Want to Trade Bitcoin at a Forex Broker? Read our Bitcoin Broker Reviews below!
At BitcoinBrokerReview.com we are keen on providing you with information about brokers offering bitcoin trading. We provide the details you will not find at any other broker comparison website! Start reading our reviews below and find out which broker will really provide you with the best trading conditions!
Why Trade Bitcoin with Forex Broker
This is a good question, since now also many of the Cryptocurrency Exchanges are offering Trading in the crypto currencies they are supporting why not also trade there.
This is not trading as I mean, this is investing.!
So trading you actually do not own any of the coins that you are trading. The same format works for the forex industry as a whole. You do not actually buy the currencies, you trade or speculate on the value of the Coin and according to that you are able to Earn money or lose money.
Advantage for Forex Brokers working as a Bitcoin Broker
So what would be the advantages of Trading cryptocurrencies with a forex Broker instead of an Exchange like Coinbase or cex.io ?
There are several advantages that a forex broker offers or possesses over an exchange:
One of the most important advantages is actually experience. Most of the brokers, at least the brokers we have here on Bitcoin Broker Review, have been in the business for at least 5 years, most of than even more than 10 Years, they have seen I all and lived through it all. They know what it takes to run a broker and provide their clients with the trading tools and services that a trader requires.
Regulations is important for the simple fact that you should see it as an insurance for you. The crypto currencies are not regulated, this is the appeal to these currencies to begin with. This does not matter for the broker, the broker is regulated towards you, regardless if the instruments are under regulations or any government entity.
this means that if the broker would go belly up for some reason you will have claim to a compensation as is set under the regulations, this is in most of Europe around $25,000 and in the UK this double. You are insured where with an exchange this is not the case
Where you are trading ,m the charts , the tools and how fast the trading platform is are all important aspects for the right trading experience. There are many platforms out there but one of the most used and popular is still the Metatrader 4. There are of course other solutions like the Openbook of Etoro which is a social trading platform. The Platform should be run by a company that knows what it is doing, a forex broker this is their bread and butter. This is what they know.
Most of the forex brokers has had it fair share of angry customers as there are enough traders that during trading make a mistake and rather blame the broker then actually take responsibility. But there are also even more Brokers that don’t take it serious when it comes to customer service and many are scam Brokers. that is why our list at Bitcoin Broker Review only have the best brokers in the industry. All these brokers stood the test of time and are known as trustworthy brokers.
It is important to point out that Trading in crypto currencies is still very new, and as such even the brokers do not know yet what this means when it comes to profits and losses for them. You want to deal with a company that has the financial backing and deep pockets to be able to turn over the profits if you were so lucky or skilled. These are in general then not the new company not start-ups that opened an exchange.
If you look to invest and simply buy an amount of for example Bitcoin or dash, then the exchange is the place to be. This is simply the market place for the cryptocurrency.
But if you plan to trade and day-trade on any cryptocurrency , the Forex brokers are the only true option , they have the experience, regulation , support, tools and finances to offer this service in the right and legal Manner.
QUICK BITCOIN BROKER LIST FAQ
What is bitcoin trading?
That means Bitcoin can be traded like a commodity, like gold, oil metals or even corn coffee and the likes, still . everything is about the value of the altcoin or Bitcoin of that specific moment. This is where “Buy Low, Sell High comes in . so you trade on the value of the Bitcoin(BTC) against the USD.
How do Bitcoin exchange work?
the “price/ value” of bitcoin will increase as the lower-price sell orders are no longer available simple form of question and demand. this is also where is different from a Bitcoin Broker in the sense that you do not actually buy with the Bitcoin Broker the crypto currency.
The trader can then use his positive BTC balance in the exchange to sell his BTC for Dollars (or other coins). Similarly, someone who wants to buy Bitcoin deposits USD with the exchange and then uses the balance to buy Bitcoin from sellers.
Since there is with Bitcoin a Finite amount. The price will reflect that and be volatile
How does the bitcoin get its value?
all that is required for a form of money to hold a certain value. This is then based on trust and adoption of this currency if it will succeed. When looking at Bitcoin, this is reflected by its growing base of users, merchants, startups and transactions in general.
Making it Become more Mainstream means for a cryptocurrency Success. bitcoin’s value comes only and directly from people willing to accept Bitcoin as a valid currency.
How do you sell bitcoin
Selling bitcoins is fast and easy and should not be something to scare people off
- Create an account with an exchange
- Go to deposit page, choose bitcoins and send them to the address displayed on the page.
- Once your bitcoins arrive, go to buy/sell page and click sell bitcoins.
The hard part would be to check the costs of the exchange and if they charge a fee, as this will cut into the amount you get for the Bitcoins
How many Bitcoins are in the world?
Bitcoin. 12.5 bitcoins per block (approximately every ten minutes) this is to continue till around the middle of the year 2020, and then afterwards 6.25 bitcoins per block for 4 years until next halving like radioactive half live, so does this logarithm work. .
This halving continues until 2110–40, when 21 million bitcoins will have been issued and there are simply no more Bitcoin , we will most likely not experience this anymore
How many Bitcoins are in circulation?
As of 6 September 2017, there are 16.6 million bitcoins circulation of a capped total of 21 million. That means over 82% of all bitcoins are already in circulation. Currently there are 25 new bitcoins produced (mined) every 10 minutes.
How are new bitcoins created?
New bitcoins are generated by a competitive and decentralized process called “mining”. This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.
How much was a bit coin worth in 2009?
One upon a time there was a simple Bloke called Kristoffer Koch was writing a thesis on encryption. Kris bought 5,000 bitcoins in 2009 for the enormous amount of $27, now the 5000 Bitcoin are roughly worth a 16.7 Million dollars.
Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital’s wealthier areas.
What is a bit wallet?
A “wallet” is basically the Bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and then send them to others. There are two main types of wallets. A software wallet is one that you install on your own computer or mobile device.
What is a wallet address?
An address is a Bitcoin public key to which transactions can be sent. this is part of the foundation of the Bitcoin protocol itself. then in short you should see the wallet as a collection of private keys that correspond to addresses. A private key is required to spend from an address.
How do I use my bitcoin wallet?
- Open an account., process depends on where you do this but is in general very easy and fast
- Choose a strong password. my advice use a password generator and tattoo the password somewhere
- Recommended: connect an email address with the account, for backup purposes.
- You now have a Bitcoin Address, congratulations, you can now receive payments – just email your address to another person, and he can send money directly to this address. the process is much like PayPal.