Immediate Thorenext
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$30B
Digital Currency Exchanged
10M+
Active Traders
195
Countries Supported
What Is Immediate Thorenext?
Immediate Thorenext is a trading platform that suits experienced traders and beginners alike by providing them with access to trade on many Bitcoin trading pairs. It serves a wide range of crypto traders who wish to have a diversified trading portfolio and gain full control of their trading decisions.
IMPORTANT NOTE:
You will beConnected with an account manager as soon as you sign up on Immediate Thorenext, explain how you would like to trade, what your risk tolerance level is, how fast you wish to hopefully grow, and what budget you want to allocate to Bitcoin trading. Everything you explain will help the account manager to provide you with the trading plan that goes perfectly well with your trading style.
You may practice trading before putting a single penny at stake. Your trading journey on Immediate Thorenext begins with access to educational resources that may contain something as simple as a basic trading glossary and something as advanced as pro-level asset analyzing tools. The demo account allows trading in an environment that feels as though you are doing live trading but you are only using fake money on fake trades for the purpose of learning.
Interact with live charts and graphs to change their view. Arrange the layout in a way that makes sense to you. Group your favorite Bitcoin trading pairs into categories to be consistent with your analytical practices. Navigate the platform with ease because it has been designed with new traders in mind and has a user-friendly interface.
Never let trading opportunities go when you can execute them within seconds. The platform simplifies the market watching process and allows you to enter and exit trades at unprecedented speeds. Pick whatever trading strategy that suits you because Immediate Thorenext can accommodate all of your varying trading needs.
Access many Bitcoin trading pairs that are at your disposal. Keep control of your trading portfolio as all trading decisions are made with your approval. Enjoy leverages and spreads on trades as offered by your account manager. A simple signup on the platform helps you create a trading account and hopefully enjoy the trading conditions that you choose yourself.
Learn how to hopefully make smart trading decisions when you can analyze the market using a variety of tools. View the economic calendar to know what’s coming ahead and get market insights to know trader sentiment. Immediate Thorenext gives you access to the cryptocurrency market and allows you to trade 24/7 so no opportunity ever gets missed.
What You Should Know about Bitcoin
Every trader should get some understanding of the asset they are investing in. In this case, you want to have some knowledge of Bitcoin so you can be sure of picking this asset for your trades. Bitcoin came into being in 2009 when an unknown person on the internet announced its creation on a forum and gave the world the concept of a decentralized currency.
It is not sure whether the account used for announcing the creation of Bitcoin was a person, an institution, or some corporation. The only thing known about them is that they called themselves Satoshi Nakamoto. When it was first launched, people were still trying to understand the concept of Bitcoin. If you are still not clear about its technology and how Bitcoin works, here is some information for you to get started.
It’s a Digital Currency
It could be a simple statement for some but many people still don’t understand what a digital currency really is. A digital currency exists only in the digital world, which means you won’t find it in the physical form. The coin with a big “B” written on it that you keep seeing on the internet is only a concept or a digital representation of Bitcoin.
What makes it a truly digital currency is that it is created in the digital world. It’s not your government or the central bank giving approval of its printing. A digital currency is created through the process of mining. Mining also refers to the solving of mathematical puzzles for the creation of new units of a digital currency.
It’s Really Decentralized
Imagine you send $100 to a friend located in another city. When you use your bank’s app, you are connecting with your bank to initiate the transaction. More importantly, it is your money but you have to go through the protocols set by your bank to access it. Also, when you make the transfer, a record of this transaction is created in the bank’s records.
If the bank debits your account but your friend doesn’t receive the $100, you don’t have any way of finding out where the money went. On the other hand, when you transfer 1BTC to your friend from your personal crypto wallet to your friend’s crypto wallet, the bank will not be involved. You are using your own wallet and sending money to the wallet that belongs to your friend.
The people validating this transaction on the network to keep record are also on this network. They are called miners and they have to put in a lot of computational power to solve mathematical puzzles to validate a set of transactions and create a new block on the blockchain.
