Define "Trader" for me, Please.
I am a newbie and have bought stocks for over 50 years. I am excited to buy my first bitcoin, but the old school concept of buy and hold kicks in so where does the "Trade" part kick in? Can you give me a step by step, "A day in the life of a Bitcoin Trader". ie - I set up an account with the Coinbase Exchange and then to stay in sync, I registered for a Coinbase wallet and then bought a Ledger Nano S for security and only then tentitively bought $50 worth of Bitcoin from a Bitcoin ATM machine at the Exxon Gas Station at the corner of Alpha and Beta in downtown Chicago. I held up my iphone to the QR code on the screen and my Bitcoin software grabbed the encryption code .... well you get the idea. I need a step by step primer as to what the "Trader" does to Trade. Thanks for reading.
I posted this on another subject, so please excuse me if it is cross-posted. D
What exactly do you mean?
Cryptotrading is like any other stock, but much more volatile.
You are already speculating on bitcoin, but to start trading you will need to move your BTC to an exchange such as bittrex.com , and then buy into another altcoin of which you think will be worth more.
I still think buy and hold is the best option, even in crypto, but because it is much more volatile, people start to daytrade eg, rapidly selling coins. I guess that is what you mean by "trading" / trader. I personally think it is pretty much a meme. You need to know what you're doing otherwise you're going to fail miserably at it.