Bitcoin comes with its uniqueness when compared to other cryptocurrencies because of various reasons. Here are some of the most popular ones.
One reason why other cryptocurrencies emulate Bitcoin is its proven security and network effect. Bitcoin possesses the biggest developer ecosystem since it features more implementations and more software than any other crypto asset.
The most important factor regarding cryptocurrency is its security. Since Bitcoin’s inception, it has remained a secure cryptocurrency, thus earning the trust of its users. That is why Bitcoin continues to top the list of cryptocurrencies, and more people are trading it.
Today, Bitcoin remains the most preferred and accepted cryptocurrency worldwide. Some countries have even adopted Bitcoin as a legal tender. Also, most stores accept Bitcoin as a method of payment, and people can use it to buy goods and services. Companies are joining the movement and accepting Bitcoin as a payment option too. This has increased Bitcoin acceptance and consequently made it more popular.
Bitcoin has often been referred to as ‘digital gold’ because users can save and retrieve this cryptocurrency in the future without it losing its value.
Users can trade on the value of the coins. People can use credit cards, gift cards, or cash to obtain Bitcoin and then hold it for a long time, which can help them survive a bear market. Due to its ability to hold its value, Bitcoin has been predicted to be the future of money.
It is easier to access Bitcoin than any other cryptocurrency. People can access it in more merchants, trading platforms, and software that supports it. Those who wish to trade Bitcoin can do so on the many P2P platforms, crypto exchanges, and other places.
Also, they can convert Bitcoin to their fiat currencies through digital exchange platforms. These platforms offer them the best rates for Bitcoin as well as gift cards. Since Bitcoin is very accessible, it is also more liquid with bigger volumes. Traders on the Immediate GPT can trade on the value of Bitcoin only.
Bitcoin is considered a digital currency that one can store in their digital storage space or a cryptocurrency exchange.
Every coin holds Bitcoin’s current price value. However, a person can also own only a small share of every coin. The tiniest Bitcoin denomination is known as Satoshi, which is also the name of Bitcoin’s inventor.
In Bitcoin value, a Satoshi represents a hundred millionth of the coin, which makes it common for people to own fractional shares of this popular cryptocurrency. This is how Bitcoin works.
Blockchain is the open-source code that powers Bitcoin by creating a shared public transaction history.
It then organizes these transactions into blocks that are then chained together to ensure that no tampering happens. Blockchain works by creating a permanent record for every transaction. Also, it creates a way for each Bitcoin user to have an understanding of who owns which Bitcoin.
Mining refers to the process of verifying transactions by users on the Bitcoin blockchain. The process is created to keep confirming that any old transactions have been completed.
It ensures that Bitcoin holders don’t spend any Bitcoin they don’t own or one they had already spent.
A Bitcoin storage space comes with a private and a public key.
These keys work collectively to give the Bitcoin user the power to initiate and sign transactions digitally. As a result, a central function of Bitcoin is unlocked, which allows a secure transfer of ownership to happen from one Bitcoin user to the other.
Cryptocurrencies with big market capitalization such as Bitcoin, Ripple, and Ethereum all use distinct technology. However, trends have demonstrated that most cryptocurrencies move in a similar direction almost all the time.
Media coverage and hype are similar whenever assets go through huge price fluctuations. If people choose to act on the added interest, the results could be potentially changed cryptocurrency prices.
Since cryptocurrencies are still considered relatively new, it could be a challenge to project their likely price targets. One method to project their price is by the use of technical analysis, including price patterns, signals, and charts.
On-chain analysis only applies to cryptocurrencies and is based on the public information one can get from blockchains. Just like the price-earnings ratio found in stocks, one can analyze all the transactions to view how people are trading it and hypothesize whether its true value is reflected by the market price.
Immediate GP is a user-friendly, accessible, and intuitive cryptocurrency trading platform. It is loaded with great features to help traders, both novices and professionals navigate the complex world of cryptocurrency trading with ease.
Immediate GP was designed with the traders’ needs in consideration, especially those who have never heard about trading and are venturing into trading for the first time. It provides them with all the information they may need to learn how a trading platform works. Also, traders will find all the necessary trading tools to help them in their journey. The platform doesn’t hesitate to remind traders that crypto trading is a highly risky venture that they should treat with caution.
Immediate GPT comes with a comprehensive user interface to allow traders to see the big picture when they are exploring market data. That way, they can cultivate their confidence and sharpen their trading skills over time.
