Anybody who day trades cryptocurrencies or stocks knows that there are all kinds of indicators that one can watch in order to make hopefully sound trading decisions. Obviously one of these is simply the price. You might want to buy Bitcoin when it drops to a certain price, but unless you are glued to your computer screen all day long watching the charts, you are going to need an alert.
Bitcoin (BTC) has been making a lot of headlines in recent weeks with its seemingly relentless growth, prompting many to take the cryptocurrency a bit more seriously. Understanding what exactly cryptocurrency is and furthermore, understanding how to trade it, can be a daunting task for somebody new to the concept. There are a number of exchanges where you can purchase Bitcoin and other altcoins (cryptocurrencies other than Bitcoin), many of which are byzantine to say the least.
Over the last few years, Robinhood has been one of the most popular apps for trading stocks, funds and options right from your iPhone. While it is mostly associated with the stock market, it has branched out to include some cryptocurrencies as well. With Bitcoin (BTC) recently reaching all-time highs, cryptocurrencies and blockchain are once again on people's minds and demand is high. If you want to own some Bitcoin and you have a Robinhood account, buying it is simple.
If you are relatively new to trading cryptocurrencies and you are in the U.S., chances are you started trading Bitcoin, Ethereum and Litecoin on Coinbase. While Coinbase is a great place to start because of its simple and intuitive interface, quick funding process and good reputation, it has a very limited currency offering. Currently one can only trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash, though they plan to add more. For this reason, many opt for the bigger exchanges like Bithumb, Kraken, Bitfinex, etc.
Unless you've been living under a rock for the past few months, you've probably heard about Bitcoin's skyrocketing price. The almost daily headlines have focused a lot of attention on the cryptocurrency markets and altcoins (alternative cryptocurrencies), and the masses are now rushing to find the next Bitcoin. While there may or may not be another Bitcoin, there is still plenty of potential in investing in cryptocurrency, as seen in Ripple's (XRP) 1000% jump over the past couple weeks.