In "The Trading Sessions: Investing and trading Bitcoin - you need to know" at GKFX on November 30th at 6:00 p.m., it will be about the cryptocurrency Bitcoin. Bitcoins are currently on everyone's lips and are currently among the most noted values among traders and investors. Traders appreciate the volatility of weighing, while long-term investors are interested in the options of appreciation.
Information on bitcoins
However, should Before you start trading with bitcoins , you should find out all you need to know about bitcoins and trading cryptocurrency Bitcoins are not comparable to stocks or traditional currencies. Meanwhile, cryptocurrencies form their own trading class. In this webinar, Wieland Arlt informs interested parties about what makes Bitcoins so special and what traders have to consider when trading.
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A Bitcoin worth more than $ 10,000
Bitcoin is currently breaking all records. On Tuesday, the price rose to over $ 10,000 for the first time, sometimes even over $ 11,000 on some Bitcoin exchanges. A few days ago, bitcoins were "only" worth $ 8,000. But these days there are also critical voices warning of the bursting of a bubble.
Criticisms of Bitcoin are heard repeatedly from official bodies. The Bundesbank's executive board, Carl-Ludwig Thiele, said some time ago that Bitcoin was not money at all and referred to the value instability. Such reports and statements repeatedly have a negative impact on the Bitcoin price.
Positive reports cause prices to rise
In contrast, positive reports lead to price increases in a short time, The futures exchange in Chicago recently announced that it will offer futures on bitcoins. Bitcoins have now also arrived on Wall Street. How bitcoins will continue to develop is currently in the stars. It is equally possible that it will go up as well as strong price losses.
The hype about bitcoins goes back to 2008. It was then that the concept behind Bitcoins was first published in a mailing list. This white paper was based on an idea from 1998. The paper was published under the pseudonym Satoshi Nakamoto. It is still unclear who is behind this pseudonym. At the beginning of January 2009, the first 50 bitcoins were mined and the community behind bitcoins slowly formed. The Bitcoin Core, the software behind Bitcoins, was also released at the time. From the beginning, the maximum limit of 21 million bitcoins was laid down in the Bitcoin protocol.
Payment system and currency
Bitcoin denotes Payment system and a currency. Every Bitcoin is mined within the network. Bitcoin is based on the so-called blockchain, a decentralized database. In this all transactions are recorded. If a new transaction is added, a new block is created.
To be able to carry out transactions with Bitcoins, a digital wallet is required. For example, you have to register with a corresponding online service. This is not necessary to trade bitcoins. More and more brokers are offering easy access to bitcoin trading, among other things, by offering bitcoins as underlying assets in CFDs.
Acceptance is growing
In addition, some offer Online exchanges exchange for other currencies. Bitcoins were originally invented to pay anonymously and simply over the Internet. There are around 100 acceptance points in Germany. Large companies such as Expedia, some pizza delivery services and NGOs also accept bitcoins. The cryptocurrency also became known through fundraisers. So you can donate with Bitcoins to WikiLeaks or the nature conservation association BUND Berlin. In 2015, the Vienna Museum of Applied Arts collected donations for the purchase of a work of art via Bitcoin.
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Rapid price increase since 2010
At the beginning there was no equivalent for bitcoins in other currencies. In 2010, the first users began to negotiate exchange rates among themselves. Until the end of 2011, this exchange rate was mostly in the single digits. A bitcoin was therefore worth less than ten dollars. Significant exchange rate fluctuations were visible right from the start. For example, the value of a bitcoin was over $ 1,000 for the first time at the end of November 2013, but fell again to less than $ 250 due to the insolvency of the Bitcoin exchange Mt.Gox in February 2014. Only in autumn 2015 did it go up significantly again. In early 2016, the value of a bitcoin was around $ 450. In early 2017, a bitcoins was worth $ 1,000 again. The value of a bitcoin has increased tenfold in the last eleven months.
Currency without regulation
So far, bitcoins are not subject to any regulation. Online exchanges are also not regulated or controlled. In addition, no deposit guarantee has so far been prescribed. Therefore, when trading in bitcoins, you should in any case contact a reputable provider like an established broker and deal intensively with bitcoins and the risks in trading before you start trading.
Foundations of Crypto Trading
Bitcoin trading at GKFX
Trading in bitcoins at attractive conditions has only been possible for a short time at GKFX. Even small contract sizes from a minimum trading volume of 0.1 lot are possible. Trading takes place via the trading platforms Sirix and MetaTrader, where many trading tools are also available. Traders at GKFX can choose between the FIX, Variable and VIP variants. A possible loss is limited to the balance in the account.
GKFX offers leveraged trading in bitcoins. The CFDs on bitcoins are quoted against the currencies dollar and euro. When you buy a bitcoin, you sell dollars or euros at the same time. When trading CFDs with bitcoins, a margin of 20 percent must be deposited.
Rising and falling prices
In the case of a long position, traders benefit if they have one rising price sell bitcoins at a profit. If this is not the case, a loss occurs. In contrast to a direct investment in bitcoins, traders speculate on the development of the price. This means that you can benefit from rising and falling prices, which is not possible with a direct investment. This is how the special volatility of bitcoins can be fully exploited.
in the webinar "The Trading Sessions: Create and trade the Bitcoin - Das you have to know " will focus on the well-known cryptocurrency on November 30th at 6pm. GKFX expert Wieland Arlt explains what needs to be considered when trading bitcoins. Many traders are currently interested in bitcoins, the value of which has increased tenfold this year and recently broke the $ 10,000 mark for the first time.
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