Bitcoin trading is a relatively new phenomenon to some people. However, some are already conversant with Bitcoin trading and investing. Perhaps, you’ve read inspiring stories of people that have made millions by trading or investing in Bitcoin. Maybe this has prompted you to consider trading or to invest in this virtual asset.
Well, crypto exchanges like BWC make purchasing and selling Bitcoin straightforward. Ideally, you can sign up at such platforms, load your account with fiat money, and start trading Bitcoin. Perhaps, you can visit the BWC for more details.
Nevertheless, crypto exchanges enable traders to access, buy, and sell Bitcoin. They also provide real-time information to guide users in making buying and selling decisions. But how do you start using a Bitcoin trading app?
Getting Started with a Bitcoin Trading App
Most crypto trading apps have a straightforward registration process. However, some will vary slightly though the sign-up process is almost the same. Here’s how to get started with Bitcoin trading apps.
- Choose a crypto exchange: You’ll find many Bitcoin trading apps with varying features. Therefore, research different crypto exchanges or apps to find a platform with your desired features. Most importantly, pick a Bitcoin exchange with adequate security measures. Also, consider the payment method and currencies you can use or buy on the platform.
- Check availability: Pick a Bitcoin trading app or platform you can access in your geographic location. Some Bitcoin trading apps are web-based and unavailable in all places. Therefore, choose an application you can access, download, and install on your device.
- Download and install the App: Once you’ve identified a Bitcoin trading app that suits your needs, download and install it on your device. Most applications are downloadable from the providers’ websites, Apple Store, or Google Play.
- Create a trading account: After installing the Bitcoin trading app on your smartphone or computer, you need to create an account. Regulated Bitcoin trading apps require users to provide their full name, home address, country of residence, date of birth, contact details, national tax number, password, and username.
- Verify your identity: Some Bitcoin trading applications require new users to verify their identity. The identity verification process entails uploading proof of address and a copy of a driver’s license or passport. Verifying your identity is straightforward because you can use your smartphone’s camera and the trading application.
- Deposit funds: The crypto trading platform will require you to deposit some funds into your account before trading Bitcoin. The minimum deposit will vary depending on the crypto exchange. Some of the payment methods you can use may include e-wallet, bank transfer, and credit or debit card.
- Trade Bitcoin: Once you’ve added funds into your account with the Bitcoin trading app, you can start trading Bitcoin. Most crypto exchanges have many Bitcoin-dominated pairs. Therefore, browse the available options to start trading Bitcoin on the application.
Understand How the Bitcoin Trading App Works
Some Bitcoin trading applications have video demos showing how they work. However, most platforms require users to clock on the Bitcoin market they want to trade. After that, the app prompts them to set up their order.
Ideally, Bitcoin trading apps require users to enter their stake, meeting the minimum amount. Also, they can choose from a limit or market order and deploy take-profits and stop-loss orders. Placing an order entails clicking on the Open-Trade button.
The Bottom Line
You can find hundreds of Bitcoin trading applications online. What’s more, most crypto trading applications have almost the same registration and trading process. However, research the available Bitcoin trading apps to pick one that suits your needs.
