10 Step Guide for Day Trading Bitcoin, Ethereum and Litecoin
5 stars based on
If you are new to Bitcoin trading, you need trading sites trading bitcoins for dummies are easy to use and dont bother you with too much trading bitcoins for dummies trading settings at the beginning. Here you see a list of the most beginner-friendly broker sites:. As a beginner you must focus on learning the basics such trading bitcoins for dummies learning all important chart patternsunderstand what is risk management and always document your trades.
The best way to start trading is to use very clear and trading bitcoins for dummies interfaces which are designed for newbies as much as for professional traders. If you are new to Bitcoin and or trading with Bitcoin, we suggest you to start with a beginner friendly trading platform. Bitcoin itself can be a very technical product requiring some computer knowledge to understand how it works. Trading with Bitcoin is similar to forex tradingin order to do this well, you need to understand not just the product you are trading with but the market behind it.
This two things combined together could result in a very complex process that can dissuade beginners at first glance. However using such bitcoin trading sites that are beginners-friendly can make sure even those users can trading bitcoins for dummies the benefits of Bitcoin trading who are new to the market. We consider a bitcoin trading platform beginner friendly if is has certain features than can help new joiners to start the trading activity in an easy and quick trading bitcoins for dummies.
As a beginner bitcoin trader we suggest you to avoid margin trading at the beginning of your journey as it involves significant amount of risk. Simple FX is prepared for beginner trading bitcoins for dummies. They offers a wide variety of videos and tutorials in order to make sure each and every users understand the functionality of the platform.
Coinbase is one of the oldest bitcoin broker on the market, which also means they have already learnt what the beginner users need. Buying and selling is very easy on the platform and there is also a lot of walkthroughs are available on their site if you are stuck. Visit Coinbase Website Read our Coinbase. Cryptopia is a great exchange for anyone who wants to start trading with cryptocurrencies beside bitcoin. The dashboard is well designed and easirly accessible.
It is especially recommented for those who like social interaction very much. Avatrade is considered a beginner friendly bitcoin broker as they offer a demo account. You can use this demo account just like your normal Avatrade account to test your strategies or follow the market without risking your money. FX Open offers an easy to use, transparent exchange to trade with bitcoin. Trading bitcoins for dummies site is focusing on other assets as well and already built in the experiences from other market in their bitcoin trading platform.
Bittrex is suitable for both professional and beginner traders. The platform is becoming a more and more popular altcoin trading platform due to it's easy to use dashboard. Kraken is one of the most popular bitcoin broker on the market and it is probably due to their user friendly platform. The dashboard is very intuitive and designed specifically for new traders. Visit Kraken Website Read our Kraken. GDAX has a self-explanatory user dashboard and realistic analysis charts that helps the beginner traders to pick new knowledge about trading quickly.
Best Bitcoin Brokers For Beginners If you are new trading bitcoins for dummies Bitcoin trading, you need trading sites which are easy to use and dont bother you with too much advanced trading settings at the beginning.
Here you see a list of the most beginner-friendly broker sites: Bitcoin Trading Sites for Dummies As a beginner you must focus on learning the basics such as learning all important chart patternsunderstand what is risk management and always document your trades. A simple and clear interface helps users to navigate on the platform and let's them just solely concentrate on trading without the need to find buttons in a hurry.
If a platform tour is available at a site, we suggest walking through it. It can have a lot of valuable information about platform that will help trading bitcoins for dummies future trading activity.
The most used functionality of a bitcoin trading site is the wallet and the orders. These two functions must be easily accessed to make the trading user friendly and convenient. If this is the first time you are trading, a demo account can be very useful. These demo accounts work exactly the same way as real accounts, the only difference is that you are not playing with your own money. This is a good solution to test strategies you have previously figured out.
A helpful support is a must for beginners. If you are new, you will definitely have questions, and if the support team is reachable and responsive you will certainly be in good hands.