The cryptocurrency industry is expanding and exploding wider than ever. It grew from NZD 1,000 per BTC to NZD15, 000 per BTC in 2017. This explosion caused the market to grow even larger. The beauty of it is that you do not need to have your own cryptocurrency wallet as a beginner if you want to get involved in bitcoin trading.
Bitcoin trading providers
This business can be profitable if you have access to the right kind of information. You can make money via several methods, like margin trading and arbitrage trading. It is also very easy to learn and understand even by beginners. The volatility in cryptocurrency has further increased the popularity of cryptocurrency trading, thereby bringing in new investors and users.
Why trade bitcoin?
There are several factors that set bitcoin trading apart from any other kind of online trading business. These factors make cryptocurrency trading one of the best in the world and are highlighted below:
- It is a global business: You can get involved in cryptocurrency trading in virtually any part of the world, including New Zealand. There is no geographic divide at all. All you need is a computer connected to the internet, funds in your trading account and the right kind of information
- It can be traded 24/7: Forex trading only takes place 5 days in a week, but cryptocurrency trading occurs 7 days in a week. Consequently, you can make money from bitcoin trading every day of the week, including weekends.
- It is highly volatile: The price movement in cryptocurrency trading is frequent and rapid. You can spot several easy trading opportunities per day with each of them capable of increasing your bankroll or deposit by up to 5% or even more.
Finding the right exchange
Before you can trade cryptocurrency in New Zealand, you need to register with a good exchange. There are so many of them out there today, but it is unfortunate that not all of them can be trusted. Check below for hints on how to choose the right New Zealand exchange for a profitable bitcoin trading.
- Regulation & Trust: Find out if the exchange is trustworthy before you pitch your tent with them. Steer clear if there are indications that they can run away with your funds.
- Location: Is the exchange located in New Zealand where the local currency can be accepted? If it is not located in New Zealand, does it allow deposit from New Zealand or with the New Zealand dollars?
- Fees: How much does the exchange charge you per trade?
- Liquidity: Does the exchange has high liquidity and very good market depth? You will need these features if you are into bitcoin trading as a large trader.
Before you pitch your tent with any of the bitcoin trading exchanges in New Zealand, take some time to read up reviews about that exchange; this will give you an idea of the quality of service provided by the exchange.