How to actually trade bitcoins

The bitcoins market is relatively immature compared to other markets and so there is limited ways to trade them. Currently you can trade the spot market – trading bitcoins directly as you would the forex market.

You need to set up an account with a bitcoin broker to trade bitcoins.

To access the market, you need to setup an account with a bitcoin broker. It's also worthwhile you knowing the settlement and order matching processes for when you do trade bitcoins.

Among tradimo's partners, bitcoins can be traded at Markets.com and eToro.


Learn more about bitcoin brokers

Open your account through tradimo and get special offers:


How to place an order with bitcoin

Placing an order on a platform is quite simple, allowing the user to specify a limit or get filled via the market.

You are able to specify a dollar amount (depending on your base currency) and the number of bitcoins you would like to purchase or sell.

Markets.com offers the MetaTrader 4 (MT4) software to trade bitcoins. tradimo offers great MT4 tutorials. eToro offers its own trading software.

How order matching works with bitcoin

At Markets.com and eToro, you can make a financial bet about bitcoins – you can go long (buy) or short (short) – and benefit from rising or falling bitcoin prices.

Summary

So far you have learned that...

  • ... to access the bitcoins market, you need to set up an account with a bitcoin broker.
  • ... placing a trade is straight forward with a bitcoins broker. You can specify the amount of bitcoins you would like to purchase and the price that you wish to get filled at.
  • ... bitcoins can be subject to wide spreads and reduced liquidity.
Free for you

Get our TOP TIPS FOR INDEPENDENT THINKERS

Get our top lessons for serious new traders as well as broker and software promotions regularly to your email address.

Register Now - It's free!

By clicking on the "Get instant access" button, you agree that you have read, understood, and accepted the Terms & Conditions.
Or
Tradimo trading chalenge