After a block is created, everyone on the network now has the same record of the ledger but the bank is never a part of this transaction. That’s what makes Bitcoin truly decentralized.
It’s Very Scarce
Bitcoin is scarcer than most people think it is. A lot of people talk about Bitcoin but they don’t own a lot of units of this cryptocurrency. The reason for them owning only a few units is the huge value of the coin. Just a little less than 10 years ago, the same coin could be bought for $490.
Time passed and the value of Bitcoin has continued to increase. It reached a high point of $68,000 at one point in 2021. While it is struggling to stay that strong in 2023, some would say it will continue to be a scarce resource. There are only 21 million Bitcoins in the world and all of them will be out by 2140. You could say that it will still take more than 100 years for all the Bitcoins to be available to the public.
Defining Your Bitcoin Trading Strategy
Before you start trading, it is essential for you to have a strong trading strategy. The more well-defined your trading strategy is, the more consistent you can be with your trading outcomes. Read more to see how you can define your Bitcoin trading strategy.
Allocate a Budget
Ensure to have a set budget for this activity. You can’t ignore the fact that you are trading on Bitcoin, not relying on it entirely for your livelihood. For that reason, you can only allocate a small portion of what you make for the purpose of investment.
To make the calculation simple for you, if you make $100 a month, you may only have $20 allocated for investments whereas the rest of the amount could be for your needs and wants. You could call the budget you allocate at first the testing budget.
This amount may help you get familiarized with the market, how it behaves, what the support level of Bitcoin is, and what its resistance level is.
Define Your Trading Style
The trading style you pick depends a lot on the risk that you are prepared to take. Also, it depends on what you really want to achieve with your investment in the cryptocurrency market. Do you want to try and maintain the value of your savings? Are you looking for quick possible growth? Or are you someone who wants a possible continuous flow of income every month?
There is a trading style suited to every type of trader. If you want to try and preserve the value of your capital, you want to keep the risks low. If you want a possible continuous income, you want to play safe and go for safer options. However, if you are someone looking for possible quick growth of your investments, you’d have to be prepared to take big risks.
Define Your Trading Strategy
Yes, it’s a completely different part of your planning. When you define your style, you are talking more about the size of the risk you want to take. On the other hand, when you talk about the trading strategy, you are referring to the frequency of the risk i.e. how quickly you want to take risks.
So, you have scalping, which means you trade several times in a day. You can hopefully make small but many frequent gains. On the other hand, you have day-trading, which also involves many trades within a day but less frequent than you would as a scalper.
Position trading and swing trading are all about waiting for a long time. Those who adopt the position trading approach wait for the longest amount of time. In either case, you are taking a big risk because if you want to wait for a long time, you may want to hold onto a big chunk of the asset so your possible eventual gains are sufficient. If things don’t go as you predicted, you’d end up with a big loss too.
Preparing for Volatility
Last but not least, you will have to prepare for the volatility of this market. Bitcoin is volatile and there should be no doubt about that in your mind. However, you don’t want to avoid the market and never trade in it because it is volatile. The better way to deal with the risk of volatility is to prepare a trading strategy that tackles it well.
For example, you have the take-profit and stop-loss strategies. In each strategy, you have the option of defining a percentage that will act as the maximum high or low of your trade. The trade will automatically close beyond this percentage that you set.
So, when you trade and use the stop-loss strategy, you will try to define a percentage of loss that you will tolerate. Let’s say it is 5% of the current price of the asset. As soon as the loss on your trade touches that point, the platform will close the position and try to minimize further loss from occurring.
In other words, you have many ways to prepare for volatility. Volatility never means that you should not trade in the market.
Why Bitcoin
If you can harness the power of volatility, the outcomes on your trades might be huge
You will be investing in the most trusted cryptocurrency in the world
It is one of the most liquid digital coin that you can even use for buying stuff online
You will invest in the cryptocurrency that might remain scarce even after 100 years
Being the most well-known cryptocurrency, you will find plenty of educational material on Bitcoin and Bitcoin trading
Investing in Bitcoin Takes Only a Few Minutes with Immediate Thorenext.