All content on this website is intended for information and educational purposes only and should not be considered as an investment advice or investment recommendation.
STEP-BY-STEP GUIDE
How to Invest In Bitcoin
Although Bitcoin's dominance has waned this year — Bitcoin now accounts for about 46% of the total value of the cryptocurrency market, down from 70% at the beginning of the year — it's still the biggest single coin by far. Anyone who goes into cryptocurrencies should be comfortable with the price fluctuation, which can be considerable even in the most established ones.
Investing in Bitcoin can seem complicated, but it is much easier when you break it down into steps. In this guide we've presented options for each step and highlight main pros and cons of this options.
Investing in Bitcoin can seem complicated, but it is much easier when you break it down into steps. In this guide we've presented options for each step and highlight main pros and cons of this options.
WHERE TO STORAGE
WHERE TO BUY
HOW TO INVEST
Cryptocurrency Safekeeping
Crypto assets are digital money, meaning they are nowhere physically speaking. This also means that it is your responsibility to ensure they remain truly and safely yours. This first step is about learning some cryptocurrency foundations and aspects, so that you understand why they need "special attention" in terms of security.
Why Is Security So Important With Crypto?
The first thing to understand is that buying crypto assets doesn't mean physically owning the coins. Because digital money is not tangible and does not exist physically. What you really own instead is called a "private key". And this is actually what you need to protect.
Private key is comparable to an actual key as it unlocks the right for its owner to access and spend the associated cryptocurrencies. In the same way as your house keys, your private key is yours and only yours, and should therefore remain private. Your private key would be similar to your bank account password. Sharing your private key would be like sharing your bank account password or credit card pin.
Private key is comparable to an actual key as it unlocks the right for its owner to access and spend the associated cryptocurrencies. In the same way as your house keys, your private key is yours and only yours, and should therefore remain private. Your private key would be similar to your bank account password. Sharing your private key would be like sharing your bank account password or credit card pin.
The first thing to understand is that buying crypto assets doesn't mean physically owning the coins. Because digital money is not tangible and does not exist physically. What you really own instead is called a "private key". And this is actually what you need to protect.
Private key is comparable to an actual key as it unlocks the right for its owner to access and spend the associated cryptocurrencies. In the same way as your house keys, your private key is yours and only yours, and should therefore remain private. Your private key would be similar to your bank account password. Sharing your private key would be like sharing your bank account password or credit card pin.
Private key is comparable to an actual key as it unlocks the right for its owner to access and spend the associated cryptocurrencies. In the same way as your house keys, your private key is yours and only yours, and should therefore remain private. Your private key would be similar to your bank account password. Sharing your private key would be like sharing your bank account password or credit card pin.
Who's control your funds?
If you hold funds on your favorite crypto exchange, it might seem like you actually own the assets on your account. After all, you do need to log in to gain access to them, right?
But it is not the case. Even worse, it's the opposite. When you leave your crypto on an exchange, it's actually the exchange that effectively owns the private keys associated with your funds. As a result, the exchange is in control. You are just relying on them to give you access to your funds when you demand it. But do you really want to trust an entity with your house or safe keys?
But it is not the case. Even worse, it's the opposite. When you leave your crypto on an exchange, it's actually the exchange that effectively owns the private keys associated with your funds. As a result, the exchange is in control. You are just relying on them to give you access to your funds when you demand it. But do you really want to trust an entity with your house or safe keys?
If you hold funds on your favorite crypto exchange, it might seem like you actually own the assets on your account. After all, you do need to log in to gain access to them, right?
But it is not the case. Even worse, it's the opposite. When you leave your crypto on an exchange, it's actually the exchange that effectively owns the private keys associated with your funds. As a result, the exchange is in control. You are just relying on them to give you access to your funds when you demand it. But do you really want to trust an entity with your house or safe keys?
But it is not the case. Even worse, it's the opposite. When you leave your crypto on an exchange, it's actually the exchange that effectively owns the private keys associated with your funds. As a result, the exchange is in control. You are just relying on them to give you access to your funds when you demand it. But do you really want to trust an entity with your house or safe keys?
The wise thing to do after buying your crypto assets is to make sure you truly own your private keys. And to safely secure them.
How to Keep Your Crypto Safe?
When it comes to crypto wallets, they are divided into two categories: "hot" and "cold" wallets.
