Bitcoin trading has been seen as one of the most intelligent ways to make money in the Crypto industry. The users can gain high profits through trading in a short period of time, however, they will have to analyze the market completely before investing. Since Bitcoin has always had liquidity, investors will not have to be worried about selling it instantly whenever the price goes up.
In fact, Bitcoin was introduced with the purpose of being an alternative to fiat currencies. It can be portrayed as a virtual or a digital currency and more businesses have started to accept Bitcoin as a payment method at present. However, the value of a Bitcoin is highly volatile which opened the pathway for users to trade it and make profits. To be involved in the trading process, the users need to visit a Bitcoin trading platform, or rather a Cryptocurrency Exchange now.
We have seen many users in dilemma about choosing the best Bitcoin trading platform for investing. If you are one of those users with the aim of trading Bitcoin, then this blog is definitely for you. We at Coinsclone have explained clearly in this blog to help you choose the best Bitcoin trading platform.
What is a Bitcoin Trading Platform?
A Bitcoin Trading platform is a marketplace where users buy, sell, or trade Cryptocurrencies. It can also be identified as an intermediary between buyers and sellers in the Crypto field and the platform has various trading options for its users. A small portion of the commission fee is collected by the Bitcoin trading exchange for specific trading activities on the platform. Once, the platform gains the user’s trust, the trading volume goes up as well making it an efficient business.
You as a user do get a lot of benefits from a Bitcoin trading platform. However, it is important to select the best trading platform according to your requirements. If you are new to this field, the first thing you will have to know is the list of top Bitcoin trading platforms in the market. We have listed these platforms below on the basis of their trading volume, liquidity factor, and the number of cryptocurrencies supported.
List of Top Bitcoin Trading Platforms
There are multiple crypto trading platforms available. If you search for the trusted bitcoin trading platform or exchange platforms, undoubtedly you will get the following options! Most of these exchanges accept fiat currencies and the best part is, you can use them from any part of the world.
Next up, as a trader, you will have to gain different ideas or strategies for Bitcoin trading.
Bitcoin Trading Strategies
For users who are newbies to the Crypto industry, we have mentioned four of the simplest Bitcoin trading strategies. These are some of the tried and tested methods and hence, users can have a look at them before trading.
- Day Trading – You can choose this if you need a short-term opportunity in the Bitcoin market.
- Swing Trading – If you want to capitalize on opportunities from market momentum you can go with Swing Trading.
- Scalping – If you want to put yourself in a position to make small, continuous profits than a big breakthrough, scalping can be the perfect one.
- Automated Trading – If you want to be a passive trader, you are free to move with Automated Trading.
Apart from these, as a user, you will need to create a trading plan that will work out in the current market.
Well, to create a plan, here are a few tips from our end.
- Head off what you want to achieve in the crypto trading platform, and break them into short and long-term goals.
- For each trade you perform, decide the potential risks that you may face.
- Pick a risk-reward ratio, so you can get high-end profit and justification for the risks.
- Choose which market you want to trade.
- Do your research on the evolving Cryptocurrencies.
- Before you start trading, make sure you are updated with the latest Bitcoin news to understand what is happening in the current crypto industry.
Once you have finalized the strategy, it’s important for you to know how to select a trading platform by seeing its user panel.
How to Select a Trading Platform?
While selecting the platform for trading, you can easily identify the ideal-suited ones according to your requirements. If you do not have an idea of how to select the trading platform, then you can look for these basic features on the platform.
So, here are the features an ideal trading platform should focus on.
Centralized, Decentralized, or Hybrid Exchange
Decentralized Exchange means that there is no intruder or middleman involved to get your transactions done. It has to be noted that Bitcoin trading doesn’t take place in decentralized exchanges while the hybrid exchange has both centralized and decentralized trading options for the users. It’s important that you choose centralized or hybrid trading platform for Bitcoin trading.
Advanced Buy and Sell Options
Professional Bitcoin & Cryptocurrency Trading platform actually means that your trading website is more effective. Therefore, websites that support unlimited cryptocurrencies, multi-languages, and multi-trading options are considered to rank at the top.
Security is the most crucial factor for any kind of trading. When it comes to cryptocurrency and bitcoin, it needs additional help. This factor can save your virtual assets. Ensure that the platform is feature-packed with the latest and advanced secure layers to stop hacking or Phishing activities.
Making sure that the platform is updated to the latest features can give you a way better experience. Also, when the number of features is high, the Bitcoin trading platform becomes a luxury for the users.
With the Margin Trading feature in the platform, users can set margins and perform a trading process that has high benefits. This is a feature that will help when the investment potential is comparatively low.
An initial Exchange Offering is an advanced fundraising strategy used by crypto investors in the industry. Whenever a platform possesses IEO Launchpad, it can be considered a better trading platform for users.
Also, before choosing a platform, check the user reviews, read the guidelines on the platform, and make a thorough analysis.
Finally, we have presented the entire guide you need for choosing the best Bitcoin trading platform. However, we would also like to offer you another working idea in the Crypto field. It’s a true fact that most people have invested in short-term profits than long-term ones. Why don’t you think differently like a millionaire?
If yes, then why not try starting a Bitcoin trading platform at the same cost? We will tell you a simple example. The current value of one Bitcoin is nearly $30,000 (at the time of writing this blog). Even if you are willing to buy one-fourth of a Bitcoin, the cost comes to around $7,500. For the same cost, you can easily create a Bitcoin trading platform by purchasing our white-label software and making huge revenue.
The cost of our White label Bitcoin Trading Software starts from $7,000 and it helps to build your trading platform instantly. Instead of relying on market fluctuations to make trading profits, start your own Bitcoin trading platform and you can be one of the successful entrepreneurs in no time.