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Originally Posted by Gemcrusader
So ive been investing a little here and there and so far im only a couple hundred down HA! Learned a lot. And expecting to get some gains in the future. But who cares. Its only money. :p
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One needs to realize, or find out that there are two kind of Bitcoin exchanges, to stay with Bitcoin. Note that this is my own terminology.
There are
trading exchanges like e.g. www dot plus500 dot com. Here you open a position and if the result is favorable you close it at a win. However, the open positions have a limited lifetime. If you reach that then it will be closed automatically, at whatever price, unless you extend the open position but that will costs a maintenance fee. The exchange makes money through the spread, the difference between buy and sell price, buy always being higher.
Then there are
investment exchanges like e.g. www dot luno dot com. You invest the money and leave it there as long as you want. In a rising market the value will increase. At any time you can cash out at the current price. The exchange makes money by charging a small percentage like 1% whenever you buy Bitcoins.