Many have searched pages on the internet including Nairaland on how to learn cryptocurrency trading in Nigeria.
But the truth is, very few people have been pointed in the right direction.
This means that even if you’re enthusiastic to start day or swing trading cryptocurrency, your enthusiasm can be waned by not finding a good platform to work with.
Now, that’ll be a thing of the past since we’ve handpicked a platform that will teach you everything you need to know about Bitcoin and cryptocurrencies as a whole.
Over and above that, this guide covers other elements of the crypto ecosystem such as how does cryptocurrency trading work? the best cryptocurrency trading sites, and the best Bitcoin wallet in Nigeria.
How Do I Learn Cryptocurrency Trading?
The best way to learn cryptocurrency trading is to join a fully registered cryptocurrency trading platform in Nigeria.
A good one we’ll like to recommend is BiTA – Bitcoin Traders’ App.
BiTA was launched in January 2020 and this company has trained over 200 students in Africa, at the time of writing this post.
BiTA offers online and offline training in cryptocurrency trading to meet your quest of acquiring more knowledge on trading.
You’ll be taught how to spot good buying and selling opportunities in the crypto market to ensure you make a profit and minimize losses.
BiTA’s training covers technical analysis and fundamental analysis of the market.
In terms of technical analysis, you’ll learn how to read candlestick patterns, chart patterns, trading indicators, and every other complex term you may have found difficult to understand.
It all boils down to this:
If you’ve made up your mind to make good money this year from cryptocurrency trading, you need to work with a platform that has set up the right tools to aid your learning.
It’ll make your learning process easier, faster, and more rewarding.
We also love the fact that this company offers cryptocurrency trading for beginners and professionals; hence, if you’ve been learning how to trade on your own, and want to take it further, give this platform a try.
So, are you ready to take advantage of the opportunity? Click here to register for BiTA’s cryptocurrency training.
“I’m too busy and won’t have time to learn everything but still want to make money.”
If that’s the case, then you can opt for BiTA’s Coin Signal.
With the Coin signal, you’re sent notifications of coins to buy and the exact price to sell the coin before it reverses its trend.
Here are screenshots of some profitable trades made by BiTA students:
Now let’s quickly answer some top questions pertaining to cryptocurrencies.
We’ll keep things short and simple!
How Does Cryptocurrency Trading Work?
Cryptocurrency trading involves the buy and sale of digital currencies.
You cannot see these currencies with your naked eyes, however, they exist and can be exchanged just like you would exchange the Dollar for Euros, or Naira for Dollars.
The beauty of crypto trading is that you can exchange crypto to crypto, crypto to fiat, or fiat to crypto.
Crypto to crypto trade can involve coins like Bitcoin and Ethereum.
Crypto to fiat trade can involve Bitcoin (or any other crypto) and Dollar (or any other fiat).
These aside, the idea behind trading is to buy a coin when its price is low and sell off the coin when its price is high.
The latter helps you earn a profit from each trade.
Cryptocurrencies are very volatile and as such, their price could change significantly within seconds, minutes, hours, days, weeks, etc.
This means you can make a 20%, 40%, and even 50% profit within seconds, minutes, etc.
But keep in mind that there could be losses when you buy a coin that ends up devaluing.
Cryptocurrency trading is also less risky than Forex since you can choose to hold your devalued coin until its price spikes back to the zone you bought it before selling.
Does Day Trading Apply to Cryptocurrency?
Yes, day trading applies to cryptocurrency.
This term may be popular in Forex and other financial markets, nonetheless, it is also a cryptocurrency trading strategy.
For the uninitiated, day trading involves buying and selling a cryptocurrency or asset on the same day.
Therefore, you’re a day trader if you don’t hold the asset into the next day.
The benefit of being a day trader is that your funds won’t be susceptible to overnight risk.
And in cases where news shakes the market, you would’ve already walked away with your capital or profit for the day.
How Do I Start Day Trading Cryptocurrency?
You can start day trading cryptocurrency by first learning how to trade with BiTA.
The best cryptocurrency exchange or site will be recommended to you and the best strategy to employ during your trades.
By strategy, we mean the best indicator to use, time to trade, most reliable chart patterns, and so much more.
The same goes if you want to know how to trade Bitcoin, Ethereum, Tron, ChainLink, Binance Coin, and other top crypto assets in Nigeria
Best Bitcoin Wallet in Nigeria
The best Bitcoin wallet in Nigeria is an offline wallet or Cold Store wallet that is not connected to the internet.
Some examples of offline wallets are hardware wallets like Ledger and Trezor.
Ledger and Trezor are hardware devices that look like a USB. They help to store the private key to your Bitcoin wallet.
There are also paper wallets that can be printed and stored offline.
Over and above that, the BiTA app comes with a safe Bitcoin wallet to enable you to store your funds.
Can Bitcoin Get You Rich?
Believe it or not, Bitcoin can get you rich fast.
But then, it is more important to learn how to trade cryptocurrency before investing your money in Bitcoin.
Having good trading skills will help you amass more profit through your trades instead of losses.
Now that you know how to learn cryptocurrency trading in Nigeria, take the bold step and reach out to BiTA for your training.
There’s no need to procrastinate since there’s never a better time than today to increase your knowledge arsenal.
Add trading to one of your skills and you may be well on your way to creating an extra source of income.
And remember, trading is for everyone whether you are a young school leaver, student, worker, or your very own boss.