ChainWizard Ai is a platform for passionate traders to try and pick out the best Bitcoin trading opportunities based on their set trading preferences and style. The platform allows you to partner with an account manager, set your trading parameters, and hopefully learn the most effective trading strategies according to your style of trading.
On the platform, you find plenty of training material that’s designed for new and experienced traders to learn the basic and advanced trading concepts. The educational resources take you from the basic understanding of Bitcoin to advanced strategies you can use in the worst of market conditions. The resourceful tutorials may also help you develop a suitable trading strategy based on your financial goals.
New traders struggling with how they can start a trading career can conveniently start their trading journey through ChainWizard Ai. They just have to complete a quick signup process, provide their personal and contact details, pick a suitable trading account, and begin trading. The initial deposit is reasonable enough for traders from any background to start conveniently.
The team behind the platform has paid extra attention to security protocols and measures in order to protect the information and funds deposited. You can deposit funds using well-known methods, such as credit card, debit card, bank transfer, etc. The information you share gets encrypted instantly and is kept on secured servers. The 2FA authorization feature ensures you always go through 2 security filters before you reach your trading account, hopefully maximizing security against hacks.
After you have opened a trading account, you will also have numerous trading tools in your access. You can get the latest news and reviews from the market. You can access calculators to convert currencies. You will also have advanced charts to give you instantaneous information from the market. Trading signals are also provided to try and make the price forecasting process more reliable for you.
Trading on ChainWizard Ai takes no time at all. The creators have especially worked on making the trading process efficient, taking away the clutter and reducing it to a few clicks. If you wish, you can sign into the platform, locate your favorite assets, perform your chosen analytical method, and trade within seconds.
ChainWizard Ai does not take control away from the trader. It equips you with the knowledge to trade on Bitcoin and lets you decide when and what you trade. The account manager points out the opportunities that align the best with your set parameters, but it is always your approval that’s eventually required to execute the trade.
It’s quite common for new traders to be nervous at the start. They usually don’t know where to start but the easy signup process will ensure you are up and ready to trade within minutes. Here is how you can sign up with ChainWizard Ai if you wish to do so.
At this point, you have registered with the platform but haven’t activated your trading account. To do that, you will have to make the initial deposit using one of your chosen deposit methods. You can look at the available deposit methods when you click on “deposit”. You now have an active trading account.
The third step is the most important for a trader who is trading for the first time. You might think you are ready to trade, but it’s best that you learn the basic concepts first. You will have access to the educational materials on the platform. Usually, the training material is in the form of eBooks and videos so you can learn at your own pace. Once you have learned enough, you can practice trading with the demo account, which doesn’t require you to stake real money to trade. Also, you can explain your trading preferences to the account manager at this point so he / she can indicate any opportunities that meet your set parameters.
Once the first three steps are done, you are ready to trade but not in the position to take big risks. Take it slow in the beginning and act more like an observer than an active trader at the initial stage of your trading career. Pick the Bitcoin trading pairs that make the most sense to you and include them in your favorites so you can always keep a close eye on them. The start of your trading journey is a good time to define your values as a trader and make them a part of your trading style.
So, as you know at this point, you will have to define your trading preferences and then convey them clearly to the account manager.
The account manager will point out to you the trading opportunities that are most suitable based on those parameters. However, some traders might not really know what it means to define their trading parameters. Here is how you can do that.
You have to be very clear with how much risk you can take, what kinds of losses you are able to tolerate, and how frequently you can take that risk. It’s the most important part of your trading strategy as it defines the boundaries within which you will stay while trading. In some cases, people who have more time can take more risks.
In other words, you probably have a source of income to keep supplementing your savings. On the other hand, older people usually want to preserve their wealth and thus low risk is what they prefer. However, these aren’t hard and fast rules. It is imperative to realize that you aren’t wrong or right no matter which strategy you pick. What works for others might not work for you and what works for you might not work for others.
You will need to determine your trading style because this will explain to the account manager how frequently they have to notify you about arising opportunities. Let’s say you want to be a scalper. In that case, you will be trading many times within an hour. However, such a strategy might not be suitable for a new trader. It requires a lot of market knowledge and frequently taking risks. Not to mention, you have to be quite consistent to hopefully gain anything out of this strategy.
Another way to trade is day trading wherein you trade only a few times in a day. Your trades may be hours apart when you are a day trader. If you don’t like the idea of trading so frequently, you can be a swing or position trader. As a position trader, you might benefit from the long-term movement of the market and continue to hold onto the asset until you think you have hopefully gained enough on your holdings.
When trading Bitcoin, you won’t be trading the cryptocurrency alone. Of course, trading means you give something to get something.In this case, it’s going to be another currency that you will be trading against Bitcoin. ChainWizard Ai allows you to place trades on Bitcoin for fiat currencies and cryptocurrencies.
Based on the trading style and risk tolerance levels you have defined it may be easy for you to pick your favorite Bitcoin trading pairs. The first thing you want to consider is the volatility of each pair. If you don’t like taking big risks, you would want to pick a pair that’s relatively less volatile. You also want to specify your favorites because you can then create a separate list of the ones that you are most likely to trade.
It is wise to know about the asset that you desire to invest in. If you want to be a Bitcoin trader, there are 3 things that you must know about it. They will help you create a clear trading strategy and also assist you with fundamental analysis of your Bitcoin trades.
If you have been following cryptocurrencies online, you must know many digital currencies have been under fire for misrepresenting their status. For example, Ripple didn’t consider itself a security but the SEC later confirmed that it was. Many other cryptocurrency teams have faced lawsuits because they couldn’t agree with the fact that their digital assets were securities.
Bitcoin is unique in that it doesn’t have the background that most other cryptocurrencies have. For example, most other cryptocurrencies, even Ethereum, came into being after public funding. They accepted investments and the purpose was to fund the project. Bitcoin didn’t go through this process and is thus the cryptocurrency with the clearest green signal from SEC.
One of the things you consider when fundamentally analyzing an asset is its circulation in the market. Keep in mind that every coin has a cap on how many units of it can be created. It has to be a clear number. You then look at the number of coins that are already circulating in the market. This percentage shows you the total supply of the asset in the market. Nearly 91% of Bitcoins are already in circulation today.
You can’t say the same for most other digital currencies. Take the example of Ethereum whose maximum supply has not been determined to date. So, while other digital coins might become less rare with time, Bitcoin might continue to be as rare as it is today.
Bitcoin is interesting and weird at the same time. It’s already quite rare due to a maximum supply cap of 21 million. However, it’s even rarer than that when you take into account the fact that nearly 20% of the coins are gone and no one will ever know where. You are talking about roughly 3.7 million Bitcoin and interestingly, a little over one million of those coins are with Satoshi Nakamoto who created Bitcoin. A big part has also been lost due to people who either lost their private keys or died without sharing it with others.
You can be a Bitcoin trader like many others around the world by signing up with ChainWizard Ai.
Satoshi is the creator of Bitcoin but no one knows who they are. Some believe that they might not be a single person at all. Perhaps, they are a corporation or a group of multiple companies.
Actually, Satoshi has more than 1 million Bitcoin but they have never been accessed to date. Most people believe Satoshi will never use them.
No, Bitcoin is completely different from Ripple as it did not require investor coin offering to fund the project. The SEC explicitly states that Bitcoin is not a security.
Just about anyone who wants to mine Bitcoin can do it. However, doing so will require you to invest in heavy computer rigs. You could use an ordinary computer for mining too but since other miners are using ASICs, you might not stand a chance of mining Bitcoin successfully because it works on the proof of work model.