When I wanted to start trading Bitcoin I spent a lot of time actually trying to find services that would allow me to deposit money and turn that money into Bitcoin. There are many international sites and dodgy looking websites so I did a lot of research prior to getting involved.We’re dealing with cold hard cash here – so it’s best to be safe than sorry.Best Bitcoin Exchanges in the World For Trading Bitcoins.
10 of the Best Bitcoin Exchanges
There’s a lot to love about Binance, and many traders continue to be upbeat about the service. Low fees, a responsive exchange, and developers with a proven track record leave most people beaming. Binance has generally been considered a comprehensive success in its short life so far.With more than 1500 cryptocurrencies and +200 cryptocurrency exchanges to choose from, it can get traumatizing to choose the right ones.
Coinbase, available to users in over 30 countries as of 2017, is the world’s largest Bitcoin broker. Customers can buy bitcoin with a connected bank account, SEPA transfer, Interac Online, and many more payment methods.
If you are looking to trade Bitcoin spot and futures markets with up to 100x margin, this might be the platform for you. Liquidity is high and the UI is laudable in comparison to most of the current competition. Management takes a security-centric focus which is a must in the crypto space.
Europe’s leading retail exchange for buying and selling cryptocurrencies like Bitcoin, Ethereum, Ripple and more. Fast, secure and 24/7.Buy Bitcoin, Ethereum, Ripple and more within minutes.Getting started on Bitpanda is easy, fast and secure.
Established in London in 2013, the leading cryptocurrency exchange offers Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash, Dash and other trading options.
Trusted by over 1,000,000 people across 188 countries since 2013.Coinmama accepts credit & debit cards from all countries around the world (over 180 nation states). This is a significant advantage compared to larger exchanges such as Coinbase or Bitstamp.
It is safe and easy to Buy Bitcoin with credit card from PayBis. Exchange is instant, all major credit cards are accepted: Visa, MasterCard, etc.Get your first Bitcoin, Bitcoin Cash, Litecoin or Ethereum in just 15 mins with Paybis!
Buying bitcoin directly from other people makes it even simpler. Just sign up and buy right away. You pay sellers directly from your personal accounts.
Buy Linden Dollars and more. Pay in EUR, USD, CHF or GBP. Trade BTC, SLL, C$ & OM¢. Secure payment methods. Current exchange rates.VirWox is a time-tested virtual currency exchange with a key point of difference: you can buy bitcoin through PayPal.
Buy and exchange any cryptocurrency instantly: Bitcoin, Ethereum, Litecoin, Ripple and 700 other digital currencies with Visa & Mastercard.
Trading Platforms for Trading Using Bitcoins
If you’re looking to get involved with trading bitcoins, then you will need to find a good trading platform. Bitcoins have been around for a fair while now but in terms of currency they’re still relatively immature. Indeed, they are actually a relatively new and unusual currency, and they are still maturing. The bitcoin marketplace is not regulated because it is completely decentralised and because transactions that take place using it are untraceable.
Bitcoin is exceptionally volatile – its movements are more like those of a commodity than of a currency. If you were to get started on a trading platform (many platforms, including general currency ones such ash UFX accept bitcoin transactions), then you would notice that the movements are huge. Using margins on a bitcoin trade could net you massive financial gain, but it could also put you in a position where you stand to lose a huge amount of money – more, even, than you put in the account in the first place.
This is why you need to be careful when you trade bitcoins. Small trades on an exchange where you take a spread yourself are OK, but using a broker to essentially day trade it can put you at huge financial risk. Only do so if you re willing to be mindful of those risks, and to put in only the amount that you know you can afford to lose.
Look for established trading platforms. For a long time, Mt. Gox was the de-facto latform for trading bitcoins but others have started to become popular in recent years. Choose one that offers easy transfer to a cloud wallet, and that will let you cash out to cold storage if you really value the privacy and offline element of having a wallet on your own hard drive.
Can You Make Money if You Trade in Bitcoins?
