Sell Bitcoin safely with Fairbit? You can short crypto, or long crypto. You can go long in crypto, meaning you are betting on crypto going up (for example by buying crypto). Or you can short crypto, meaning you are betting on it going down (for example by short selling crypto). Meanwhile, if you have the skills, you can do both depending on the price action (you can even use short positions as a hedge). With that said, in the US, in many states, there are very few options for shorting crypto. If you are new to crypto, you should consider just going long. If you would go short, you can mimic a 1x short by selling and going to cash!
Online: wallets run on the cloud and are accessible from any computing device in any location. While they are more convenient to access, online wallets store your private keys online and are controlled by a third party which makes them more vulnerable to hacking attacks and theft. Mobile: wallets run on an app on your phone and are useful because they can be used anywhere including retail stores. Mobile wallets are usually much smaller and simpler than desktop wallets because of the limited space available on mobile.
Signing up for a Coinbase account is easy, though you will need to provide some form of identification. That may involve sending a copy of your photo ID and potentially also sending a live image of your face using a webcam. These rules are important to follow as they allow the site(s) to comply with ‘know-your-customer’ regulations. Although Coinbase alone will allow you to buy and sell Bitcoin, it’s also worth signing up to its linked exchange platform, Coinbase Pro, which will give you greater control over your purchases.
Cryptocurrencies, sometimes called virtual currencies, digital money/cash, or chips, are not exactly like US Dollars, Euros, Venezuelan Bolivars or Peruvian Soles. They exist “online” and are not usually backed by a government (there are exceptions). They are backed by the respective user networks that keep them as Bitcoin. Discover more information on buy and sell cryptocurrencies.
Now, I know this may sound obvious but it’s important for you to have a clear purpose for getting into cryptocurrency trade. Whether your purpose is to day trade or to scalp, you need to have a purpose for starting to trade cryptos. Trading digital currencies is a zero-sum game; you need to realize that for every win, there is a corresponding loss:. Someone wins; someone else loses. The cryptocurrency market is controlled by the large ‘whales’, pretty much like the ones that place thousands of Bitcoins in the market order books. And can you guess what these whales do best? They have patience; they wait for innocent traders like you and me to make a single mistake that lands our money to their hands due to avoidable mistakes.
Second out is Binance. It is one of the most important cryptocurrencies exchange platforms very easy to use, it allows you to buy Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and more 500 other cryptocurrencies. Binance Exchange is the largest crypto exchange by trade volume and one of the fastest in the world. To give you an idea, nearly 1 billion (USD) is traded on average, impressive, right? Besides, it’s a massive company with a good reputation offering various security services (2-factor authentication and safe for your cryptos, insurance against any risk). So even in case of a minor security breach (it happened in May 2019), Binance will refund the victims through its secure asset fund. Here you can buy BTC with a bank transfer and like with Coinbase know you are in safe hands! Discover more information at Fair-bit.