How to buy and sell Bitcoin on the app store?

By Mitch Rice

If you wish to trade the Bitcoin you need to speculate on price movements. Earlier, one could buy Bitcoins traditionally through cryptocurrency exchanges and pray that the prices would rise eventually. Now traders are using derivatives for speculating on falling and rising prices to take advantage of Bitcoin’s price volatility.

To be able to maximize advantages of fluctuating prices, you would have to understand some key factors, like the current Bitcoin supply, stay updated about any breaking news regarding the coin’s security or value, assess the extent to which it has been integrated into the new payment systems, and keep a track of key events like security breaches or new regulations.

How to buy and sell Bitcoins:

To trade Bitcoins, you must follow some guidelines:

  • You can start day trading Bitcoins whereby you have to enter a trade and exit it by the end of the day. So, you can avoid overnight charges for your position and this strategy benefits those looking for short-term gains.
  • You could trend trade Bitcoins by taking positions that coincide with the existing trend. So, if the market is bullish you opt for a long-term trade but if it’s bearish, you choose to opt for short-term trades.
  • Hedging implies minimizing your risks by adopting a position that is opposed to the one you had opened. This happens when you suspect the market will go against you.
  • You can choose the HODLing strategies whereby you hold onto the coins you have bought for the long-term in the hope that prices will escalate.
  • You can make use of automated bitcoin trading apps which make the trading process convenient and time saving. There are some trending apps like the news spy that you can have a look at.
  • You can easily buy BTC through exchanges. This benefits people who adopt the HODLing strategy. Many exchanges however lack regulation and their servers may not always be trustworthy. Besides, you have to be aware of restrictions and trading fees imposed by these exchanges.
  • When you have decided to buy Bitcoins you must choose whether to opt for a long-term or short-term trade. When you choose the former, it means you predict that prices will rise.
  • You must deploy stops and limits as these are key risk-management tools. Guaranteed stops ensure that your position closes down when you determine a set level. This will happen regardless of slippage.
  • When you want to open trades you must monitor the market to ensure things are moving as you expected. You can avail of technical indicators to predict Bitcoin’s future prices.
  • You are free to exit when you wish to and take profits or cut losses when they reach a point that makes you anxious. Profits are then transferred to your account directly.

Coinbase app will allow you to transfer and store Bitcoins easily. When you buy BTC, you get to own these instantly because this is a user-friendly app that takes only a few minutes of your time for registration and transfer. Coinbase offers many tools that keep you informed about their features and upgrades so that your portfolio expands. The app allows you to track your Bitcoins through an easy-to-use dashboard whereby you can view Bitcoins prices at any time or from anywhere, whether you are using a laptop or smartphone. You can be sure your account is completely secure because Coinbase employs stringent security standards like multi-stage verification. You are free to lock your app with a passcode or even remotely disable phone access to the app in case it is misplaced or stolen.