The Bitcoin surge in price and cryptocurrency trading mania has got a lot of mainstream attention. Today’s article is all about the cryptocurrency trading strategy written by one annonymous trader who already made millions of dollars on this market. You’ve probably been hearing so much about this topic. There are tons of cryptocurrency trading strategies that promise to make you rich. Our insider understands that now everyone wants a piece of the pie but there are lots of dangers and that is the reason why he has put together this article.
The trading bitcoin for profit is actually a universal cryptocurrency trading strategy that 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. If you are experienced, just skip this intro part and jump on the next page of this article.
What is a Cryptocurrency?
At the most basic level, a cryptocurrency is really no different than the money you have in your wallet in the sense that they have no intrinsic value and cryptocurrency are just bits of data while real money is just pieces of paper.
Unlike fiat money, Bitcoins and other cryptocurrencies have no central bank that controls them which means that cryptocurrencies can be sent directly from user to user without any credit cards or banks acting as the intermediary. The major advantage of cryptocurrencies is that you can’t print them like central banks do to create fiat money.
When you print lots of money, inflation goes up which makes the currency value going down. Since there is a limited amount of Bitcoins and this holds true for the majority of the other cryptocurrencies, the supply side can’t increase which makes Bitcoin less prone to being affected by inflation.
Now, let’s move forward and see how we can profit from the cryptocurrency mania by using our best Bitcoin trading strategy.