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How to buy Bitcoin Bitcoin Trading Tutorial

Date:2024-04-04 18:42:42 Channel:Trade Read:
In today's turbulent era of digital currencies, Bitcoin, as one of the most representative cryptocurrencies, has attracted much attention. If you want to step into this mysterious and alluring realm, buying Bitcoin is the first step. This article will unveil the mystery of Bitcoin trading for you and help you easily master the secrets of Bitcoin trading.
Bitcoin trading is not a remote technical difficulty, but a simple and intuitive operation. To buy Bitcoin, you first need to choose a reliable cryptocurrency trading platform. Well-known trading platforms such as Coinbase and Binance are highly respected and have a good reputation and stable trading environment. Register an account, complete identity verification, and you can start your Bitcoin journey.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

When choosing a trading platform, be sure to pay attention to the platform's security and user experience. A safe and reliable trading platform can effectively protect the safety of your assets and avoid unnecessary risks. In addition, the user interface design of the trading platform is also crucial. A simple and clear operation interface can allow you to get started faster and trade easily.
Once you register and complete the real-name authentication, you can recharge funds to the trading platform through bank cards, PayPal and other payment methods. After confirming that the funds have arrived, you can decide the amount of Bitcoin to purchase based on the current market conditions. When choosing a buying opportunity, it is recommended to pay close attention to market trends, grasp the buying opportunity, and avoid unnecessary losses caused by blindly following the trend.
In addition to buying Bitcoin on an exchange, you can also choose to trade using a Bitcoin automated teller machine (ATM). The use of Bitcoin ATMs is similar to traditional bank ATMs. Simply put cash into the machine, scan your Bitcoin wallet QR code, and complete the transaction. The emergence of Bitcoin ATMs provides a more convenient way to purchase Bitcoin, allowing you to conduct transactions anytime and anywhere.
After purchasing Bitcoin, it is crucial to promptly transfer the Bitcoin to your own digital wallet for storage. Digital wallets are divided into two types: hot wallets and cold wallets. Hot wallets are suitable for daily transactions, while cold wallets are more suitable for long-term storage of Bitcoins and have higher security. Choosing a safe and reliable digital wallet and keeping your private key properly is the key to ensuring the security of your assets.
In addition to buying Bitcoin, you can also earn Bitcoin through mining. Bitcoin mining is the process of using computers to run algorithms to provide computing power to the Bitcoin network and thereby obtain Bitcoin rewards. However, as the difficulty of Bitcoin mining increases, it is difficult for ordinary users to obtain Bitcoin through mining, so purchasing has become a more mainstream method of obtaining Bitcoin.

We know that Bitcoin is a distributed virtual currency. Its entire network is composed of users. Unlike a central bank, it is not issued by a central agency. The decentralized feature of Bitcoin can be said to be safe. With the guarantee of freedom, everyone can mine, buy, sell or receive Bitcoin regardless of location. However, if you want to control Bitcoin, you need a private key. The private key is isolated and stored in any storage medium, and no one can obtain it except the user himself. Many investors who want to invest in Bitcoin still don’t know how to buy Bitcoin? Let the editor of the currency circle introduce to you the Bitcoin trading tutorial.

## How to buy Bitcoin?

Step 1: Let’s use an example to introduce how to buy Bitcoin. If you don’t have an account yet, you can create a new account and enter the market page.

Step 2: Search for the English abbreviation of Bitcoin, BTC

Step 3: Click Transaction to enter the purchase page

Step 4: Fill in the purchase quantity and click Buy. If it is selling, fill in the selling quantity and click Sell.

## Bitcoin Trading Tutorial

Bitcoin trading rules

1. Transaction type

Transaction types are divided into two categories, opening and closing positions. Opening and closing positions are divided into two directions: buying and selling.

Buying to open a long position means that when a user is bullish on the index, he or she will buy a certain number of new contracts. Carry out the "buy and open long" operation, and the long position will be increased after successful matching.

Selling long refers to the selling contract that the user covers when he is no longer bullish on the future index market, and offsets the current holding of the buying contract to offset the exit from the market. Perform the "sell to close long" operation, and the long position will be reduced after successful matching.

Short selling means that when a user is bearish or bearish on the index, he or she will newly sell a certain number of certain contracts. Carry out the "sell and open short" operation, and the short position will be increased after the matching is successful.

Buying short refers to buying contracts that users cover when they are no longer bearish on the future index market, and offset the current selling contracts to offset the exit from the market.

Carry out the "buy and close short" operation, and the short position will be reduced after the matching is successful.

2. How to place an order

Limit order: Users need to specify the price and quantity of the order. Limit orders can be used for both opening and closing positions.

Place an order at the counterparty price: If the user chooses to place an order at the counterparty price, the user can only enter the order quantity and cannot enter the order price.

The moment the system receives this order, it will read the latest opponent price and place a limit order at this opponent price.

3. Position

After the user opens a position and completes the transaction, he or she will own the position, and the positions in the same direction of the same contract will be merged. In a contract account, there can only be a maximum of 6 positions, namely long position on the current week's contract, short position on the current week's contract, long position on the next week's contract, short position on the next week's contract, long position on the quarterly contract, and short position on the quarterly contract.

4. Order restrictions

The platform will limit the number of positions held by a single user for a certain period of contract and the number of orders placed for a single opening/closing position to prevent users from manipulating the market.

Through the above Bitcoin trading tutorial, I believe everyone can quickly learn how to buy Bitcoin. As the earliest and largest cryptocurrency to date, Bitcoin was born at the same time as the blockchain. Because the total amount of Bitcoin is capped at 21 million, its rarity can guarantee its value. Logically speaking, the settings of Bitcoin are actually the same as those of gold. The issuance limit of Bitcoin cannot be exceeded just like gold. Gold is not issued by any country, and the same is true for Bitcoin. In fact, Bitcoin can now be circulated like currency, which is the embodiment of the value of Bitcoin.

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