For registration on Bittrex, all you need to do is just a simple log in through your email ID. However, for the purpose of withdrawing funds, you’ll need to go through the process of KYC and submit your personal details such as ID cards and phone number. Another noteworthy thing is that Bittrex is a “crypto-only” exchange, thus, it does not allow you to deal in fiat currencies.
You can’t simply go to a bank and ask for any digital currency. Instead, you’ll need a proper digital platform for making any trade in Bitcoin, Ether, Ripple or as a matter of fact any crypto. After all, that’s the whole point of creating digital currencies. Cryptocurrency exchange platforms are such online portals that allow you to exchange a digital currency (cryptocurrency) for another one or even a fiat currency depending upon the type of exchange.
LinkCoin is an Over-The-Counter (OTC) cryptocurrency exchange that was developed by Yesbit Ltd in collaboration with Bibox. Based in Toronto Canada, the exchange processes transactions autonomously via smart contracts. Plus, with a fully functional website, and Android + iOs apps, the platform has the necessary technological infrastructure to provide users with a service that meets all of their investment needs. Linkcoin has 7 cryptocurrencies available for purchase (BTC, ETH, BCH, ETC, LTC, LKN, BIX) plus, with some of the indsutrie’s lowest transaction fees (zero buyer fees + 0.6% seller fees), they make buying and selling cryptocurrencies as affordable as possible. Accessibility is something Linkcoin also values. Which is why they accept interac e-Transfer, Bank Wire, AliPay and WeChat Pay. Users can also pay in either CAD, USD, CNY, JPY, or HKD.
Bitsquare is a user-friendly peer to peer exchange that allows you to buy and sell bitcoins in exchange for fiat currencies or cryptocurrencies. Bitsquare markets itself as a truly decentralized and peer to peer exchange that is instantly accessible and requires no need for registration or reliance on a central authority. Bitsquare never holds user funds and no one except trading partners exchange personal data. The platform offers great security with multisig addresses, security deposits and purpose-built arbitrator system in case of trade disputes. If you want to remain anonymous and don’t trust anyone, Bitsquare is the perfect platform for you. Check out the Bitsquare FAQ
Update 1st October 2018: The cryptocurrency market has been volatile as ever over the last 6 months. Unless you are a skilled trader, it is harder to make money in a bear market than in a bull market – and we have been in a bear market for some time now. Personally, I have stopped trading and I am now focussing on growing my portfolio passively using a cryptocurrency trading bot – you can find out more about this here. If you are new to crypto, read on!
This learning program will make you completely self-sufficient. There will be no need for you to pay for another course or to subscribe to different trading groups and live trade rooms. There is a ton of groups and individuals out there who are selling or giving away trade signals on their sites, Twitter, forums, etc. All these signals and tips can be useless or even very harmful, if you don't know how to do your own research. For instance, a fresh tweet saying it's time to buy a certain altcoin might not only be old news. There's also a chance it was written because the author wants to actually dump the coin, and he needs people to buy and raise its value at the same time he is selling it.
Set limit orders for a few dollars under or over recent lows and highs. This can result in you buying or selling before BTC hits resistance. Sure, you can use crazy TA skills to find support and resistance levels, but you can also eye out levels by looking at a chart. 9 times out of 10 you’ll be able to eyeball a general support or resistance level and get close to the level a pro would have charted out (partly because the price has likely stalled on / bounced off those levels before; little parlor trick).
The cryptocurrency market is insanely volatile in 2018. You can make a fortune in a moment and lose it in the next whether you trade Bitcoin, another coin, or the GBTC Bitcoin trust. Consider mitigating risks, hedging, and not “going long” with all your investable funds. TIP: If you trade only the top coins by market cap (that is coins like Bitcoin Ethereum), or GBTC, then the chances of losing everything overnight are slim (not impossible, but slim). Other cryptocurrencies are riskier (but can offer quick gains on a good day).
It’s human nature to be cautious at first and then progressively relaxed, even reckless. My observations suggest that it is best to behave in the opposite, counter-intuitive way: commit yourself to the market with reckless abandon in the early days, and then start the scaling out process, applying the brakes and get the hell out when it appears to be the later stages.
There are some people who believe that Bitcoin is the only blockchain based protocol which has value and that all others will fail. These people are known as Bitcoin maximalists and their belief is based on economics, specifically Austrian economics, and that the technology which is great for Bitcoin is not useful for anything else. I am more open minded and believe that there are other applications of the technology which will create sustainable ecosystems but I could be proved wrong here. It is important to spend time doing your own research and building up your own view on where the technology may be used.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY, SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
ACTION: Go out and find a few other people that trade, find people you trust. Start a group chat on Facebook messenger — or on whatever platform you prefer. Each of you should research 2–3 credible sources to begin following and then delegate the sources equally. Each day your team should study their respective sources and relay only the necessary information to the group, focus only on information that is crucial for advising trading decisions.
Cryptocurrencies are not all the same. Some are mined while others are created all at once and slowly released into the market. Some cryptos earn a type of interest when owned and some are tokens used by innovative development networks/platforms. Other considerations like the maximum supply of a cryptocurrency, alternative uses (other than being an exchange medium), can greatly influence its future performance.
All the same, you should be careful where you put your money. Many HYIPs out there are simply scams. You might end up losing all your investment. Before you put money in any program, it is advisable to gather as much information as possible to know whether the company pays. As for this company, we strongly recommend that you get more information about it from a reliable HYIP monitor, before you take that bold step invest.
While these rules are by no means the only lessons you need, they’re definitely a great starting point. Sometimes, though, things are easier said than done, such as watching your portfolio value plummet and still having the iron willpower of resisting the sell button. One of the best solutions I’ve found to this was to join a community of like-minded cryptocurrency investors. Educated and smart crypto-traders, as well as the community members, will all be there to support your efforts and will be holding with you in the rough times.