So how do you buy Bitcoin and other cryptocurrency on an exchange? Many new traders of cryptocurrency buy their first currencies at a broker. Mostly because it’s easier, due to better interfaces, user friendly websites, and the use of common tenders. And it’s also quite common to leave cryptocurrencies on these broker accounts so users don’t have to maintain a wallet, and it allows them to sell it quickly. Though this is true, there are many downsides to buying cryptocurrency this way. For starters: it costs more, the intended currency might not be in stock, and you don’t have full control over your capital. If you want to mitigate these downsides, you can buy on an exchange.
Technical analysis is a method used by traders to determine whether they should trade and how to go about it. Through the use of technical analysis (TA), traders try to find an ‘entry’ (the right moment to enter a trade) and extrapolate its course of development. TA isn’t something that can be taught overnight since it’s mostly a matter of learning by doing, and most likely making some mistakes. There are no guarantees when using TA and it should only be used as a tool to gain more insight when trading. Technical analysis is often used for short term trading while FA (fundamental analysis) is mostly used for long term trades.
Technical analysis is actually a technique based on the fundamentals of mass psychology; many patterns are linked to human behavior. In this beginner’s guide we’ll tell you about market cycles, which indicators are used, and the types of patterns that can be seen in charts. Since substantial and valid TA is too big of a subject to handle briefly, this article should be viewed as an introduction to technical analysis. It should not function as trading advice.
In this guide we’ll explain how to install and use the bitcoin wallet called Electrum. It is a frequently used wallet, much like the Jaxx wallet which we explain in our other wallet guide. This Electrum wallet guide is based on Electrum 3.1.0, and this specific version is only applicable to bitcoin, though there are many versions of Electrum made for many other coins.
The safest way of storing Bitcoin (for the long term) is most likely by making a paper wallet. A paper wallet means you create an address on a blockchain and print the private key. This private key can be used at any time to import into a wallet, and for the sake of safekeeping, this key will be written down/printed to then be stored on a safe location. For this example, we will create a paper wallet for a Bitcoin address, but the same principle applies to every blockchain.
How to install and secure a bitcoin wallet? There are different wallets for different cyptocurrency, some of which are user friendly, but a lot them (sadly enough) are not. In this guide we’ll show how to installe the Jaxx wallet and how to use it. The Jaxx wallet is a commonly used Bitcoin- and Ethereum-wallet because it is user friendly and supports many cryptocurrencies. All your coins in one place!