Bitcoin Trading 2023 How To Trade Bitcoin
Bitcoin trading is essentially an attempt to generate a profit by buying and selling the world’s largest cryptocurrency. Trading Bitcoin can take various forms, but the most common method is to simply buy, hold and sell when the price increases.
This guide explains how to trade Bitcoin at Zeply. You will learn the difference between short-term trading and longer-term swing trading. It will explain the various methods that Bitcoin trading experts use to determine price movements, and explain why Zeply is the best option for anyone that wants to trade Bitcoin in a quick, safe and convenient fashion.
What is Bitcoin Trading? Getting Started With Zeply
Bitcoin trading differs from investing as it focuses on trying to generate a profit over a shorter time frame. Many investors buy Bitcoin and hold onto it for dear life, a concept known as HODLing. They ride out the peaks and troughs of this volatile asset, as they are confident that its long-term trajectory will go upwards.
The traders that use Zeply’s high-quality Bitcoin trading platform seek to capitalize upon Bitcoin’s volatility by generating a profit in the short-term or the medium-term. Some cryptocurrency trading takes place within hours or even minutes, but most people choose to buy Bitcoin and hold it for weeks or months as they wait for the price to increase to a point at which they are happy to sell and take a profit.
Zeply also welcomes many Bitcoin investors. This is a longer-term approach to buying Bitcoin. Many investors are evangelical about the world’s largest cryptocurrency. They believe in its ideology, the technology underpinning it and the strength of the community that has built up around it. They use Zeply to buy Bitcoin quickly, with zero fees, and then take advantage of our robust security features to store their Bitcoin indefinitely.
Some traders are also true believers in Bitcoin’s potential to revolutionise finance, store value and compete with gold. Yet others simply want to make money. They will buy Bitcoin and sell it when they can hopefully secure a profit. Regardless of your thoughts on Bitcoin’s future potential, you can use Zeply to trade Bitcoin in a safe, simple and convenient fashion.
On the other hand, if you are completely new to the world of Bitcoin, you can start by reading or guide on cryptocurrency trading for beginners.
What are the Different Forms of Bitcoin Trading?
Bitcoin trading can take several different forms, including scalping, day trading, range trading, swing trading and position trading. These terms generally relate to the length of time that each Bitcoin trade will take. Scalping focuses on extremely quick trades. The goal is to make a series of short-term profits in a single day, and it requires constant focus.
Day Trading
Day trading also requires intense focus. It generally involves buying and selling Bitcoin over the course of a specific day, but in reality, the market for Bitcoin never closes. It is not like a stock exchange, as you can buy Bitcoin at any time of day or night. Some short-term Bitcoin trading can therefore be referred to as intraday trading, as you can hold a position overnight and close it in the early hours of the morning.
Day trading and scalping are specialist forms of Bitcoin trading. To be successful, you really need to sit in front of a computer scrutinizing price charts all day. They are also risky approaches.
Swing Trading
Most people therefore choose to follow a longer-term approach, which can be referred to as swing trading or position trading. Zeply is the perfect site for this sort of Bitcoin trading, which can take place over a period of days, weeks, months or even years. The idea is simply to buy Bitcoin, hold onto it while the price hopefully appreciates, and then sell for a profit further down the line.
Zeply offers support and excellent customer service every step of the way. You can buy Bitcoin quickly, with no commission, and then store it in your Zeply wallet before exchanging it for GBP or another fiat currency when you are ready to exit your trade. We have been making life easy for Bitcoin traders for several years, and we pride ourselves on our high levels of service.
There are no guarantees of a profit when you trade Bitcoin, but the goal is to buy Bitcoin at the right time in a price swing and sell when you hit a particular target, or meet other conditions that inspire you to exit your Bitcoin trade. You can go short on Bitcoin, which means you are betting on the price going down, but it is more common to buy it when the price dips and then try to sell for a higher price in future.
Work Out What’s Best For You
Scalping and day trading require relentless focus throughout the day. If you cannot afford to spend all day staring at a computer screen, swing trading or position trading is likely to be your preferred option. You can benefit from our user-friendly dashboard and make your commission-free trades quickly and with minimal fuss.
