Benefits of Trading Bitcoin
Wherever you are, once you have an Internet connection and some disposable income, you can get involved in bitcoin trading. The Bitcoin revolution has broken down global barriers in the exchange of value and has made the global economy a more inclusive space. The low entry amount (of only a few Euros/dollars etc.) offered by some exchanges makes bitcoin an accessible asset.
You don’t have to buy a whole bitcoin to get started. One bitcoin can be divided into 100 million parts (0.00000001 BTC). The smallest unit of bitcoin is called a “satoshi”. You can start by buying a small amount of bitcoin and practicing in order to familiarise yourself with the process. On top of the low entry level, exchanges do not usually charge excessive fees. Other than that, your transactions just need to include basic mining fees.
Furthermore, there is no central authority involved in the issuing of bitcoin. New bitcoin is generated and awarded to the miner that found the new block of bitcoin transactions. A process called “halving”, detailed in the Bitcoin protocol, ensures that the block reward for miners is halved every four years. With its finite supply and the strict limits on the generation of new bitcoin, you can be sure that the market won’t suddenly be flooded with new coins as can be done with traditional currencies.
In conjunction, bitcoin’s decentralised nature ensures that its price cannot undergo revaluation by certain individuals, but instead as a consequence of the market as a whole, following the laws of supply and demand.
The volatility that bitcoin experiences as it gains popularity makes it an attractive investment and trading opportunity. There is strong potential to make high profit margins while trading bitcoin. Nonetheless, it’s also essential to consider potential risks within the overall realm of trading.
If you are interested in trading bitcoin, you’re welcome to open an account with Markets Pilot today, click here to learn more.