Is it wise to trade using Bitcoins? CEO of JP Morgan Jamie Dimon thinks otherwise. He also thinks that it is stupid to trade with other cryptocurrencies. Venture capitalists are doing the opposite by putting in more money in Initial Coin Offerings (ICOs). Bitcoin trading is a part of the grinding activity in the stock and foreign exchange market. In trading, good trades mean investors make money and bad trades mean there will be losers at the end of the day. Bitcoin trading has its ups and downs in the stock and Forex market arena. For example, the Bitcoin was $4,000.++ more than the value last December 18, 2017, as to this writing. The stock market value is so volatile that the bitcoin market value trajectory sharply rises up and plummets down the graph.
Four Major Reasons for Bitcoin Trading
1. Bitcoin is global in nature. Most stock market entities have fiat currencies or precious metals supporting them. This means that regardless of economic conditions nor the policies of a specific country shall affect the value of the cryptocurrency. The invention of the Bitcoin by Satoshi Nakamoto is for the reason of independence of the crypto money from under the control of any government or financial regulating authority.
2. The electronic web-based payment system is free from any government or central entity. It is transferable in a fast and secure manner without any middleman with the least processing fee. Since the creation of BTC, bitcoin prices behaved according to critical events in its environment like the devaluation of the Chinese Yuan or the Greek economic and financial controls of their country.
3. Bitcoin trading is available 24/7. The accessibility of the bitcoin trade is open 24 hours a day and seven days a week. This feature is what makes Bitcoin trading click among its BTC account holders and new investors in the market. There is no official BTC Exchange, therefore there is no exact bitcoin value. The Bitcoin trading becomes an opportunity for arbitrage transactions. “Arbitrage” is when a capitalist simultaneously buys and sells an entity (bitcoin) and makes a clear profit on the price difference. The price of the BTC stays within the same range in general.
4. Another reason why investors love bitcoin trading is the volatility of the product. Bitcoins are showing the drastic rise and fall in its value throughout history. It has a tendency to rapidly increase or decrease its value considering the frequent price changes in the market. The market volatility is what makes bitcoin trading exciting and more challenging.
For these reasons that an investor could venture into bitcoin trading and cash in on the market. Considering that there is no official BTC exchange, Investors and traders should see to it that they choose a legitimate exchange for their bitcoin trading.
Factors in selecting a Foreign Exchange Company for your Bitcoins
- Find a trustworthy Bitcoin Exchange Point that would not disappear with your hard-earned digital cash.
- Look for a bitcoin exchange facility that accepts your form of payment when you must use the fiat currency or if possible, your local money, upon the purchase of the cryptocurrency.
- A bitcoin exchange point should have minimal fees for your bitcoin processing either for buying or selling the crypto money.
- If you are doing your bitcoin trading in large amounts, be sure to choose a bitcoin exchange with adequate liquidity and depth.
These factors will guide your way for a best BTC Exchange in the market. Here as some Bitcoin Exchange facilities basing on the factors presented above.
Bitcoin Exchange Points
Kraken The number one exchange point with regards to the EUR bitcoin trading volume at approximately 6,000 BTCs per day. At present, it is on the top 15 Bitcoin exchange in USD volume.
Coinbase The first BTC Exchange regulated in the United States. Its trading capacity is about 8,000 BTCs per day, the fourth biggest exchange in USD volume.
Bitstamp The bitcoin exchange facility was around since 2011, making it the world’s oldest BTC exchange point. Bitcoin trading for this entity is around 10,000 BTCs per day, The second largest exchange with respect to USD volume.
Bitfinex This entity is the number one Bitcoin Trading point in the world with approximately 25,000 BTCs traded on a daily basis in terms of USD volume. Bitcoin deposits are welcome with no identity validation as long as the Bitcoin crypto money transfer applies.
Bitcoin trading at the Foreign Exchange Market
- First, find a trusted broker that will open you a forex trading account that accommodates BTCs. Bitcoin trading accounts like the Avatrade, eToro, or Liteforex will suffice.
- Withdraw two bitcoins from your electronic wallet and transfer them to the bitcoin trading forex account wallet. The present dollar value of your bitcoin upon the deposit will reflect in your forex account. The updated BTC value in the market as of this writing is $14,207.06 which is equivalent to $28,414.12 for two bitcoins appearing in your foreign exchange bitcoin trading account.
Advantages of Bitcoin Trading in the Forex Market
- Due to the decentralized valuations of the bitcoin, it is free from any political, economic, or financial influence. There is no central bank that dominates the BTC’s market and its distribution.
- Stock market brokers do not impose withdrawal or deposit charges to bitcoin traders, improving profits and saves money on their side. Charges are low in the forex bitcoin trading market to attract more clients.
- Forex traders offer high leverage on bitcoin trading. Expert BTC traders can use the advantage for their benefit and make a lot of cash. Bitcoin trading will fetch traders high margins and treated with caution in the market.
- You can start your bitcoin trading in the foreign exchange market a very low cost. Some bitcoin trading entities accept a starting amount to as low as $25. Other brokerage firms offer the same amount deposited to the newcomers account for the initial bitcoin trading.
- With Bitcoin trading in the foreign exchange market, your transactions are secure and safe. You don’t even have to declare your identity to start your bitcoin trading. BItcoins have the unique codes when transferred for deposit to other digital bitcoin wallets.
Bitcoins hyped up its value and market capacity with the influx of BTC investors and more bitcoins awarded to the crypto miners. With the acceptance of bitcoins in the world economy to pay for goods and services, business entities joined in the bandwagon to be a part of this phenomenon.
One of the online services business that accepted the bitcoin as a medium in its operations are the betting software entities. The sports booking software that installed the bitcoin payment option facility is the bigbook.ag wagering program company.
The betting business gave pleasant betting experience and made promotional offers that attracted more betting clients to its site. Customers are claiming that it is a more convenient way to enjoy the luxury of wagering using their bitcoins derived from bitcoin trading and BTC mining.
Bigbook.ag allows the customers to wager with their bitcoins in its betting site. All you have to do is to transfer the bitcoin amount from your bitcoin wallet to the bigbook.ag sportsbook software wallet and wait for its confirmation. Upon receipt and processing, your account balance will indicate how much you have available to start your betting activity.
What is convenient for the use of the bigbook.ag betting software is the least amount of transaction fees that you will incur. Your frequent withdrawal and deposit transactions will cost you nothing, saving you much money compared to credit cards and wire transfers.
The amazing thing when using your bitcoins in the bigbook.ag online gambling sites is the speed of your bitcoin withdrawals that takes only about a few minutes. Conventional withdrawals using the fiat currency thru wire transfers take days or even weeks to reach your bank.
Bitcoin trading already taking its place in the foreign exchange market and will continue to fuel the crypto economy as payment for goods and services. It is not a surprise that big book.ag welcomed the cryptocurrency with open arms.