The article presents five of the best Bitcoin trading exchanges available right now. Bitcoin is a type of digital currency that has become quite popular among people in recent years. Despite the fact that these currencies are relatively unregulated and have a global market, regular traders are able to use apps that will help them gain a better understanding of how these currencies work and how they can be profitable.
What Is Bitcoin Trading?
Bitcoin trading refers to the act of buying and selling Bitcoin through an exchange platform. The first way to trade Bitcoin is to buy and sell it on a cryptocurrency exchange. A derivative financial instrument, such as Contracts for Difference (CFD), can also be used to trade Bitcoin. By trading CFDs, you can bet on Bitcoin price changes without actually owning any underlying coins and trade according to the direction of market movement over very short periods of time.
CFDs have become an increasingly popular way of trading in Bitcoin, since they offer greater flexibility and they can be used with the optimum amount of leverage, allowing the trader to take both short and long positions at the same time.
To start trading in bitcoin, one must be well-informed and familiar with the subject. One must also be aware of the associated risks and regulatory laws that may impact one’s decisions and jurisdictions.
Step-By-Step Guide On How To Start Bitcoin Trading
Sign-up For A Cryptocurrency Exchange: A Bitcoin trading account can be opened very quickly and easily. In order to open an account with Bitcoin-friendly exchanges, such as BTCC, WazirX, Zebpay, CoinSwitch Kuber and others, you need to provide personal information and follow Know Your Customer (KYC) requirements. These exchanges all have an easy to use interface and offer a wide range of coins, including Bitcoin.
- Put Money into Your Account
Once you’ve signed up with a crypto exchange, the next step is to fund your account by making bank deposits, peer-to-peer transfers, and other wire transfers.
- Pick Bitcoin To Invest In
You can choose the quantity of Bitcoin that you wish to buy after depositing money into your account.
- Start the Process of Trading In Bitcoin
When you have purchased Bitcoin, you can now begin trading as per your chosen trading strategy. For starters, you can also use Bitcoin trading bots, which are available on most cryptocurrency exchanges. Depending on your trading objectives, this automated process can help you generate substantial returns.
- Store Your Bitcoins Safely in Digital Wallets
To access your Bitcoins, you may need to store them on an exchange if you are an active Bitcoin trader. A Bitcoin wallet can also be purchased for you if you intend to hold your Bitcoins for a short time. There are two types of digital wallets: software and hardware wallets, each of which has its own advantages and disadvantages.
Best 5 Bitcoin Trading Exchanges
1, BTCC
Based in June 2011, BTCC is a well-known cryptocurrency exchange whose goal is to make crypto trading easy and reliable. BTCC has been providing top-notch technology and safe trading services with crypto licenses in the US, Canada, and Europe for more than 12 years. As one of the world’s longest-running crypto exchanges, it has endured many market cycles with ups and downs. The BTCC continuously strives to provide an optimal trading environment for crypto enthusiasts globally by prioritizing the improvement of every aspect of their trading experience. Overall, the BTCC is a reputable exchange that has a passion for meeting the needs of its users.
2, Wazirx
The WazirX exchange in India, headquartered in Mumbai, India, is a bitcoin and cryptocurrency exchange with a peer-to-peer (P2P) matching engine. The WazirX exchange in India was the first to use the P2P engine after the Indian central bank barred banks from dealing with cryptocurrency businesses.
WazirX was founded in 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. WazirX is available on five platforms-Web, Android and iOS mobile, Windows, and Mac. With 60-70 percent of the Indian digital currency exchange market share and the largest NFT marketplace in India, WazirX was India’s largest digital currency exchange in January 2022. According to WazirX, its 24-hour trading volume was $55 million as of February 22, 2022, with 229 coins and 428 trading pairs on the exchange.
3, Zebpay
The ZebPay cryptocurrency exchange and wallet provider has offices in Singapore and Australia. It operates in over 163 countries, including India.
Founded in 2014, ZebPay was founded by Sandeep Goenka, Saurabh Agarwal, and Mahin Gupta. It launched its wallet service that same year and rapidly became the largest cryptocurrency exchange in the country. In July 2015, ZebPay launched its app for traders, and in December 2017, the company had a USD 1 billion trading volume. Many exchanges in the country, including ZebPay, shut down operations in 2018, after the RBI issued a notice prohibiting entities regulated by it from dealing in virtual currencies.
Following its expansion into Australia and other countries in 2020, ZebPay was acquired by Rahul Pagidipati, who relaunched the company in India. In February 2020, the company launched five crypto-crypto trading pairs. After the Supreme Court hearing on March 4, 2020, INR trading was introduced and instant deposit/withdrawal features were also introduced.
4, Coinswitch
CoinSwitch is India’s largest crypto app that has revolutionized the investment world. Beginning in 2017 with just a handful of employees, they have now grown to over 500 individuals and have more than 18 million users. Their mission is to democratize investments by making them simple, safe, and accessible for every Indian. CoinSwitch has gained recognition from some of the world’s leading investors, including a16z, Tiger Global, and Sequoia Capital. The company values customer obsession and an employee-first approach, which are reflected in their culture and work ethics. CoinSwitch continues to push boundaries and strives to make money equal for all.
5, Gemini
Gemini is a trusted digital currency exchange and custodial services platform that simplifies the process of buying, selling, and storing bitcoin and other types of cryptocurrency. Established in 2014 by the Winklevoss twins, Tyler and Cameron, Gemini has successfully implemented a “security-first” mentality, emphasizing the importance of transparency and integrity when handling digital assets. Whether you’re an individual or institution, Gemini provides a secure marketplace to help you manage your cryptocurrency investments with ease. Based in New York City, Gemini strives to maintain and earn the trust of its customers while providing simple, elegant, and secure crypto products.