Bitcoin Forex brokers started accepting BTC as a valid form of payment back in and have also enabled traders to trade bitcoins against other currencies such as the Euro and the US Dollar. The concept of bitcoins is relatively new, and there are only a few Forex brokers in the world that accept bitcoins. Normally, it is easier to fund a Forex trading account using other payment options, but traders usually prefer bitcoins . Dec 03, · Abbreviated to BTC in the forex traders’ parlance, this cryptocurrency is decentralized; that is there are no banks that carry the Bitcoin and there is no centralized exchange for this currency. However, there are some forex brokers that reimburse the fees of deposits and withdrawals. They do that as the bonus they provide to their clients — none in the table means that. Best Forex Brokers Accepting Bitcoin for Deposit and Withdrawal. Here’s a list of top 10 Forex brokers that accept Bitcoin for deposit .
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There are a few reasons that a trader may want to use bitcoin for deposit and withdrawal. One of the reasons that traders might choose bitcoin in particular or any other cryptocurrencies in general as the way of transactions to their brokers is that they are living in a country that there are some limitations for forex trading.
For example, if you live in the US, there are some rules and regulations that prevent or limit you from using some features or strategies. Forex brokers have a good reason for asking documents such as proof of ID or proof of address because their regulatory bodies request such documents because of preventing money laundry or anti-terrorism purposes. On the other hand, there might be reasonable arguments for traders reluctant to give such documents to brokers.
Although it might be the case when we are talking about new unregulated brokers, that barley happens in an unregulated broker that has been around for years and has a good reputation and almost impossible to happen in a well-regulated forex broker. The next reason that some people are willing to use Bitcoin for deposits and withdrawals is that they want to pay less for their transactions. As you know, payment options such as online payments, wire banks, or credit cards each charge a fee when you deposit or withdraw money.
Bitcoin is not an exception and when you deposit and withdraw, fees are charged. This is the explanation of Blockchain about the fees that are charged:.
However, there are some forex brokers that reimburse the fees of deposits and withdrawals. They do that as the bonus they provide to their clients — none in the table means that. Thank you. Have you used any of these services personally?
If so, which do you recommend most and why? This may be because of the volatility of the currency and the required anonymity of the Bitcoin transactions which may be a challenge as far as the compliance departments of the forex brokers are concerned.
However, there are exceptions here also. When there is a supply and demand for any currency, its value continuously moves up and down when many entities invest in the economy. The same is happening with Bitcoins now. Because of this more individuals are now buy, sell, or exchange Bitcoins in view of its demand. Because of this reason, many forex brokers have started accepting deposits and withdrawals from their clients using Bitcoins to cash in on this growing demand of the digital currency.
Forex brokers are also supporting cryptocurrency trades through mobile apps. The apps provide the latest and most vital data pertaining to the digital currency.
This helps the traders to derive the maximum benefit from trading the cryptocurrency online. Having discussed a few things about Bitcoins, here is some information about a couple of brokers that accept payments or withdrawals in this altcoin:.
The brand InstaForex was launched in Currently, the forex broker has more than 3,, customers. Further, over 1, customers open accounts every day. They enable ECN forex trading , contracts on derivatives and other instruments.
Many people call Bitcoin the currency of the future. It is definitely a revolution in the digital currency area because it can be transferred from one owner to another privately and without the use of a middle man. In terms of volatility, it is probably the most volatile product and thus was an excellent opportunity for Brokers to offer it as a trading product. Bitcoin has been under the spotlight for some time and finally some brokers have started to accept BTC as a valid payment method.
However, the base currency of a trading account will not be in BTC, so a conversion to USD or another broker supported currency will have to happen, and when withdrawing it there is a huge change of fluctuation. Therefore, you could profit or lose by simply depositing and withdrawing bitcoins. Forex Trading School Courses.
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