Hot wallets are digital crypto storing wallets that are easily accessible via mobile devices, laptops, and desktops. Those include crypto exchanges, online and software wallets.
Cold wallet refers to physical (usually small) objects, such as a hardware device, in which you can store your private key
Hot wallets are digital crypto storing wallets that are easily accessible via mobile devices, laptops, and desktops. Those include crypto exchanges, online and software wallets.
Cold wallet refers to physical (usually small) objects, such as a hardware device, in which you can store your private key
When it comes to crypto wallets, they are divided into two categories: "hot" and "cold" wallets.
Hot wallets are digital crypto storing wallets that are easily accessible via mobile devices, laptops, and desktops. Those include crypto exchanges, online and software wallets.
Cold wallet refers to physical (usually small) objects, such as a hardware device, in which you can store your private key
Hot wallets are digital crypto storing wallets that are easily accessible via mobile devices, laptops, and desktops. Those include crypto exchanges, online and software wallets.
Cold wallet refers to physical (usually small) objects, such as a hardware device, in which you can store your private key
Securely start your crypto journey
Ledger's cold hardware wallet offers high level of protection, as your private key remains protected within a certified secure chip.
Buying Bitcoin Online
Since the spirit of Bitcoin is decentralization and individual sovereignty, some exchanges allow users to remain anonymous and do not require them to enter personal information. To buy bitcoin you can use standard payment methods including bank transfers, credit cards, Paypal, etc. Below you can find our picks for the best places to buy bitcoin online.
Crypto Exchange
On most cryptocurrency exchanges you will need to provide an official document ID to open an account. The type of wallet is called an online (hot) wallet, and people rely on the exchange to keep their funds safe.
An important thing to note when creating a cryptocurrency exchange account is to use safe internet practices. This includes using two-factor authentication and using a password that is unique and long, including a variety of lowercase letters, capitalized letters, special characters, and numbers.
An important thing to note when creating a cryptocurrency exchange account is to use safe internet practices. This includes using two-factor authentication and using a password that is unique and long, including a variety of lowercase letters, capitalized letters, special characters, and numbers.
On most cryptocurrency exchanges you will need to provide an official document ID to open an account. The type of wallet is called an online (hot) wallet, and people rely on the exchange to keep their funds safe.
An important thing to note when creating a cryptocurrency exchange account is to use safe internet practices. This includes using two-factor authentication and using a password that is unique and long, including a variety of lowercase letters, capitalized letters, special characters, and numbers.
An important thing to note when creating a cryptocurrency exchange account is to use safe internet practices. This includes using two-factor authentication and using a password that is unique and long, including a variety of lowercase letters, capitalized letters, special characters, and numbers.
Favorable exchange rate
Complicated purchase procedure
Digital Banking Service
If you already have some experience with stock market investing, buying Bitcoin will likely feel familiar, a bonus for those who new to crypto. Some companies that provide crypto exchange services offer to buy cryptocurrencies in several ways:
- Buy cryptocurrency straight away.
- You can use feature "auto exchange", and buy cryptocurrency in the future, if the exchange rate hits the target rate you set.
- You can set up a "recurring buy", and buy cryptocurrency at regular intervals in the future, at the exchange rate at each individual time.
If you already have some experience with stock market investing, buying Bitcoin will likely feel familiar, a bonus for those who new to crypto. Some companies that provide crypto exchange services offer to buy cryptocurrencies in several ways:
- Buy cryptocurrency straight away.
- You can use feature "auto exchange", and buy cryptocurrency in the future, if the exchange rate hits the target rate you set.
- You can set up a "recurring buy", and buy cryptocurrency at regular intervals in the future, at the exchange rate at each individual time.
Easy purchase procedure
High exchange rate
Get more from your money
Exchange money with no hidden fees. Buy crypto, gold and manage your money with spending analytics.
Person-to-Person Exchange
Buyers and sellers agree on trade terms. The exchange connects local people who want to trade bitcoins. Payment methods are determined by the sellers, you can buy coins with Paypal, via bank wire or even with cash. The platform, such as LocalBitcoins.com can offer high degree of privacy.
Buyers and sellers agree on trade terms. The exchange connects local people who want to trade bitcoins. Payment methods are determined by the sellers, you can buy coins with Paypal, via bank wire or even with cash. The platform, such as LocalBitcoins.com can offer high degree of privacy.
