One of the more established cryptocurrencies is bitcoin, which has shown to be highly successful over time for both experienced traders and newcomers. This digital currency has a sizable market and is traded on all possible exchanges, making it extremely liquid.
But perhaps its history of volatility and bubbles had a significant role in its capacity to draw in so many investors. When someone thinks of cryptocurrencies, they almost certainly think or talk about them because it has generated so much attention.
The coin is quite well-known in the cryptocurrency community and frequently has the highest trading volumes on practically all the exchanges where it is listed.
Why you need to be trading Bitcoin today
Before investing, it is crucial to understand why you should be trading it. Listed below are some of the benefits of Bitcoin trading.
Enjoys a Good Rapport
In 2009, it became the first cryptocurrency to be created. The coin has been in circulation for about ten years. It wouldn’t be incorrect to assume that the forerunners of anything excellent would almost inevitably inspire faith, but for Bitcoin, the road has been all about enhancing its security protocols, accelerating transaction times, and trading on as many exchanges as possible, among other things. They have essentially worked their way up, and that is a simple fact.
Recently, several government organizations have started to show interest in integrating Bitcoin and Blockchain into their operations.
Trading is 24/7
Regardless of your location, trade can happen on the Bitcoin market at any moment of the day. Because its exchanges are web-based, buying an asset doesn’t need going to a physical market. The stock markets, which open and close at set times with some transactions requiring a physical presence, cannot be considered to operate similarly.
Bitcoin is global
Almost everyone can invest in it as it is currently available in more than 90% of the world’s nations. Most businesses around the world accept it as a form of payment in a variety of venues, including restaurants, transportation providers, investment vehicles, and so on, in contrast to many other digital currencies.
Top Exchanges for Bitcoin Trading
Here are some of the top exchanges of Bitcoin:
Coinbase
The best exchanges in the world include Coinbase. They exclusively exchange a few carefully chosen coins and have some of the best security features (Bitcoin included). Their expansion into many countries has been somewhat modest because of their high quality and security criteria. The exchange is active in 33 nations as of the time of writing this article.
According to reports, Coinbase was the first authorized exchange to begin trading Bitcoin, which currently accounts for the lion’s share of their daily trading volumes.
Binance
Another well-known platform for trading Bitcoin and other digital assets is this one. Although Binance was founded in China, it relocated its headquarters to Malta, one of the nations that support cryptocurrencies.
Although this platform was only introduced to the market in 2017, it has already managed to meet the safety, trade, and customer support standards that were previously only attained by platforms that have been in operation for at least a few years.
It has continuously ranked among the top five most active trading exchanges worldwide.
Kriptomat
A product of Slovenian crypto expertise, Kriptomat has a very user-friendly interface.
Estonia is home to Kriptomat, one of the most forward-thinking tech regulators. The Financial Intelligence Unit has granted them operating permits for offering virtual currency wallet services as well as services for exchanging virtual currencies for fiat currencies.
Bitcoin Trading or Investing: What’s the Difference
The two names do not mean the same thing, despite what many people prefer to believe.
Buying Bitcoin and holding it for a long time is what is meant by investing in it. Investments in Bitcoin are made by people who, despite market corrections, think that the value of their holdings will ultimately increase.
Because they trust the currency’s philosophy, technology, and leadership, Bitcoin investors choose to HODL (yes, this is spelled right; this is a common term in the crypto world that originated from a 2013 typo for the word “hold” in the BitcoinTalk forum).
Contrarily, trading Bitcoin entails an investor buying the coin and then selling it after a brief period, which is typically brought on by modest changes in market pricing.
The distinction therefore truly resides in how long you hold your Bitcoin; investors hold theirs for a longer time than traders do, who hold them for a shorter time.
