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The new world of Bitcoin trading can be extremely profitable as you can see from my history of accurate trades and predictions….
New traders tend to get trapped by pump-and-pump trading rooms, alternative cryptocurrencies that have zero value, or end up buying when they should be selling. In addition to joining a quality community of traders, you should also take the time to acquire the best tools and resources to trade Bitcoin. So, I put together this quick post to show you my top 5 best tools for getting started trading Bitcoin:. I predicted the downfall of Mt. Gox months in advance and actually put out several public warnings for people to take their Bitcoin off the exchange.
They make it really easy for the average person to get started with digital currencies. In fact, you can link your Coinbase account to your checking account and quickly transfer money to and from the exchange. Bitfinex — A very liquid exchange with the ability to short Bitcoin Bitfinex is one of my favorite places for shorting Bitcoin.
Aside from a few technical glitches in the past, this exchange is a reliable place for active traders. Poloniex — The best place to trade altcoins Poloniex is a newer exchange that gained popularity because they offering margin trading and shorting on many of the most popular altcoins. We can use exchanges to place trades and make money, but assume the worst. I want to hold and control them in case the shit hits the fan at an exchange.
Coinigy is an all-in-one trading platform that has charting and order execution for all of the important digital currencies and exchanges. You can link your accounts to Coinigy, actually place orders, and track your trades in a single location.
In fact, on any given day I could be on a flight, in a meeting, or on a beach somewhere around the world. ZeroBlock is a very simple and powerful app that allows you to see a simple price chart for Bitcoin.
This keeps your coins safe from hackers and thieves. One of my favorite cold storage tools is Trezor. This is a hardware Bitcoin wallet that offers ultimate security. There are many types of cold wallets. My goal has always been simple: To help you navigate this new, exciting crypto-economy and find the best investment, trading, and entrepreneurial opportunities.
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So, I put together this quick post to show you my top 5 best tools for getting started trading Bitcoin: Set up trading accounts on the best exchanges Picking the right exchanges to trade through can be the difference between making a lot of money and losing everything.
They consistently rank as one of the top exchanges by trading volume for the U. Use the best charting tools If you want to be an active trader, then you need to use the best charting and order execution tools. You can also set price alerts in case Bitcoin breaks a key price level. The safest place to store your digital currencies is in cold storage.
Trezor There are many types of cold wallets. Join a high-value trading community Most people that attempt to trade lose money. There are many reasons why such a large percentage of people lose money, but the top reason is a lack of training and education.
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