And, trading is not subject to regular business hours since Bitcoin is a P2P cryptocurrency, and BTC exchanges run around-the-clock. Forex markets run 24 hours a day, 5 days a week for retail traders, but not for institutional traders. Forex trading takes place from 5PM EST Sunday to 5PM EST Friday for retail blogger.comted Reading Time: 3 mins 31/05/ · Due to the fact that bitcoin is not yet universal, there are forex brokers that do not grant bitcoin in trading. On the bright side, there are many that do such as eToro, AvaTrade, LiteForex, and Forex Nigeria - Forex Education & Broker Comparison. Forex Nigeria is a website with beginner guides on Forex Trading. We have also compiled the list of best brokers for Forex, CFDs and Bitcoin trading for Nigerian traders. Disclosure: We don't offer any investment advice or such service. We are an independent research website that focuses on comparision, and we have no relation to any broker listed on our blogger.comted Reading Time: 40 secs
Bitcoin Trading | Learn How to Trade Bitcoin | AvaTrade
AvaTrade is an industry-leading broker, with some of the most competitive conditions available, including very low Crypto spreads. Want to join the vibrant Bitcoin market? Open a trading account with AvaTrade now! On Halloween ofthe Bitcoin white paper, describing a peer-to-peer decentralised digital currency, hit the headlines.
A monster was born! It was a revolutionary idea that promised to shake the financial world in the same manner that the Internet shook the smart computing space. Bitcoin was a digital currency that promised security and integrity of transactions. It would be manned by no central authorities, such as governments or central banks, and as such, it promised to open forex trading in nigeria using bitcoin doors for the unbanked global population who could send money within minutes.
The idea was genius, forex trading in nigeria using bitcoin, and the timing was perfect. The world was in a global crisis triggered by financial deregulation, and as a result, Bitcoin offered hope for the future. Bitcoin was as mysterious as its founder, Satoshi Nakamoto. The quality of cryptocurrency as a store of value emerged. Bitcoin, alongside other cryptocurrencies, was now a must-have in the portfolios of every investor. Late investors, however, watched in horror as the entire crypto market retraced after years of incredible gains by Cryptocurrencies became mainstream financial assets though, and the pullback would later prove to be short-lived.
At the beginning ofthe coronavirus pandemic struck the entire world. Economies around the world were literally shut down as governments instituted curfew and lockdown restrictions. As other financial assets dwindled in value, Bitcoin and other cryptocurrencies sprung to life. In a year that investor portfolios suffered the effects of COVID, Bitcoin provided the much-needed cure! Like any financial asset, the price of Bitcoin is dictated by the laws of supply and demand. Bitcoin has always been compared to gold in this regard, in that there is a finite number of coins that will ever be available.
Beyond that, market participants will, over time, determine the fair value of Bitcoin depending on its use cases and adoption.
Another major price influencer is media coverage. In its early years, the price of Bitcoin was constrained as the media branded it a passing cloud and a coin for the dark web. In this age of social media, such negative coverage can scare potential investors, forex trading in nigeria using bitcoin. However, positive media coverage of both Bitcoin and its underlying blockchain technology has provided favourable fundamentals for the foremost cryptocurrency and emboldened investors.
Bitcoin trading may be decentralised, but the power of major governments around the world cannot be ignored. Bitcoin has been the subject of frequent changes in regulation in various aspects, including taxation. Part of the reason the price of Bitcoin fell sharply after the highs of late was massive regulatory pressures from China. But regulation is not necessarily a negative fundamental. In some instances, positive regulation serves as a tool to legitimise Bitcoin as a mainstream financial asset, and this can lead to increased demand.
Part of the reason the price of Bitcoin surged during the COVID pandemic can be linked to the halving that happened in May Bitcoin halving is when the reward for mining Bitcoin is halved. This theoretically limits the supply of Bitcoin as the incentive to mine is reduced. With supply limited, demand increases, and the price of Bitcoin increases as well.
There are different ways to buy Bitcoin and gain exposure to the opportunities this exciting asset provides. Exchanges were initially the only way to buy Bitcoin, and they have evolved as the foremost cryptocurrency has attracted interest globally. When you buy Bitcoin via forex trading in nigeria using bitcoin exchange, you will be required to open and secure a crypto wallet.
There are also peer-to-peer Bitcoin exchange sites where people trade Bitcoin for cash between each other. These sites have grown in popularity because they match local traders who can conveniently exchange Bitcoin using local payment methods. Peer-to-peer Bitcoin trading sites usually offer the coin at premium prices higher than the market spot pricebut they are easy and convenient for anyone to use.
