The difference about Bitcoin and Forex, For those who have tried to find a money in the virtual world certainly will not be foreign anymore when hearing the about trading, whether it is forex trading and binary options. And of course also will not be familiar with the term BTC or trading Bitcoin.
Bitcoin is still foreign, especially in Indonesia. Then, what is Bitcoin?
Bitcoin is the currency in the form of virtual, or Open Source (cryptocurrency). Bitcoin itself developed since 2009 by Satoshi Nakamoto. Bitcoin is one currency like a dollar or rupiah, but the difference is not a real form of paper or any object, only available in the digital world. This Bitcoin store can only use Bitcoin Wallet, and this wallet will be used in Bitcoin transactions.
The process of making Bitcoin is called “mining” which uses a sophisticated computer in decomposing a complex algorithm that will find a new block of BTC. As a reward for finding this new block will be given 25 BTC per block, to prevent inflation, the number of BTC is limited to 21 million BTC.
Then What’s the Difference Bitcoin Trading with Forex Trading?
Forex trading may already know a lot, a simple explanation of forex trading is the currency trading (money currency) from different countries, by developing the difference of currency exchange. Well, what is different with Bitcoin trading?
How to Trade
The difference lies in how to trade when in forex trading we know short and long term, Vaknin target price down or up on the currency pair and take profit among them. While BTC trading is like buying and selling goods online, ie there is only Buy and Sell, buy BTC or sell BTC, then the target profit is only the sale price minus the purchase price.
Hence there is no term Margin Cell and Pip in this BTC trading, there is only profit and loss in buying and selling of goods. Sometimes, Bitcoin is regarded as an item of a currency.
BTC Price Always Fluctuate
The other differentiator Bitcoin price is always fluctuating with an uncertain reason. This makes fundamental analysis not so influential on Bitcoin trading.
Bitcoin is Countryless Currency (can not be controlled)
Another difference between the idealism of Bitcoin that is not controlled by the government, so do not be surprised if no one can answer if asked: “Bitcoin is the currency of which country?” This is not owned by forex trading because currency trading is a control of the government of a country To stabilize the economies of each country itself.
That is a very significant difference from trading bitcoin and forex trading, if you know more please add the information, hopefully useful.