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Hello All,

Even though crypto currencies is becoming more and more popular many forex brokers still does not support BIT coin Trading. I have seen only few brokers supports BTC trading . AVA tradefx , is one such broker. But what i really want to ask is can we open a position in BTC to buy 1 BTC and hold on to the trade in the forex account as long as i like. Since i has gone up to 1000+ in 2013 will BTC reach this level again. If so how much money i need in my account to make such trade?

 

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Can you elaborate this?

 

"since i has gone up to 1000+"

 

You mean that your BTC skyrocketing around that much? If yes then it means you are a filthy rich people now. By the way, i see there are some brokers like PLUS 500 or Etoro or Liteforex, the reason why because bitcoin is not currency well it can be treated as commodity but its credibility isn't as high as gold or oil or even USD, i know USD and BTC are actually the same fictional things but still USD has more backup than this so called cryptocurrency.

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  • 2 weeks later...

Yeah I definitely feel brokers must allow us to use Crypto currencies since they are such a massive part now. I am so lucky that I have got high understand broker in Nova FX, it has amazing option only for all these stuff, so we are easily able to trade and work with that and not just that they have excellent customer service which is 24/5 active whether it’s on social platforms, live chats or email support, it is all present here.

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  • 2 weeks later...

In fact that cryptocurrency is popular it could be a good idea dude, but remember this once again cryptocurrency is open source do you think there will be new and other new cryptocurrency that created? In fact BTC is the most popular one has very volatile, well speculators love it but i think to be accept into broker it would be require at least 5-10 years later, and i hope i'm wrong.

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  • 2 weeks later...

Using cryptocurrency as someone payment gateway actually is a nice idea, some issues may be solved with it like privacy but i agree with you, it is uncontrollable for now. Well some currency actually but it is not like btc which the movement could drive so crazy, also its liquidity is low compared to other currency.

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As gateway? I think we are talking btc traded as commodity equal to gold, silver, corn and any other commodities. Cryptocurrency is nice even it is less stable compared to the others, but what we need is more liquidity and BTC cannot give it now, pending is the best option and gives it 2-4 years later to see if BTC or other popular crypytocurrencies has enough liquidity.

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  • 2 weeks later...

As gateway? I think we are talking btc traded as commodity equal to gold, silver, corn and any other commodities. Cryptocurrency is nice even it is less stable compared to the others, but what we need is more liquidity and BTC cannot give it now, pending is the best option and gives it 2-4 years later to see if BTC or other popular crypytocurrencies has enough liquidity.

But it is volatile, it is useless without volatility because people speculate in forex and as commodity or even currency BTC actually already good enough, but at the moment i prefer it as commodity which could be traded against other currency such as USD or EUR.

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Well, if that is the case i will be agree with you, i will allow BTC to enter forex realms as long as that is as commodity, a good feature that will maybe boost forex popularity somehow, because forex offers more commodity for people to trade and i think it is the most volatile commodity rather than others.

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Broker in fact should accept bitcoin or other cryptocurrency no matter what, as i said before and it seems myregister agreed that it should be a commodity, well it would be good as currency but even as commodity surely there will be a lot of traders that want to trade with it.

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So we reach agreement here sidejob? I also think that is good if btc or other cryptocurrencies become a commodity instead of currency. I mean there is no one that want to backup cryptocurrency even i must said that is more secure compared to others, but as commodity people can still able to speculate it and also since its open source nature BTC is one of the best and most secure commodity.

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  • 1 month later...

Accepting bitcoin will only make forex has more diversification rather than major or minor currency that mainly traded in foreign exchange market. Cryptocurrency also could open a new way for people who already involved inside of it to make profit from each of their trading.

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It will be more diverse if btc enter as commodity not as currency, let btc backed up by its enermous environment. As currency it will make somethingng not certain. Also like isaid before who want to use/back up cryptocurrency like this for certain period of time? Maybe in 100 years later but i think it won't happen in around 10-20 years.

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Every currency also uncertain buddy, first of all take a look at how BTC and other cryptocurrency rise and fall, that is a very pure speculation there. Also i want to note that BTC or other currency is still new even i can say it is feasible for doing transaction with those cryptos as long as people don't treat it so much.

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  • 2 weeks later...

Bitcoin is uncontrollable so I think it's impossible now.

I just realized you post there and actually this is true, it is uncontrollable in the sense that no one governing it. Even it is better in terms of inequality but you should know that BTC is very easy to sway and we can see the event which resulted on that thing, it will be good for very high risk investment but for forex many people will think twice before use it.

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Bitcoin is actually not so big deal for forex, people can use it if they want but its volatility which make people think twice and also if they can deal with it then people can start to use it in forex. It is all actually the matter of will but as commodity i must say btc already more than enough and people can start to treat it as gold if they want.

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It would drive the market crazy also it is uncontrollable thing, i mean there is no sovereign that monitoring it, well it is based on community but no one big institutions want to back it up as traders it would be a very risk investment, and community is strong but not as strong as that institution.

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  • 2 weeks later...

Well if we want to be honest cyrptocurrency also has some places, in fact the price could soar before aside from its popularity as the alternative and new way to pay something but also thanks to speculation from speculators/traders whose trade it, drove the price to another whole level.

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  • 2 weeks later...

One advantage of BTC or other cryptocurrencies is that it is distributed and also has better management since it is all about community. The price is quite volatile thanks to speculators but this is like forex isn't it? Full with volatility and i just thought about it and realized that if mostly bankers want BTC or other cryptocurrency which speculatable(must be fiat, since there are some CC that is a pegged CC like Nubits) to enter industry in this case Forex.

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  • 2 weeks later...

You said it is uncontrollable since there is no centralized government here and there. But now you said it is a good thing and has good management, which is true? or you changing your idea? Well BTC or other CC actually good but so far it is not really economical for forex i mean in that big scale also BTC still the biggest CC yet doesn't even compared to USD, EUR or even NZD's value.

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  • 3 weeks later...

Well, let me clear it first. It is not centralized and uncontrollable in sense that there is no single big thing that could at least surpress the movement of price, it is all pure based on the demand ratio. Good management here is that the way how it semi centralized part, to cap the amount of mining so it won't be more than what it should get. You see that as there is a cap the price will harder to reach its maximum point.

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Well, let me clear it first. It is not centralized and uncontrollable in sense that there is no single big thing that could at least surpress the movement of price, it is all pure based on the demand ratio. Good management here is that the way how it semi centralized part, to cap the amount of mining so it won't be more than what it should get. You see that as there is a cap the price will harder to reach its maximum point.

Of course no one will do that they can make it slower and also this is a pure based market, near perfect market to say. It is similiar to foreign exchange. With that criteria then it is okay to accept bitcoin into foreign exchange beside if you can't treat it as currency then treat it as commodity.

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  • 2 months later...

If i think it once again it seems that you're right, the bitcoin we know or the other popular and non popular cryptocurrency is near perfect market with many people have their own option and are able to influence the market itself. Treat it as commodity has been done in many country, one of the most notable is in finland but maybe other northern european countries will follow.

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I am hear some broker already use bitcoin to deposit and withdraw money, maybe usage of bitcoin will more popular alsoi, and certain broker also already provided crypto currency as instrument trading, and this will add value of forex business because many more instrument tradng that available,

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