Сonvenient conditions
Long time search for a suitable deal
Buy and Sell Bitcoin Everywhere
Trade bitcoins person-to-person in an easy, fast, and secure way
How to invest Bitcoin
Could you and should you invest Bitcoin after you bought it? You can, and it depends on your appetite. The bigger possible return, the more it involves risk. Learn the various types of ways you can invest Bitcoin, its advantages in disadvantages.
Bitcoin Staking
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Simply put, staking is the act of locking cryptocurrencies to receive rewards. In most cases, you'll be able to stake your coins directly from your crypto wallet.
How are staking rewards calculated? There's no short answer here. Each blockchain network may use a different way of calculating staking rewards. Some are adjusted on a block-by-block basis, taking into account many different factors. For some other networks, staking rewards are determined as a fixed percentage. A predictable reward schedule rather than a probabilistic chance of receiving a block reward may look favorable to some.
Simply put, staking is the act of locking cryptocurrencies to receive rewards. In most cases, you'll be able to stake your coins directly from your crypto wallet.
How are staking rewards calculated? There's no short answer here. Each blockchain network may use a different way of calculating staking rewards. Some are adjusted on a block-by-block basis, taking into account many different factors. For some other networks, staking rewards are determined as a fixed percentage. A predictable reward schedule rather than a probabilistic chance of receiving a block reward may look favorable to some.
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Simply put, staking is the act of locking cryptocurrencies to receive rewards. In most cases, you'll be able to stake your coins directly from your crypto wallet.
How are staking rewards calculated? There's no short answer here. Each blockchain network may use a different way of calculating staking rewards. Some are adjusted on a block-by-block basis, taking into account many different factors. For some other networks, staking rewards are determined as a fixed percentage. A predictable reward schedule rather than a probabilistic chance of receiving a block reward may look favorable to some.
Simply put, staking is the act of locking cryptocurrencies to receive rewards. In most cases, you'll be able to stake your coins directly from your crypto wallet.
How are staking rewards calculated? There's no short answer here. Each blockchain network may use a different way of calculating staking rewards. Some are adjusted on a block-by-block basis, taking into account many different factors. For some other networks, staking rewards are determined as a fixed percentage. A predictable reward schedule rather than a probabilistic chance of receiving a block reward may look favorable to some.
Safe method
In most cases small return
Earn more from your crypto
With a BlockFi Interest Account (BIA), your cryptocurrency can earn up to 8.6% APY
Auto Trading Bots
Trading cryptocurrencies isn't easy. This is because unlike stock markets, cryptocurrency markets don't close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry. To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots.
Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. These bots can carry out trading actions even while you are sleeping! Because of the added possibilities that crypto trading bots bring, more and more cryptocurrency traders are turning to these bots.
Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. These bots can carry out trading actions even while you are sleeping! Because of the added possibilities that crypto trading bots bring, more and more cryptocurrency traders are turning to these bots.
Trading cryptocurrencies isn't easy. This is because unlike stock markets, cryptocurrency markets don't close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry. To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots.
Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. These bots can carry out trading actions even while you are sleeping! Because of the added possibilities that crypto trading bots bring, more and more cryptocurrency traders are turning to these bots.
Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. These bots can carry out trading actions even while you are sleeping! Because of the added possibilities that crypto trading bots bring, more and more cryptocurrency traders are turning to these bots.
Passive income
Uncontrolled process
Smart Trading Terminal and Auto Trading Bots
Advanced tools for crypto traders to increase profits while reducing risk and minimizing loss
CFD Trading
Trading on CFDs does not require massive time commitment. Starting from 30-minutes deals and leverage up to 1:10 on the trading platform, you can increase your potential profit, rather than waiting Bitcoin's value rise for months.
Find out what is leverage in short video below:
Find out what is leverage in short video below:
Trading on CFDs does not require massive time commitment. Starting from 30-minutes deals and leverage up to 1:10 on the trading platform, you can increase your potential profit, rather than waiting Bitcoin's value rise for months.
Find out what is leverage in short video below:
Find out what is leverage in short video below:
Possible high return
CFD Trading involves risks
Bitcoin Investment Platform
DEPOSIT
TRADE CFD
GET PROFIT
Instant deposit with Bitcoin / USD / EUR / ZAR. Zero fees.
