Bitcoin has become a global phenomenon since 2009. Its historic rise to prominence is unlike anything seen before or anything anyone is going to see any time soon. It has gone from being a novelty to potentially being used as a solution to much of the world’s global economic issues. That’s why you’ve seen so many people investing in it and why you should consider it too.
Buying and selling Bitcoin isn’t as simple as that, though. For someone that hasn’t ever traded before, it can present a bit of a problem. There are systems, methods, and brokers associated with Bitcoin trading that can be intimidating for first-time investors, which is why the team decided to create BitProfit. It is a Bitcoin trading platform designed to streamline the entire trading process. It has been built by professionals for beginners to make investing as simple as possible.
Even if you’ve never traded anything before, you can still learn how to use BitProfit.Setting up your account is easy, and you can start your journey to become a Bitcoin trader by learning the ins and outs of the market.
To guide you through this, BitProfit offers a user-friendly interface, a demo trading feature, all the information you need to start trading, and a broker to help you realize your goals.
For most people, the interest in Bitcoin investing comes from hearing about it from somewhere rather than already knowing what the coin entails. This tends to mean that most beginners know about Bitcoin but not what Bitcoin actually is.
Before you sign up with BitProfit, here’s an introduction to some of the basic Bitcoin concepts you should know in order to better understand what it is that you’re buying and selling.
Bitcoin, in the simplest terms, is a digital currency. It is a way for individuals and organizations to store and transfer value digitally rather than going through time-consuming banking processes. You can use it to buy things on certain sites, with more and more retailers accepting it as a form of payment every day. Even VISA has recently announced its plans to launch a cryptocurrency system.
That’s the most basic explanation of Bitcoin – digital money that is faster to transfer than traditional fiat currency.
Of course, Bitcoin is a bit more complicated than that.
Bitcoin isn’t just the world’s market leader in the cryptocurrency space; it’s also a coin that has been designed to solve a few key issues associated with macroeconomics. Specifically, it deals with the issue of inflation.
The most principled law of economics is the one of supply and demand. The more people and something and the less of it there is, the more it’s worth. The more of it there is, the less it’s worth. This idea applies to both objects as well as currencies. In fact, it’s specifically relevant as currencies around the globe are easily the most sought-after item on the planet.
However, it’s not the demand that’s a problem; it’s the supply. There is too much money in circulation, and every year more and more gets printed. Think back to just 10 years ago and how much one dollar could buy compared to now. While some state that this decrease in value comes with increased wages, that’s true, but the ratios haven’t been proportional.
Inflation not only destroys saving accounts and devalues money, but it’s a leading cause of the recession and economic crashes. Due to the way fiat currencies have been designed, economies run on cycles that crash and boom at regular intervals.
Bitcoin fixes that broken system by being a currency that is completely inflation-proof.
Traditional money inflates because of how it is produced. There are humans in charge of the process that gets to decide how much is printed and when it’s printed. This inherently flawed system turns money into an infinite resource. Compare that to gold, which is scarce, and you should be able to see the problem.
With Bitcoin, not only is the method of production automated, but it’s a finite resource. In about 120 years’ time, the Bitcoin blockchain is going to stop producing, meaning that there is never going to be more.
This little aspect of the coin adds immediate, tangible value to it. So much so that many people have taken to calling it “digital gold.”
Not only does this mean that governments are looking toward using Bitcoin as a saving grace, but companies like TESLA have begun moving money into the coin because it doesn’t depreciate year on year as the dollar does.
True, like all cryptocurrencies, Bitcoin is volatile and has been known to fluctuate quite radically, but the mere fact that Bitcoin is finite and therefore always in short demand makes it stand to reason that Bitcoin still has ways to go.
Signing up with BitProfit only takes you a few minutes. The team has done everything they can to make the platform as simple and intuitive as possible, so as long as you have the patience to learn, so long as you do the research needed to make sound trading decisions, with the help of BitProfit you’re likely to become a more seasoned trader over time.
BitProfit has been built by a team comprised of both engineers and professional Bitcoin traders to make sure you’re getting a technologically sound platform that provides you the information you need to start trading responsibly.
Not a lot of Bitcoin trading platforms out there have the advantage of being backed by Bitcoin traders. Most were designed by developers looking to make a quick buck and have no real expertise in what they’re helping you trade. This leaves a lot of beginners lost and can even deter them from ever investing again.
That’s the last thing the team wants you to do. It’s their goal to introduce people to Bitcoin, even if they’re using BitProfit as a steppingstone until they graduate to more complex trading channels.
They want to help people get involved in the industry while the barrier to entry is still manageable, and everything they’ve done has been based on that idea.
When the team was doing research for BitProfit, one thing that everyone noticed was that there were certain pain points that were turning beginners off using the mainstream Bitcoin trading platforms.
More specifically, they noticed three individual areas they need to improve: user interface, order placing, and the signup process.
If you’ve ever tried to use a regular Bitcoin broker before, then you know how complicated the layout of those websites can get. You have numbers and graphs flying at you from all directions, and if you don’t know how to read them, it can be overwhelming.
The team at BitProfit made a conscious effort to do away with all of the unnecessary technical information. Rather than throwing everything at you from the moment you log in, they aim to ease you into Bitcoin trading, allowing you to access the information when you’re ready.
The ordering placement is how you buy or sell Bitcoin through conventional brokerage channels. It involves you setting a price and volume amount, as well as a number of different variables and conditionals.
If you’re completely new to trading, you’re not going to have any idea how to read that system, and nobody is going to teach you on those platforms. You’re not going to know how to set up a stop-loss or take-profit position, so the team at BitProfit made a point of simplifying that process as much as possible.
A lot, if not all, traditional brokers have a long-winded signup process involving a time-consuming identity verification process that can take hours, if not longer.
At BitProfit, they’ve done away with most of it. One of the main benefits of using Bitcoin is that it’s anonymous, meaning no one but you can see what you do with the coins. Having the identity and personal information of every trader on file defeats that purpose.
The platform’s easy three-step signup process takes only a few minutes, making BitProfit as accessible as the team set out to make it.
Some of you may still have a lot of questions, so here’s a short list compiled to address some of the most common ones.
BitProfit has a minimum deposit limit of $250, lower than the industry standard of $500. While you can still invest as much as you want, $250 is the starting point the team recommends.
Yes, the platform only supports Bitcoin trading at the moment. There are plenty of other cryptocurrencies out there, but Bitcoin is the market leader and the most beginner-friendly one.
Trading Bitcoin doesn’t require much technical knowledge, whereas other coins have specific case uses that require knowledge before you start trading.
No matter how confident the team is about Bitcoin, investing is still a risky business. This means that you should only be investing money that you can afford to lose.
If you’re living paycheck to paycheck or struggling to make rent, you should avoid investing for now.
There’s an old investing rule that the team at BitProfit is fond of, “if you have money to burn, you have money to invest.”