Bitcoin trading is at its peak these days. Thousands of new users join the network in the quest for making money. All of us have heard stories of how Bitcoin managed to change the lives of many people around the world. Many of them even became overnight millionaires by making a simple investment.
Not only that, but many celebrities, including the likes of 50 Cent, Logic, Elon Musk, Serena Williams, Gwyneth Paltrow, Floyd Mayweather, and Paris Hilton have also ventured into this business and reports say that they’ve made a lot of money.
Since Bitcoin is headlining the financial news in every corner of the planet, we decided to take a more detailed look and get you familiar with the process of trading with Bitcoin.
Logically, before you are able to sell Bitcoins, you must earn them. The best way to do that is through mining. This is a process on which the whole network depends as miners actually record and verify Bitcoin transactions. In doing so, they update the blockchain daily and allow the network to keep rising. With mining, people solve complex puzzles and even though it may seem simple, it is far from it.
The reward for mining is Bitcoins.
Registering and Making a Deposit at A Trading Site
After you earn a certain amount of Bitcoins, it is time to sell them. That is what trading sites are here for. Research which trading site will suit your individual needs the most and how trustworthy the chosen platform is. After you make a decision, all that is left is to register by filling out an online form and making a deposit.
Some Trading Sites Offer Additional Services
Many reputable trading sites even offer an additional service that can maximize your profits. This additional service is the usage of an AI system that is designed to keep an eye on the Bitcoin market at all times.
Immediate Edge, one of the world’s most reputable trading sites, has the most advanced AI system of this type. The software collects all the data about Bitcoin from the market and analyzes it with great attention to detail. After the data is analyzed, the AI system makes accurate predictions on Bitcoin’s future fluctuations. The predictions are very precise, which is why the daily profitability rate at this platform is very high.
These results are shared with the traders, who now gain info on when is the best time to sell their assets and make the highest possible profit.
It is interesting to mention that before trading sites started gaining popularity, people used Bitcoin ATMs to trade with the cryptocurrency. Yes, these ATMs still exist but they are inferior to trading sites, which is why we advise you not to pick them. Trading sites like the one we just mentioned have much lower fees and easier access.
Keep an Eye on Halving Events
One additional thing that you should always keep an eye out for are halving events. These events take place when 210,000 Bitcoins are mined, which usually happens every four years. During halving events, the circulation of Bitcoins is cut drastically, which is why they often lead to massive price surges.
So far, Bitcoin has had 3 halving events – 2012, 2016, and 2020. Every one of these events led to spikes in its value. The 2012 halving event led to a price surge in January 2014 ($713). The halving event in 2016 led to a spike in value in December 2017 (over $19,000), and the most recent halving event, which took place in May 2020, helped Bitcoin top $50,000 in value.