Investing in stocks and trading is the new trend for building wealth. Common white-collar employees, as well as students, are getting more and more interested in this field. Olymp Trade is a desktop and mobile-friendly, international broker application that offers its users the opportunity to get started with trading with a minimal deposit from anywhere in the world. Let us know Does Olymp Trade Accept Bitcoin?
Does Olymp Trade Accept Bitcoin?
Yes, olymp Trade Accepts Bitcoin. Although their risk cryptocurrencies are getting more and more popular due to their constant increase in value. Olymp Trade, being a broker company would have long been overtaken by its competitors if it didn’t accept Bitcoins as deposits and withdrawals.
Getting Started With Bitcoins:- Before jumping straight into trading bitcoins in Olymp trade let’s go through a quick summary of bitcoin’s what, why, and how.
- What Exactly Is Bitcoin:- Bitcoin is one of the most popular cryptocurrencies, currently priced at 115277.11 USD. It’s the earliest peer-to-peer digital currency that doesn’t involve any third parties. The invention of Bitcoin inspired many other similar cryptocurrencies.
- Why “Bitcoin”:- Unlike many dead cryptos Bitcoin’s growth over the years has been remarkable and most investors think due to its limited supply and high demand the in the near few years at least the price will continue to rise and whereas you definitely shouldn’t invest all of your accumulated wealth, it’s a great idea to invest some amount of your earnings in bitcoins.
How To Get Started With Bitcoin? :- It’s not difficult to understand how to buy, sell, or exchange a bitcoin. But it’s quite difficult to wrap one’s head around the technology behind cryptocurrency transactions, especially without having any prior knowledge. To explain it in an oversimplified manner, A database system “Blockchain” stores various data regarding any transaction, encrypts it for security purposes, and validates it. To get started with bitcoins you only need to know how to buy and store cryptocurrencies.
To buy bitcoins with cash, like how most of your daily life transactions work
- Sign up for a reliable cryptocurrency exchange also known as a crypto trading service. Some of them are – Coinbase, Binance.US, Gemini e.t.c.
- After the exchange platform verifies your identity with legal documents such as a driver’s license or social security card, it would ask you to connect your account with a payment option. You can link the account with a credit card, debit card, or bank account.
- You can now easily place an order and purchase bitcoins or other cryptocurrencies. Purchasing an entire bitcoin is expensive and a rare case. Most people buy a small portion of a currency.
Now there are a couple of ways to store your cryptocurrencies after an exchange.
Exchange Wallet
Most exchange platforms offer a wallet to the users where they can store any cryptocurrency. But, the security is minimal and this storage option is not recommended in the long run.
Hot Wallet
Online wallets, also known as hot wallets, are wallets that run on devices connected by the internet. Due to being connected to the internet, it’s exposed to several safety threats and also is more prone to getting hacked.
Cold Wallet
Cold wallets are offline crypto storage devices that can be carried easily and also stored safely in a bank locker. Usually, you can buy them from vendors online. Like – Trezor T, Lazor Nano X.
Selling Bitcoins On Onlymptrade
Once you have set up a free account on Olymp trade you can start depositing and selling bitcoins in case you already own any. You can also invest in crypto and make instantaneous profits without actually owning or buying cryptos by using the CFD feature of Olymp Trade.
Why Olymp Trade To Trade Bitcoins?
Why Olymp trade only? One can trade bitcoins on other crypto exchange platforms too right? Well, here are the advantages of trading cryptos on Olymp trade,
- Olymp Trade’s CFD or “Contract For Difference” mode, allows clients to trade bitcoins and make a profit off the market without purchasing the asset itself.
- Using Olymp Trade for trading lessens the risk of loss in the volatile market of cryptos.
- Olymp Trade also provides tools like “Take Profit” and “Stop-Loss”. This enables users to sleep and go offline at peace without worrying about making losses.
Conclusion
To summarise, You can easily purchase a portion of bitcoin with cash on any crypto exchange platform. Investing in and trading any form of cryptocurrencies is risky due to the market’s volatile nature. However, Olymp Trade reduces the risk rate via its various unique features and also offers free demo training to new users which might help out a beginner.
Frequently Asked Questions
- I don’t have any knowledge of crypto, should I trade crypto on Olymp trade?
Do your research first ,and then get started with a small amount of investment.You can try the free demo training on Olymp trade to get acomusted.
- Is Olymptrade safe?
Olymp Trade has been a reliable and safe broker company since 2014 ,and most users consider it as one of the safest options.
