BitCoin in Forex Trading

[Decub]

@tray, sure, brokers who accept bitcoin accept it with other payment processors. The heck these days is not even in accepting bitcoin as a payment system but accepting it as a trading pair but as a commodity. On the area of availability, you can get it from some big exchangers. Even one of much local exchange usually have it.

 

[rohmatul]

Is bitcoin can be used for online shopping such as paypal??

 

[sindarin]

@rohmatul: That is depend on your shopping site, if your shopping site allow it then it is yes, but if not then it is not. As for trading, i think BTC is preffered as commodity also as we can see they have many same characteristic with commodity, and becareful with BTC if you trade, because BTC has higher volatility.

 

[Bonyi]

Bitcoin seem promising though i'm still trying to understand what it is all about.

 

[sindarin]

@Bonyi: yea it is actually promising for all traders that want to trade around the world, as you know that bitcoin is good for speculators since the price which is volatility which means could rise or drop, and i think it is better to think it as commodity.

 

[Decub]

Since the price of bitcoin is decreasing by the day, I'm sure it's not everyone that would be poised to deposit with it because of the continous drop in value. A lot of people had thought it would skyrocket in the near future but from the way it's going, I doubt that possibility again.

 

[barood4money]

Since the price of bitcoin is decreasing by the day, I'm sure it's not everyone that would be poised to deposit with it because of the continous drop in value. A lot of people had thought it would skyrocket in the near future but from the way it's going, I doubt that possibility again.

I don't have that much idea about the bitcoins. If the price of the bitcoin is decreasing day by day then really there is no chance of gaining popularity of using bitcoin at trading. Because as the expenses is going up day by day, everybody's expectation is also increasing day by day.

 

[anosocialnet]

Is bitcoin can be used for online shopping such as paypal??

If you are already a Blockchain user, you can find site you can shop from, right inside your wallet. And just like @sindarin told you, it depends on the shopping sites you intend to shop from, if they accept Bitcoin of not. Anyway i wonder how Bitcoin can be traded with it's high volatility in the Market.

 

[sindarin]

Since the price of bitcoin is decreasing by the day, I'm sure it's not everyone that would be poised to deposit with it because of the continous drop in value. A lot of people had thought it would skyrocket in the near future but from the way it's going, I doubt that possibility again.

As long as speculators still playing inside the price of bitcoin will always be rise, i think about that decreasing, that is because bitcoin starting more and more liquid rather than before. In forex trading only few of traders that trade them compare to people who trade it with EURUSD or even XAGUSD.

 

[Decub]

As long as speculators still playing inside the price of bitcoin will always be rise, i think about that decreasing, that is because bitcoin starting more and more liquid rather than before. In forex trading only few of traders that trade them compare to people who trade it with EURUSD or even XAGUSD.

But we can't be too sure about that because right now, the price of BTC has refused to come even close to $500 for some time now and I think a lot of people might not be that interested in it.

 

[sindarin]

But we can't be too sure about that because right now, the price of BTC has refused to come even close to $500 for some time now and I think a lot of people might not be that interested in it.

Since the increasing of BTC that circulated so the price also affected and getting lower, right? Bitcoin in forex trading will happen but i am afraid it won't be adopted by big broker such as FXDD or IBFX.

 

[sindarin]

Bitcoin in forex trading right now is too much, i know there won't be no one that control it but it still risky, since the rate is too much volatile and even more than gold. Second, it is unstable even still usable, people's trust is not that much to Bitcoin rather than USD or other conservative currency.

 

[budado]

Bitcoin is more as a processor that a currency that we can trade in forex. In the first place theirs no country that uses bitcoin as their main currency and its not economy driven so theirs no way we can trade using this to pair with other currencies.

 

[sindarin]

I think it more as commodity, and trade commodity in forex especially in spot,is not a big problem. Trader can do it anytime and anywhere they want as long as that commodity still exist. As for bitcoin. i see it is like gold but in different cases.

 

[budado]

Commodity do have some usage but bitcoin don't. You can't eat it or hold it. Its just an electronic records and not a physical thing that we can keep. So its not a commodity. Since commodity is things that we can use on our daily lifes.

 

[Babar222]

Bitcoin is gaining more popularity as a new electronic currency in the world but i think it is still very far away to make it official currency of every country. But yes Bitcoin can be use also in Forex trading if all the major countries accept it.

 

[Decub]

That's right, another thing is the rate of fluctuation these days. I know the value of BTC to a dollar some couple of months ago was less than 500, right now, the value of the same cryto has gone as high as 657 and still rising. It has become one of the most unpredictable type of currency with a lot of margin in fluctuation.

 

[budado]

To be honest I visited BTC site many times but I still don't understand how this works. I don't feel comfortable with BTC sets up that's why I don't know how to trade this also. If I have good understanding then I will surely going to use this one also.

 

[sindarin]

Commodity do have some usage but bitcoin don't. You can't eat it or hold it. Its just an electronic records and not a physical thing that we can keep. So its not a commodity. Since commodity is things that we can use on our daily lifes.

This is depend on what do you mean as commodity,if you want then google/bing what Bitcoin defined in Finland, and also we can use BTC in daily life, i can buy something with bitcoin and even exchange it with real cash.

 

[Ericthai]

I don't find Bitcoin as a dependable currency or shall I say a tool... it's too risky for the trading and can up/down by a large margin in a matter of hours only.