What is Bitcoin Auto Trading? Explained in Detail
Bitcoin Auto Trading is the process of automatically trading cryptocurrencies. The idea behind BitcoinStorm Login is that it can be a beneficial form of passive income for anyone without requiring any extra work.
Bitcoin Auto Trading has been around for a few years now, and there are hundreds of people turning small amounts of their time into some extra cash every month. The business model seems to have plenty of room for growth, making it more appealing as a side-hustle opportunity.
What exactly does Bitcoin Auto Trading entail?
Bitcoin Auto-Trading can be achieved in one of two ways:
Buying and Selling Cryptocurrencies directly through an Exchange.
I am buying a Crypto trading Bot, which automatically does the buying and selling for you.
Cryptocurrency Exchanges are online marketplaces that allow people to buy, sell, and trade cryptocurrencies. These Exchanges work by pairing buyers with sellers. When a buyer wants to buy a particular cryptocurrency, they tell the Exchange, and it finds the sellers who have that cryptocurrency available to sell.
The selling of a cryptocurrency is known as an Order, and when a seller accepts a buyer’s order, they will transfer funds from their order wallet to the buyer’s wallet. The buyers then deposit money into their Exchange accounts (known as wallets) and place their orders for whichever cryptocurrency they want to buy. The sellers then have their wallets queried, and if they have the cryptocurrency available to sell, they accept the orders.
The process works in reverse for sellers.
Because buyers and sellers interact directly instead of going through an Exchange, these are sometimes known as direct trades. Because direct-trading increases liquidity in the market, it is said to create more automated trading opportunities, hence ‘automated trading’. There are advantages to both approaches, but there is also more significant potential for fraud and manipulation in some cases when trading directly between individuals rather than through an Exchange.
Most people start by buying and selling cryptocurrency in bulk but then want to trade it in Exchange for profit. This is fine for the first 2-to 4 months when getting into a good trading position might be challenging. But after that, if you’re watching the market closely enough, you can see opportunities appear and take advantage of them before they disappear.
Once you have a good understanding of the market over time, trading cryptocurrency directly could become more viable. This is when it becomes easier to spot opportunities and potentially easier to make mistakes. There are plenty of people who manage to make money through direct trading, but there are also many more who lose it.
How do you get started?
The first thing you need is an Exchange, which can be any of the hundreds available today. However, if you’re looking for something specific, then I’d recommend Coinmama as they offer the lowest fees and most user-friendly interface, among other things.
After you have an excellent Exchange account, you’ll need to sign up for a Cryptocurrency Trading Bot. This is an automated trading program that controls and manages your money, purchases Cryptocurrencies, and places sell orders according to the market’s price fluctuations. There are many different bots to choose from, but we recommend Coinspot Bot, a web-based bot that sets you up with all the information you need using our guide on How To Set Up A BitcoinStorm Login. After everything is completed, you’ll only be able to access your account through your web browser.
