Nursery
These are the basics. The building blocks you need to understand and trade crypto currencies successfully online
Preschool
We get into the real stuff where the action happens.
Primary School
You now need to take on some more responsibility before risking your funds.
Why Trade Bitcoin?
This is a very important question; Why trade Bitcoin? If you know the “why”, you can endure any “how”. Many believe that bitcoin trading is the wrong approach and that you should hodle bitcoin. This is not strictly true as bitcoin requires a balance between hodlers and traders, essentially hodlers and traders play on opposing teams in the same game. The only real difference is the exposure time.
6 Reasons to Trade Bitcoin
There are many benefits and advantages to trading Bitcoin. Here are just a few reasons why so many people are choosing this market:
Decentralized Valuations
Bitcoin is unique. In that, it is the only currency not issued by a central bank. So there is no central authority to manipulate its value. This can make it quite volatile. But, because it is free from central manipulation, its price can be considered fairer in many respects. Besides, volatility is the friend of any trader looking for greater profits, faster.
Low Transaction Costs
Moving bitcoins from one place to another is very cheap and quick, relative to FIAT. There are no clearing agencies, or banks involved. You thus eliminate the associated cost. Furthermore, popular exchanges do not charge any deposit fees. Bitcoin and similar digital currencies are by far the most cost-effective to move around for trading. This improves trading profits dramatically.
Low Trading Costs/Fees
When compared with usual forex trading accounts, the trading fees are incredibly low. Fees across exchanges vary, so do your research, but expect to find trading fees of around 0% – 1% per trade and transaction costs of around 1%-3% (depending on exchange location, rate, trading volume, and trading pairs)
Low Required Deposit
You can start trading Bitcoin and cryptocurrencies with as little as ZAR 250. Again, a figure that low cannot be achieved trading any other forex, currencies or commodities. So Learning in a live environment does not have to be costly.
No Global Boundaries
The Bitcoin network is global decentralised and runs 24/7. There are no global boundaries. Anyone, from anywhere, can trade at any time. With Bitcoin, a South African trader can make a trade with a London based Broker, for example, on a Sunday at 5 in the evening. If both parties are willing to transact, the boundaries are eliminated. There is no opening or closing, unlike other forex markets, digital currency markets truly trade 24/7.
Arbitrage Opportunities
Digital currency trades across multiple exchanges, all around the world. The different types of cryptocurrencies (Bitcoin, Litecoin, etc) all have strong similarities and move between each other fluidly, quickly and easily. Because these are a new assets class, they are young and relatively thinly traded. This provides an exciting opportunity, across multiple exchanges. Exchange rates can vary between exchanges significantly. So arbitrage trading is possible, quite simple and can be very profitable.
Cryptocurrencies represent a new, exciting and unique asset class. Trading with digital currency like bitcoin provides both new opportunities and risks. Consult with the support staff at iCE3X for any specific questions you may have about trading on iCE3X. Our help desk is one of the best in the industry. We provide ourselves on the assistance we provide to you, the client.