Bitcoin currency history: short review
In 2017 bitcoin cryptocurrency quickly burst into the lives of most of the world’s population. The entrance of bitcoin currency scene on the first stage was likely to provoke a wave of adding the crypto currency to its reserves by all the rest. In the process of trading bitcoin, you need to pay attention to the basic terms of trade. First of all, we note that a leverage of 1 to 10 is available this allows you to start working with a lower amount, or to get additional profit due to the increased volume of trade.
Spread and swap are next important parameters. Spread is the difference between the price of buying and selling. The easiest way to understand this term is by remembering the currency exchange office, where two prices are always indicated. A swap is called a fee for transferring the position the next day. Bitcoin swap is only 40 cents. If you look at the bitcoin graph for the whole time, you can highlight how this asset cyclically moves. His story knows a lot of ups and downs, and now we are definitely in the conditions of an uptrend. Since the beginning of the year, bitcoin has increased in price by 500% and has every chance to continue this trend. Many analysts have set a target value of $ 7,000 per bitcoin. Let us single out several reasons why we can see this value of the price.
- The number of transactions with bitcoins is growing at a fast rate. This is due to the fact that many large online stores have already begun or will soon start taking bitcoins as payment. The most interesting rumors concern the largest online resource Amazon.com, which will soon announce the beginning of work with crypto-currencies.
- In the coming months, the first ETF tool, based on crypto-currencies, can be launched within the US or Canadian stock exchange. Investors are waiting for a similar event for a very long time. The appearance of such an asset under the regulation of the SEC will allow large capital to invest directly and officially in bitcoin. This will provoke a sharp increase in its value.
- A special exchange for ICO and trade in tokens will also appear until the end of this year. Since the reputation of the ICO has deteriorated noticeably in recent weeks after the ban by China and South Korea, then with the advent of such an adjustable platform, the situation will dramatically change for the better.
Transition to the status of means of bitcoin currency exchange
In a society based on bitcoin currency trading and on barter. To find out what is cost of bitcoin you may use bitcoin currency converter. There everyone can find out how much, for example, is course such a couple as “bitcoin currency – euro”.
What is the process of buying and selling and what is bitcoin cryptography? There is nothing complicated here. In order to start trading, a person must, in the “Deposit” section of the exchange, replenish his own account using any of the proposed methods (banks, electronic purses, etc.). You can buy bitcoins in the “Buy / Sell” section. If you choose “InstantOrder”, it’s enough to make a quick purchase of the crypto currency, indicating how much you plan to do it. The exchange system will independently find the bitcoins at the cheapest price and complete the transaction. If you select “LimitOrder”, you will need to select the bitcoins for purchase yourself, analyzing existing offers. Sale works on a similar principle.
What to look for when choosing exchanges?
There are several factors that need to be addressed when choosing exchanges:
- Exchange commission. This is important, because the size of the commission will ultimately depend on your earnings. On most trading floors, the rule works: the percentage of commission is lower, the more purchases you make.
- Legality of the site. In some countries there is still no official permission to use crypto currency. In some its use is associated with certain rules and regulations. Always consider where the trading floor is located, which you plan to use.
- Check how much this or that bitcoin exchange cares about the safety of its customers. Otherwise, you risk losing your money at one time.
- On the site chosen by you, the jumps in the value of the crypto currency must be within the limits of the norm. If the indicators are too large, such a trading platform can not be called reliable.
The largest exchanges for bitcoin trading at the moment are such platforms as BTC-e, BitStamp, Exmo and a number of others. Of the popular modern sites, you can also pay attention to CEX.IO, founded in 2013. The exchange has a multi-functional platform, provides the ability to trade on market and limit orders. In 2015, the market also has a trading platform Livecoin, working with crypto-currencies. Its testing involved independent traders who recognized the exchange as convenient for work, comfortable even for beginners in this field.