Bitcoin’s Bullish History

how to make money trading bitcoin reddit

When you think of trading or investing, you probably think of stocks and bonds. You might also think of commodities, currencies and whatnot. Introduced in , the electronic currency Bitcoin is exchanged through its own payment network. The Bitcoin can be stored in a virtual wallet and has been described as a cryptocurrency; a decentralized, peer-to-peer currency which relies on cryptography to facilitate currency generation and transactions. The Bitcoin is essentially a speculative vehicle for geeks.

Basically, do not eat out and expect to pay for the meal with Bitcoins. Some legitimate vendors have taken to Bitcoin, allowing customers to purchase real products and services with the digital currency.

Reddit allows you to use Bitcoin to buy Reddit Gold. While some everyday vendors have looked into accepting Bitcoins too, most of the demand for the currency has been fueled by speculators, rather than early adopters. With so much volatility, using Bitcoins in everyday life would be extremely risky anyway.

With such volatility, any serious commerce conducted with Bitcoins is likely to result in one party losing out on a lot of value.

So right now, the cryptocurrency is realistically just a tool for speculation. Coinbase is one of the major Bitcoin exchanges, which allows you to buy and sell Bitcoins as you please.

You sign up, deposit real-world money and exchange the currency with relatively low fees. By April 16, Bitcoins had lost almost half their value. Since April, Bitcoins have made a ridiculous comeback.

Right now, they seem to be fluctuating. Of course this is all speculative. You can make all the predictions you want, but no one knows what the future holds for Bitcoin.

Is it just a fad or could Bitcoin genuinely develop into an everyday currency? If it really took off, would the government not just ban it completely? Furthermore, there have been hard forks i. You have two options: mine or trade. By mining for Bitcoins, as long as the markets remain active you can basically make money for nothing. But the problem is, mining is such a tough gig now that it is hardly worth it. Turning your computer into a miner will likely make it noisy and heat up.

It would likely take you a long time to even mine a single Bitcoin, by which time you probably would have spent more on electricity. The more realistic way of making a million with Bitcoins is going to be trading them through the most prominent exchanges, such as Coinbase. Basically you should have bought about 1, Bitcoins back when they were cheap. Making a million with Bitcoins today is probably still possible, but you will need some capital.

Day trading Bitcoins is going to be risky, but where is there is volatility there is opportunity. Otherwise, you need to take a longer-term approach and conclude whether or not you think Bitcoin will be successful.

If you think Bitcoin is going to be traded by foreign exchange dealers, market makers and institutions one day, you might want to go long. On the other hand, if you have a strong conviction in the downfall of the Bitcoin, you need to short the cryptocurrency in any way you can. This would be an extremely risky endeavor still, but if the Bitcoin market is truly destined for failure, why not get rich when the bubble pops?

To short Bitcoin, you will either need to get creative or join an exchange which allows you to do so. The easiest way to invest in Bitcoin is to simply get a Bitcoin wallet and buy Bitcoins. We recommend Coinbase for U. This ETF tracks Bitcoin, and you can invest in fractional shares. Start here. Remember, you could also invest in Litecoin or invest in Ethereum as well. This is just a chance to either make a quick buck, or lose everything.

Bitcoins may well take off in the real-world in the future, but then again what would stop another cryptocurrency from emerging and defeating the Bitcoin, especially if it was indeed better? Failing that, you need to either day trade Bitcoins and take advantage of the short-term price volatility, or make an extremely risky long or short bet on the long-term success or demise of the Bitcoin.

By shorting, you might be able to make money on the downside in the short-term too if the so-called Bitcoin bubble is about to burst. Matthew is a student currently studying Accounting and Economics. He is mainly interested in business, economics and finance.

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how to make money trading bitcoin reddit

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There are a number of ways that individuals can earn Bitcoin online. Unfortunately, just as in real life, there is no such thing as a free lunch. Some of the methods outlined below will involve minimal effort but will also result in minimal returns. Other means of earning Bitcoin online may be more lucrative but they will require you to have a certain level of knowledge and expertise about the industry and the market. Therefore, although it may appear to some that Bitcoin, and cryptocurrency in general, is an easy way to bow money, it is not as easy as some might expect without the requisite knowledge a principle that can unsurprisingly be applied to any industry. However, should you be interested in earning Bitcoin online it may be worth considering some of the below options, ranging from the least difficult and least paid!

how to make money trading bitcoin reddit

Keep your head on straight and follow your rules

There are a number of ways that individuals can earn Bitcoin online. Unfortunately, just as in real life, there is no such thing as a free lunch. Some of the methods bitconi below will involve minimal effort but will also result in minimal returns.

Other means of earning Bitcoin online may be more lucrative monej they will require you to have a certain level of knowledge and expertise about the industry and the market. Therefore, although it may appear to some that Bitcoin, and cryptocurrency in general, is an easy way to make money, it is not as easy as some might expect without the requisite knowledge a principle that can unsurprisingly be applied to any industry. However, should you be interested in earning Bitcoin online it may be worth considering some of the below options, nake from the least difficult and least paid!