You can simply try to work out the current status of Bitcoin – whether conditions are bullish or bearish, the support and resistance levels, and so on – and attempt to find the bottom of the wave and then ride it to the top. Our news alerts help you stay on top of developments in the sector as you plan when to buy Bitcoin and, crucially, when to sell it.
How to Trade Bitcoin - Using Zeply to Buy Bitcoin
Certain sites allow you to go long or short on Bitcoin over a certain period of time. You can open limit orders and stop-loss orders. There are sites that offer CFDs (contracts for difference), which allow you to essentially bet on whether the price will go up or down. These strategies are risky, and crypto CFDs have actually been outlawed in some countries.
Most people therefore simply buy Bitcoin, hold it in a safe wallet and then sell it on at a later date. You can follow this Bitcoin trading strategy with ease at Zeply. First you will need to set up an account.
- Click on the “Sign Up” button at the top of the homepage and provide us with your name and email address. When you have chosen a password, we will send you an email, and you can click on that link to verify your address. Follow the same process with your phone number, and then let us know some more personal details and your preferred currency.
- We then conduct a KYC (know your customer) process. It involves submitting a copy of your identity documents, such as a passport, driving license, identity card or permanent residency documents together with a selfie. The process is quick and simple. It is standard practice, designed to prevent money laundering, and we can walk you through the necessary steps.
- When this process has been wrapped up, click “BUY” on your account dashboard. You will see the live exchange rate between Bitcoin and your chosen fiat currency, such as dollars, euros or pounds. You can type in the amount you wish to spend, and you will automatically learn the amount you will receive in BTC. You can buy Bitcoin instantly at Zeply, and there are no fees.
- Click “Buy BTC”, enter your payment details and then click “Pay Now”. Congratulations – you are now the proud owner of Bitcoin, and your BTC will appear in your account wallet.
- We use two-factor authentication to protect your account and encrypted KYC to keep your personal details secure at all times. You can also benefit from 24/7 support. You can simply leave your Bitcoin in your account wallet until you are ready to sell.
- When that day comes, you can click “EXCHANGE” on the dashboard and transfer from your BTC wallet to a fiat currency wallet such as EUR, USD or GBP. If you want to exchange the full amount, click “MAX”, or choose the amount you would like to turn back into fiat currency. We will tell you the amount of money you will receive, and you can click “Exchange to wrap up the sale.
- You might decide to leave the funds in your account, ready for your next Bitcoin trade. If you want to withdraw, simply click “WITHDRAW” on the dashboard. Enter in your bank details and we will transfer the funds to your account in a safe and secure fashion.
How to Predict Bitcoin Price Movements
The key to successful BTC trading is anticipating the future direction of Bitcoin’s price chart. It can be extremely lucrative if you nail it, but there are no guarantees, and you will stand the best possible chance of success if you conduct thorough research before Bitcoin trading.
The price of Bitcoin is always determined by supply and demand. If demand is high, the price will go up. When it goes up for a prolonged period of time, this is referred to as a bull run or a bull cycle. If demand falls, the price will decrease.
When some people see the price going down, they panic and sell, and this can lead to a prolonged price decline known as a bear market. People that trade Bitcoin try to work out if the price will increase and for how long, and plan when to sell. Our timely features, news updates and guides will help you understand what is going on in the wonderful world of Bitcoin. You should then be well informed as you decide when to buy Bitcoin at Zeply and when to sell it.
There are two key methods used by people that have been trading Bitcoin for many years: fundamental analysis and technical analysis. Fundamental analysis requires you to consider the big picture for Bitcoin.
All sorts of macroeconomic factors can affect the Bitcoin price that you will see on your Zeply dashboard. For example, it has often increased during times of quantitative easing, as people see it as a hedge against rampant inflation, like digital gold. It often spikes when a celebrity or billionaire endorses it.
The price really started to appreciate significantly when major companies like MicroStrategy, Square and Tesla bought large volumes in 2020 and 2021. News of institutional investors backing Bitcoin generally causes the price to rise, as people are encouraged by mainstream, institutional adoption.
