Bitcoin is the hottest trading market right now. It is hotter than stock trading, oil trading, gold trading and any other market at this point. The reason people believe this is going to continue to be a hot market is because of blockchain technology. This is what allows transactions to happen without a central exchange. Here is another strategy on how to draw trend lines with fractals.
Trading bitcoin for profit is actually a universal cryptocurrency trading strategy. It can be used to trade any of the 800-plus cryptocurrencies available to trade as of today. If you’re not already familiar with cryptocurrencies it’s best to first start with a brief introduction.
Top Exchanges for Trading Bitcoin & Cryptocurrencies
One of the reasons why Bitcoin is so popular among day traders is that there are many different Bitcoin exchanges available. Finding the best Bitcoin exchange will depend on many different factors. These include your home country, the preferred method of payment, fees, limits, liquidity needs, and other factors.
Here are some of the top cryptocurrency exchanges in the market:
- Coinbase is the world’s largest crypto exchange. Available in the United States, Canada, and the majority of countries in Europe. Offers several payment options.
- Binance is the second-largest exchange that trades over 130 different currencies. Has low transaction fees (0.1%).
- Bitmex is the third-largest exchange and only trades BTC. Great for short selling and margin trades.
- Bittrex is a US-based exchange founded by ex-Microsoft security professionals.
- Robinhood is a new exchange with 6 million users and takes zero trading fees.
- OKEx is a Hong Kong-based exchange. Trades over 145 different cryptocurrencies.
- GDAX – United States-based exchange that allows users to trade Bitcoin, Ether, Litecoin, and other cryptocurrencies.
- itBit operates as both a global over-the-counter (OTC) trading desk and a global Bitcoin exchange platform.
- Coinmama – allows you to buy and sell easily. Accepts credit cards and has a large global reach.