Speculate on the price movement of Bitcoin or other 10+ top cryptocurrencies at your choice.
Wide range of withdrawals methods. Secure processing. 24/7 support.
10
Broker provides additional tool called leverage, that increases the trader's initial investment by a certain percentage
MULTIPLIER
BOOST YOUR GROWTH WITH
×
*
*
All investments involve risks, including the possible loss of capital
Bitcoin Investment Platform
10
Broker provides additional tool called leverage, that increases the trader's initial investment by a certain percentage
MULTIPLIER
BOOST YOUR GROWTH WITH
×
*
*
DEPOSIT
TRADE CFD
GET PROFIT
Instant deposit with Bitcoin / USD / EUR / ZAR. Zero fees.
Speculate on the price movement of Bitcoin or other 10+ top cryptocurrencies at your choice.
Wide range of withdrawals methods. Secure processing. 24/7 support.
All investments involve risks, including the possible loss of capital
Trading Platform Advantages
CROSS-PLATFORM TRADING APP
TRADERS' SENTIMENT FEATURE
BUILD-IN VIDEO TUTORIALS
RISK MANAGEMENT
Understandable and personalized. Nothing extra, only useful things.
You don't need to leave the trading platform. Wide range of videos is readily accessible at all times.
Manage your losses and profits with features like "Stop Loss / Take Profit", "Negative Balance Protection" or "Trailing Stop".
This feature tells you what the majority of traders are doing in real-time — selling or buying.
Error get alias
Find out how to start in this short video tutorial
New to Online Trading?
01:20
Find out how to start in this short video tutorial
New to Online Trading?
01:20
How to start investing?
Each registered user of Online Trading gets an opportunity to invest Bitcoin in the selected asset. The registration procedure is available to all South African traders who have reached the age of majority.
REGISTER
DEPOSIT
PICK AN ASSET
Takes less than a minute.
Variety of methods. Instant process.
Bitcoin, Etherium, Litecoin and more
The Broker You Can Trust
$ 20 000 000 +
1 000 000 +
MOMEY WITHDRAWN:
2013
FOUNDED IN:
TRADE DEALS:
PER DAY
PER MONTH
CUSTOMER SUPPORT:
24/7
Money Deposit and Withdrawal Methods
Our platform allows the use of bank cards (1-3 days), e-wallets (1-3 days) and wire transfers (7-10 days) for depositing and withdrawing funds.
Easy way to exchange 0.001 BTC to ZAR.
Easy way to exchange 0.001 BTC to ZAR.
100% SSL Secure certificate
Start Trading
After creating an account you can enter the trade room right in your browser, or download the app on a device of your choice.
$10,000
virtual & reloadable
for practice
for practice
The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Basic Information About Bitcoin
According to CPattern, the average monthly deposit of a South African trader was $ 742 in 2019. That is significantly more than in other African countries.
Conforming to local laws, cryptocurrencies, including Bitcoin, are a completely legal asset that can be used to buy goods, pay for services, and most importantly, for trading. Coins are accepted by a state bank and can be used for private transactions. Therefore, you can see how to invest Bitcoin without breaking the law.
Also, Online Trading is an officially registered company with the right to work in the international arena. The site was registered in 2013 on the island of Saint Vincent and the Grenadines has all the necessary licenses. It operates under the requirements of the international regulator.
If you want to collaborate with a reliable platform and legally earn good money, then the answer to the question: "Where can I invest my Bitcoin?" becomes apparent. Which is Online Trading.
Conforming to local laws, cryptocurrencies, including Bitcoin, are a completely legal asset that can be used to buy goods, pay for services, and most importantly, for trading. Coins are accepted by a state bank and can be used for private transactions. Therefore, you can see how to invest Bitcoin without breaking the law.
Also, Online Trading is an officially registered company with the right to work in the international arena. The site was registered in 2013 on the island of Saint Vincent and the Grenadines has all the necessary licenses. It operates under the requirements of the international regulator.
If you want to collaborate with a reliable platform and legally earn good money, then the answer to the question: "Where can I invest my Bitcoin?" becomes apparent. Which is Online Trading.
Bitcoin is a digital form of money, but unlike ordinary fiat currencies, it is not under the control of the central bank. The basis for managing the financial system of Bitcoin is thousands of computers distributed around the world. Any user can participate in the work of this system after installing open-source software.