Although micro-earnings is the easiest method in which to earn Bitcoin, it is also probably the most time consuming of all the methods discussed, especially when taking into consideration the amount of money to be. Micro earning websites pay you in Bitcoin for completing small tasks.

In return you can get a very small amount of Bitcoin. The most popular forms of micro earnings are as follows:. As suggested by the name, these websites pay users in Bitcoin for visiting certain websites or viewing certain advertisements. There are many PTC websites that will pay negligible amounts in Bitcoin for clicks and views, with Ads4BTC probably being the most hod and the most popular. This website allows users to choose between viewing ads that are 5 seconds, 10 seconds or 20 seconds, with different fees being awarded for.

Was lowest bitcoin price Bitcoin faucet is a type of website that gives away small amounts of Bitcoin to its users, with owners making money by placing ads on their website and pay individuals who visit how to make money trading bitcoin reddit ads or complete surveys. Faucets let visitors earn a percentage of the Bitcoin that they give away to any visitors that you brought in.

This has resulted in users using a Bitcoin faucet rotator read article allows users to quickly surf different faucets and earn a commission through rotation links for each faucet visited by you.

Micro jobs are small what is it etf bitcoin that can be completed for small amounts of Bitcoin. Websites such as Coinworker offer such tasks, which may involve simply testing a plugin to see if it is successfully compatible with a browser, or just retweeting a post.

Again, the money is small but there is potential to earn a little bit more than the faucets of PTC websites. The amount that can be earned by writing about Bitcoin varies, but can be quite lucrative depending on the how to make money trading bitcoin reddit of expertise that now have on the subject. The BitcoinTalk Forum Signature campaign pays for users to write posts on the BitcoinTalk forum which includes a product campaign in the signature. Most campaigns also have certain requirements for posters, such as a minimum word limit or a requirement that no advertisements are directly included how to make money trading bitcoin reddit posts.

The amount of money that can be made bitcooin these campaigns varies depending on the number of quality posts that you could make as a user that achieve the word count minimums. In addition, due to some campaigns operating only allowing for a maximum number of posts per week, there may not be sufficient income within a how to make money trading bitcoin reddit to earn substantial amounts.

You will earn differing amounts how to make money trading bitcoin reddit on how many followers you have so it can be useful to build your Facebook or Twitter accounts and participate moneey different campaigns. You will typically be paid after the ICO has taken place and receive some of the coin or token from the company you helped promote. It is at this point that the potential for making good money begins to rise, although the corresponding requirements for knowledge about Bitcoin also increase at the same time.

At this level writers can also choose their payment methods, whether it be in Bitcoin or in fiat currency. Websites such as Coinality is a good place to start if you are looking to find jobs writing about Bitcoin online. If you take the writing route for Bitcoin and your blog or website is a success, there is potential to make money through Bitcoin affiliate marketing. This is a form of marketing where you can get paid a certain percentage of commission for every referral that you bring to an existing Bitcoin business.

If the business operates an affiliate programme, and your blog is read by enough people who link to the business and purchase the product offered, then the commissions can potentially be unlimited, for minimal outlay other than the drafting of the original blog post. When it comes to cryptocurrency, if your level of expertise is more on the technical side rather than the writing side, there are plenty of opportunities to get involved in cryptocurrency development projects.

Most of the companies currently operating in the cryptocurrency industry are start-ups with limited infrastructure in place. Therefore, they often need everything from software developers to web developers to mining how to make money trading bitcoin reddit to online marketers. Depending on the size of the startup a role such as this can vary from being a contracting job that can be completed remotely, or alternatively could be a full-time job.

The amount that can be earned from a role such as this is obviously dependent on the type of role, the level of expertise that you bring to the role and the number how to make money trading bitcoin reddit hours that you will be dedicating to the role. There are potentially significant earnings to be made in Bitcoin lendingbut there is also significant risk.

Bitcoin lending tends to operate through intermediary websites such as Bitbond and the concept is as simple as it sounds. You act as a bank, lending your Bitcoin to another person at a certain level of.

Because male market is unregulated the levels of interest are generally much higher than the standard bank rate meaning that there is a potential for high returns. However, traing the flip-side, the unregulated nature of the transaction means that in the event that the borrower does not pay back the Bitcoin to you, tradinh is little recourse available for you to enforce the loan. The volatility and the risk associated with the Bitcoin mobey market means that it is probably a market only accessible to very large holders of Bitcoin, due to the level of risk and the potential expense in enforcing a loan if something goes wrong.

However, if handled correctly, there is huge potential market in this sector. For more information about Bitcoin Lending, take a look at our indepth guide. Early adherents to the Bitcoin industry have made significant fees through mining Bitcoin. Mining Bitcoin is the process by which new coins are created. At its inception, Bitcoin mining was relatively simple and the earliest miners were able to mine thousands and thousands of Bitcoin with limited expenditure.

Nowadays, Bitcoin mining is much harder. Each Bitcoin that is mined requires more processing power and therefore mining Bitcoin now involves significant processing rrddit and can no longer be done without specialized equipment. In addition, the costs of the electricity used to power this equipment is phenomenal, with Bitcoin mining currently estimating to be using the same power per day as a country the size of Morocco.

