Oct 01, · Bitcoin can be transferred from one user’s wallet to another. Therefore, forex brokers who accept Bitcoin will be required to accept deposits by having the trader transfer . Bitcoin Forex brokers started accepting BTC as a valid form of payment back in and have also enabled traders to trade bitcoins against other currencies such as the Euro and the US Dollar. The concept of bitcoins is relatively new, and there are only a few Forex brokers in the world that accept bitcoins. Normally, it is easier to fund a Forex trading account using other payment options, but traders usually prefer bitcoins . Jun 22, · The rising recognition of bitcoin as an alternative investment asset has spurred many forex brokers to integrate bitcoin into their propositions. Much recently, a lot of forex brokers have started accepting bitcoins for forex trading. Some are even accepting additional numbers of digital coins. Some forex brokers integrate bitcoin as one of their forex trading deposit and withdrawal options.
Forex broker deposit bitcoinForex Brokers That Accept Bitcoin Deposit in - Forex Rank
If so, which do you recommend most and why? During my trading career, I used all of them but Grand capital and Liteforex.
Picking a broker depends on many factors such as your country, your trading strategy, your deposit amount, and some others. Some of them are slightly better than others in that case.
Save my name, email, and website in this browser for the next time I comment. Skip to content. You'll See in This Article:. My name is David and I've been in Forex Market since I created this site to convey my experience and try to help forex traders to make better decisions. Share this post if you liked it and let me know what you think about it in the comment section.
Share this with your friends Share this content Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window. Devanand Singh 14 Oct Reply. Leave a Reply Cancel reply Comment. Enter your name or username.
Enter your email. Enter your website URL optional. Search for: Type text and hit enter to search. Close Menu. Visit Hotforex.
Visit FXChoice. Visit Coinexx. Visit FXTM. Since banks and governments have no control over Bitcoins, numerous people like this decentralized aspect of the coin. However, you can mistakenly delete your Bitcoin wallet and lose your coins forever. Many Bitcoin holders have lost their coins due to activities of hackers on the platforms where they stored their digital money.
Forex trading is commonly done over-the-counter in a decentralized system similar to Bitcoin and other cryptocurrencies. In spite of these similarities, they are not the same. While forex pairs traded in the forex market are backed by central banks across the world, the situation is different with Bitcoin or other digital currencies with only peer-to-peer governance structure. Many Forex trading brokers that support Bitcoin deposits offer high leverage ratios to their traders. Some of them can offer very high leverage ratios up to Online traders with experience could use this to their advantage.
Nonetheless, you should exercise caution because leverage is a double-edged sword that can magnify your gain and loss. There are no bank charges or agency fees in these trades whether international or local. Most online brokers equally let their work slide by as they charge you nothing for withdrawals or deposits. There are no boundaries when doing trades with Bitcoins as you can be in Australia and trade with someone in Africa. Do not forget that there are countries that forbid bitcoin transactions.
So, only go with what is permissible legally in your jurisdiction. There are several exchanges where you can trade forex with Bitcoins and their rates are different so you should get a full knowledge of this so that you do not make errors.
Try to find out from the Forex broker, the exchange rates they use on their platform before opening an account with them. A prevalent norm among many brokers is to convert the bitcoin deposited by traders into USD. Hence, you should be cautious when making such decisions so that you are on the good side when the rates are falling or climbing.
In the past, there has been a high display of volatility when it comes to bitcoin. Since there are no regulations, some brokers could use this to their advantage so that the trader is put at a disadvantage. Hacking is dangerous for Bitcoins and could make you lose your Bitcoin if your broker does not have insurance protection.
So, before trading, look for a broker who is regulated to guarantee the security of your funds. The system used for evaluating a cryptocurrency asset is different from the way forex assets are evaluated. When you talk about Forex trading, you are referring to the exchanging of global currencies and this is the biggest market worldwide.
With the introduction of Bitcoins and other cryptocurrencies, the Forex world has taken a new turn as top traders on that path have begun to cue into the cryptocurrency dealing. They now handle trades between Forex and Cryptocurrencies and this is a train you may want to hop onto too.
It is difficult to predict the rates when dealing with cryptocurrencies since there is no material platform that causes it to rise or fall like other currencies worldwide. Many keep amassing Bitcoins hoping it keeps rising and see it as a secure investment. Author: Mark Prosz. Skip to content.
Why Use Bitcoin? IC Markets. What is Bitcoin? Bitcoin is a cryptocurrency and virtual money generated on the blockchain. Why use bitcoin? How does Bitcoin work? How Can People Get Bitcoins? How are new Bitcoins created? Why do people want Bitcoins?