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Bitcoin trading operation process Bitcoin trading beginners tut

Date:2024-06-11 19:13:41 Channel:Wallet Read:

Bitcoin trading has always been a hot topic in the financial market, especially for novice investors, it is crucial to understand the operation process of Bitcoin trading. This article will explore all aspects of Bitcoin trading in depth, providing novices with a comprehensive introductory tutorial to help them navigate the world of digital currency.

The operation process of Bitcoin trading can be said to have a low threshold, but the details involved are quite rich. First of all, as a novice, you need to understand the basic concepts and terms of Bitcoin trading. Bitcoin trading refers to the buying and selling activities carried out on digital currency trading platforms, through which users can buy or sell Bitcoin with legal currency or other cryptocurrencies. Before trading, novices need to register and verify their trading accounts, complete KYC (know your customer) identity verification, and ensure the security and compliance of transactions.

For novices, it is crucial to choose a reputable, safe and reliable trading platform. Among the many Bitcoin trading platforms, well-known platforms such as Coinbase, Binance, and Bitfinex are highly respected and have good user reputation and trading experience. When choosing a trading platform, novices should consider factors such as the platform's handling fees, trading volume, user experience, and security to ensure that they choose the most suitable platform for trading.

Once the right trading platform is selected, novices can start trading Bitcoin. Buying Bitcoin is the first step in Bitcoin trading. On the trading platform, novices can buy Bitcoin through market orders or limit orders. Market orders are to buy Bitcoin immediately at the current market price, while limit orders are to set a purchase price and automatically buy Bitcoin when the market price reaches the set price. Novices can choose the appropriate trading method to buy Bitcoin according to their needs and risk tolerance.

In addition to buying Bitcoin, novices also need to understand the storage and management of Bitcoin. Bitcoin storage is usually divided into two ways: hot wallets and cold wallets. Hot wallets are networked wallets that facilitate fast transactions and transfers, but are relatively less secure; while cold wallets are offline storage wallets that are more secure and suitable for long-term holding of Bitcoin. Novices can choose the right wallet to store and manage Bitcoin according to their needs and risk preferences.

When trading Bitcoin, novices also need to pay attention to the market conditions and trends. Bitcoin prices fluctuate greatly, and market conditions may change at any time. Novices can analyze market data, pay attention to industry dynamics and trends, formulate reasonable trading strategies, avoid risks, and get a better trading experience.

In general, Bitcoin trading is a process full of challenges and opportunities. As a novice investor, it is crucial to master the basic operating procedures and skills of Bitcoin trading. By choosing the right trading platform, understanding trading methods, mastering storage management, and paying attention to market conditions, novices can gradually improve their trading skills and achieve the goal of increasing wealth. I hope that this Bitcoin trading tutorial for beginners can help readers better understand Bitcoin trading, master the essence of trading, and become a leader in the digital currency market.

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.


Recently, the price of Bitcoin broke through $12,000, setting a record high in 13 months. Because of this, many investors rushed into the market, fearing that they would not be able to catch up with the Bitcoin bull market that was circulated in the currency circle. However, for novices who have just entered the currency circle, the most important thing to invest in Bitcoin is to be able to buy and sell Bitcoin. So, what is the process of Bitcoin buying and selling? The following Bitcoin Circle editor has compiled a beginner's guide to Bitcoin buying and selling for investors to learn.

 Bitcoin Buying and Selling Beginner's Guide

Today, the Bitcoin Circle editor will take OKX as an example to introduce the Bitcoin buying and selling process to investors. The detailed tutorial is as follows:

1\. Open the official website of OKEX, click the [] button in the upper right corner of the page to enter the registration page, and enter the email address on the homepage.

2\. Slide the slider to the right to complete the puzzle for verification, and then enter the verification code received in the email. The verification code is valid for 10 minutes.