Bitcoin was the first cryptocurrency to be announced in 2008 (and launched in 2009). It was developed by a group of Japanese programmers. It provides users with the ability to send and receive digital money (bitcoins or BTC). The main quality that makes this currency so attractive is that it cannot be censored, and transactions can be made at any time and from anywhere. Thanks to these qualities, the first cryptocurrency became very popular in the world, which positively affected its value. The price of one coin increased from a few cents in 2009 to $ 20,000 in 2012. Today, the value of the asset is 6−6.5 thousand dollars.
Bitcoin was the first cryptocurrency to be announced in 2008 (and launched in 2009). It was developed by a group of Japanese programmers. It provides users with the ability to send and receive digital money (bitcoins or BTC). The main quality that makes this currency so attractive is that it cannot be censored, and transactions can be made at any time and from anywhere. Thanks to these qualities, the first cryptocurrency became very popular in the world, which positively affected its value. The price of one coin increased from a few cents in 2009 to $ 20,000 in 2012. Today, the value of the asset is 6−6.5 thousand dollars.
Each way to make money has strengths and weaknesses. The first cryptocurrency Bitcoin has the following advantages:
- Anonymity. No one can track, block or freeze a transaction without a unique key.
- The high degree of protection. A special hash function SHA-256 reliably protects every coin, minimizing the risk of hacking.
- Transaction rate. Standard banks check a lot of parameters (credit histories of owners, personal data, etc.) before placing a deal. A cryptocurrency transaction from one device in South Africa to another (in Australia, for example) takes just a few minutes.
- Minimum commission. Bitcoin is a digital currency located only in the virtual world. Therefore, the user does not pay a large commission for using the banking system and other services. Only the minimum percentage is deducted for capacity maintenance.
- Independence. Bitcoins are on various devices in different countries and continents. There is no main regulator that can affect the system.
The cryptocurrency rate changes dozens of times a day. A successful trader can make a lot of money by making the right forecast and buying Bitcoin cheaply and selling more expensively. However, you need to pay attention to certain factors and always analyze new information carefully The course is influenced by a large number of factors:
- Sanctions and preferences. The government may impose sanctions against Bitcoin. For example, cryptocurrency is prohibited in China and India. Such prohibitions globally affect the value of one coin, reducing it. Other laws that allow legal trading make Bitcoin more attractive and add value.
- Popularity. The more people who seek to use Bitcoin for transactions, the greater its value. The fact is that the number of coins is limited, so only the most successful users can buy cryptocurrency. The emergence of new cryptocurrencies competing with Bitcoin causes an outflow of customers, which negatively affects the value of the coin.
- Security. News about hacking blockchains, theft of cryptocurrency, etc. negatively affect the cost. This is because users fear the arbitrariness of fraudsters and try to find the best options for trading and investment.
Some dishonest clients use platforms, not for trading, but money laundering. Coins obtained illegally are transferred to an account and then withdrawn. To counteract this scheme, the company takes a commission on Bitcoin transactions. It is 0.001 BTC and allows you to prevent fraudulent activities and spam attacks on the server. The commission is fixed and does not change depending on the amount of the deposit.
The basic principle of trading on binary options is to determine in which direction the value of the asset will move soon. The South African client Online Trading, who decided to trade Bitcoin, gets a lot of opportunities:
- Call / Put. Standard strategy — here it is necessary to determine whether the value of the asset will be higher (call) or lower (put) after a certain period.
- Touch / No-touch. There is a certain boundary (indicator) above or below the current value. The trader's task is to determine whether the price touches this mark (Touch) or not (No-touch).
- In / Out. In this case, there are two boundaries of value (high and low) that form the interval. It is necessary to give a forecast whether there will be a value inside this corridor (In) or leave it (Out).
- Digital options. An option with a long expiration time (up to 30 days). It allows you to carefully analyze the situation and reduces risks, but offers reduced profits.
- Turbo option. A high-risk tool with high profits, similar to roulette. Because the expiration time here is less than five minutes, and the South African trader cannot conduct a comprehensive analysis and give an accurate forecast.
Of course, no strategy will allow you to earn 100% of cases. However, most professional traders follow certain principles that allow them to become more successful.
