Bitcoin, the first and largest cryptocurrency, is one phenomenal instrument to trade. It is critical, however, to only trade bitcoin with a well-established forex broker. The following advantages of reliable forex brokers will give you the edge in your bitcoin trading:
- Superior execution speeds
- Deep liquidity pools
- Reliable and smart order execution
- Regulated and fair dealing
- Various order types
- Dedicated customer support
- Robust and proven trading platforms
- Infrastructure redundancy – hardware, software, and connectivity
- Easy account opening, deposits, and withdrawals
Why Trade Bitcoin?
Bitcoin has grown exponentially since its creation and implementation in 2008/2009 and has been an incredible instrument to trade, offering unheard-of returns. Besides offering magnificent returns on investments, trading bitcoin presents these advantages:
- Largest market capitalization among cryptocurrencies
- World’s most liquid cryptocurrency
- Regarded as a dynamic safe haven asset and hedge against central bank and fiat currency failure
- Excellent way to diversify investment portfolios
- Traded even when other markets are closed – 24/7, 365 days a year
How to Trade Bitcoin – A Flash Guide
Bitcoin is traded on the above-mentioned forex brokers’ trading platforms with CFDs (contracts for difference). It’s just as easy and efficient as trading forex pairs, commodities, and stocks. You can also use stop loss, take profit, and all the other entry orders offered by these brokers.
Because of its volatility, bitcoin is best traded by using low leverage, if any. Although the buy-and-hold trading strategy has yielded exceptional results since bitcoin was first traded, other shorter-term trading strategies can also be implemented. You should read ‘How to Trade Bitcoin – A Beginner’s Guide’ for in-depth information about this incredible financial instrument.
This is how to choose the best cryptocurrency broker to suit your trading needs.
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