Online bitcoin exchanges
Today, cryptocurrency exchanges are growing like mushrooms after the rain, because the demand for their services is actively growing. Nevertheless, not all of them offer favorable conditions and are suitable for beginners. Next, we will talk about the most popular exchanges that will allow you to easily enter the world of trading.
BTC-e is one of the first exchanges that arose in 2011. The service offers real-time trading between fiat money and cryptocurrency, and due to the fact that its developers are Russian comrades, it has a Russified interface, which is very convenient for beginners. This Bitcoin cryptocurrency exchange is included in the TOP of the best services in this category and offers ample opportunities for depositing and withdrawing funds, and most importantly, provides a withdrawal in rubles, which is extremely rare.
Exmo is one of the most convenient and reliable exchanges, which is distinguished by a large trading volume and a solid spread. Exmo Bitcoin exchange also works with the ruble, but unfortunately, it does not have a demo version on which newcomers could try their hand. Therefore, it is necessary to start trading with small amounts, which will protect your capital at the initial level.
Chinese bitcoin exchanges are also very popular among users, in particular, the Bter exchange, which allows you to trade in 35 different directions.
Bitstamp is an exchange that works only with bitcoins and dollars, which is very convenient for beginners, who often get confused in a huge number of currency pairs.
Poloniex is an English-language exchange, the absence of a Russian version, which does not prevent domestic users from actively earning money on it. The exchange is notable for its reliability, low commission, convenient schedule, which can be easily configured manually.
Instructions for working on the Bitcoin exchange
After you familiarize yourself with the available exchanges and decide on the amount you are willing to trade, go through the registration on the selected service. Almost everywhere it is carried out as standard, so you should not have problems. Then replenish the account in the system – at least by $ 10. There should also be no difficulties with this – most exchanges accept a bunch of paychecks and work with banks, so there is always a choice for a novice trader.
Next, you need to understand the functionality, you can test the exchange on a demo account and understand the key features of trading. When the first acquaintance has passed, we choose the direction of trading with bitcoins from various markets. Browse through the available offers and select from them those that have the largest number of placed orders (preferably at least 10 MTC) – the more orders, the easier it is to trade in such a market. Remember that if your order is at least 20% larger than the available orders, it can simply turn the course in the opposite direction.
Among the suitable pairs, look at the statistics recently, study how the price has changed and what peaks it reached. Particular attention should be paid to how the course fluctuated over short periods of time (5, 15 minutes). If the chart goes down moderately, falling by 5-20% per day, then this currency pair is worth a closer look. A fall of more than 30% indicates a clear distrust of the transaction on the part of traders, and it is better to abandon it.
We also look at orders for buying and selling currencies. If you see that many warrants for substantial amounts (from 2 MTC), then this may indicate an imminent turnaround. It is important to learn how to correctly interpret the mood of exchange traders, and you can make money on it.
When is it worth making a deal? If short-term indicators – 5.15.30 minutes – indicate a smooth depreciation, then this is a good time for a deal. Fill out the order and buy the currency: indicate the price (market or desired), the amount (not more than 50% of the bank) and confirm the purchase.
In the event that the rate began an unpredictable movement, then you need to exit the transaction and place a new order, already for sale, but do not rush to sell the cue ball at the market rate – study the growth and decrease rate of the exchange rate and suggest what can be expected in the future – possibly if wait a bit, then you will be able not only to minimize losses but also to make a profit.
Here is a strategy you can use on the exchange and make a profit, which completely depends on the number of transactions. Keep your mind sober and do not panic, carefully conduct technical analysis and diversify by distributing money in different currencies – these rules will achieve success and profit. Be in profit!