Bitcoin (BTC) Trading Made Easy

Bitcoin (BTC) in a Snapshot

• A digital currency that is created, used, and stored digitally.
• Completely transparent, transactions are stored on a giant ledger called the blockchain that can be seen by everyone.
• Based on an open-source protocol encryption network that is independent of any central authority.
• Transactions are fast, efficient, and secure.
• The market capitalization of more than USD140 billion.
• Maximum of 21 million Bitcoin in existence.
  *Based on Coindesk data dated 17 August 2018

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What is Bitcoin?

Bitcoin (₿) is a cryptocurrency – a form of electronic cash. It was designed to be a decentralized digital currency where users can send bitcoins directly to each other on the peer-to-peer bitcoin network. This eliminates middlemen such as central banks or administrators, canceling interest fees, and making transactions transparent.

It was first launched in 2009 by a person or a group that has since come to be known as “Satoshi Nakamoto”. The price of Bitcoin has come a long way since then, escalating from around US$400 in January 2016 to more than US$9,000 in November 2017.

Given its exponential growth over the past few years, Bitcoin has gained the nickname of “digital gold”, with many experts believing it to share many qualities with gold itself. The room for price fluctuation is a lot bigger, and even more frequent than conventional currency which implies attractive potential returns from trading it.

Factors Impacting Bitcoin CFD

The price swing of Bitcoin is quite similar to conventional currencies and how you can take advantage of it will depend a lot on your trading strategies.

In general, the value of Bitcoin tends to ebb and flow with news that surrounds it, more so if the news in question carries a negative connotations. With volatility a given in the Cryptocurrency market, it also means opportunities and also a risk for traders to leverage on its constantly changing prices.

As it is still a relatively new asset in the Cryptocurrency universe, it’s worth the endeavor to keep abreast of news that concerns Bitcoin.