Bitcoin- the Standard Traders

Bitcoin- the Standard Traders

A stock market is a place where stocks are traded or exchanged. Investopedia explains it as a collection of markets and exchanges where the issuing and trading equities bonds.

Trading keeps the economy moving; normally we can see the traders are using sovereign currency as payment. However, we can see virtual currency is also used for trading. Today, no longer limited to just trading stocks, we have more selections, such as cryptocurrencies and Forex. To know more the basic and main assets to choose from continue reading which can benefit a trader.

CryptoCurrencies

Trading cryptocurrencies have become more popular nowadays. In fact, you can see people who used to trade stocks have switched on to trading cryptocurrencies. Cryptocurrencies like Bitcoin can be very lucrative, for example, if you had invested $400 in Bitcoin way back in 2009 you would have been a billionaire by now. That’s how trading with Bitcoin works.

The fact is the normal price for cryptocurrency will increase 1000% more in a short span of time. The price of cryptocurrency can increase to 100% in a weeks’ time, that is one of the reasons that people are keen to learn more about this market.

Forex Platform

When it comes to online trading, Forex needs no introduction, it refers to the exchange of foreign currencies, as the price fluctuates against other the trader can make a profit. Forex is known as being the largest and most liquid market in the world. Its daily trading volume is more than $ trillion.Indeed, it is the biggest and most active market in the world.

Life of A trader

As a trader, you get to be your own boss, you are responsible for everything. You make your own decision and nothing will happen unless you do something. Trading Bitcoins is completely transparent, the details of all transaction are stored in one online ledger called blockchain, hence the trading is very secure. Bank transaction can cut up to 10% of your money but bitcoins don’t charge for such.

There are several other reasons for trading

It is noninflationary. Unlike conventional currencies that can trigger inflation if there is excess in the economy. bitcoins doesn’t trigger and the value remains the same. You own your bitcoin account, other electronic payment organizations are owned by some organizations and hence that organization has the right to freeze your account. But in the case of bitcoin, you are your own boss so no one can freeze your account.

Having the single medium of exchange will help the size of the economy to grow as willing a large number of traders to use the medium of exchange. The larger the size of the economy the larger the opportunities for gains from exchange and specialization and perhaps, the longer and more sophisticating the trade can be for traders.