Bitcoin Forex Brokers – Best Legal Brokers Accepting Bitcoin Deposits
Have you ever thought about all the uses of currency exchange? Well, starting from international organizations, entire corporations and governments and even private individuals who want to go abroad, everyone has tried it at least once. The stock market offers this type of exchange and investments, among many others. However, the rise of technology has made it available in the comfort of our homes.
Forex trading is a representation of the online market for currency exchange and trade. It combines most of the world’s currencies according to the countries where it is used, as well as their value. Here, people can track the value change of their preferred currency and either profit or lose money according to their next investment. These moves tend to revolve around the rise or fall of the currency’s value while traders try to guess the final result.
Ultimately, after the trade is closed (each trading activity is limited to a certain period), one can determine whether or not their prediction came true. Some currency values change less than others which makes it easier for traders to see whether they have profited or lost before the trade closes.
Recommended Forex Brokers accepting Bitcoin:
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Payout %: 1:50
Payout %: 97%
Based on individual experience, most people would say that Forex is a completely legal foreign exchange practice. Still, there are many countries which haven’t yet legalized Forex trading for their citizens. The fear of money laundering and corruption pushes them further away from this market and even isolates their people from risky, but profitable investment opportunities. On the other hand, citizens from countries which have a more liberal approach can enjoy all the benefits from this type of trade.
Some of the latest tech innovations found a replacement for our real-life, fiat currencies. These are known as digital or cryptocurrencies. Throughout the years, developers created several digital currencies. One of those which managed to fight their way to the top is Bitcoin. Dating back almost a decade ago since it was released on August 18th, 2008, bitcoins fought their way to all the major online markets, including Forex trading.
Frequently Asked Questions
Forex trading has largely popularized and expanded in the past couple of years, as more and more countries are trying to include their citizens in the global traders’ community. Bitcoins and their unique characteristics had caused a lot of changes in the currency exchange rates and general confusion when the currency appeared for the first time. In this line of thought, we have provided you with the answers to some of the most common problems which trouble current and potential traders.
How do you determine the value of bitcoins?
The main problem is the fact that bitcoins don’t exist in real life. Of course, you can most certainly keep 3 or 4 bitcoins in your e-wallet, but those are actually just strings of code, with no actual dimensions. This makes it difficult for people to understand it and use it completely.
What is the current value of one bitcoin?
Which are the most influential factors which determine the bitcoin’s value?
How are bitcoin operations regulated?
This decentralized approach makes the transfer process even easier because there is no middle organization which usually needs more time to process the transfer and charges a certain fee for doing that.
What leverage do Forex brokers offer to bitcoin trades?
Do I have to pay any fees for bitcoin Forex transactions?
If there is no central regulatory body, then how is security handled?
Additionally, there might not be a central institution, but there is a group of extremely knowledgeable developers which maintain, monitor and improve the overall bitcoin system.
What are the greatest risks for Forex traders using bitcoins?
How do I get a bitcoin?
Where should I keep my bitcoins?
Bitcoin Forex Trading – Legal or Not?
There are many factors which need to be reviewed in order to determine whether or not bitcoin Forex practices are legal or not.
Primarily, various countries have their own opinion on the matter. Most Western European countries for instance, have completely legalized Forex and allow their citizens to speculate on the foreign exchange market for a profit. Others are more reluctant when it comes to changes and innovations, which is why they tend to maintain their rigorous anti-money laundering policies. Ultimately, these actions are more harmful for these countries than they are for the liberal ones.
On the other hand, bitcoins managed to shake the world of finance even though they have even less regulations than Forex. Once this is fixed, bitcoin Forex is definitely going to expand even more.