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Anyone Using Bitcoin Brokers?
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mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jun 16 2017 at 10:49
TiffanyK posted:
Is this real? Right now in Japan you can use Bitcoins as a second currency like the Japanese Yen? Wow... Hard to believe this.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.


Japan passed some legal amendments last year which only came into effect this April, legally classified Bitcoin as a recognized method of payment. (https://smnweekly.com/2017/05/03/japanese-forex-brokers-jump-on-exchange-bandwagon-as-bitcoin-price-hits-historical-high/) Since then Japanese retailers have slowly started accepting Bitcoin as a “proper” currency. According to some estimates, by this summer over 260 000 shops in the country would start accepting Bitcoin as payment.

TiffanyK

Member Since Feb 12, 2016  380 posts Tiffany (TiffanyK) Jun 22 2017 at 15:15
Wow. I thought they were only speculating with BitCoin... Japan is a really exotic country, but very smart also. Great stuff

Accept the loss as experience
xgavinc

Member Since May 11, 2011  235 posts xgavinc Jun 23 2017 at 08:43
TiffanyK posted:
Is this real? Right now in Japan you can use Bitcoins as a second currency like the Japanese Yen? Wow... Hard to believe this.
My broker recently launched CFDs on BTCUSD and BTCEUR pairs. So I will look more onto this in the future.


Yes, India has also just legalized Bitcoin. There are also Bitcoin ATM's worldwide (https://coinatmradar.com/countries/).

I am currently just mining crypto currencies and will trade one on one with companies and people, exchanges and crypto trading sites (not CFD's) right now are not stable in my view.

For every loss there should be at least an equal and opposite profit.
mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 28 2017 at 14:22 (edited Jul 28 2017 at 14:23 )
Forex brokers have started accepting Bitcoin, both as a payment method and a trading instrument. While the former is a good sign for crypto currency enthusiasts, the latter may create an issue. It essentially makes forex brokers compete directly with the established crypto-exchanges. I think that when it comes to trading cryptocurrencies one has to be aware there are some differences between using a Forex broker and a cryptocurrency exchange. (https://www.forexbrokerz.com/news/bitcoin-forex-brokers-compared-to-bitcoin-exchanges) And they should take that into account when deciding how to trade bitcoin.

snapdragon1970

Member Since Sep 12, 2015  1825 posts kieran (snapdragon1970) Jul 29 2017 at 17:13
Goldman sachs have been in talks before about using Bitcoins, some would like to brush in under the carpet but its just getting more popular, very interesting currency ,traded Litecoin which was more stable, see Ripple,Dash,NEM,Ethereum added recently.

"Mistakes are the portals of discovery",James Joyce.
leo23

Member Since Oct 12, 2016  348 posts leo23 Jul 30 2017 at 06:49
Yes, we are also mainly focusing on cryptocurrencies. As we have posted in one of our threads, there is a lot of money to be made in cryptos in the future since it is just beginning of cryptos where Bitcoin has proven its potential.

This is a good thread for crypto lovers. Now, the entire forex money will slowly start moving to cryptos and it may take long time of 10 to 20 years for the cryptos to become as large as forex, but it will be.

There are more and more brokers accepting cryptos for deposit and withdrawal as well as allowing trading with cryptos in mt4.

If anyone knows any more brokers who offers crypto trading in mt4 with low spread, then please post here.

snapdragon1970

Member Since Sep 12, 2015  1825 posts kieran (snapdragon1970) Jul 30 2017 at 13:43
Its a bit late getting into Bitcoin ,better to trade one of the newer crypto currencies.

"Mistakes are the portals of discovery",James Joyce.
leo23

Member Since Oct 12, 2016  348 posts leo23 Jul 31 2017 at 06:31
As some of your probably know that the BTC price is expected to hit at least 50,000 per BTC and hence, trading with BTC is never going to be late.

mlawson71

Member Since Dec 11, 2015  1486 posts mlawson71 Jul 31 2017 at 14:14 (edited Jul 31 2017 at 14:15 )
If you are trading bitcoins also keep in mind that the long-awaited bitcoin fork is coming on August 1st 2017 (i.e. tomorrow).The fork implies a new crypto currency, called Bitcoin Cash (BCC or BCH), will be created. In theory, you should receive one additional token, for each bitcoin you currently own. The word own is really important, as ownership in the crypto world is a bit more complicated. Some e-wallets and crypto-exchanges will support newly created coins, while others will not. (https://www.forexbrokerz.com/news/which-exchanges-will-support-bitcoin-fork)

snapdragon1970

Member Since Sep 12, 2015  1825 posts kieran (snapdragon1970) Jul 31 2017 at 19:06
Notice Litecoin is up 5% today ,maybe some Bitcoin switching ahead of tomorrow, can't see any price dip for Bitcoin tomorrow, most are in it for the long term.

"Mistakes are the portals of discovery",James Joyce.
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