How to practice Bitcoin trading
It’s no surprise that lots of people are looking to get into Bitcoin trading nowadays. This cryptocurrency shows immense potential when it comes to profits.
But there are other benefits to this cryptocurrency as well. There’s no third party regulating it and you always know where your transactions come from and go to. Also, you remain anonymous during all of them. These are only more reasons to start using Bitcoin or start trading with Bitcoin assets.
However, you’ll need to know the basics of it before you start trading. The essence of it is to make analyses of the market and make your decision based on that and the trends that come and go. This means you’ll have to make a lot of important decisions when trading. So, where do you get some practice?
The gaming industry has the answer to that. Some game developers have produced a few Bitcoin titles that are trading simulator apps which are perfect for anyone that’s looking to learn how to trade Bitcoin. So, if you’re looking for such apps then here are some suggestions:
This is just one of the many apps that you’ll come across. Bitcoin Hero is a trading simulator app that focuses only on Bitcoin. In other words, you’ll have a trading market with Bitcoin assets that have real-time prices. Also, you’ll get other players that will serve as your competition and some tools to analyze the market with.
In short, you’ll have all the practice needed to be a beginner Bitcoin trader. Then you can go out in the real world and start trading. However, this can be quite risky and you can opt for an alternative if you go for a trading platform.
Bitcoin Mastery is one of them. Execution is done with orders for Bitcoin Mastery software because it does all the hard work for you. This platform trades for you but only after you make an account and deposit a small amount of money. This deposit is your starting budget for trading. Then you’ll need to go over a few tutorials and a demo lesson to get familiar with its settings. Afterward, you can take the platform for a live session. You can also invest as much money as you want and tweak the settings according to your needs.
Unlike Bitcoin Hero, Altcoin Fantasy doesn’t just focus on Bitcoin, it covers other cryptocurrencies as well. The app also offers a virtual market with other players as your competition. The virtual currency in the game is dubbed ACF points. You’ll also have some tools to analyze the market with and make your decisions based on the analyses.
What’s interesting about this app is the fact that there are competitions available. These competitions are available to all users, but you need to show immense trading skills to take the top prize. That’s because the prize in question comes in the shape of Bitcoin or any other cryptocurrency you prefer. So, this game can teach you how to trade Bitcoin and became a source of it as well.
What Else Do You Need?
Besides plenty of practice, you’ll need a place to store your assets in. This place is called the Bitcoin wallet and there are loads of them out there. In general, they’re divided into hot and cold ones. Each type has its characteristics that differentiate it from the other. So, you’ll need to do some research before picking out a wallet. That’s something that you’ll need to do carefully as your wallet needs to suit your needs.
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