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How to Invest Cryptocurrencies for Beginners

Thursday, August 27, 2020 20:01

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How to Invest Cryptocurrencies for Beginners

Often who decides to start trading online is driven by earning possibilities offered by some particularly volatile assets, such as cryptocurrencies.

Bitcoin is one of the most popular cryptos, a digital and decentralized system of virtual currencies. Increasingly exposed to the interest of investors, Bitcoin could be a profitable investment option.

Many beginners, however, are afraid to risk too much by investing without knowing the main features of cryptocurrencies or due to total inexperience in the industry. This is why many newbies are looking for a solution in crypto automated trading.

Is it safe to invest in crypto with automated systems? Even if the web is full of scams that operate with this system, so it is necessary to be very careful, basically, we can say that yes, it is safe to trade in this way. In fact, there are some very reliable platforms that allow you to trade safely, like eToro USA, the latest platform launched by eToro for U.S. customers.

Automatic Trading on Crypto: What Does eToro USA Offer?

To get concrete results from your online trading activity, it is essential to work with reliable, serious and well established brokers in the industry. This is why we can’t help but to mention the industry leader eToro, with whom newbies can start trading automatically on Bitcoins and other cryptocurrencies.

First of all, it should be noticed that this broker owns different licenses, awarded by CySEC, FCA, and ASIC which authorize and regulate the company and its services legally.

eToro has become so famous not only for its reliability but also for some of the most loved services it offers: Social Trading and Copy Trading.

The first one allows traders to connect with each other like in a social network, so that each user has a profile and can interact with others to share advice and suggestions.

What made the broker so famous was, however, the introduction of copy trading, a function that allows users to copy the operations made by popular investors trading on the platform.

Most users find this tool essential at the beginning to understand what are the best strategies to adopt and make profits even if they don’t have relevant experience in investing crypto.

The best way to gain experience for newbies is to start trading with a free and unrestricted demo account. This way, they can practice, study the markets, and test their skills without touching their funds: the broker will provide limitless virtual credit which can be spent on the markets.

How Automatic Trading on Cryptocurrencies Works

Starting to invest online with automated trading can be an advantageous option to discover the main features of Bitcoins and other cryptocurrencies.

In fact, it is good to know that cryptos are characterized by high daily volatility, which outlines continuous price fluctuations of the BTC.

Each trader follows his own path to respond promptly to the sudden changes in the value of the digital asset.

For example, some investors may follow strategies based on reading charts and indicators, others decide to base their forecasts on economic news that could affect the Bitcoin market position.

Being part of the cryptocurrency asset class, it is good to know that these digital currencies are mainly affected by the law of supply.

Beginners who do not know yet the dynamics that govern the financial markets can start with automatic Bitcoin trading , like suggested by eToro.

Does Investing in Bitcoins Pay Off?

Automatic trading is one of the first choices of inexperienced traders who want to try their hand in the online investment world. But, is investing in Bitcoin worth it?

Despite initial mistrust, the cryptocurrency class is managing to gain a dominant position in the financial markets. In fact, interest in Bitcoin has grown so much that it could be soon adopted as an official payment method in several countries.

One feature that makes crypto even more attractive than other assets is the limited number of virtual coins that can circulate over time. In simple terms, each digital currency can reach a maximum number of units and, as a result, it is not submitted to inflation.

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