Let's start Bitcoin (virtual currency / cryptocurrency): Part 5 - Actually make a trade

Start Bitcoin (virtual currency / cryptocurrency): Part 5 – Actually make a trade

Now choose an exchange (you can open multiple accounts)

Once you log in, go ahead and buy some Bitcoin.

1【Two methods for depositing Japanese yen by bank transfer】

To reflect Japanese yen in your account, a transfer from a bank account is common. (*)

There are two methods of transfer depending on the exchange,

1: “Apply the amount in advance, then transfer”

2: Transfer with a specific name like “Example: Yamada Taro OXOX127644”

or a unique beneficiary name when transferring

For small deposits you would use method 2; for deposits of several million yen at once you would use method 1

this is easier, but ultimately it depends on the exchange, so you have to follow that.

(*) Besides bank transfers, there are also credit card payments and

convenience store payments. This area may gradually see more services

as time goes on.

2: Purchase within the deposited amount.

Once the deposited amount is reflected in your account

then all that remains is to buy; this is not much different from online securities or

online FX trading.

A simple method is either “specify purchase amount” or “market order”

Most exchanges cater to intermediate to advanced users

with take-profit and stop-loss, or

leverage and expiration dates, etc.

After you place an order, Bitcoin will be reflected in your account

and Japanese yen will be deducted by the order amount and displayed.

How about that? It’s very simple, isn’t it?

(*This article is free of charge. There are no paid sections, so please note)

P.S.: Now that it’s getting quite cold, I’d like to place a bet on the Tenno Sho and even buy some winter clothes.