The capital of the Netherlands has a powerful 74 traders who are accepting Cryptocurrencies. They are also having a one Bitcoin ATM for a population of 779,000. Close by urban communities Utrecht and Hague are additionally shelters for the digital currency. Amsterdam is home to driving bitcoin new businesses.
This year in July, Dutch ministers had urged the country’s government to regulate cryptocurrencies and certain cash payments due to money laundering concerns. On 3rd of September this month had given their statement “In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.” The bank emphasized: “Firms that do not register will no longer be allowed to provide crypto exchange services and wallets.” The Dutch Central Bank has recognized the development of the crypto segment, expressing that “New crypto applications continue showing up and the crypto ecosystem keeps on advancing.”
There has been a rise in the popularity of Bitcoin recently, and there are few reasons why the Cryptocurrency has found so much popularity among traders. Unlike the traditional stock markets, bitcoin exchange market is always open. It is open 24/7, 365 days of the year. There is no closing or opening time. So you can make transactions whenever you want. Apart from that, the Bitcoin exchange market is a decentralized market, which means it does not have any such regulatory body or is not owned by a single organization or enterprise.
The Difference Between Investing In Bitcoins And Trading In Bitcoins
Do not be mistaken. Investing in Bitcoins and trading in Bitcoin are two separate things. Those who invest in bitcoin do it while keeping in mind they will hold onto it for a long time. They will buy Bitcoins now but will not sell it anytime soon, hoping to get high returns later on in future. Investors are basically optimists who believe that the price of Bitcoin will rise in the future no matter what happens in the present. But Bitcoin traders buy and sell Bitcoins within a short span of time, whenever they think they can make a profit.
Trading in Bitcoins will help you generate some quick cash. It does not necessarily mean that if you trade in Bitcoins, you cannot invest in it. Of course, you can invest in Bitcoins if you believe in the currency and the technology that is running the currency and the exchange market. But it is better to learn the rope of the Bitcoin exchange market before you start investing. Like the stock market, you need to analyze the market trends and then begin trading.
Always Have A Plan
You need to have a proper plan before you start buying and selling Bitcoins. You must know what you are getting into, what trend the market is following, and when and how to exit a trade. If you miss the timing, you can even incur losses! So make sure you know what you are doing.
Resist Spending More Than You Are Comfortable With
Do not spend more than you are supposed to. Stick to the amount that you are comfortable with. If you spend more money than you are supposed to, you can incur huge losses, even worse; you can lose your entire amount. Investing or trading do not take huge risks.
Use trading software to help you make informed decisions
Financial markets can be hard to study, and noticing the market trends can be harder for someone who did not major in finance or business. Since you obviously will not be going back to school to take a course in finance and marketing, you can use trading software to analyze the market trends, generate reports and in general help, you make informed decisions. The trading software can actually help you to avert risks and save money.
If you are worried about the safety and security of using trading software, you have to follow the old rules in the safety book. Never trust a trading software that has an unknown developer or asks for extremely personal information like bank details. There are various trading programs that are available in the market before you buy one, check the user reviews, check the developer, and then check for a trial version. It is always better to use the trial version before you buy the full version. This is because not every trading program is the same. They come with their own unique features that may or may not suit your trading ways. Also, this is, after all, a software, a computer-based application, which if not programmed right, can actually be devastating for you. This is why always use a trial version first, check if the software has been programmed properly or not and if it has options for setting parameters. Setting parameters will allow you to be away from your phone and computer for a long time without the need to check in every hour of the day. The software will engage in trade based on the parameters that you have already set in the app. This way you can sleep soundly at night, while you trading software makes transactions!
Follow Trading Platforms For Tips And Best Trading Software On The Market
There are many sites that offer trading tips to individuals like you who are interested in trading be it forex trading of Bitcoins trading.