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Bitcoin Trading Basics

Bitcoin can be traded on many different exchanges, and unlike normal currency trading, bitcoin exchanges are always open which means you can trade at anytime. To trade bitcoin on an exchange, as a minimum you will need to open an account and provide identity verification. Make sure the exchange is verified and a trusted operator before you send funds or even open an account. Trusted operators maintain security systems that protect the traders against theft of fiat currencies as well as bitcoin.

The following are well known bitcoin exchanges with a solid reputation:
1. Coinbase Exchange
2. Bitstamp
3. Bitfinex

Live Bitcoin Price

Bitcoin Trading Tips

Be aware of all fees when buying and selling bitcoin as they can add a lot of extra cost to the exchange. For the exchange, generally there is a market fee, but there can also be deposit and withdrawal fees. Also, if you have to convert your fiat currency to another currency first, there can be quite large international transaction fees so make sure you check how much this will add to the exchange. Always use a specialized international transfer company like OzForex or World's First.

Another option is localbitcoins.com which is a person-to-person trading site where users post advertisements to buy and sell bitcoins in a local currency. To trade you simply reply to the ads and arrange a place an time to meet the person to make the trade. There are a large number of payment options and range of prices, so make sure you do your homework first!