Bitcoin trading takes advantage of the rising and falling price of bitcoin, much like you would with any other currency. When the price of bitcoin is low, you want to buy, when it’s high, you want to sell to make the most back for your investment. There are a number of excellent resources in trading software that one can use for trading in bitcoin, it’s usually best to go with one that is matched to your country although there are some international resources too.
There are two main types of traders, those in it for the long-term and those who trade over the short term. Long-term traders monitor bitcoin performance and trends over a long period of time. They will use this information to analyse when bitcoin is most appropriate to buy or sell. Short-term traders monitor bitcoin performance on a day-to-day basis.
Both types of bitcoin traders have an understanding of how bitcoin works and follow the trends on a daily basis.
Bitcoin Trading Software Platforms
On the international scale, some of the preferred (or more popular) trading software platforms include:
All of these are currency exchange sites, meaning their users need to link up their bank accounts to their trading accounts in order to be verified. Ultimately, the choice in bitcoin trading software or platforms can be measured by personal experience, but here are a few steps to follow to find the best currency exchange platform for your needs:
- Ensure the bitcoin exchange you choose works to ethical standards and has a reputable reputation
- Check what tools are available at your disposal on your chosen exchange
- Top security, data encryption and protection against invasive online threats is of paramount importance
- Do a comparison of the fees required for each platform
- Compare how easy it is to make deposits and withdrawals from your currency exchange platform
- Excellent support for customers