More and more people are opting to trade in bitcoins as a way of making money. You can do well with bitcoins if you are smart, but a lot of people make the mistake of trying to get into mining now – even though they have, quite clearly, missed the boat on that as a moneymaking option.
Bitcoin is a currency, but in many ways it works like a commodity – and a finite one at that. There is a limit to the number of bitcoins that could ever exist, and since bitcoins can be destroyed (if the wallets are deleted, then the coins are gone forever), it has a scarcity that currency does not. In addition, people trade on it speculatively, considering not just how it is used now, but how it could be used in the future. You can spend, save and invest bitcoins.
So how can you make money with bitcoin? Well, if you take part in exchanges, and have a spread, then you can make money that way. When you are working with Bitcoin you need to remember that it is highly volatile. It started out near-worthless, and went from $2 in 2009 to more than $1,000 today (having peaked at a value even higher than that in 2013!). It can move by hundreds of dollars of value over just a few months. So, you don’t want to sit on large stashes of bitcoin unless you are willing to take the risk of losing that money. It’s better to do short term trades – arbitrage, or buying and selling on busy exchanges with higher liquidity, because the risk that you face there is a lot lower, and your spread will act as a bit of a buffer if things go wrong.
Using Bitcoins for Forex Trading
More and more people are discovering the flexibility, power and anonymity of using bitcoins. If you have ever wanted to try trading currency online, but you’re not comfortable with hooking your bank account up to a broker, or you want to trade anonymously for whatever reason, then depositing bitcoins to trade in forex could well be the answer.
To use bitcoin, you need a wallet. The wallet can be kept in “cold storage” on your computer, or it can be stored online, in “the cloud”. Cold storage is more secure (you only go online when you need to use the wallet, so there is less chance of getting hacked), but it has some problems – for starters, if you lose the hard drive or it becomes corrupt, you lose the money.
When you go to deposit bitcoins to trade with forex, you are sending them to a broker’s wallet, and they are stored in that account. Bitcoins are highly volatile. Their value moves more like a commodity than that of a currency, changing by hundreds of dollars per coin over a period of just a couple of months. This is something that you need to be aware of before you use bitcoin as a trading mechanism. If you are slow with the trade, or make a bad call, you could end up in hot water. This is especially true if you use extensive leverage – you could end up making huge gains, but you could also lose more money than you actually have in your account!
So, before you start trading, make sure that you understand exactly what you are doing and what the risks are. Only trade with money that you can afford to lose, and be careful with each trade. Don’t let emotion get in the way.
Bitcoins and Forex A Simple Guide
Forex trading is nothing new, but Bitcoins are something that are still maturing, and this poses some interesting questions. For many people, the idea of using bitcoins to trade forex is hugely appealing. When you look at a bitcoins-forex guide, you’ll see people talking about a lot of benefits – anonymity being one, flexibility to trade in micro-units with alternative brokers and more unusual currencies being another.
But there are many risks with this kind of trading. Firstly, while bitcoin is very popular in a lot of countries, and this means that you can get some great deals if you can find somewhere that has people relying heavily on it (countries with strict banking restrictions, or ones with highly devalued local currencies spring to mind), it is a volatile currency, so you stand to lose a lot of money if anything happens regarding exchanges or blockchains.
In addition, bitcoins aren’t regulated. This is both a benefit and a curse. In theory, it’s peer-managed, and this adds checks and balances, but there have been flaws found in the blockchain mechanism before. Also, if you lose your wallet, you lose your currency, just like in real life.
Don’t let those things deter you though. If you’re looking for ways to use bitcoins to trade forex, there are options out there. You can use popular exchanges for some basic trading – setting yourself up as a broker with a decent spread and build up a reputation with some self-funded trades. Essentially, you’re cutting out the broker because people are trading directly with you – and therefore you control the spread and you get to make the money. It’s a simple and effective way of getting the currency that you need. The risks are huge, though, so think carefully.