How to protect investments in bitcoin trading?

Published: May 16, 2020

The business world is also a privileged playground for Blockchain technology whose applications are constantly growing, such as the services offered by bitcoin which allow computers connected to its ecosystem, to automate business relationships and which, in no longer need to be validated by anyone. 

bitcoinThe only functionality of bitcoin is the exchange of currencies while bitcoin allows you to create all types of applications. At the heart of bitcoin we can indeed execute “smart contracts”, which are pieces of computer code that manage transactions alone and without intermediaries and in a secure manner. Even politics is experiencing this disruption with initiatives

The possible applications of Blockchain technology are dizzying. It could thus generate a kind of “horizontal” economy, completely decentralized. France has already taken up the subject and intends to become a Blockchain nation thanks to the national Blockchain strategy, the fruit of intensive work carried out by the Directorate General of Companies with the entire ecosystem. Blockchain. This concerted action between public and private actors has made it possible to identify 4 main areas of work which were presented on April 15, 2019, during the Paris Blockchain Conference: strengthening excellence and the structuring of French industrial sectors to deploy ambitious projects based on distributed register technologies, being at the forefront of technological challenges,

Like any emerging concept, Blockchain technologies need definition and harmonization to build the confidence of users and investors. Since December 2016, under the aegis of ISO, experts from sixteen countries have been working on setting up voluntary standards to draw the contours of this technology, which today suffers from a pressing need for definition and harmonization. France participates in the work of ISO via AFNOR, the French benchmark organization for voluntary standards, which has created a standardization committee on the subject.

The essential issue is to know what we are talking about for Michelle Abraham who takes part in the discussions: “It seems fundamental to me to know what we are talking about and for a company to know what it buys as a service, if she wants to use this technology. Because some people say they are selling a blockchain, when it is literally not a blockchain, “see what real investors say. Voluntary standardization should allow professionals in the sector to gradually erase the gray areas of this technology, which is still very poorly understood by the uninitiated. If you are thinking of starting bitcoin trading you can use the crypto comeback app

Before you start trading bitcoins on a cryptocurrency exchange, you need to take care of the security of your investments. If access to a standard bank account can be restored using documents, this is not possible with digital money. Losing a wallet password will lead to a complete loss of all funds on it. Protective measures in this case must be carried out extremely strictly.

To enhance the security of your finances in your Bitcoin wallet, you need to take the following steps:

• Create a complex password with numbers, uppercase letters and punctuation marks.

• It is better to write down the password and login on plain paper, and hide it in a safe place.

• Apply two-factor authentication.

On cryptocurrency exchanges undergo a complete verification.

Trading bitcoins will be safe if you follow these recommendations. It is important not only to make a profit on the cryptocurrency exchange, but also to keep it. Therefore, protecting a Bitcoin wallet is an important procedure

Trading cryptocurrencies is very similar to trading in fiat assets Forex. Bitcoin quotes form a “bullish” and “bearish” trends. However, cryptocurrency trading has its own differences. Digital money (including Bitcoin) is not tied to the economy of a particular country. Therefore, for example, the release of data on the unemployment rate in the United States or any other country will not affect cryptocurrency quotes.

The key rules of technical analysis in this case have certain reservations:

Everything is considered in the price. However, the cost of Bitcoin is more influenced by demand and excitement around this cryptocurrency. Therefore, you should not fully rely on this factor.

The market is prone to trends. This rule is equivalent for both Forex assets and cryptocurrencies. Price moves in waves: impulse-correction-impulse.

History repeats itself. Bitcoin is a very dynamic cryptocurrency. Therefore, repetitions in the history of her quotes have not yet been observed.


Did you know you can Write for us?

Check out our Guest Post Guidelines to see what it takes.

Submit an Article