Traders looking to trade Bitcoin as part of a forex pair are in luck. Leading broker BDSwiss have introduced Bitcoin forex pairs that include the cryptocurrency alongside USD and EUR. These can be traded in the same way as any other pair.
Bitcoin has been available to trade at a number of brokers. Traders have been able to take advantage of the volatility associated with the crypto currency for some time. Now however, BDSwiss have taken the asset a step further;
Bitcoin Live Chart (5 Minute)
Trading USD Or EUR With Bitcoin
BDSwiss now offer traders the ability to pair Bitcoin with major currencies – the US Dollar and the Euro. While trading the value of Bitcoin allows traders to take a position on the growth of the cryptocurrency itself – they can now also place calls or puts based on other currencies.
In addition to the extra choice and trading potential, this new feature also provides another interesting benefit – leverage.
Binary options are a fixed risk investment. They are also fixed payouts. Trading Bitcoin via forex however, offers traders the ability to use leverage. So large price movements in the asset can mean large profits – though the risk is increased too.
The Bitcoin pairs have been added across the BDSwiss Webtrader platforms – both CFD and Forex. They have also been added to the Metatrader 4 platform that the firm integrate.
With this offering BDSwiss hope to steal a march on some of their rivals. Competition in the finance sector is always fierce and new products are one way that brands can jump ahead. Bitcoin has seen huge growth, both in terms of value – but also in terms of interest.
Future of Bitcoin
No longer simply a novelty, Bitcoin has surged 200% this year. Both Bitcoin and other cryptocurrencies are making headline news weekly. It threatens a huge disruption of the banking market globally and could revolutionise economies.
Will such a threat be tolerated by governments? They are currently able to exert some control on their own markets through interest rates, or printing money for example. Bitcoin however, has no “master” – and this presents a huge risk to established economies. At what point might they step in, if at all?
Bitcoin is here to stay, but how far away is the backlash? We can only guess, but in the meantime, traders can take a view in a new an exciting way at BDSwiss.
Read More in the BDSwiss review