Trading FOREX using Bitcoin can give traders with plenty of benefits. This is exactly what we will be focusing on today. Having said that, if you are reluctant whether to take your trading skills to Bitcoin or not, then this article is just the thing for you.
One of the biggest benefits of trading FOREX with Bitcoin is the fact that there’s no central bank that randomly change the valuation of Bitcoins. This is primarily because of the decentralized nature it has. Rates for Bitcoin are free regardless of your location and economy.
Majority of the FOREX brokers are offering high leverage that range up to 1:1000 for bitcoin trades. Seasoned traders may make use of this to their advantage.
On the other hand, this level of high margin must be approached as well with extreme caution because they are magnifying the potential for loss.
Eliminates Transaction Costs
The great thing about Bitcoin transactions is the fact that they are recorded digitally on public networks without the involvement of clearing agencies or banks. Hence, there are often no involved transactions costs in Bitcoin, even for making global transfers.
Brokers then pass these benefits to their clients by means of not imposing fee on deposits or withdrawal for any Bitcoin transactions.