Bitcoin has also historically increased in value in the wake of a halving. This is when the reward for mining Bitcoin is slashed in half, and it occurs roughly every four years. These are some of the things you can factor into your broad fundamental analysis. You are trying to work out how strong the technology is, how high the future demand will be and whether any rival coins can steal its thunder. Stay on top of these trends, and then you can log into your Zeply account to quickly buy Bitcoin or sell it before the price moves.
Bitcoin trading is popular because Bitcoin is renowned for its volatility, so you need to understand what causes that volatility and how to benefit from it. Alongside fundamental analysis, some people trading Bitcoin use technical analysis to predict how the price of Bitcoin will develop.
This is a statistics-driven analytical method that focuses on trading volumes and often leans heavily on historical price movements. You can study the path Bitcoin has followed in the past and use it to determine how it might progress in the days, weeks and months ahead.
This is especially popular among Bitcoin trading veterans, who aim to detect similar ebbs and flows in the value of BTC developing on an ongoing basis.
Technical analysis is all about uncovering patterns and seizing upon them. Some Bitcoin trading veterans focus heavily on technical analysis and ignore the fundamentals, whereas others place most of their emphasis on the fundamentals and ignore the technical patterns. In reality, a mix of the two is perhaps a healthy approach.
Tips for Trading & Buying Bitcoin With Us
Trading Bitcoin at Zeply can be exciting and rewarding. Yet Bitcoin is prone to the sort of price swings that are rarely seen in other asset classes, so it requires you to stay calm and avoid the impulse to panic. This level of volatility is what makes Bitcoin trading so appealing and potentially lucrative.
If you are wondering how to trade Bitcoin effectively, these are some general tips to bear in mind:
Buy the dips
Many people react with excitement when the price of Bitcoin soars, and they buy it to curb the fear of missing out. If a price correction occurs and Bitcoin depreciates, they often panic and sell, which sees them crystallize a loss. Successful traders do the opposite. The buy when Bitcoin dips and sell when it soars. Zeply is the perfect choice for Bitcoin trading, as it is extremely quick and easy to use, so you can seize upon price movements.
Take profits
You can only make a success of Bitcoin trading if you sell at some point. Many people refuse to sell when the price is climbing, as they fear it will double after they sell. Yet it is possible to hold on too long, and you fail to lock in profits before bearish conditions set in. You can use Zeply to ladder your sales, exchanging small amounts of Bitcoin for GBP or another fiat currency on an ongoing basis when the price looks appealing.
Set a clear action plan
Successful Bitcoin trading at Zeply involves buying at a certain price and then having a target price at which you will sell. Alternatively, you might not know exactly what price you will sell at, but you will have an idea of what sort of conditions will inspire you to sell. This is crucial in swing trading.
Budget carefully
Bitcoin trading can be exhilarating, but you must trade responsibly and only put in an amount you can afford. Bitcoin has broadly followed an upward trajectory over the years, but the price does fluctuate.
Avoid scams
Bitcoin is a prized asset, so hackers and scammers regularly target people trading Bitcoin. That is why it is so important to avoid sites that have a bad reputation, and conduct your trading at Zeply. We give you complete freedom to manage your assets anytime, anywhere. You can use Zeply to buy and send Bitcoin instantly and safely, which is certainly not the case elsewhere.
Do your research
The most effective Bitcoin trading is built on a thorough understanding of the blockchain technology underpinning Bitcoin, the macroeconomic environment it is competing in, the role of different altcoins, and a technical analysis of where it might be heading. Read our high-quality news about Bitcoin and arm yourself with as much information as possible. Then think critically about all the information you have accumulated and make a rational judgement as to where you think the price of Bitcoin is headed.
Buy Bitcoin & Trade With Zeply
Bitcoin trading can be a fascinating pursuit. Zeply makes Bitcoin trading easy, because you can follow each step of the journey at our site. However, you will stand the best possible chance of success by putting in the necessary levels of time, energy, focus and capital. You will refine your strategy over time, and your Bitcoin trading can improve if you learn from previous trades. Now you know how to trade Bitcoin, head over to our homepage and make a start today.
Finally, if you are in the UK, don’t skip our guide on Bitcoin trading UK.
