How to Make Money trading Bitcoin 1

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A lot of opportunities exist on the internet, and you can use them to enrich your pocket. On the web, you can find a lot of money making methods both new, old, outdated, etc. that is the reason why I don’t allow myself to get discouraged, I believe I also have an opportunity there.
People have made money online trading currencies such as the dollar, euros, and Japanese yen, etc. Now with the advent of technology comes a new currency that has been in existence since the year 2009 but we were blind to its reality. The currency I am referring to here is the Bitcoins.

What is Bitcoins?

Bitcoin is a decentralized digital currency. Decentralized here means not controlled by a single institution. This is quite good since no large bank can manage your money. The popularity bitcoin has gotten over the years has made it one of the world’s leading cryptocurrency. Bitcoins can now be used for most online transactions such as purchasing goods from online stores etc.

Bitcoin Trading Platforms

There are many platforms which give customers the opportunity to trade bitcoins and other cryptocurrencies. On such avenues, you can exchange your bitcoins for other cryptocurrencies and make a lot of money. Bitcoins trading is not something to jump into without prior knowledge. Ignorance is risky. Below are trusted bitcoins trading platforms.

Luno

If you are looking for a platform to trade on, I will recommend luno most especially to novice traders. It is an excellent place to start. The platform is simple to understand; you only need to open an account, deposit a sum of money (we will discuss this in subsequent lessons) and start trading. When I was first introduced to luno, it barely took me 1 to 2 hours to fully understand how the platform operates. You can spend less time though. What happens on this platform is, you buy when the price is low and sell when price appreciates. We take advantage of spread to make money.

Remitano

Remitano is equally simple to understand, however, while on luno your whole money is in the system, on remitano only your bitcoins is on the system. How trades take place on remitano is quite simple. Assuming you have created an account and have logged in, you will find the list of bitcoin seller (those who want to sell their bitcoins) and also a list of buyers and their quotes.
You can place a sell order (you will be on the seller’s list) or put a buy order (you will be on the buyer’s list). Assuming you are on the seller’s list and someone wants to buy from you, he will click the buy button next to your order. After that, the amount of bitcoin you want to sell for that person will then be on hold; it will only be released to the buyer after he or she has transferred the equivalent of the bitcoin in naira to your bank account. More on that later.

Bittrex

On bitrex you have different options of trading bitcoins and other cryptocurrencies such as etherium, Neo, Zcash, etc. you can choose to be either a short term or long term trader.
Do you have other platforms you think we should know? Let us know in the comment section. Don’t forget to share.

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