3. Then enter your mobile phone number and click "Verify Now"

4. Enter the six-digit verification code received on your mobile phone, which is also valid for 10 minutes

5. Select your country of residence and check the Terms of Service, Risk and Compliance Disclosure, and Privacy Policy and Statement

6. The password you create must be 8-32 characters long, 1 lowercase letter, 1 uppercase letter, 1 number, and 1 symbol, such as:! @  $ % and other conditions

7. Verify your identity (KYC verification) before you can trade. Click [Personal Center] - [Identity Authentication] in the upper right corner of the homepage to enter the identity authentication page. Follow the prompts on the page to complete LV.1 basic authentication, LV.2 advanced authentication, and LV.3 video authentication.

Notes:

(1) The higher the authentication level, the easier it is to match better merchants and more favorable prices when conducting fiat currency transactions.

(2) The official website cannot perform LV.3 video authentication. Please download the Ouyi APP to complete the authentication.

8. After completing registration and identity authentication, click [Buy Coins]--[C2C Buy Coins] on the page to enter the self-selected coin purchase page.

9. Pay attention to selecting C2C transactions, you can see the real-time unit price of USDT, select the appropriate experience merchant according to personal needs, and click "Buy USDT"

10. After purchasing USDT, click [Trade]--[Basic Trading] to enter the trading page

11. Click the [BTC/USDT] trading pair on the page to see the real-time BTC market.

12. Fill in the purchase amount of BTC and click Buy. If you want to sell, fill in the sale amount of BTC and click Sell. Note that the minimum purchase amount is 0.00001 BTC.

 Notes on Bitcoin transactions:

1. Strictly control stop loss and prevent risks. Investment can allow losses, but losses must be controlled within an acceptable range. Therefore, strictly setting stop loss is the first step for investors to make profits. People often complain that they have suffered heavy losses, so why don't you do a good job of stop loss? Others see that the market is rising, so they blindly go long, and when the market is falling, they blindly go short. This situation of chasing ups and downs is a big taboo in investment. Yanwen has always emphasized that no matter how much the market fluctuates, stop loss must be brought, usually 60-100 points.

2. Strictly control the stop profit. Yanwen repeatedly emphasized that the profit target is 100~200 points every time when making a layout. When reaching the target point, gradually expand the stop profit, so that you will not make much profit like some people. Why do you make less profit? It's time to think about it. The market trend is clear, and you can obviously get more profits. Why not get it step by step? Follow the above operation strategy, make profits step by step, maximize profits, and then exit in time to pocket them. Short-term operations are to seize the profits of the band market.

3. Make a good plan to keep profits. Before the troops move, the food and grass must go first. Before entering the market, investors should first make a comprehensive prediction of today's market trend and set their own profit and loss range scientifically. With a big direction and plan, you can effectively make a profit by making orders in a planned way. Some people don't look at the point, don't look at the entry time, and want to do all the orders. As a result, at the end of the day, it's a small matter if they don't make a profit, but they are very depressed if they lose money. They are busy all day and get nothing, and they are nervous. It's really not worth it. So it is very necessary to make a good plan.

4. Follow the trend and summarize experience. The most important principle of investment is to follow the trend. Investors can only make profits more safely by following the direction of the market. They can't see that the market is obviously going to rise, but insist on buying short, and the market is going to fall, and then go long. Don't you know that those who follow the trend will prosper, and those who go against the trend will perish.

Through the above introduction, I believe that everyone has some understanding of the operation process of Bitcoin buying and selling. The editor of the currency circle reminds investors that when buying Bitcoin, please be sure to make a screenshot record of the transaction payment. If you encounter a seller who receives money but does not release Bitcoin, please contact the official customer service in time to coordinate and solve it. When selling Bitcoin, remember to release the currency only after receiving the payment! No matter what the other party has any reason, as long as you don't receive the money, never release Bitcoin. If you want to know more relevant knowledge, you can follow the Coin Circle. The editor of Coin Circle will continue to update relevant reports later!

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