Updated: Jul 16, 2020
Cryptocurrencies have grown in popularity today, and in Estonia, Bitcoin trading is one of the most rewarding monetary ventures. Estonia is one of the few countries whose government has embraced and supports the growth of the crypto sector with no strict restrictions or regulations.
BuyBitcoin24 will help you find the best exchange for bitcoin trading.
Bitcoin trading involves buying bitcoin and selling it off on a cryptocurrency exchange when the price rises. There are many cryptocurrency exchanges where you can trade bitcoin, but some may not be legit. You can compare different exchanges on BuyBitcoin24 to find the best and trustworthy exchange offering excellent rates. Bitcoin trading has helped several professional traders in Estonia to become millionaires.
A professional bitcoin trader is a cryptocurrency market enthusiast dealing in buying and selling bitcoin to make gains when prices rise. Most importantly, the trader will anticipate that bitcoin's price will go upward or drop, and then they can take positions instead of making impulsive investments.
Methods of Bitcoin trading
Proprietary trading: Among the simplest ways to become a professional trader is through proprietary bitcoin trading. This trading model is simple. It involves purchasing a given amount of cryptocurrency or bitcoin from a crypto exchange and selling it later when prices surge significantly for you to realize profits. Although this trading method looks straightforward, it might not be as so because there are several hassles along the way.
The first thing to do is find a trusted crypto exchange in Estonia, and this you can easily find this by comparing available exchanges on BuyBitcoin24. Please don't go with the first crypto exchange you stumble upon because they may be charging unreasonable exchange fees and may not have market credibility.
With BuyBitcoin24's comparison, you can quickly uncover exchanges that offer different benefits that you can leverage. It would help if you also considered the volatility of the cryptocurrency because bitcoin fluctuates significantly. Today it might be flying high, and tomorrow it falls dramatically; thus, one must be careful.
Market Trading: This is another method of bitcoin trading where traders make money by offering market liquidity. Traders make cash by setting limit orders on both the bid and ask, and thus they profit is spread in both directions. The buyer orders will be the bid, while for the seller order, it will be the ask.
For instance, you are trading on a crypto exchange platform, and you place an order for bitcoin worth $2998 while bitcoin is trading at $3,000. If you sell the cryptocurrency later for an order of $4,002, you will have made a profit of $1002. Although this appears to be very low the excellent part, you will be making this regularly.
Before considering bitcoin trading, it is vital to conduct research, and this is where platforms like BuyBitcoin24 are essential. You will get reviews in crypto exchanges and comparisons on which are the trusted exchanges to help you.