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5 Ways to Trade Bitcoin for Beginners for Maximum Income

5 Ways to Trade Bitcoin for Beginners for Maximum Income - For those of you who want to invest in the digital world, Bitcoin investment which is on th

5 Ways to Trade Bitcoin for Beginners for Maximum Income - For those of you who want to invest in the digital world, Bitcoin investment which is on the rise might be an option. In just a short time, the Bitcoin trend has attracted many people both abroad and in Indonesia.

Unfortunately, there are still many beginners who are confused about starting Bitcoin trading. This is a safe way to get money from Bitcoin, even if you are still new to the world of trading, as quoted from The Times.

1. Understand the Risk

Before deciding to invest in either Bitcoin or any other cryptocurrency, it is important to study and understand the risks of each. For beginners, Bitcoin assets are considered more suitable because they have a large market capitalization and are more established.

Although it is fairly volatile, the regulatory framework is clearer than other digital money assets. This certainly helps minimize future risks. Moreover, Bitcoin is the most liquid crypto asset, so it is easy to trade. Even so, you still have to set limits, lest the investment value is greater than your ability.

2. Don't buy when the price is down

Many think that for successful Bitcoin trading you must apply the principle of buy low and sell high. This is so that you can profit, aka you can reap a lot of money. It's not always like that though.

There are times when the price of Bitcoin drops due to certain reasons related to market conditions. For money, you can start trading Bitcoin with a small nominal. Then increase the nominal amount of money traded gradually when the profit has increased.

3. See long term prospects

For those of you who are still beginners, you should not trade Bitcoin daily. Given the volatile nature of Bitcoin, its price can go up and down drastically in a few days.

Of course, seeing this condition, novice traders are often trapped in cases of 'panic buying' and 'panic selling'. Especially if the price of Bitcoin drops suddenly. For that, for starters, you can try investing in Bitcoin for the long term.

4. Activate the auto buy feature

For beginners, it may be difficult to read market movements. Including those of you who may not know which direction Bitcoin will move and are confused about determining the entry level. However, now there is no need to worry anymore. Because some exchange platforms provide automatic repeat buy features.

Call it Luno Indonesia, which now makes it easier for you to set up bitcoin purchases automatically just by activating the Repeat Buy feature. With this feature you can get more amount when the value of Bitcoin decreases so you can earn more profit.

5. Risk Management with Crypto Asset Diversification

When it comes to investing, you must have heard the term don't put your eggs in the same basket. This also applies to cryptocurrency assets. Instead of putting all your money in one asset, you should diversify your portfolio.

Portfolio diversification means that you put your money into different crypto assets, not just Bitcoin. Not only has the potential to bring maximum profit, this strategy is considered to be able to reduce risk so that you have reserves if there is one asset whose performance drops.

In addition to the methods above, it is also important that you choose a secure cryptocurrency trading platform. Like Luno Indonesia, a buy, sell, store, and trading platform that provides various digital money assets, ranging from Bitcoin, Ethereum, Ripple, to others.

Bitcoin trading at Luno Indonesia is guaranteed safe because it has two-factor authentication to provide extra protection to your account. In addition, passwords are also stored in hashes, so no one but yourself has access to your passwords.

Luno Indonesia also has a Wallet feature so that crypto buying and selling transactions can be done quickly and instantly. Investing in Bitcoin at Luno Indonesia also doesn't need big capital because Bitcoin can be purchased starting from IDR 25 thousand. There are also various payment options to make it easier for you to make deposits and withdrawals quickly.