- Information. Of course, a trader must understand what cryptocurrency is and how the market works. Trading without sufficient knowledge is similar to driving a car without a licence — in the end, you will run into problems. The IQ Option service will help you in this matter. The official website has an information section where you can read useful information about new strategies, professional advice, and market analysis.
- Training. The right start to trading is to find a demo account that is filled with virtual money and has the same functions as a real account. In addition to risk-free investments, a demo account will allow you to hone your skills, develop a winning strategy and become even more confident before becoming acquainted with the real market.
- Patience. Of course, turbo options with minimal expiration periods and large profit margins are quite attractive. However, it is better to choose long-term options for trading because this allows you to make an accurate forecast and increases the likelihood of profit.
- Cold mind. A professional trader exercises discipline and kills the excitement. He does not seek to instantly recoup, raising rates. Remember — this is the path to bankruptcy. A competent user will pause after failures. This will allow him to analyze the mistakes, draw conclusions and correct his strategy.
- Automation. Use all the opportunities that circumstances offer. The IQ Option website allows you to download and configure a special automated trading program. The robot can automatically analyze available binary options, select the ideal expiration time and close the deal with millisecond accuracy.
- Management. A professional trader never puts everything "on one horse." Even with a high probability of a correct forecast, the transaction amount should not exceed 10% of the bank. Remember — it's better to earn less than lose everything.
- Progress. Remember that trading is constantly evolving. For this reason, always keep a "finger on the pulse", find out the news and experiment with new strategies.
According to CPattern, the average monthly deposit of a South African trader was $ 742 in 2019. That is significantly more than in other African countries.
Conforming to local laws, cryptocurrencies, including Bitcoin, are a completely legal asset that can be used to buy goods, pay for services, and most importantly, for trading. Coins are accepted by a state bank and can be used for private transactions. Therefore, you can see how to invest Bitcoin without breaking the law.
Also, Online Trading is an officially registered company with the right to work in the international arena. The site was registered in 2013 on the island of Saint Vincent and the Grenadines has all the necessary licenses. It operates under the requirements of the international regulator.
If you want to collaborate with a reliable platform and legally earn good money, then the answer to the question: "Where can I invest my Bitcoin?" becomes apparent. Which is Online Trading.
Conforming to local laws, cryptocurrencies, including Bitcoin, are a completely legal asset that can be used to buy goods, pay for services, and most importantly, for trading. Coins are accepted by a state bank and can be used for private transactions. Therefore, you can see how to invest Bitcoin without breaking the law.
Also, Online Trading is an officially registered company with the right to work in the international arena. The site was registered in 2013 on the island of Saint Vincent and the Grenadines has all the necessary licenses. It operates under the requirements of the international regulator.
If you want to collaborate with a reliable platform and legally earn good money, then the answer to the question: "Where can I invest my Bitcoin?" becomes apparent. Which is Online Trading.
Bitcoin is a digital form of money, but unlike ordinary fiat currencies, it is not under the control of the central bank. The basis for managing the financial system of Bitcoin is thousands of computers distributed around the world. Any user can participate in the work of this system after installing open-source software.
Bitcoin was the first cryptocurrency to be announced in 2008 (and launched in 2009). It was developed by a group of Japanese programmers. It provides users with the ability to send and receive digital money (bitcoins or BTC). The main quality that makes this currency so attractive is that it cannot be censored, and transactions can be made at any time and from anywhere. Thanks to these qualities, the first cryptocurrency became very popular in the world, which positively affected its value. The price of one coin increased from a few cents in 2009 to $ 20,000 in 2012. Today, the value of the asset is 6−6.5 thousand dollars.
Bitcoin was the first cryptocurrency to be announced in 2008 (and launched in 2009). It was developed by a group of Japanese programmers. It provides users with the ability to send and receive digital money (bitcoins or BTC). The main quality that makes this currency so attractive is that it cannot be censored, and transactions can be made at any time and from anywhere. Thanks to these qualities, the first cryptocurrency became very popular in the world, which positively affected its value. The price of one coin increased from a few cents in 2009 to $ 20,000 in 2012. Today, the value of the asset is 6−6.5 thousand dollars.
Each way to make money has strengths and weaknesses. The first cryptocurrency Bitcoin has the following advantages:
- Anonymity. No one can track, block or freeze a transaction without a unique key.
- The high degree of protection. A special hash function SHA-256 reliably protects every coin, minimizing the risk of hacking.
