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Trading Forex with Bitcoin


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Title: Trading Forex with Bitcoin

Trading Forex With Bitcoin How Does It Work?
Is Bitcoin a Currency?
  • The debate over whether bitcoin should be
    considered a legal tender has accelerated in the
    wake of the high-profile attack of Japanese
    exchange Mt. Gox and the widespread adoption of
    it in payment processing at major U.S. retailers.
  • Unlike the U.S. dollar, the Chinese yuan, or the
    euro, bitcoin is not recognized universally as a
    currency by every participant of the global
    markets, including regulators and government
  • The growth of bitcoin trading has created a
    multi-billion industry that allows individuals to
    buy or sell the cryptocurrency across a large
    number of exchanges.

Bitcoin Trading Versus Forex
  • Bitcoin is not subject to the supply uncertainty
    created by international central banks. Bitcoins
    are mined at a predictable rate, while unexpected
    shifts in monetary policy.
  • Bitcoin value is linked to the fundamentals of
    the cryptocurrency ecosystem, while forex matters
    are tied to the economic decisions and conditions
    of an individual nation and its currency.
  • The greatest difference between Bitcoin and Forex
    is the matter of liquidity. Global currency
    trading is a 5 trillion market, compared to a
    bitcoin market valued in the billions.

Trading Bitcoin on Forex
  • A number of forex brokers like Bit4X and 1Broker
    state that individuals can deposit, withdraw, and
    trade on a bitcoin-based account. 
  • Other forex brokers have said they can include
    bitcoin trading into their platforms, but given
    that they are not BTC-based and trade other
  • According to the investment bank, 80 of bitcoin
    volume is exchanged into and out of Chinese yuan.
  • Forex platforms grow more robust in their bitcoin
    offerings, investors are better off working with
    bitcoin-based exchanges that trade in their
    national currencies. 
  • In order to purchase bitcoins, users must create
    a bitcoin account and initiate a transfer of
    money into the account every time they want to
    purchase a bitcoin.

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