Bitcoins [2]: Trading Bitcoins in Practice

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Mitu9900
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Joined: Thu Dec 26, 2024 9:17 am

Bitcoins [2]: Trading Bitcoins in Practice

Post by Mitu9900 »

This article is not intended to advertise a specific platform or financial product! It simply presents some possible platforms and financial products for illustration purposes. Everyone has to make the decision for themselves about a platform or an investment of any kind!

First, you have to consider whether you want to trade directly with Bitcoins or speculate on the future exchange rate of the Bitcoin currency with real money such as US dollars.

Have you read part 1?

Bitcoins [1]: How does belgium telegram screening the cryptocurrency work?
About the technical and practical background of cryptocurrencies: Generate and trade Bitcoins.

Direct trading with Bitcoins
To trade in Bitcoins, you need a Bitcoin address with a private key, which is generated and managed by open source wallet software [1] . The wallet is often compared to a digital purse, but this can be misleading, because this wallet does not contain any real money, only the access data to the Bitcoin account. A comparison with an EC card is therefore more appropriate. There are wallets for PCs, laptops and mobile devices, as well as web wallets that store their data online. This means that you may be entrusting your account access data to a mobile device or web wallet platform, similar to online banking.
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