With the increase in competition, beginners and seasoned investors are looking for new investment goals. The use of an accurate and authentic trading platform makes you able to beat the market and help you in managing your investment.
Whatever your circumstances are, you should select a good trading platform. There are many services provided by different trading platforms. Each platform is designed with unique features and different fees criteria. Deciding between these platforms is a difficult task and can be daunting.
This article will help you out in solving out the query, i.e., want to trade on Bitcoin, but you are not sure where or how to start? In this section, we will discuss the Bitcoin trading guide that includes,
- How to get started with Bitcoin Trade?
- List of best trading platforms.
- What strategies and tips you should follow before choosing a trading platform?
At the end of this guide, you will be able to trade on the Bitcoin platform without any hesitation and with high confidence. Because to start with the trade, there must be a clear vision behind regardless of any doubts and queries.
First of all, we will discuss and try to understand what Bitcoin Trading is?
1. What Is Bitcoin Trading?
The act of theorizing on Bitcoin’s price so that you can generate profits is known as Bitcoin Trading. Buying bitcoin is different from trading bitcoin, as both use different criteria.
To generate profit in actual means, you should buy bitcoin at a low price and sell it at high and reasonable prices. Bitcoin traders’ pure intention lies in the technique that they use bitcoins as a currency. But for the starters, they only emphasize on seeking price movements in the market by just buying bitcoins and following selling orders.
2. The Pros & Cons of Bitcoin Trading?
- Bitcoin trading services use low fees, and these platforms charge deficient amounts.
- The feature of Bitcoin is that it overcomes negative market sentiments.
- It provides a myriad of trading platforms to choose from.
- If you follow the procedure that is against the market trend, then because of high volatility, there will be a chance of losing a lot of money.
- There are not a lot of historical data you can encounter with bitcoin trading.
3. Best Trading Platform U.S:
The Bitcoin trading platforms provided by the U.S brokers are not regulated firmly and somewhat questionable. But the platform that still stands out from others is eToro.
One of the best and well-known investments and the trading firm found in 2007. It includes 10 million active users. This platform provides a great customer support service program. The overview for this platform is as follows. or check direct Insidebitcoin’s list of best trading platforms
Assets: Forex, CFD, Stocks, Cryptocurrencies, ETFs.
Minimum Deposit: Only $200
Fees: Requires a $25 withdrawal fee, no account fee, and no deposit fee is required, only $5 inactivity fee.
Special Features: It provides a social trading platform and copies trading.
Educational Material: It provides the best educational material for both starters and advanced traders.
Payment Method: It uses Paypal, Rapid Transfer, Credit/debit card, Skrill, WebMoney, Union Pay, and Wire Transfer.
4. Best Trading Platform U.K:
U.K brokers provide several investment platforms. All have unique and different features and fees. But we found out Plus 500 that is ruled out from other platforms.
It is the most recommended U.K trading platform. The unique feature provided by this platform is that it is a highly developed CFD trading platform. The overview is as follows,
Assets: Only CFDs
Minimum Deposit: about £100.
Fees: It requires £10 inactivity fees, £0 withdrawal fees.
Special Features: It provides 2000 trading instruments.
Educational Material: No educational material os provided.
Payment Method: PayPal, Credit/debit card, bank transfer.
5. What Are The Other Recommended Auto Trading Platforms:
For beginners and especially for those who ave limited free time, there are a lot of other platforms. These platforms are as follows.
- It is among the best trading platform for beginners.
- It is an automated trading platform.
- It provides an alleged accuracy level above 90%.
- It is the crypto trading platform only.
- You can’t trade on other assets, i.e., Forex or Stocks, by using this platform.
- No hidden or additional charges are available.
- It is the mobile investing platform for U.S. customers only.
- It offers a fantastic micro-investing feature, with a minimum deposit of $5.
- This platform is best for those who have a diversified portfolio investment overtime.
- Available assets for this platform are only Stocks and ETFs.
6. What Are the Strategies in Choosing The Best Trading Platform:
- Choosing an affordable platform is essential. You should be aware of trading fees, account minimums, non-trading fees, deposit fees, inactivity fees, withdrawal fees, and account fees before choosing a trading platform.
- Must choose a programmatic strategy.
- Try to connect with current new tools, platforms, and frameworks.
- Consider the type of assets; the platforms are providing.
- Check either the platform is regulated by financial bodies or not.