What is Bitcoin
Bitcoin is a decentralized digital currency that has existed since around 2009. Its creator or creators posted it’s open-source software under the name Satoshi Nakamoto, though who this person(s) is has yet to be verified. People unfamiliar with the decentralized concept are usually happy to find out that it means that no individual, organization or government that can undermine or get rid of Bitcoin. Another amazing feature of Bitcoin is that it operates on a public ledger, which has led to Bitcoin mining, as a way of having a consensus agreeing to each and every transaction, so that no one can step in and reverse a transaction or lie about a transaction they sent, as every transaction is viewable in perpetuity.
Is Bitcoin legal to purchase or own
Bitcoin has gained some unfounded notoriety as the currency for drug dealers and dark corners of the internet, even though it has also been used to help dissents that are being threatened by oppressive governments, as well as people that have had their currency collapse due to sanctions and war. Certain countries have begun to tax Bitcoin in order to profit from it, as well as to steer some people away from it due to high tax rate associated with it, which has only helped cement Bitcoin as a legitimate currency, while other counties such as China have banned and unbanned Bitcoin repeatedly. The overall legality of Bitcoin can and has changed repeatedly, so there is no set in stone answer to its legality, so keep this in mind when deciding if Bitcoin is the currency you want to use for your transactions or investments.
Arbitrage trading with Bitrage
Fortunately for cryptocurrency enthusiast, Bitcoin exchanges are unified in their constant up-time, regardless of geographic location, although there are still plenty of problems that can stop you from doing arbitrage trading manually. Due to the fees associated with purchasing assets on crypto exchanges, as well as the confirmations required by miners on the networks, sometimes you can initiate a request for what you think can be a profitable trade, but by the time you begin the process, the prices have flipped and you might end up trading at a loss if you didn’t notice the price variation.
Bitrage works by engaging in arbitrage trading between different markets, looking for prices fluctuations on various cryptocurrency pairs.
If you are unfamiliar with what arbitrage trading, the best example would be that prices and volumes between different pairs vary, sometimes quite wildly , so if you had bought a cryptocurrency for 1000 dollars, but on a different market the same amount of cryptocurrency was valued at 1500 dollars, you could very quickly make an extra 500 dollars by simply being able to quickly trade that asset between markets.
Where can I buy Bitcoin
Bitcoin is widely available now, for even the most novice of technology users. There are grocery stores where you can cash in your change jar for actual Bitcoin, as well automated trading as phone applications that you can also use to easily purchase Bitcoin. The phone applications will also make it simple for you to send and receive Bitcoin, as well as a few other altcoin currencies. By browsing the web, you can also find local technology enthusiast that are also available for face to face exchanges as well.
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Scalp trading with a trading bot
Crypto trading bots generate money due to numerous factors, such as being able to run 24 hours a day, 7 days a week. Also, the bots have no emotions to cloud judgement, as automated cryptocurrency trading bots run of off algorithms that you configure to reflect your particular trading style. A lot of new traders that are trying to actively trade using the Gunbot automated trading bot use the Emotionless trading strategy, as it is a strategy dedicated to ease of use and consistent, small trades. As soon as a coin moves slightly downwards, against its usual trajectory, the Emotionless trading strategy will place an order as long as it’s gone down 1 percent (though you can modify this) and will sell as soon as the coin has gained ½ percent of profit (also a setting you can change). The likelihood of a trader being able to configure this exact strategy by hand for any and every coin they are interested in trading is rather minimal, but with Gunbot, you can do this in about 5 minutes of data entry.
Learning to trade through a trading bot
In summary, to the question of “can a crypto trading bot really generate moneyâ€, with a small bit of attentiveness and a steady internet connection, the answer is yes. Trying to HODL in hopes for better days can be a heavy burden and end up in a consistent devaluation of a coin you invest in. Day trading can be very time consuming, yet at times not as rewarding as even a minimum-wage job, regardless of the amount of time you invest into it. Emotional entanglement with your investments can lead you chasing green candles and ending up with heavy bags repeatedly, so bitcoin removing that risk by trading with something like the Gunbot trading bot can give you more free time, as well as maximize your overall profitability.
Read more about this at the source : crypto press news