Since the platform was designed with novice traders in mind, it features a user-friendly interface that allows traders to easily navigate it to learn everything they need to know about cryptocurrency trading. New traders can also opt for the demo account feature offered on this platform to practice their trading techniques.
The demo account allows them to use fake money and execute fake trades so that they can formulate trading strategies and develop their skills before risking their money on a live trading account. Also, each trader gets a partnered broker who calls them once they sign up to teach them a few basics on how the platform works and more about crypto trading.
Immediate GPT allows its users to trade on various digital assets. It does the heavy lifting work of analyzing the crypto markets each day and presents traders with several opportunities and trading methods based on their pre-set parameters. That way, traders can determine the type of trade they wish to make, and even discuss it with their partnered broker.
Traders can use Immediate GPT available features to help them navigate the platform and build their strategies. With all the important charts presented to them, traders can then formulate their trading strategies depending on their needs. It might help them make better decisions with time.
The Immediate GPT uses various trading methods, all of which are high frequency. They correlate prices to various Bitcoin exchanges, which allows them to formulate real-time trades. The platform can assess the best market entry and exit points. It’s like it sends the signal to partnered brokers who proceed to perform transactions as per the trader’s set parameters.
Once a trader fills out the necessary information, they receive an email with a verification link. By clicking on the link, they verify their accounts and are redirected to their broker’s website. At this stage, a partnered broker also calls the trader. Traders can take advantage of their partnered brokers by asking as many questions as they may have. The broker teaches traders how the platform works and can work with them as they polish their trading skills.
Once traders are redirected to their brokers’ websites, they can choose to start trading with a demo account, which doesn’t require any funding. However, if one wishes to start live trading, one should start by funding their account. The platform has a set minimum deposit amount, which they can view. They can fund their accounts through their preferred payment method, provided it’s accepted on the platform.
After funding their accounts, traders can then share their trading preferences and parameters with their partnered brokers so that they can look for those trading opportunities that match their parameters.
Traders should understand the risks involved in crypto trading, and if they still choose to start live trading, they can do so with funded accounts. New traders should consider learning about trading first. They can begin by studying the crypto market, analyzing the current trends, and formulating their trading strategy.
To put their strategy to test, new traders can begin with small trades and then tweak their trading strategies while making necessary changes as per the results they get. Learning from their mistakes is important and traders can always consult with their brokers if they are not sure about something.
Immediate GPT offers traders numerous features to help them along the way. Their onboarding process is seamless since traders only need to open an account without paying any fees. After signing up, traders get a call from a partnered broker through the phone number they provided.
The brokers help traders properly set up their Immediate GPT trading accounts. These partnered brokers are meant to teach traders how to use the platform, and they can answer any trading question that a trader might have for them. However, the final decision of whether to start trading lies in the hands of traders.
Also, once one sign-up at Immediate GPT, they can practice trading with a demo account which is available for everyone. It allows them to have a feel of live trading without risking their money. The demo mode helps traders determine whether the trading platform meets their needs by evaluating its performance in distinct market conditions.
Apart from the partnered broker who answers traders’ questions, there is also a comprehensive FAQs section, that can help by answering some of the pressing questions traders might have.
Bitcoin trading is a complex venture, that one needs to fully master before venturing into it. New traders should consider spending as much time as they can to learn and analyze the markets and trends. A lot of patience is required for one to improve their trading skills.
Once one is comfortable with reading charts, analyzing markets, and keeping up with the latest trends, they can then use a reputable trading platform such as Immediate GPT that features a user-friendly interface and provides traders with all the tools they need to start trading.
You won't be able to sell Bitcoin or its fractions. The trading platforms allow users to speculate on the value of Bitcoin without actually buying or selling the cryptocurrency. Therefore, you can only trade the value of Bitcoin on such platforms, which means that you cannot buy or sell any fractions of Bitcoin.
Like any other type of financial trading, cryptocurrency trading needs skills, expertise, and capital. Those who wish to start trading Bitcoin should first gain the necessary skills so that they can comfortably analyze the crypto trading market. They need to remember that cryptocurrencies are extremely volatile, and therefore come with high risks.
Leverage refers to a trader borrowing funds from their broker to make their trading position bigger beyond their cash balance. Although they might get good results from leveraging, the process can also exacerbate their losses. That is why traders need to exercise extreme caution when making crypto trading decisions due to the risks involved.