3 Bitcoin Trading Types and 5 Bitcoin Trading App Options

Bitcoin Trading is an activity to earn profit from crypto currency. Bitcoin is one of the popular currencies because its price is always increasing and can provide high profit opportunities.

CoFTRA itself records 229 legitimate and valid cryptocurrencies, one of which is Bitcoin, which is difficult for us to predict. We do our own trading by buying or buying when prices are low and selling or selling when prices are high.

Various types of Bitcoin Trading

This trading activity is divided into 3 different types, namely day trading, swing trading, and scalping. Trading is not the same as mining or mining Bitcoin which requires sophisticated and expensive computational tools. The following is an explanation of the types of trading in the crypto world, especially Bitcoin.

1. Day trading

The first, Day trading is a trading activity that we do on a daily basis. Traders will sell and buy coins on the same day or a maximum of one day. This method requires traders to be very careful and observant in seeing Bitcoin price movements.

When there is an opportunity to sell at a higher price if you compare it to the purchase price, the trader will take that opportunity and immediately make a sale. It takes totality of time and thoroughness to be able to carry out trading activities with this type of day trading.

2. Scalping

In the second place, the next type of trading is more extreme if we compare it to the type of day trading. A trader only has a few minutes to be able to sell his coins. As long as the trader has made a profit, even if it is only a little, Bitcoin will be sold immediately.

Bitcoin Trading with this scalping method we only pursue a little profit but we can do it continuously and repeatedly. Profits that are small in value but are obtained consistently and repeatedly will certainly be more promising than large profits but only once.

3. Swing trading

The last type of trading is using the swing trading method. Swing trading itself is the most common method among Bitcoin investors. In this method, traders will observe market trends or price charts.

We can do observations without having to monitor every second or every day. Traders will only monitor moderately and will prefer to hold assets for a fairly long time. After reaching the desired profit, the new trader will sell the coin.

Various Apps for Cryptocurrency Trading

To be able to trade, traders need to use an application that is specifically present for trading activities. There is a huge selection of applications available. However, make sure to choose a credible application that has obtained permission from CoFTRA.

There are at least 13 choices of applications for cryptocurrency trading that you can choose according to and use to profit from activities Bitcoin trading, some of them are:

  • Indodax
  • Tokocrypto
  • my account
  • Door
  • Luno

In addition to these five applications, there are many other application options. Make sure the app you choose to trade is completely safe and credible. In addition, you also need to understand the crypto world more deeply before deciding to become a Bitcoin trader.

You can get various news and information about crypto and Bitcoin from the best and most trusted source, Media Authority. Visit mediaauthority.co to get all the information you need to become an expert Bitcoin trader at making big profits.

Photo by Anna Nekrashevich from Pexels

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