Trading in Bitcoin
Any person who has exchanged one currency into another, let’s say Euros into Dollars, knows that most would expect the rate of exchange to be very similar and almost equivalent most of the time, and, taking that into consideration it’s that much easier to understand the popularity Bitcoin is enjoying at the moment. The value of one bitcoin, the best Bitcoin rate, is currently over $2,400. So, if people are wondering, it is, indeed, a good time to opt in on the cryptocurrency trade.
Getting rid of fees in exchange rates is but a single feature that is of massive appeal of digital cryptocurrencies like Bitcoin. Not only middlemen in the form of credit card companies or the irking nature of PayPal’s retention of assets in transaction fees. Annoyances of trading for each trip on holiday; it’s really all a thing of the past when there’s a readily available global currency.
More importantly, and more appealing to some in this era of leaks, hacks and rampant identity thefts, Bitcoin has an anonymous nature. So a person looking to sell Bitcoins in India through a Bitcoin exchange in India, could, very well, end up trading with another in Brazil if they can’t find (or don’t want to find) someone in their direct vicinity to trade with.
However, there is a major risk for Bitcoin. The price fluctuates so heavily, so quickly that it does put a lot of people off, since everywhere in the world people pursue stability and reliability as their very first economic goal, and people trying to achieve that thing might be put off by just how volatile the valuation of Bitcoin rises and falls sometimes, at times doing it quite dramatically.
In the case of people seeking a more user friendly interaction, Bitcoin exchange services like Coinbase would probably be ideal as it’s through it’s smartphone app. Akin to online & mobile banking, through this, you can buy and sell and monitor transactions while you’re out and about. Coinbase is a service that, if you wouldn’t want another third party to be granted access to your assets, you would probably be quite happy with.
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