You can start learning the basics right here in the article as it talks about the trading techniques using the latest Bitcoin charts. To get started with trading on Bitcoin market you will need to understand the most basic type of tool there is in Bitcoin trading, a chart. A Bitcoin chart is a graph of a currency pair’s performance against the digital currency.
Needless to say over a certain period of time the exchange rate of Bitcoin goes up or down and it is the Bitcoin charts that show it beautifully. The ability to readand how to send bitcoin charts effectively is essential to any trader’s success. As the latest and updated charts for Bitcoin exchange rates are compiled and presented by several organizations, you must trust a renowned services provider.
If you don’t understand how to read the Bitcoin chart you may be out of luck. Not to worry though, here’s a short and sweet guide on how to fix that little problem of yours. Needless to say this is as basic as it gets. Along the right side of a graph are incremental amounts which help indicate what price whichever currency pair against Bitcoin you are looking at any given time.
Bitcoin Trading for Profits with the help of Bitcoin Charts
In the actual chart you can see where the specific pair held at what value at any given time. And lastly, the bottom of the chart contains the timeline, which can be anything between 15 minutes, an hour, a day, you name it. Nonetheless, for visual learners in the world Bitcoin charts are the most suitable trading tools available.
Thus, Bitcoin charts are very useful for trading and profitable trading decisions. Once you have the basics of reading a Bitcoin chart down, you can start to get a feel of whether a currency pair is getting strong or weaker. Over time, you will begin to learn how to utilize the timeframe feature more effectively and do profitable trading which is what you desire the most.
Taking steps to protect and secure your Bitcoin digital wallet is a very important step for any users of Bitcoin to understand fully in order to make sure that their investment in the new digital currency is completely safe. There are a number of serious problems that can arise related to cyber security if you do not take the proper steps to protect your Bitcoins in your digital wallet, and this article is going to go through some of the industry best practices for making sure that nobody can ever gain unauthorized access to the money you have in your digital wallet.
Setting A Secure Private Password
Your private password is the security key that is required every time you want to send any amount of Bitcoin out of your digital wallet. It is very important that you set up a private key that is very secure including numbers, letters, and symbols so that nobody else can ever gain access to your digital wallet, and it is even more important that you never forget or lose your private key otherwise the possibility exists that you could get locked out of your own digital wallet and not be able to access your own money.
Do Not Post Your Bitcoin Address Publicly
It is never a good idea to post your Bitcoin address at any publicly readable and searchable location on the internet, and especially not to post your Bitcoin address with any sensitive personal information such as your real name or location. This is a bad idea even if you are trying to accept donations because the public ledger known as the block chain holds the addresses for every Bitcoin transaction, and therefore if your Bitcoin address is publicly known than any of your transactions can be traced back to you directly.
Store Your Wallet outside Your Computer
There are a number of options that are available to Bitcoin investors where you can store the contents of your digital wallet outside of a computer that is connected to the internet, thereby eliminating the risk that a computer hacker could gain access to your Bitcoins using your internet connection. You can keep your Bitcoins stored in cold storage, which means that it is stored on a computer or flash drive that is not connected to the internet, or you can create a paper wallet which will print out a digital code that gives you access to your particular Bitcoin digital wallet address. By following the industry standard safety measures for protecting your digital wallet, you can be sure that your investment is secure.
Many people ask why you should invest in Bitcoin in the first place. I think there are several good reasons to be investing in Bitcoin, and hopefully I can convince you to do so as well.
Bitcoin has continued to grow in terms of adoption over the years and there are several big events this year that could increase the price of Bitcoin very quickly. The Winklevoss’ twins latest Bitcoin venture is a newly opened American Bitcoin exchange named Gemini. Based out of New York, Gemini make it much easier for Americans to invest in Bitcoin directly through their bank accounts. This could drive further demand for a Bitcoin ETF, which should be opening in months – to be listed on the NASDAQ as COIN. Hedge funds could see Bitcoin as a reasonable investment given it’s high prices in the past, and they could even seek to exploit the very volatile price patterns. Note that the total market capitalization of Bitcoin is only 5.6bn USD, a mere 0.2% of total hedge funds capital of 2.87 trillion. This upcoming large influx of capital could likely result in big gains for anyone who buys early at low prices. For these reasons I expect 2016 to be a huge year for Bitcoin, with its value soaring through the year.
There are other reasons to purchase Bitcoin beyond investing due to the potential upside. Bitcoin being a cryptocurrency, holds value just like any other fiat currency. If you are worried that your local fiat currency will lose value relative to Bitcoin, then you can buy Bitcoin now and sell it later at a higher price, increasing your purchasing power. This may be attractive if your local currency is losing value relative to the rest of the world’s currencies, due to either inflation or political instability.
Hopefully 2016 will be a great year for Bitcoin – let me know what you think in the comments below!