{"id":681,"date":"2016-11-21T08:55:56","date_gmt":"2016-11-21T08:55:56","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=681"},"modified":"2020-09-21T06:39:52","modified_gmt":"2020-09-21T06:39:52","slug":"bitcoin","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/bitcoin\/","title":{"rendered":"Bitcoin Forex Brokers"},"content":{"rendered":"
The Forex industry is known to be open to new, creative and innovative ideas all the time. One of the innovations popularized by Forex recently is the system of bitcoins. More and more Forex brokers add bitcoins as a method of payment or as a trading instrument in a currency pair. Forex has come a long way, and new sophisticated features are being added on a daily basis. Forex is an online business with no physical location, and as such, welcomes clever virtual ideas, and brokers have been open- minded to new ideas.<\/p>\n
Bitcoin, abbreviated BTC, is an online virtual currency with no centralized exchange. It is an electronic cryptocurrency for storage, transfer, and acquisition of money in a decentralized way. There is no central authority or intermediary between the broker and user. The bitcoin has been actively present since 2010\/2011. It is controlled by all users, and all they have to do is to use software complying with the same rules. Users can run their bitcoin wallet over a mobile app or their desktop computer, over which they can receive and send bitcoins. A secure, safe and encrypted system lies behind bitcoin software so that transactions are protected, and users can safely deposit and withdraw.<\/p>\n
Users are free to pay at any time they want. Traders can send and receive bitcoins in any part of the world. Users are the ones who control their money, and there is no third party. This is probably the biggest advantage of bitcoin. The transfer will not be affected by holidays, non-working days, or banks. Bitcoins do not necessarily have a fee unless users choose a fee on their own. Traders basically can decide how much of a fee they are going to pay when spending. Moreover, the higher the imposed fee, faster the transaction. We already stated that the bitcoin system is highly protected given that customers do not provide personal or private information. In that way, fraudulent chargebacks can be avoided. With bitcoins, some administrative fees can be avoided, and larger markets can be accessed. Bitcoin is completely neutral and transparent due to its encrypted protocols which are safe.<\/p>\n
Bitcoin is relatively new, and still many people either restrain from or are unaware of bitcoins. Meanwhile, some businesses (like Forex) encourage bitcoin usage and maybe they will spread the word among the masses. The value of bitcoins in circulation is relatively small. Volatility can be affected even by the smallest events.<\/p>\n
As we already said, Forex encourages new business ideas which make things easier for traders and themselves. Therefore, one can see that the number of brokers using bitcoins increases. Many traders find the bitcoin payment method more than convenient. Moreover, many brokers allow the bitcoin as a currency of value. They allow traders to place trades on a for example BTC\/USD, or BTC\/EUR pair. When observing the brokers\u2019 logic and their bitcoin tolerance, one can notice the following:
\nIt is usually the case that brokers who allow deposits and withdrawals via bitcoin do not offer bitcoin as a part of a currency pair, and they cannot be traded. Other brokers, on the other hand, allow bitcoin trading, but refuse deposits via bitcoin. Still, this is not the rule and does not apply to all brokers, but just a general indication.
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