Trading in cryptocurrencies means being able to exchange Bitcoins and Altcoins for USD or BTC. It does not require mining hardware or the purchase of Bitcoin cloud mining programs.
Like any other assets exchange, you need at least a small knowledge of the markets and be aware of the amount of money you can eventually afford to lose.
Assuming that you already have trading experience in the past, you will discover with crypto trading that this market can be very speculative than trading traditional stocks.
To start a trade is quite simple but we recommend you to follow what the market tells you and not to act impulsively.
Especially with cryptocurrencies, there is a high possibility of having sudden and unexpected price fluctuations.
‘Buy low and sell high’ is an old trader’s saying which should be followed before opening any position.
You should not limit yourself by your intuition but you should also follow news, suggestions and technical analysis from other sources.
Before beginning the procedure of trading with cryptocurrency, you must be fully aware of the website or company that you plan to operate and trade with.
Visiting their website is often the first and simple step to check if a company is legit and active.
Other sources are social media for the related coin and cryptoforums like Bitcointalk for example.
If you are interested in investment your money into a coin, then you should look at historical price movements. This will help you in determining which is the best entry point. It also helps users to set a goal of the gain that they would like to achieve
Investors and traders must be careful whilst dealing with digital currency. Frauds and other trickery often take place and fake values are created by pumpers and dumpers.
If you are looking for a long term investment, you should avoid those coins that have reached an abnormal peak in a short timeframe.
On the contrary, if you are looking for a high speculative trade, then ‘pump and dump’ is your best choice but you should ‘jump on the train’ at the right time and not wait too long.
Trading in cryptocurrencies doesn't have rules except the most important of any other investment you can make which are:
1- Don't put more money than you can afford to lose
2- Secure your winnings and limit your losses
Make sure you are fully aware of the benefits, information and risks of trading with digital currency before start trading with it.
Steps for Trading at Bitotal:
1. If you already have an account with us, you can login from here
2. If you do not have an account, then you'll need to sign up on the Bitotal by clicking on the ‘Create an Account’ tab or by clicking here
3. Activate your account by clicking on the link we will send you to the email provided
4. Make the preferred deposit into your account through the given options. These include bank wire and a wide range of cryptocurrencies as well.
5. After entering your personal Bitotal account, you have on your left sidebar a list of indexes, funds and coins to choose from. Click on any of it from the list to see more information and charts of the asset. You will also see list of buy or sell orders from other traders.
6. To start a new trade fill amount of coins to buy or sell in the right column box and and click on the button to send your order
7. If there is a match with another user order than your request will be filled immediately, otherwise it will be visible in your orders history and to other traders too.
You don't need to wait for the order to be filled as everything goes automatically.