There are many cryptocurrency trading platforms in operation today. As a trader, you may be on the fence on what trading platform to use and in doubt about the legitimacy of the hundreds of trading platforms out there. One of the most legitimate trading platforms in the cryptocurrency world is the Immediate Bitcoin Platform, but as a new user, you may wonder how exactly this platform works? This article will give you a step-by-step guide on how the platform works.
Step 1: Account Registration
As in many other trading platforms, account registration is the first step; you have to fill in your details such as username, email address, password, and a description of how you want to be identified. You need to make sure you are placing a username that is something that will not get confusing for other traders, as this can lead to people taking advantage of your account when trying to deposit or withdraw funds. Further personal details such as age and phone number must be filled in to make it easier to identify your account.
Step 2: Account Verification
After registering your account, you will be prompted to verify your account by completing a small form to make sure that you are the person that is wanting to trade on the platform. This is an effortless but important step as it will not let anyone access your account without having completed the verification.
Step 3: Making Your First Deposit
Once you have registered and verified your account, the next step is making your initial deposit. Here one of the qualified brokers from the application will contact and guide you on how to make your first deposit. It is important to note that you need to make your first deposit in order to access all the exclusive features of the platform. The amount deposited will be used by trading bots in purchasing your cryptocurrency and trading. The minimum deposit allowed on the platform is 250 Euros or equivalent in your currency.
Step 4: Setting Parameters for the Trading Bot
The trading bots on the platform are very efficient in following your trading parameters and providing the best prices they can get while maximizing your profits. The first step is to set your preferred market and then set high and low limits on whichever crypto you want to trade with. The application will then automatically place an order for you as soon as there is a price that matches the limit you have set at. The bots will allow for immediate profit review, and you can also choose to take control of the trade at any time.
Now you are all set on the platform, and you can begin enjoying your trade. The more you use the platform, the more you will get used to it and become better at trading as time passes. There may be other platforms that may claim to offer better trading services. Still, even as such, you should note that the Immediate Bitcoin Platform doesn’t charge any registration fees, and the amount charged per transaction is close to 0.1% of the total amount. While it is recommended to do your research on the trading platform, Immediate Bitcoin Platform offers some of the best transaction fees.
Tips to Trade Better on the Immediate Bitcoin Platform
Practice Crypto Trading on a Demo Account
A demo account can help you get used to crypto trading, and many platforms offer demo accounts to hone your skills. Take full advantage of this.
Trade with Stop Loss Set
A stop loss is an order placed on your trades that will automatically be triggered when the cryptocurrency reaches a specified price in the trading pair. This can help you monitor your trades better and reduce the chances of losing your deposited funds.
Start with Small Trades
While the platform is meant to be used for beginners, starting with small trades can help you get familiarized with the trading platforms. Also, as a beginner, you will find it easy to make small stakes so as not to put too many funds on the line.
Bottom Line
The cryptocurrency market has been growing exponentially as various trading platforms have tried their take on cryptocurrencies. Some of these platforms have successfully maintained their positions, while others have failed and disappeared from the market. By registering with a legit trading platform, you can begin your trading journey, and who knows? You may be the next crypto millionaire!