What could be better then working from home, making your own hours, and keeping your profit in our favorite currency, Bitcoin! I've been able to drop out of college, quit my shit job, and become my own boss, and this is how. This guide I've created is for people who are interested in learning to become a bitcoin trader, and have limited startup funds or knowledge of bitcoin.
I want to share how i went from a pizza delivery driver, to owning my own Bitcoin trade company, and joining the newest sector of internet entrepreneurs. This article is for those who are beginners, and want to learn how to establish themselves in the cryptocurrency trading industry.
The first step in becoming a trader, is learning the types of exchanges available to use. There are many types of Bitcoin exchanges, but my personal favorite for trading is. Other sites like Coinbase, circle, and stuff are good for obtaining bitcoin on a fast notice, but charge expensive fees and require things like SSN and banking information to register.
We don't want those criminal governments in our panties, now, do we? This guide will mostly focus on how I went from an investment of 1.
Now, depending on your country, you will need to pay taxes on income and capital gains, but this article won't be covering things like that Create bitcoin local trade bitcoin for profit username and account password.
I recommend a good choice in Username, because this is what buyers and sellers will see when they conduct a transaction with you. Would you rather do business with someone named "CityBitcoinPro" or "thenippletwister"?.
You see my point? Make sure you back this up somewhere safe, like an encrypted flash drive or tattoo it on your ass just kidding. I also recommend making a Facebook business page, to increase advertising and communication response. Now that your account is created, its a good idea to set up your 2 factor bitcoin local trade bitcoin for profit on your smartphone, bitcoin local trade bitcoin for profit back up the data somewhere safe.
When activating two-factor authentication it is very important that you write down the backup code and keep it in a safe place, preferably on paper. If you lose access to your two-factor codes you will not be able to log in to your account and it will require a two-factor reset which bitcoin local trade bitcoin for profit two weeks to process. Whenever you need to log into your LBC account, or release a trade, you will need this password. Remember to back up on paper. Now that you've made your account, in the upper right hand corner, you can access your wallet.
This is Localbitcoin hot wallet server based online where you can store, send, and receive your bitcoin. It includes a calculator, and your personal wallet address when receiving. The wallet address does change every now and then, but it will not change your bitcoin, so don't be concerned if you see this.
Now that you understand where your bitcoins are stored, you'l need to familiarize yourself with the types bitcoin local trade bitcoin for profit buying and selling methods Localbitcoins provides. You can purchase bitcoin online through things like wire transfers to banks, Paypal, Venmo, cash by mail This is risky or bitcoin local trade bitcoin for profit deposit.
There is another option to buy bitcoins in cash in an area near you. LBC localbitcoins for short links other traders in your area to you, based on location and price. Buyers and sellers can determine the price they wish to trade buy margin percentages, which they can determine on bitcoin local trade bitcoin for profit own in the "Create bitcoin local trade bitcoin for profit Ad" section. So basically, there are two different types of trades on LocalBitcoins, local trades and online trades.
Online trades occur online entirely through the LBC trading platform without you ever meeting your trading partner. Most of trades on LocalBitcoins are online trades.
Local trades are meant to be carried out face-to-face, and escrow is not automatically enabled. Because of this it is not safe to pay the seller using an online payment method in a local trade.
It is always best to check the reputation score of a trader wishing to buy or sell bitcoin face-to-face, and to meet in a public place if you don't already know the person well. Step 5 Now that you hopefully are set up as a novice bitcoin day trader on LBC, you can begin to make cash or bitcoin by buying and selling at a trade margin of your personal choice. Localbitcoin provides a forum where traders and members can discuss different method and strategies to increase profit, and learn from each other.
Be sure to manage your accounts profile, where you can monitor your feedback, trade completion time, and read what other users have to say. This is Localbitcoins system of regulation. Here is a link to my accounts profile as an example. With any new technology and web service, education is the key, but I am confident that a trader that sets up his account properly and securely can make a healthy amount of income, and maybe save up some bitcoin for a future investment in this field.
All other questions might be cleared up by Localbitcoins guide page, located at; https: There are many types of Bitcoin exchanges, but my personal favorite for trading is; https: Remember to back up on paper Step 3. Here is a link to my accounts profile as an example https: Authors get paid when people like you upvote their post.
Are you supporting mutliple fiat currencies (e. The idea is that you stake the cryptocurrency that you own over a wifi connection. Coinbase is erratically overcharging some users and emptying their. Accordingly, when we have a lot of people with the basics of TA, the market will work well on these basic principles.
I asked for permission from SARS to exceed it I was denied.