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Bitcoin is a cryptocurrency, which can be spent, saved, or invested, and it can be stolen too. Trading with Bitcoins was considered to be risky, but the current trends show that it has become a big hit the binary options sector. This decentralized currency is not regulated by any Government, or by any central authority.

What determines the price of Bitcoins?

Bitcoin’s price is determined according to the supply and demand ratio. Price increases when the demand increases, the rates plummet downwards when the demand falls. Bitcoins in circulation are limited, and new ones are created at a very slow rate. Since it does not have enough cash reserve to move the market price, its price can be extremely volatile.

Bitcoin trading is popular because of –

• Low inflation risk – Inflation is the biggest issue for traders, because all the currencies lose some of their purchasing power when the reserve banks keep printing more currency. With Bitcoin minting system being limited to just 21 million Bitcoins, it hardly gets impacted with inflation.
• Low collapse risk – Currencies fluctuations depend on government trade policies, which at times cause hyperinflation, and even lead to the collapse of currency. Bitcoin is a virtual universal currency, which is not regulated by any government.
• Simple, safe and cheap – The Bitcoin payments take place between peer-to-peer without any intermediary, which is why it is simple and cheap.
• Easy to carry – Bitcoins worth million dollars can be carried in your pocket, in a memory stick. This cannot be done with gold or cash.
• Untraceable – Issuance of Bitcoin is not regulated by any government, so the risk of seizure is nil.

Binary options Bitcoin trading platform

Binary options brokers are getting familiar with popularity of these Bitcoins, and its constant fluctuating values. Therefore they are using this opportunity to offer traders with the latest volatile crypto-currency as an additional payment method. Bitcoin brokers providing crypto-currency as trading option include –

• One touch option – Bitcoin trading can be done with AnyOption or one-touch option. For example the current popular currency pair is BTC/USD.
• SetOption – The latest option available for asset trading is BITCOIN/USD.

Bitcoin brokers provide a simple trading online platform. All you have to do is visit their website, enter your details, and create an account. You can start with demo account to understand the market action.

The trading screen is simple.

• Pick the price direction (UP/DOWN)
• Select the timeframe

Is Bitcoin trading secure?

Bitcoin network is possibly the world’s vast spread computing project. The most common weakness here is the user errors. Bitcoin wallet files can get lost, stolen, or deleted accidentally just like any other files in the digital form.

However, users can use sound security strategies to protect their cash. Alternatively, you could choose the service providers who offer high-level security, as well as insurance against loss or theft.

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Source by Rajesh B Sanghvi

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Bitcoin Cryptocurrency is buzzing all over the world, whether you are on the internet or any media. It is one of the most exciting and craziest things happened that comes into existence in the last few years only. More importantly, you can earn an awesome return by bitcoins trading or you can keep it for a long term.

You may be heard about Stocks, Commodities, Forex, and now a new currency called Bitcoin trading that impacts greatly on our lives. In this beginner’s guide to Bitcoin cryptocurrency, you will get to know the A B C of Bitcoin.

About Bitcoin Cryptocurrency

The emergence of Bitcoin is still not known but a paper was published in October 2008 under the pseudonym Satoshi Nakamoto held from Japan. His identity is still unknown and believed to have approximately one million bitcoins valued more than $6 billion USD as of September 2017.

Bitcoin is a digital currency popularly known as cryptocurrency and is free from any geographical boundary. It is not regulated by any government and all you need is an internet connection. As a newbie, Bitcoin technology may confuse you and a little bit tough to know about it. However, I will help you dig it deeper and how you can also do your first Bitcoin trading at ease.

Bitcoin Cryptocurrency works on blockchain technology which is a digital public ledger and shared by anyone in the world. You will find your transactions here whenever you do any Bitcoin trading and anyone can use the ledger to verify it. The transaction done will be completely transparent and is verified by blockchain. Bitcoin and other cryptocurrency are the parts of blockchain and are an awesome technology that runs on the internet only.

Key Terms Related To Bitcoin Cryptocurrency

Before you ready to own your first Bitcoin, it is better to know the key terms related to bitcoins. It is also termed as BTC which is a part of bitcoin and 1 bitcoin equals 1 Million bits. With the emergence of bitcoins, some other alternative cryptocurrencies also evolved. They are popularly called Altcoins and includes Ethereum(ETH), Litecoin(LTC), Ripple(XRP), Monero(XMR) and many others.

XBT and BTC are the same things and commonly abbreviated for bitcoin. Mining is another term used a lot and it is actually a process done by computer hardware for the Bitcoin networks.

Things You Can Do With Bitcoin

You will be able to trade, transact, accept and store bitcoin. You can send it to your friends, request from a friend and store it in your digital wallet. Even, now you can top-up your mobile/DTH directly by paying through bitcoin.

Transaction cost is low as compared to PayPal, Credit cards, and other online intermediaries. Furthermore, it also protects your privacy that may get leaked on the internet while using credit cards. It is extremely secure and nobody can seize or steal coins. Due to its transparency in the system, it is also not possible to manipulate because of the shared public ledger. You can verify transaction from anywhere and at any time.

Demand is likely to rise as the total production of bitcoins is to be limited to 21 million only. Japan has already legalized it and other countries may follow it soon and the price may hike further.

I will be covering more on Bitcoins in detail in the upcoming days where you will learn great stuff of bitcoin trading. You can comment your views and ask anything relevant to bitcoins.

If you found this beginner’s guide to Bitcoin Cryptocurrency useful, then do share and like it on social networks.

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Source by Ratan Kumar