Bitcoin is one of the newest forms of trading in our modern generation today. While there have been debates and arguments whether this should be legalized in all forms, the profit that it makes for traders and investors is genuinely evident. If you are considering to enter the bitcoin market, it is necessary that you are aware of some of the important things about Bitcoin. Knowing these things will help you in your very first trade and it will serve as your foundation in the future success of your trading.
There are several advantages of bitcoin amongst other financial instruments. Bitcoin trading is known to have a few barriers to entry. Bitcoin is not taxed by the government as it is not regulated by the central bank of a particular country. Hence, it is free from transaction and service fee. Moreover, Bitcoin is very much secured as it is enclosed in chain or codes so it will be protected from hackers.
As mentioned earlier, Bitcoin is not controlled and regulated by any government agency. Thus, its price isn’t directly related to the economy or policies of any single country.
It trades 24/7
Bitcoin is far different from stock markets because there are no official Bitcoin exchanges. But there are hundreds of exchanges that operate across the globe 24/7.
Bitcoin is popular for its fast and frequent movement of prices. Hence, bitcoin is not a competition like the stock market where you always have to look at the movement for you to sell and buy stocks.
It is no wonder why John Jansen who owns Deribit believes that the Bitcoin market is expected to grow and develop even bigger in the future. The future of money transaction will be online and Bitcoin will be the number one platform.