- Transaction rate. Standard banks check a lot of parameters (credit histories of owners, personal data, etc.) before placing a deal. A cryptocurrency transaction from one device in South Africa to another (in Australia, for example) takes just a few minutes.
- Minimum commission. Bitcoin is a digital currency located only in the virtual world. Therefore, the user does not pay a large commission for using the banking system and other services. Only the minimum percentage is deducted for capacity maintenance.
- Independence. Bitcoins are on various devices in different countries and continents. There is no main regulator that can affect the system.
The cryptocurrency rate changes dozens of times a day. A successful trader can make a lot of money by making the right forecast and buying Bitcoin cheaply and selling more expensively. However, you need to pay attention to certain factors and always analyze new information carefully The course is influenced by a large number of factors:
- Sanctions and preferences. The government may impose sanctions against Bitcoin. For example, cryptocurrency is prohibited in China and India. Such prohibitions globally affect the value of one coin, reducing it. Other laws that allow legal trading make Bitcoin more attractive and add value.
- Popularity. The more people who seek to use Bitcoin for transactions, the greater its value. The fact is that the number of coins is limited, so only the most successful users can buy cryptocurrency. The emergence of new cryptocurrencies competing with Bitcoin causes an outflow of customers, which negatively affects the value of the coin.
- Security. News about hacking blockchains, theft of cryptocurrency, etc. negatively affect the cost. This is because users fear the arbitrariness of fraudsters and try to find the best options for trading and investment.
Some dishonest clients use platforms, not for trading, but money laundering. Coins obtained illegally are transferred to an account and then withdrawn. To counteract this scheme, the company takes a commission on Bitcoin transactions. It is 0.001 BTC and allows you to prevent fraudulent activities and spam attacks on the server. The commission is fixed and does not change depending on the amount of the deposit.
The basic principle of trading on binary options is to determine in which direction the value of the asset will move soon. The South African client Online Trading, who decided to trade Bitcoin, gets a lot of opportunities:
- Call / Put. Standard strategy — here it is necessary to determine whether the value of the asset will be higher (call) or lower (put) after a certain period.
- Touch / No-touch. There is a certain boundary (indicator) above or below the current value. The trader's task is to determine whether the price touches this mark (Touch) or not (No-touch).
- In / Out. In this case, there are two boundaries of value (high and low) that form the interval. It is necessary to give a forecast whether there will be a value inside this corridor (In) or leave it (Out).
- Digital options. An option with a long expiration time (up to 30 days). It allows you to carefully analyze the situation and reduces risks, but offers reduced profits.
- Turbo option. A high-risk tool with high profits, similar to roulette. Because the expiration time here is less than five minutes, and the South African trader cannot conduct a comprehensive analysis and give an accurate forecast.
Of course, no strategy will allow you to earn 100% of cases. However, most professional traders follow certain principles that allow them to become more successful.
- Information. Of course, a trader must understand what cryptocurrency is and how the market works. Trading without sufficient knowledge is similar to driving a car without a licence — in the end, you will run into problems. The Online Trading service will help you in this matter. The official website has an information section where you can read useful information about new strategies, professional advice, and market analysis.
- Training. The right start to trading is to find a demo account that is filled with virtual money and has the same functions as a real account. In addition to risk-free investments, a demo account will allow you to hone your skills, develop a winning strategy and become even more confident before becoming acquainted with the real market.
- Patience. Of course, turbo options with minimal expiration periods and large profit margins are quite attractive. However, it is better to choose long-term options for trading because this allows you to make an accurate forecast and increases the likelihood of profit.
- Cold mind. A professional trader exercises discipline and kills the excitement. He does not seek to instantly recoup, raising rates. Remember — this is the path to bankruptcy. A competent user will pause after failures. This will allow him to analyze the mistakes, draw conclusions and correct his strategy.
- Automation. Use all the opportunities that circumstances offer. The Online Trading website allows you to download and configure a special automated trading program. The robot can automatically analyze available binary options, select the ideal expiration time and close the deal with millisecond accuracy.
- Management. A professional trader never puts everything "on one horse." Even with a high probability of a correct forecast, the transaction amount should not exceed 10% of the bank. Remember — it's better to earn less than lose everything.
- Progress. Remember that trading is constantly evolving. For this reason, always keep a "finger on the pulse", find out the news and experiment with new strategies.