kraken, and Shapeshift. You can start trading after opening your trading account, and they will charge a small fee for the services they are providing.
The beauty of this digital currency is that you do not need to buy the whole Bitcoin to start trading. You can begin by purchasing the smallest part of it named «Satoshi»(0.00000001BTC) and get familiar with the process of trading.
You can purchase it from any currency in the world, and Try to enter at a low level of Bitcoin and hold it for some duration and try to sell at a good margin. The exchange only charges their necessary fees, as there is no central authority involved in it.
You can also buy other Crypto currencies in the exchange of it, as it is legal by a decentralized authority. Suppose you have 0.0001 Bitcoin, and you want to purchase Ether. You can transfer your Bitcoin in Ether online with the permission of where your account has opened.
After done with trading with it, you can without or cash your Bitcoin in your currency. By paying a small fee, you can transfer it to your account. The process of transfer this to your account might take some time. We advise you to be careful at the time of trading, the amount you enter to purchase and bid for the sale.
People make mistakes in it very commonly. You have made some margin between the profit as you have to some fee for a trading account and the withdrawal of money.