Cryptocurrencies are some of the most interesting, but the most challenging assets that you can trade in the trade market because of its high volatility and the high trading volume which is why a lot of young investors who seek thrill wants to enhance their investment skills by venturing into cryptocurrency investment.
Because of the growing number of investors in cryptocurrencies, it also paved a way for the increased day trading in cryptocurrency in the past few months which is a very good sign in this industry that is plagued with numerous issues regarding its stability and growth.
However, it was able to recover tremendously and here are some useful tips for a day trader in cryptocurrencies like you which also includes information on the strategy, the software, and the trading bots together with some specific things that new traders need to understand such as the taxes or the rules of particular markets in cryptocurrency.
Before you even decide to invest in cryptocurrency particularly bitcoin, here is a short step-by-step guide on how to properly start an investment.
- Make sure you register on your platform by filling out all the needed personal information in your email and submit it along with your name and your current address.
- You are also required to record an online video for verification purposes. Along with it is to verify your passport, your national ID card and other important documents that are needed for verification.
- Once you are already done with your registration, you should start funding your account with bitcoins. You can locate your bitcoin address in your funds’ section. It is important for you to note that you can spend the incoming funds after you successfully deposited three or more confirmations which mean that it can take for about 30-minutes until you can fully use your funds.
- Browse all your listings and place your bids on the loans that you are willing to fund. All the loans are divided into BTC or 0.01 increments which is the minimum investment per loan in bitcoin, however, it is recommended to diversify your portfolio according to the basic principles of bitcoin lending.