Since 2009, Bitcoin has grown into an international sensation. Its meteoric rise to fame is unlike anything the financial world has ever seen.
The cryptocurrency has evolved from a novelty to a viable solution to many global economic problems. Therefore, many people have invested in it.
However, trading on Bitcoin is not as straightforward as you might think. It could be a bit challenging for someone who has never traded before.
With a little research and the right trading tools, you can learn how to hopefully become a crypto trader and trade on one of the most popular digital commodities!
Most people are interested in Bitcoin investing because they have heard about it online or from friends without knowing how to use it or how it works. This means that most beginners have heard about Bitcoin but don't really understand it.
Before creating an account with BitIndex Prime, here are some basic Bitcoin principles you should be familiar with to know what you're trading on.
Bitcoin is a virtual currency in the most basic sense. People and organizations can use it to store and transfer wealth online instead of going through time-consuming traditional financial transactions.
You can use it to make purchases on some websites, and more businesses are accepting Bitcoin as a means of payment daily. VISA, too, has declared its intention to develop a cryptocurrency infrastructure.
Because of how fiat currencies are created, it is subject to inflation. The process is overseen by people who determine how much of the currency is printed and when it is produced. Money becomes an unlimited resource because of this intrinsically flawed Platform.
When you compare that to a rare metal, such as gold, which is in short supply, you can understand the issue.
Producing Bitcoin is an automated process, and the cryptocurrency is also a finite commodity because there are a limited number of Bitcoin tokens in circulation. The Bitcoin blockchain will stop creating tokens in around 120 years, suggesting that there will never be any more.
This simple attribute of the currency may give it immediate, real value. Some people use the phrase "digital gold" to describe it.
As skepticism of financial institutions and their function in the financial sector rose during the 2008 Great Recession, Bitcoin was developed. Satoshi Nakamoto, a person, or group of people published a white paper in response to the centralized control of currency and the economy.
Transactions in the context of banking can be reversed or tampered with by a third party, resulting in high transactional fees. Bitcoin was pitched as a mechanism to do business without the use of a middleman and these additional costs.
Rather than being dependent on traditional banks and other financial institutions, the Bitcoin model employs cryptographic proof to safeguard the network's integrity.
When the first block, known as the genesis block, was mined in January 2009, the Bitcoin blockchain was officially launched. A week later, the very first test purchase was made.
It was only available to miners validating the blockchain for the first several months of its operation. Bitcoin had no real value at this time.
Miners, who use sophisticated computers to solve complicated mathematical problems to find new tokens and confirm that existing transactions are precise and reliable, would exchange Bitcoin for their amusement.
Programmers and miners later began to create new blockchains, such as Litecoin and Ethereum, in 2011 and proceeded to enhance the technology behind Bitcoin's network, modifying it for various uses.
This broader range of uses attracted more investors, contributing to a rise in Bitcoin's perceived value.
The cryptocurrency became more widely accepted as a form of payment as a few companies decided to accept it alongside fiat currencies.
It became easier to acquire, sell, store, and trade Bitcoin after it became accessible on cryptocurrency exchanges in 2010. The virtual currency in some cases maintained a consistent price against the US dollar because of these trading platforms and exchanges.
Although Bitcoin, like all cryptocurrencies, is volatile, investing in it is certainly a risk worth taking for several reasons.
Firstly, Bitcoin has surpassed all conventional commodities in recent times, reaching a high of about $68,000 per coin in 2021.
It remains the most renowned and popular cryptocurrency in terms of market value. Amid concerns about volatility, some experts anticipate that the long-term value of Bitcoin might reach $100,000 by the end of 2023.
Within the past two years, the cryptocurrency has already risen to prices that were previously unimaginable.
Therefore, some people regret not investing in the digital currency sooner.
As Bitcoin is predicted by some experts to grow in the future, BitIndex Prime offers a chance to trade on it, but speculating on it’s price!
BitIndex Prime is a trading platform where users can trade by speculating on the price of Bitcoin tokens against fiat currencies or other cryptocurrencies.
The trading platform was created by a team of programmers and experts Bitcoin traders that wanted to provide users with a place to trade on Bitcoin quickly and easily. BitIndex Prime provides the trading tools users need and the Bitcoin information they need to try and make all they can of their trading journey.
