ForexSecret123 (22)

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Trading Forex With Bitcoin How Does It Work?
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ABOUT Bitcoin

• Bitcoin has evolved in recent years into a
  speculative investment for individuals seeking
  alpha from alternative assets and a possible
  hedge against global uncertainties and weakness
  in fiat currencies. Bitcoin (BTC) is a digital
  floating exchange that is pegged to the U.S.
  dollar like in foreign exchange (forex). However,
  unlike gold, there is no underlying physical
  asset on which one can base the price.

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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
  officials.

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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, like the
  Swiss National Banks decision to unpeg its
  currency from the euro earlier this year, can
  create significant swings in currency prices.
• 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.

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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.
• the functionality of 1Broker may have legal
  implications for Americans given the fact that
  contracts for difference (CFDs) are not allowed
  in the United States.
• 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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