Bitcoin was introduced to the world in 2009. And guess what has happened since then? It has caught the eye of plenty. Be it fans, investors, scammers, or regulators,.
And rightfully so!
Supporters view it not just as a form of currency but as groundbreaking technology that basically brought the concept of decentralised currencies.
Meanwhile, many others consider it a way to make a quick profit.
Early on, investors who utilised good trading platforms became Bitcoin millionaires. But it was not sugar and honey for everyone. Many also faced shocking results as they lost significant sums trying to predict its price.
Reason? Bitcoin (or bitcoin CFD) can be highly volatile. That is why those trading in it need a good understanding of how it works in 2024.
And only then can one aim to make the most of it via vigilant trading.
So, let’s begin with some basics first.
What Bitcoin Trading Mean?
Generally speaking, bitcoin trading is the exchange of this coin using a good online trading platform. The trading, however, is done in multiple ways.
Purchasing and selling it on a reliable cryptocurrency exchange is one method.
Using financial instruments such as Contracts for Difference (CFDs) is another.
With CFD brokers, you can easily check out any short term market movements. You’ll be able to easily analyse Bitcoin price changes more effectively. And you also dont really have to own actual coins for that.
Because of its versatility, this tool has become increasingly popular in the Bitcoin trading community.
Therefore, it’s crucial to understand the platform you will be utilising for trading before you start trading bitcoin.
It’s also critical that you understand every risk that is involved.
Is there any difference between Investing and Trading?
So, let us briefly discuss the differences between trading and investing. You should be aware of a little distinction before beginning to trade bitcoins.
Most Bitcoin investors who use trading platforms plan to keep their Bitcoin for a longer period of time. They believe that eventually, despite the market’s extraordinary volatility, the price of Bitcoin will rise.
This belief often stems from faith in the technology, ideology, or developers associated with the currency.
On the other hand, Bitcoin traders are involved in short-term buying and selling. They are continuously looking to make immediate profits. Unlike investors, traders sense Bitcoin as a tool for financial gains and may not necessarily analyse the technology or ideology behind it.
However, it’s worth noting that individuals can both trade and care about Bitcoin, as many people combine investment and trading strategies.
The surge in Bitcoin trading popularity can be attributed to many contributing factors.
- Firstly, Bitcoin’s high volatility allows for significant profit potential when anticipating market movements accurately.
- Secondly, unlike traditional markets with set opening and closing times, the Bitcoin exchange on online trading platforms operates 24/7, providing flexibility in transactions.
- Lastly, the somewhat unregulated nature of the Bitcoin landscape simplifies entry into trading, eliminating the need for extensive identity verification processes.
Anticipating Bitcoin’s Performance in 2024
Trying to figure out how well Bitcoin will perform in 2024 is obviously tricky. Some factors we’ve talked about and some factors that could impact it include institutional adoption, the occurrence of the halving event, regulatory changes, and broader economic trends.
All these will play a crucial role in shaping Bitcoin’s price trajectory this year.
The previous year, the cryptocurrency industry, especially Bitcoin, did face challenges as regulatory actions affected confidence. But this year is proving to be more profitable with a notable surge in Bitcoin prices, making it a more lucrative period for investors.
Choosing the Right Online Trading Platform
Now, the first step in purchasing your first Bitcoin is to register for an account on a reputable cryptocurrency trading website.
The issue is the abundance of options available on the market. It is crucial to determine which is best for you because of this.
A few features that viable trading platforms have:
- Swift Onboarding: Opt for a trading app that simplifies the account setup process, allowing you to start within seconds.
- Optimal Trading Conditions: Choose an online trading platform that offers favourable conditions, including minimal trading fees and rapid trade execution. Platforms with deep liquidity can help reduce overall trading costs.
- Segregated Client Funds: Safety is paramount, especially when trading on the go. Ensure the platform prioritises the security of client funds by establishing segregated trust fund accounts, guaranteeing the protection of your funds.
- Negative Balance Protection: Guard against the risk of losing your account balance by selecting a platform that provides negative balance protection. This feature ensures that you won’t exceed your initial investment, offering an added layer of security for all types of accounts.
Simplify Your Bitcoin Trading Experience with AAA Trading
Experience all the above-mentioned features on AAA Trading, a reliable online trading platform. The exchange aims to make online trading straightforward and within reach for all CFD traders, regardless of their experience.
With just a single press, you may trade Bitcoin on your mobile device as well. The online trading platform offers comprehensive coverage for FX, stocks, and cryptocurrency trading.
You can also download its online trading app for instant alerts and analysis.
