Thursday, December 15, 2022

Explain bitcoin for beginners

Bitcoin trading for beginners is a lot of mystery! In fact, this ambiguity is a small part of the uncertainty surrounding bitcoin since its launch, and this is not only a bitcoin nature, but generally includes digital currencies that, by their emergence and spread in the global financial community, have revolutionised the nature of financial and monetary transactions.


E-commerce, trading and everything related to money, business and global markets! Perhaps the particular interest of beginners in bitcoin for beginners is due to the good reputation and wide acceptance that bitcoin has become globally enjoyed! Because of what happened in its price before with a huge leap in which it gave investors profits that exceeded their greatest expectations and their sweetest dreams!

Now that everyone is eager to invest in that giant cryptocurrency in the hope that they too will make fabulous gains like the early investors in the currency! The price of bitcoin seems to be on its way to another leap as it has rebounded rapidly in recent weeks, making huge profits for all those who keep some of their savings in that currency! This has prompted many investment beginners to look for books or articles explaining cryptocurrencies, especially Bitcoin, for beginners! Many of our dear readers have even sent us asking for more explanation and attention to topics related to bitcoin and how to trade it! For these, we present this article on bitcoin commentary for beginners as well as bitcoin trading for beginners.

Suffice it to say that the price of Bitcoin today is $11,520 from $3,689 per bitcoin at the beginning of the year! In six months, the price of Bitcoin has risen by $7,831 per Bitcoin and by 212% in six months! This is more than any other investment imaginable at such a record time.

How to get bitcoin for beginners from Saudi Arabia

There are so many different ways in which bitcoin can be obtained, for example:

  • Bitcoin mining: This method was widespread in the past, but it has become exhausting because the cost of mining from electricity, time and modern appliances is exhausting.
  • Buy Bitcoin directly from a company: There are many companies that offer Bitcoin wallets to their clients such as Coinbase, Trezor, Electrum and many more.
  • Buy Bitcoin from someone who owns Bitcoin.
  • Get it as a gift from sites that offer gift cards.

The best and easiest of these is definitely getting Bitcoin today from bitcoin-certified companies! Like Coinbase and Trezor because it saves you a lot of effort and makes it easy to buy and sell through.

How to trade Bitcoin for beginners in Saudi Arabia

There are many platforms that offer the possibility of trading Bitcoin against foreign currencies just like Forex and perhaps the most famous of those global bitcoin trading platforms is coinarch! The way you simply deposit the amount you want to trade in Bitcoin in your bitcoin wallet and then start trading it against one of the currencies of your choice! Note that this method carries a great deal of risk because the price of Bitcoin is absolutely unstable unlike any other real currency! It may fall by a large percentage or rise by a significant percentage in record time during trading! Therefore, extreme caution should be exercised when trading Bitcoin.

Generally speaking, you can first open a demo account to practice bitcoin trading and find out how best to trade it! This is before you actually start the trading process.

Bitcoin trading strategies for beginners in Saudi Arabia

There are a lot of ways in which you can trade bitcoins and cryptocurrencies,

It depends entirely on what you want to earn from your investments and how long you want to give it to trade! In general, there are four main types of Bitcoin trading:

  • Daily Trading: Traders are now trading Bitcoin in one day' trades! To take advantage of short-term changes in the price of Bitcoin.
  • Swing trading: or swing where you can rely on patterns in the movement of indicators for quick profit! before the wave takes the opposite direction.
  • Scalping Trading: You rely on making several trades during the day on simple price movements! Traders in this way make many small, repetitive profits instead of waiting for a big opportunity.
  • Quiet or quiet trading: Wait until the price drops to a certain level and make a purchase! Wait until the price rises to a certain level and sell.