Trading Forex with Bitcoin

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Trading Forex With Bitcoin How Does It Work?

• THE FOREX SECRET

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Is Bitcoin a Currency?

• The debate over whether bitcoin should be
  considered a legal tender has accelerated in the
  wake of the high-profile attack of Japanese
  exchange Mt. Gox and the widespread adoption of
  it in payment processing at major U.S. retailers.
• Unlike the U.S. dollar, the Chinese yuan, or the
  euro, bitcoin is not recognized universally as a
  currency by every participant of the global
  markets, including regulators and government
  officials.
• The growth of bitcoin trading has created a
  multi-billion industry that allows individuals to
  buy or sell the cryptocurrency across a large
  number of exchanges.

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Bitcoin Trading Versus Forex
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• Bitcoin is not subject to the supply uncertainty
  created by international central banks. Bitcoins
  are mined at a predictable rate, while unexpected
  shifts in monetary policy.
• Bitcoin value is linked to the fundamentals of
  the cryptocurrency ecosystem, while forex matters
  are tied to the economic decisions and conditions
  of an individual nation and its currency.
• The greatest difference between Bitcoin and Forex
  is the matter of liquidity. Global currency
  trading is a 5 trillion market, compared to a
  bitcoin market valued in the billions.

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Trading Bitcoin on Forex

• A number of forex brokers like Bit4X and 1Broker
  state that individuals can deposit, withdraw, and
  trade on a bitcoin-based account. 
• Other forex brokers have said they can include
  bitcoin trading into their platforms, but given
  that they are not BTC-based and trade other
  currencies.
• According to the investment bank, 80 of bitcoin
  volume is exchanged into and out of Chinese yuan.
• Forex platforms grow more robust in their bitcoin
  offerings, investors are better off working with
  bitcoin-based exchanges that trade in their
  national currencies. 
• In order to purchase bitcoins, users must create
  a bitcoin account and initiate a transfer of
  money into the account every time they want to
  purchase a bitcoin.

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