Bitcoin is definitely the most popular cryptocurrency ever existed. There is an increasing number of Forex brokers that promote bitcoin trading. This has opened the doors for new opportunities in the currency trading market. We would like to speak about the benefits of trading BTC.
First of all, bitcoin is decentralized. The rates of bitcoins are fixed for every part of the world, as there are no institutions like central banks that can influence bitcoin rates somehow. Additionally, bitcoins are not affected by the change in interest rates or any other macroeconomic forces. Since this digital currency is global, there is no problem for traders in the USA to trade with the broker located in Australia for example. However, it still important to consider the regulatory environment of your broker.
Although speculating on the bitcoin price fluctuations is risky, it can also be very profitable. Brokers usually offer high leverage for trades with bitcoins. The leverage provided by brokers can reach even 1:1000. Moreover, online currency trading brokers usually do not require you to make a big deposit to start off. Some might even offer you a bonus to begin trading with the boost. As for the withdrawals with bitcoins, they are mostly free. You still have to consider best trading brokers specifics, as some might still charge a tiny commission for funds withdrawal. Nevertheless, you do not pay any fees to third parties, because bitcoin transactions do not involve any middlemen.
Generally, the costs of trading with bitcoin remain low. Brokers are interested in attracting new customers. That is why they do not charge extra fees for the order execution. Lastly, all bitcoin transactions are secure thanks to the advanced encryption technologies. .Thus, your financial and personal info remains unexposed to the security risks.