How to become a Bitcoin trading agent and earn Bitcoin - Buy Bitcoins News profitable bitcoin Mining

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  • How to become a Bitcoin trading agent and earn Bitcoin

    MANY PEOPLE WHO GET HOOKED WITH DIGITAL CURRENCY BECOME SO PASSIONATE ABOUT THE SUBJECT THAT THEY WANT TO CHANGE THEIR ENTIRE CAREER TO WORK IN THIS INDUSTRY. OF COURSE, THERE ARE MANY DIFFERENT WAYS TO DO IT, BUT ONE OF THE OPTIONS FOR A MORE ACCESSIBLE AND PROFITABLE CAREER, IS TO ESTABLISH YOURSELF AS A COMMERCIAL AGENT OF BITCOIN .
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    BECOMING A COMMERCIAL AGENT REQUIRES YOU TO HAVE SOME CAPITAL BACK, BUT IF YOU ARE WILLING TO START FROM THE BOTTOM IN YOUR FREE TIME AND YOU WANT TO BUILD YOUR BUSINESS GRADUALLY, THIS SHOULD NOT BE AN OBSTACLE FOR YOU OR FOR MOST PEOPLE; NOW IF YOU HAVE ENOUGH CAPITAL TO BUY OR SELL ONE OR TWO BITCOINS FOR YOUR FIRST BUSINESS TRANSACTION , THEN THIS MAY BE MORE THAN ENOUGH TO GET YOU STARTED. OF COURSE, IF YOU HAVE MORE THAN THAT, THEN THINGS WILL BE MUCH EASIER AND MORE PROFITABLE FOR YOU.



    THE RISKS OF BEING A COMMERCIAL AGENT OF BITCOIN


    There are three main risks associated with becoming a 'Broker'  or Bitcoin's commercial agent: the risk of being cheated, the risk of breaking the law or breach of regulations and being pursued, and the risk of losing money due to fluctuations in Exchange rates.

    COMPLIANCE: DO YOU NEED A LICENSE TO BE A BITCOIN COMMERCIAL AGENT?

    It is a conflicting issue of whether or not it is necessary to obtain a license to operate legally as a Bitcoin broker . It will also depend on the legal jurisdiction in which you are operating (which includes the location of your clients, as well as yours) . The safest course of action for anyone considering entering this business is to consult a legal advisor who can give you an expert guidance.


    For example, if you reside in the United States , it is generally recommended that you obtain a Money Transmitter License , but with little legal background and regulators of individual states taking different positions, the situation is not yet clear. In many other countries , such as the UK , the situation is even less clear, as the government is adopting a 'wait and see' approach  to regulation. This usually means that people do not bother getting a license.

    Being licensed usually means that you need to meet certain requirements, such as obtaining customers' personal data and keeping records for a certain amount of time.


    How to become a commercial agent


    Even in countries such as the United States , where certain authorities claim that digital currency trading agents need a license, many transactions are conducted on peer-to-peer websites, as ordinary users are free to buy and sell currencies without registering as a Company, this creates a confusing line only for traders who are checking the waters to get started.

    At what point do you cross the line of being a common user in buying and selling with other users, to convert a brokerage business that needs to be registered? There is no hard and fast answer to questions like this and you will have to determine for yourself if your activities could have crossed this confusing line and what your voracious appetite could endanger the prosecution and possible fines.


    DO NOT GET RIPPED OFF

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    Scammers turn to commercial agents and this needs to be taken into account. When you take payment using a method through which payments can be reversed or canceled in exchange for bitcoins whose transactions can not be reversed, here you are taking a risk. A customer can try to reverse a payment between them to get free coins (which you can usually challenge ) or they can be criminals who pay you with a hacked account , in which case the payment processor can reverse it.

    To moderate against this you need to be well-educated with policies for each of the payment methods you choose to accept and make sure your prices reflect the comparative risk you are taking. You can also reduce your risk if you require u : Bitcoin Trading


    DO U KNOW : BEST BITCOIN WALLETS IN 2017


    REDUCING CURRENCY RISK


    A broker  is usually prepared to buy or sell at any time, taking a profit from the difference between supply and demand for prices. This means however, that you run the risk of losing your money if the price changes significantly. For example, if you buy bitcoins with the intention of selling them, the price drops by 20% , then it is very unlikely that you can sell them without having a loss.

    There is no way to alleviate this 100% , so you need to make sure you're making enough profits to cover potential losses, but you can reduce your risk in the following ways:

    Reduce your trading volume or even stop trading during periods of high volatility.
    Identify the trends: If you think the price is going down, then reduce your purchase orders or place them further away from the current value at any given time.

    PEER-TO-PEER MARKETS


    The easiest way to start as a Bitcoin trading agent is to use a peer-to-peer market service where anyone can sign up and start buying and selling currencies immediately. Most of these sites will allow you to choose from multiple FIAT currency payment methods , including national bank transfers and digital wallets such as Paypal or OKPay .

    Both professional traders and individual Bitcoiners use these sites in a very similar way because there is no minimum capital requirement, as long as you have enough cash or coins to make a trade where you can use a service like this, although you can Have a minimum balance of bitcoins to create your own ads. You also do not need to go out and look for customers, simply create an offer or respond to someone else's offer.


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    Of course, the other side of the same coin is that there is a lot of competition when you use something like this. It is also true that reputation, having an established history or trading through that particular site or services, is very important. This means that beginners have to start doing tasks without any benefit, or even with a small loss, in order to build a reputation and also some regular customers, before they can start to get a significant amount of shops at more profitable prices .

    The most popular peer-to-peer market is LocalBitcoins . This site has a good number of users in most countries around the world and allows businesses with a wide range of different payment methods. There is also an active forum where you can establish contacts with other agents and receive advice and information or ask questions to the most experienced traders.


    Commercial transaction

    Another interesting service is Multisigna . The technology behind this exchanger is more advanced and more secure than that of LocalBitcoins , because it uses multi-sig security for its users , where it stores coins in the site without running any risk of being hacked or running away from the business The balances of users, this is taken advantage of with a centralized deposit service such as LocalBitcoins , but there are fewer payment options and also has a significantly smaller number of users.

    SALES 'AT THE COUNTER'

    Another way to run your business is to conduct 'on the counter' sales . These are the largest sales traded with individual buyers and sellers, rather than by placing publicly visible offers on an exchanger.

    The advantages of trading are that you perform fewer transactions, which means more profit per business transaction, and you probably will not have to pay commissions to work through a third party service.

    The downside is that you will have to find your own customers, instead of taking advantage of a large and established customer base through an existing exchanger.

    You can establish yourself as an 'OTC'  intermediary by creating and advertising your own website, or by using something like Bitcoin OTC Web of Trust . Creating your own website brings an additional opportunity to act as a trading agent for alternative cryptomonedas, as well as for BTC .


    TRADING AN EXCHANGE

    bitcoin trading

    White label exchange services, such as the one operated by Leverate , allow agents to set up their own exchange / application website with a complete trading platform and even to be able to add liquidity to other markets.

    This is a highly competitive market that will probably require a significant investment as well as a lot of successful work to perform, but it certainly offers a much greater potential benefit than the other options discussed here.

    And also…

    The LakeBTC interchange announced  the opportunity to turn your website into a "LakeBanker . " However, there have been few details about this as to exactly what it would imply and what terms they would offer. I will let the reader decide whether it is worthwhile to continue with more information about opportunities like these.

    it may interest you: trading Altcoins for free, Changelly.


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