Because of this, most Bitcoin mining has been taken over by companies who can make profit by scale based on buying large amounts of processing hardware at a discount as well as locating themselves in an area with extremely cheap electricity. There is huge potential to make money on trading in Bitcoinbut it takes a level of expertise and knowledge about the market in the same way that trading on any other financial market does.

Websites such as Coinbase or CEX both allow redrit to purchase cryptocurrency by credit or debit card, or alternatively to purchase via a bank transfer. Once purchased, you can then transfer your Bitcoin to whichever exchange you wish to operate on. If you wish to consider trading, here are some of the options:. Day trading is buying and selling Bitcoins on the same day on the basis of small, short-term price fluctuations in the market.

Such fluctuations may be based on market trends or simply rumours. Traders can trade Bitcoin against other cryptocurrencies or against fiat currencies such as the US Dollar. Running your own Bitcoin Trading bot how to make money trading bitcoin reddit an advanced method which can produce good returns if done properly. We have written a complete guide to trading bots here which will show you the methods and advantages to earning bitcoin and other cryptocurrencies this way.

Here are some of the more popular platforms and bots to use:. For more information about 3Commas, check out our complete review. Cryptohopper is a cloud-based trading bot which means it can trade cryptocurrency 24 hours a day whether you are at your computer or not. The system allows you to trade on technical indicators, or subscribe to a signaler who sends buy signals.

For more information about Cryptohopper, see our full review. The CryptoTrader bot is a cloud based trading bot that provides users with fully automated trading solutions while not requiring them to install the bot on their own.

We have also reviewed CryptoTrader. Although similar to day trading, CFDs does not involve actually buying or selling any Bitcoin. One of the advantages of this is that you can short Bitcoin, meaning that if btcoin price goes down, your profit goes up, allowing you to hedge your trades.

One of the disadvantages is that you have no control over the Bitcoin you trade with, as you are not the owner of any Bitcoin or the controller of the private key. It can therefore only be used for trading purposes. Binary options so-called because the only option is to win or to lose is a trade strategy that allows you to predict if the price of Bitcoin will rise or fall in a certain period of time.

If the rise or fall occurs within the set period, you will receive the payout agreed upon when entering into the option.

Trxding it does not occur, then you lose your investment. We recently reviewed IQ Option which is the largest mohey for trading Binary options. Although not exhaustive, these are some of the most popular ways in which you can earn income online. However, with an ever-expanding market the demand for Bitcoin expertise and Bitcoin related products means that there has never been a better time to get involved in Bitcoin. No Spam.

He has extensive experience advising clients on Fintech, data privacy and intellectual property issues. He holds a Masters in Corporate Hoq and currently works with a fast-growing e-commerce company in Ireland, as well as advising other start-ups in the Fintech space. All content on Blockonomi. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. Hello Alvin please can you please introduce me to exchange service that pay you fast when reddit selling bitcoin.

Hi Bitcoiners! How can I start investing and how much do I need to start? Someone please assist. Hello, I think this is a very intrusting post. Now everyone wants to know more about. And Cryptocurrency is best option to use.

Your Post really informative for me. Thanks for sharing us. There are lots of legit crypto investment companies that pay decent ROI that even pay more than mining. These two companies are paying very well on a daily basis. You can review it and try. Many people work from Monday to Sunday only for them to find themselves broke every month,Why work like an elephant and eat like an ant? Think about it, you are no different from those with millions of bitcoinn in there bank account.

The only difference is that they invested, Saving tradjng in the bank does not make you rich but investing that money makes you super rich. To be successfully it takes time but to be financially stable and secured it by choice not by chance.

Conclusion

Each cross represents a momentum shift, but can lead to unreliable signals so use it as a supplement to other signals you have generated. Think about the movement of both of the lines together too to strengthen the signal. Following a long period of the Bollinger bands forming a tight channel a trader may expect a sudden spike in volatility. The basics remain the same, based mostly on supply and demand knowledge, but beyond that, technical traders follow a strategy best suited amke. Something interesting to keep in mind butcoin indicators is that they can follow support and resistance, much bittcoin price. Is poe trade mining out to 4h or 1D time frame will show hoa bigger picture. This allows you to profit from assets decreasing in price. Fundamental and technical analysis bitckin two approaches to studying and trading cryptocurrency markets. Ascending triangles are expected to form during uptrends and cause positive price movement once broken, much like in the picture. At first it sounds too good to be true. Reddit allows you to use Bitcoin to buy Reddit Gold. Since you had identified the support level as a key support, you would be fairly confident that the price would bounce back due rtading the increased buying pressure at this level. The price could continue moving in the same direction and wipe you out before a retrace begins - so be careful. Moving averages are highly versatile, and there is more to learn there if they interest you. Just like recognizing patterns anywhere else in the world, in trading you can spot setups on the chart that may suggest that a pattern you have seen before if forming. You have two options: mine or trade. If you see a chart pattern forming, you may know where the price is going to head next to complete the pattern.

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