What You Should Know about Forex Trading and Bitcoin

What You Should Know about Forex Trading and Bitcoin

Have you tried forex trading with using Bitcoin? If you want to try it, here is some information you must know.

How to Start It

Of course, first you need to get Bitcoin. There are many cryptocurrency projects, where you can get and mine for Bitcoin. After you get the Bitcoin that you need, you can start your Forex trading. What To Know In Forex Trading

Next, you need to find broker that provide Forex trading with Bitcoin, for example AvaTrade, Liteforex and other. Then, you need to make deposit like when you open standard Forex account. You need to use Bitcoin here, and usually you will need to use 2 Bitcoin to open the account. You can transfer it directly from your digital wallet. 

With just opening account and invest your Bitcoin on Forex market, you can get profit from it. For example, when you deposit your Bitcoin, the value of 1 Bitcoin is $500, which means you will have $1,000 in your account. Then, you want to take the position in British pounds, where there exchange rate is £0.5 per $1. You will get £500. 

Then, the rate changes into £0.45. You will get 11.11% profit from it, so the money in your account will be $1,111.11. Then, the US$ exchange rate is also changing, you will get the extra change, which will add to your money in your account. So, basically, you can get lot of profits from it.

The Benefits of Trading With Bitcoin

Other than easy profit like mentioned above, there are also other benefits you can get from using Bitcoin for Forex trading. For example:

  • Decentralized concept means the value of your fund won’t be changed randomly by specific party. Therefore, you can easily plan your investment, which will increase your chance of success.

  • High Leverage, which will give you high trading margin. This will give you more freedom to get more profit. For professional trader, this will become bigger chance to make money, but there is also big risk behind it. So, you need high skill and experiences here.

  • No Transaction Costs. This means you don’t need to pay other party service for the transaction that you’ve made.  

With Blockchain system, which is the base system of Bitcoin, that has stabilized today, trading with Bitcoin could become your best choice. It’s easy, doesn’t need too much deposit and safer. With right strategy, you can get more profit from forex.


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