Because of the popularity of cryptocurrency, a market was born to specifically trade cryptocurrency. Mostly, those ways have to do with the fact that bitcoin was invented in 2008, not centuries ago like most forex-traded currencies. That’s the number one rule to become a successful Bitcoin trader. A forex trade is simply an exchange of one currency for another at its current rate. Forex is far-and-away the world’s largest market, with daily trading volumes around $6.6 trillion, according to the Before you even start trading, don’t use all of your savings to trade Bitcoin. Although cryptocurrencies like bitcoin are gaining popularity, there are still many associated risks. Bitcoin is a digital currency, so investors may think of it in terms of the foreign currency exchange (forex) market. Consequently, bitcoin trading is simpler and more straightforward than forex. A forex trade is simply an exchange of one currency for another at its current rate. In forex trading, dealing in a decentralized currency that offers global transactions with no fees is an advantage. By making it a rule to trade only what you can lose, you won’t be very tense and worried when you’re trading Bitcoin since you can shoulder the losses. But even though talk about “trading pairs” just like forex traders, trading bitcoin is not like forex in important ways. However, there will be a time that prices will suddenly go down.how to buy bitcoin with debit card But because cryptocurrencies are such a brand-new asset class, even experienced investors may find themselves asking, “How do I trade bitcoin?” Since Bitcoin is the most known cryptocurrency, many people started trading Bitcoin online. Because of the popularity of cryptocurrency, a market was born to specifically trade cryptocurrency. Most of the time, your decisions on Bitcoin trades will only come from speculations, which is high risk. But the tradeoff is essentially adding a third currency to what was a trading pair. It's the job of those banks to stabilize the value of their currencies and keep them stable. For comparison, the value of global stock trading is estimated at only a few hundred billion dollars per day. In addition to these differences, experts like Investopedia recommend trading bitcoin at a regulated cryptocurrency exchange, such as Gemini Trust, rather than a traditional forex exchange, because cryptocurrency exchanges understand the market and security requirements better than forex markets. Meanwhile, is typically valued at less than $100 billion per day, though it rose slightly above $1 trillion on two days in 2018. The price behavior of Bitcoin can be very volatile. Then, you start thinking that it’ll still go up and end up not selling. Bitcoin, a type of cryptocurrency, has piqued the interest of so many people. By this time, it’ll be too late to sell.