Bitcoin trade volumes are on the rise, showing the increasing interest towards the first crypto. Which are the helpful tips for BTC traders and which platforms should newcomers select?
The year 2020 made the attitude towards cryptocurrencies upside down. Digital assets are nowadays understood as “safe harbors”, as they are more beneficial than stocks or even gold. Major investors are involved in the Bitcoin trade process, understanding the perspectives of the first crypto. According to Grayscale Investments, 55% of the United States investors are interested in buying BTC.
Bitcoin is still among the trends
In October 2020, the world celebrated the 11th anniversary of Bitcoin. Crypto skeptics had been yelling that the first crypto is old-fashioned, but the statistics show that Bitcoin is still among the recent trends. Within the year BTC price has skyrocketed by 115%, and this growth led to the increase of the Bitcoin trade market. On November 6, the Bitcoin 24 hours trading volumes surpassed $75 billion, and that was an all-time high index.
The number of traders is on the rise due to several reasons. Some people wish to get profits and analyze the process to comprehend which is the best way to trade Bitcoin. Other people prefer crypto trading as a mechanism to save their money. Bitcoin is not influenced by inflation, while USD has lost 10% of its value within the last 6 years. As for the other fiat currencies, inflation is even more significant.
Furthermore, crypto trading empowers a person to purchase and sell assets non-stop. Does Bitcoin trade on weekends? That is a widespread question of newcomers. The crypto market is fully decentralized; hence, trading never stops.
Factors to take into account to trade Bitcoin online effectively
Newcomers frequently consider Bitcoin trading as a mix of luck and speed, but crypto trading is all about knowledge, analytics, and deep comprehension of cryptocurrencies as tools to change the world.
Which are the most important factors Bitcoin traders should take into account?
1. The more investors are interested in BTC, the higher perspectives this crypto has. For instance, the Fidelity research shows more than 36% of institutional investors add Bitcoin to their investment portfolios. Furthermore, according to experts, global corporations are expected to invest in crypto in 2021.
2. Breaking news may drive the Bitcoin price. For instance, if a trader finds out some global corporations announced to accept Bitcoin payment, the price of the first crypto will probably grow.
3. Successful traders base their predictions upon several strategies. Some newcomers are interested in how to day trade Bitcoin, and this strategy is among the most complicated, requiring profound analytics. Long-term investments are regarded as a successful path as well.
Beginner traders have two solutions: broker trading platforms or crypto exchanges, and the second way is better, from the viewpoint of safety and security.
For instance, the B2BX crypto exchange meets the EU legislative norms and laws; hence, all investments are protected. Furthermore, traders may easily deposit their account or withdraw funds through several options like banking cards, wire transfers, etc. Some investors are interested in how to trade Bitcoin for cash when they need fiat money. B2BX offers the most beneficial fees. Customers get 24/7 support to solve any problems instantly.
Bitcoin trading is among the most promising ways to “be in the black”; meanwhile, professionals only are going to succeed!