Trading Preschool Lesson 2
Hi y'all, it's Tristan Winters from iceCUBEDX again, South Africa's leading Bitcoin and Altcoin exchange.
This is Lesson 2 in the Preschool Section of our full Trading Education Series.
You can find a link to Lesson one here in case you missed it.
This is a tutorial series I put together for the exchange.
As proof this is my work, you can see my other blog posts for iceCUBEDX here. Also, you can see my ugly mug on Team section of our website.
A lot of people have heard about Bitcoin when they find our exchange. They have no experience in trading, but they want to learn.
So, we put this series together for them.
I present it to the Steemit Community for their use and benefit.
The principles can be used to trade anything on crypto exchanges, including Steem and Bitshares.
Full Lesson Outline
Preshcool:
Lesson 1. Why Trade Bitcoin.
Lesson 2. Who Trades Bitcoin. << You Are Here :-)
Lesson 3. When Can You Trade Bitcoin.
Lesson 4. How to Make Money Trading Bitcoin.
Lesson 5. The Mechanics of Trading.
Kindergarten:
Lesson 1. Charts and Data.
Lesson 2. Indicators.
Elementary School:
Lesson 1. Support and Resistance.
Lesson 2. Japanese Candlesticks and Trading.
Lesson 3. Fibonacci Trading.
Lesson 4. Moving Averages.
Trading Preschool Lesson 2 - Who Trades Bitcoin?
Unlike the stock market, for example, you don’t need to trade through a single, centralized exchange, with a single price option.
In Bitcoin and digital currency markets, there is no single reference price. Prices across different exchanges can vary. It all depends on the traders in any given exchange. Specifically, what are they bidding (buyers) and asking (sellers).
In fact, iceCUBED is one of many exchanges, globally. Further, exchanges are a single part of the rich Bitcoin and digital currency ecosystem.
This much variety in exchanges provides easy opportunities for quick profits, through arbitrage.
While it may seem overwhelming at first, this is another reason why digital currency is so awesome to trade: quick, simple, profit opportunities.
And you can do Bitcoin trading anywhere.
It’s a little like trading Basketball cards. If you want that super rare, mint-condition Michael Jordan rookie card, well, you have to find the best deal. If you find it, you can flip it quickly to another buyer, on a different exchange, at a higher price.
Because trading fees are so low, and transfers are so quick, do this a couple of times in a day or week, and you’re making good money.
In short, anyone can trade Bitcoin, theoretically. But, to do it properly you’ll need a bank account and at least one exchange account.
An exchange account is easy to open. It will be quick.
A bank account? Well, that depends on your country. Actually, you only need a bank account if you plan on trading government money with digital currency. If you just want to trade digital currency pairs BTC/LTC, etc, then you won’t even need a bank account.
Trading bitcoin and digital currency is the fastest and easiest way to learn trading, while making good money. The value of these currencies fluctuates greatly. This means great profit opportunities.
This is high risk trading, with high rewards and super exciting because, well, there is plenty of money to be made in the trading of bitcoin.