Bitcoin trading: a guide for beginners

As Bitcoin is surging and its last price was over $60,000 in March, it has attracted the attention of a lot of affluent investors. Notable names like Snoop Dogg, Maisie Williams, and Ellon Musk were all supporting Bitcoin, and by doing so, they also fuel the media attention generated by the bullish cycle of the cryptocurrency. If you are new to Bitcoin and you want to start trading, this guide will help you learn more about BTC and how to achieve the best results on trading sites. 

What moves Bitcoin's price?

It is essential to be familiar with the factors that drive the price of Bitcoin. It should be noted that, unlike traditional cryptocurrencies, Bitcoin's price isn't impacted by the regulation of any intermediaries or financial institutions. For example, when it comes to traditional currencies, the supply is regulated by the monetary policies of a central bank. However, Bitcoin was created to minimize the reliance on traditional currencies, and it is a completely decentralized cryptocurrency. Hence the main factors that always impact the price of Bitcoin are the supply and demand on the crypto market.

The supply is regulated by the protocols in the blockchain network. Satoshi Nakamoto, which is the creator of Bitcoin and blockchain technology, has decided that in order for the inflation rate to stay under control, Bitcoin needs to have a finite supply. Therefore, there are approximately 21 million BTC. Moreover, the rate at which new BTC are created is controlled by Bitcoin halving, which is an event that halved the miners' block reward. It's also worth mentioning that mining is a time-consuming process that also takes a lot of electrical energy and computing power, while it's getting highly competitive because Bitcoin is blowing up. Therefore, the new BTC are introduced at a slower rate. 

In contrast, the demand is impacted by the volume of trading on online trading sites. As you're probably aware, there are a lot of institutional investors who drive the demand, but also, a lot of individual investors can easily invest in BTC on exchange sites. Hence, the demand is much bigger and is increasing faster than the supply. 

Reliability of online trading 

When it comes to trading, it is important to do your research and create an account on an exchange site that is reputable and secure. For example, Bitcoin Rush UK is a popular trading site that uses AI technology to ensure its members achieve the best results in changeable market conditions. Actually, you can gain up to $750 daily profits with a minimal deposit of $250. In addition, it is beneficial for beginners to know that can follow a comprehensive trading guide that explains online trading on the site.

You also might want to check the mobile version of the site and its features because a lot of investors want to track their trades on the move. 

Storage options and wallets

Without an appropriate wallet and storage option, you might find it difficult to trade online and to store your BTC safely. There are multitudes of different types of wallets available. You should be aware that you can choose from several formats, including a desktop, mobile, hardware, web wallet, to name a few. For online trading, online wallets are particularly useful because you can register and trade from your browser on any device. As mobile usage is increasing, a lot of investors are also looking for reliable mobile wallets not just for trading but also for online shopping. 

In addition, desktop wallets are also quite popular, and they are pretty safe because they are installed on your computer. But, they’re not that accessible as mobile and online wallets. Furthermore, you can also consider backing up and storing your BTC safely, especially if you're looking for a long-term investment. Some great examples include hardware, sound, and paper wallet.