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The News Trader works by compiling all of the news that’s out there on Bitcoin and cryptocurrencies in general, and then determines how these news events will influence the price of Bitcoin. You can then trade as you see fit with this data.
Once you download the software, you will have a dashboard where you can view the reports. As news is analyzed, the direction of that analysis and the strength that it is likely to have on price will update to your computer. When you see information that you think will impact price, you then go into your broker’s platform and execute trades there. That’s it! This was a surprisingly easy to use software platform, although it’s probably best to explore all that it has to offer before you start making trades with it. This way, you can take advantage of the features that will help you and learn how to navigate it appropriately before money is on the line.
Creating and using an account with Bitcoin News Trader is actually pretty simple. The process has a few different steps that go along with it, but overall, it’s pretty easy. First, you need to go to their site and create an account. You’ll need to give a little bit of personal information, including the email account that you will use to trade with. Once you do this, you’ll be assigned a broker. This is dependent mostly on where you live so that you can stay compliant with your local laws. After you make a deposit to this broker, then you will be emailed a link to download the XBT News Trader software. Download that, and you’re good to go.
A lot of people wonder why you need to go through these steps to use the software. Well, the people that have created this software do not work for free. They have put a lot of time, money, and energy into the software, and although they don’t charge you to use the software up front, they still need to create a profit for themselves. This way allows the brokers that they partner with to see how much money they are bringing into the broker, and then compensate the XBT News Trader team appropriately. You don’t need to pay anything extra, and they make a profit when you use their software. Everyone wins!
This model also encourages the team to keep improving their process. When you are doing well because of their product, they see greater rewards. This model encourages accountability.
This software is designed to help traders of all experience levels. Beginners can easily use it, although this isn’t always the best tool to start out with. It provides advice based on sentimental analysis, but this is just a starting point. The News Trader acts as a supplement, and although beginners will benefit from this, it is not the only thing that should be used during trade analysis time.
With that said, anyone who uses News Trader will benefit from it when they use it correctly. It is a great tool to gauge whether conditions for trading will be bearish or bullish, and it helps traders to get a better impression of where the overall market is and where it’s likely to go. For that reason, we recommend XBT News Trader to all serious Bitcoin traders who want to get a better handle on what the public thinks about the crypto market.