Bitcoin Trading in Australia

Bitcoin trading is one of the easiest ways to make money these days. However, you need adequate knowledge about the cryptocurrency world before you can make a consistent profit from trading cryptocurrency. If you are a newbie in need of helpful information about how to make money from trading bitcoin in Australia, you have come to the right source of information. The information provided below will open your eyes to certain things you must always bear in mind when trading bitcoin so that you can make profitable trading decisions each and every time. Before we proceed, bear in mind that the rules guiding successful bitcoin trading in Australia are the same rule that applies in every other part of the world.

Bitcoin Forex Brokers

Broker
Rating
Regulated
Bonus
Min. Deposit
Avg. Returns
1.
legacyfx

ASIC

up to 100%

$100

70% - 90%

2.
Markets.com Australia

FSC

up to 100%

$250

70% - 90%

3.
XM

CySEC

up to 100%

$30

70% - 90%

4.
Vantage FX

CFTC, NFA

up to 100%

$200

70% - 90%

5.
IC markets

ASIC, FSA, CySEC

up to 100%

$10

70% - 90%

6.
AvaTrade

CySEC, FCA, IFSC

up to 100%

$ 150

70% - 90%

7.
EightCap

ASIC

up to 100%

$100

70% - 90%

8.
FP Markets

ASIC, CySEC, St Vincent & Grenadines

up to 100%

$100

70% - 90%

Show all top brokers

Diversification

One of the first rules every bitcoin trader must bear in mind is the importance of diversity. It is never wise to put your eggs in a basket if you want to trade bitcoin successfully. Instead, break your capital into small lots and open one position with each lot at different price levels. This way, one or two losing positions will not wipe off your entire trading balance.

Use only the money you can afford to use

This rule is very important in bitcoin trading. It is never proper to invest any amount that you cannot afford to lose in cryptocurrency. So, avoid trading bitcoin with your life savings or borrowed money. If you lose the trade, it may take you years to recover from the loss. Why should you take this rule seriously?  Cryptocurrency trading is profitable, but there is also a pronounced degree of uncertainty in it.

forex trading aus

 

Technology can help

Certain technological innovations can make cryptocurrency trading a lot more interesting and a lot more profitable than ever before. You should not hesitate to take advantage of such technological opportunities since they can help you to attain maximum profit faster. These technological innovations can help to read the charts better so that you can make more precise trading decisions.

Continue to learn

You must not stop learning about bitcoin trading if you must profit consistently. Just like the forex market, the crypto market is also dynamic and ever-changing. The strategy that works today may not be as profitable as expected in a couple of months from now. You must be ready to dedicate the effort, concentration and time to learning and you would have detected an unexpected turn of events long before it happens so that you can guide against it expertly.

Bitcoin Forex trading

Conclusion

The points given above are just a few of the very important rules of engagement you must bear in mind if you want to make a consistent profit from bitcoin trading. It may be difficult initially to abide by them, but you will get a grip of them with consistent practice and commitment.