Most Bitcoin trading platforms are developed by programmers just looking to make a quick buck. However, BitIndex Prime was designed by Bitcoin experts and enthusiasts who understand the challenges of trading on a hard-to-navigate crypto platform.
If you wish to join, Signing up for an account is quick and easy and don’t worry if you don't know how to use the trading platform. It has been specially designed to be easy to use, making Bitcoin trading as straightforward as possible. You'll be able to get into the swing of things in no time if you devote time to your trading account every day.
With BitIndex Prime, you can trade on Bitcoin and other cryptocurrencies.
Bitcoin trading involves speculating on price swings in the cryptocurrency. Rather than buying and holding Bitcoin and expecting a price increase over time, crypto traders use derivatives to bet on fluctuating prices to try and take advantage of the digital currency's volatility.
With BitIndex Prime you may use financial derivatives to speculate on the Bitcoin price.
This allows you to hopefully benefit from market moves in either direction without having to hold the underlying Bitcoin tokens, which means you won't have to worry about the security of your cryptocurrency balance.
Wondering what you can expect with BitIndex Prime? Here’s a list of some of the most prominent features:
One of the most important features of any trading platform is its ease of use. There’s no point in creating a platform with cutting-edge technology when no one can use it.
Many new traders are deterred by confusing graphs and data they don't understand. It makes them feel overwhelmed instead of helping them learn more about trading. As fellow traders, the BitIndex Prime team understood the need for change.
Therefore, users aren’t bombarded with information the second they log in. Instead, this data is easily accessible for users to view when they need to.
With BitIndex Prime, you won’t have to spend hours waiting to be verified or go through a complex sign-up process. The team has made getting to the platform as easy and simple as possible so you can get started quickly!
If you’re looking for help with order execution, you’ll find that BitIndex Prime has all the tools you need to hopefully succeed! Because the team understands that trading requires a certain level of skill, it ensures that traders have the correct tools to try and make the process as simple as possible.
These innovative tools will provide you with basic order types and help you conduct your trades.
Most investments require a large deposit. However, this isn’t the case with BitIndex Prime. You can start trading with a low initial investment!
Setting up your BitIndex Prime account is easy! If you wish to join, follow these steps to get started:
Before you get started, you should spend time learning how to trade on cryptocurrencies. These virtual currencies are volatile, so going in without prior knowledge or experience could result in a bad experience.
In fact, therefore many new traders often lose interest and blame trading platforms for losing their money.
It would help if you also got to know more about BitIndex Prime before you sign up. Every trading platform is different, and you will need to choose one that best meets your needs. Read more about the platform on the "About BitIndex Prime" page.
You can also try out the free demo mode to get a feel for the platform and practice trading to see if you’d be happy trading with BitIndex Prime’s features.
The next step is to fill out the online form. Provide your full name, email address, phone number, and country of residence. Once you’re done, click “Submit.” Make sure you've added a valid number, as this is the number a BitIndex Prime account manager will use to get in touch with you.
Next, an account manager will contact you to talk more about your trading goals. He or she will then help you set up your account and explain more about the process, so you have a good understanding of how the platform works.
With the account manager’s help, you'll have access to a BitIndex Prime trading account!
Before you can trade live, you should always use the free demo mode to learn more about the platform. Explore the interface and practice using the various order execution tools. You can even try your hand at trading without the risk of losing any real money.
Even if you are an advanced trader, you should make use of the demo feature to learn more about the platform since they're all different.
Once you’ve perfected your strategy in the demo mode, you’re ready to begin trading live! You can place buy and sell trades on Bitcoin and other cryptocurrencies at your leisure.
Bitcoin is growing increasingly popular, so if you wish to join and start trading, you can Sign up to the BitIndex Prime Platform!
Yes! One of the most asked questions is whether BitIndex Prime is a scam or a legitimate platform. This is because many scam websites have popped up, hoping to trick people into investing their money.
However, BitIndex Prime is no scam – the team has spent too much time carefully designing it! The platform also offers transparency and attention to detail. These are qualities you simply would not find on a scam site!
Yes! BitIndex Prime has been designed to be as user-friendly as possible, which is why the developers included a mobile version that you can access from any smartphone.
All you need is a stable internet connection and a browser to use it.
No, the platform is not a trading robot. You’ll need to analyze trends and make trading decisions on your own. Therefore, you must spend time learning more about crypto trading. There are several online courses that will provide you all the knowledge you’ll need to trade on Bitcoin with BitIndex Prime.