BITCOIN VS FOREX
hello STEEMIT as I promised yesterday, I will share information about the difference of bitcoin and forex.
just go ahead
What is bitcoin?
Bitcoin is a type of electric currency crypto (cryptocurrency) which is currently widely used for online transactions and in tradingkan.
The history of bitcoin (from several sources), was discovered by Satoshi Nakamoto in 2009 but seems to have only begun to be widely used and traded since 2011.
At first Bitcoin emerged as a means of payment to cover the weaknesses of existing electric payment instruments, where bitcoin offers advantages such as:
transaction costs are very small, almost non-existent
faster delivery process
Anonymous (no owner identity required)
High security
Why is Bitcoin interesting?
- Modernization of payment methods
Before the presence of bitcoin, if we want to have an online currency we must perform several stages of account verification, so impressed Ribet. As for having Bitcoin it is not necessary. Bitcoin is considered easier and quicker to use for payment.
By its "anonymous" nature it makes the sender or recipient's identity unknown so as not to worry about identity theft
- The number of bitcoins is limited
It has been taken into account by the system that bitcoin will only be produced as much as 21 million BTC only. So if the future more and more people are using bitcoin then its value will continue to increase.
How is bitcoin getting started?
In addition to the advantages offered by bitcoin itself, it is undeniable that there are now many online goods and services stores that provide payments using bitcoin, so that many people are choosing to use payments using bitcoin.
Because not everyone can mine Bitcoin himself, then the market for bitcoin provision, as a place to buy bitcoin, where bitcoin price is determined by supply and demand. The change of supply and demand to bitcoin makes the bitcoin price move varies, until finally used by both investor and speculator to get profit. Until finally created bitcoin trade is more crowded as it is today.
What is the difference between bitcoin trading and forex trading?
For a trader, since the purpose of trading is to profit from the price difference, there is almost no difference. Bitcoin is just one asset to trade, as well as Gold, Oil, EURUSD and more. Bitcoin is just one option to trade.
Except in the investment context, an investor would exchange the money into bitcoin, to have the bitcoin physically, and expect the value to increase.
What bitcoin trading is more profitable?
Which is more advantageous between bitcoin and forex?
this is the comparison of forex trading with bitcoin trading
-What can be 100% profit in 1 transaction?
- Forex trading can generate 100% profit in 1 transaction, can happen in 1 day. Because the formula of the amount of profit is the point obtained X the value of perpoint per lot X number of lot transactions.
For example: initial capital $ 100, transaction volume 0.1 lot where the value per pointnya $ 0.1, and get 1000 points. This may happen because on average in 1 day forex charts can move above 1000 points
The risk: we can also lose 100% in 1 transaction if our analysis is wrong
- Trading bitcoin can generate 100% profit in 1 transaction, but it takes several days, weeks and even months. Because the movement of bitcoin is only an average of 5% -20% in 1 day. so profit 100% from one transaction can not be done in 1 day
The risk: loss is not up to 100%, the loss is only a few percent.
- Risk of losing money
In forex trading you can lose all your money, if your analysis is wrong
In trading trading bitcoin your money will not lose everything, because bitcoin value will not reach 0 (zero)
That is the main comparison of trading bitcoin and forex, others more in common.