There are also Bitcoin ATMs that resemble traditional ATMs. However, they are not connected to any bank, but rather to a Bitcoin wallet or exchange.
In most cases, it is easy to locate Bitcoin ATMs near you using maps. With Bitcoin becoming a mainstream financial asset, investors can also be exposed to its price changes by trading Bitcoin derivatives like CFDs and the crypto10 index. In this way, investors do not own Bitcoin, they only speculate on its price changes. If you buy, you earn profits when prices go up; and when you sell, forex trading in nigeria using bitcoin earn profits when prices decline.
Bitcoin trading via derivatives is attractive for many investors because it allows for profits to be captured whether prices are rising or falling. Derivatives can also be traded with leveragewhich makes it possible to gain bigger profits when prices move in your favour.
So how should you buy Bitcoin? This entirely depends on your investing goals and ambitions. When you buy Bitcoin via an exchange, ATM, or a peer-to-peer trading site, you are essentially a HODLer.
You essentially believe in the future of bitcoin and will never be concerned by periods where the price is declining. You are in for the long haul and will cash out when forex trading in nigeria using bitcoin reach a predetermined target or when it makes sense to do so.
But forex trading in nigeria using bitcoin you are a short term, forex trading in nigeria using bitcoin, active trader, derivatives such as CFDs will suit you better. Bitcoin is generally a volatile asset whose prices fluctuate wildly, forex trading in nigeria using bitcoin. This means that short-term bitcoin traders are exposed to more opportunities when the prices swing between different highs and lows.
AvaTrade offers you the opportunity to BUY go long or SELL go short on all Bitcoin trades. You can use your preferred trading strategies to buy or sell Bitcoin CFDs regardless of which way the currency is moving. Bitcoin Gold. Bitcoin Cash. When trading with AvaTrade you are trading on the price changes of the digital coin, and not physically purchasing it. If a financial asset is majority-owned by a handful of investors, their collective actions could theoretically shape demand, supply, and pricing.
This reduces the amount of Bitcoin being bought and sold, which in turn affects pricing. When supply exceeds demand, prices go down, and when demand exceeds supply, prices go up. Unlike forex, Bitcoin has yet to gain mass adoption. Like forex, Bitcoin is also decentralised. And, trading is not subject to regular business hours since Bitcoin is a P2P cryptocurrency, and BTC exchanges run around-the-clock. Forex markets run 24 hours a day, 5 days a week for retail traders, but not for institutional traders.
Forex trading takes place from 5PM EST Sunday to 5PM EST Friday for retail traders. Many cryptocurrency analysts attribute the sharp rise in the price of Bitcoin, and altcoin, to increasing interest from institutional investors. In Q1major companies like MasterCard, PayPal, forex trading in nigeria using bitcoin Tesla indicated strong support for cryptocurrencies. Previously, retail demand for Bitcoin was fuelled by leveraged trades, making the market inherently volatile.
Regardless, it remains a speculative asset with questionable intrinsic value. Still don't have an Account? Sign Up Now. Bitcoin Trading, forex trading in nigeria using bitcoin. What is Forex Vanilla Options Cryptocurrency trading Bitcoin Trading. Register Now Or Try Free Demo. Trade on Bitcoin Price Changes in 3 Steps:, forex trading in nigeria using bitcoin.
Trade on Bitcoin Now. Other Cryptocurrencies You Can Trade:. Is the Bitcoin market subject to manipulation by a handful of investors who control the majority of Bitcoin? Register Now. LOGIN TO YOUR ACCOUNT FORGOT PASSWORD. Safe and Secure. Globally Regulated Broker.
How to start trading Forex in Nigeria -- Strategy
, time: 7:44How to Trade Bitcoin in Nigeria in - Step-by-Step Guide
And, trading is not subject to regular business hours since Bitcoin is a P2P cryptocurrency, and BTC exchanges run around-the-clock. Forex markets run 24 hours a day, 5 days a week for retail traders, but not for institutional traders. Forex trading takes place from 5PM EST Sunday to 5PM EST Friday for retail blogger.comted Reading Time: 3 mins 31/05/ · Due to the fact that bitcoin is not yet universal, there are forex brokers that do not grant bitcoin in trading. On the bright side, there are many that do such as eToro, AvaTrade, LiteForex, and Forex Nigeria - Forex Education & Broker Comparison. Forex Nigeria is a website with beginner guides on Forex Trading. We have also compiled the list of best brokers for Forex, CFDs and Bitcoin trading for Nigerian traders. Disclosure: We don't offer any investment advice or such service. We are an independent research website that focuses on comparision, and we have no relation to any broker listed on our blogger.comted Reading Time: 40 secs
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