Bitcoins not yet a currency for trading accounts

Even though more and more online brokers offer Bitcoins as underlying and even support direct foreign exchange trading with the crypto currency, customers are still waiting in vain for the introduction of Bitcoins as currency for trading accounts. It will probably be a long time before they can read on experiences that one of the largest binary brokers offers this alternative. However, the idea is not entirely unrealistic.

What are the advantages of cryptosoft?

The cryptosoft concept of Bitcoin itself speaks for the use of the digital currency as a currency for trading accounts. Bitcoins were specially developed for Internet payments and can easily be traded in large amounts. The financial industry has also been able to significantly expand its services through the use of the Internet and open them up to private investors. So both are areas that could complement each other and would be a logical consequence which is not a scam says onlinebetrug.

Through the decentralisation approach of the crypto currency, online brokers based on similar principles would not only be an interesting experiment, but even the consistent further development of the concept, which provides for independence from financial institutions. However, since there are currently no established brokers who would like to take such a risk, nor are there any plans for such an undertaking within the Bitcoin community, a pure Bitcoin broker is merely a quiet dream of the future.

Bitcoins could also be interesting as a currency for trading accounts due to the potential return from exchange rates. Currently, however, the crypto currency still lacks the acceptance and stability to actually be sufficiently attractive for investors in this respect.

What speaks against the crypto trader?

The high volatility of the crypto trader currency is considered problematic. The price fluctuations of Bitcoins still exceed those of the ruble many times over. In this way, in addition to the risks of the investment opportunities of the respective broker, the exchange rate risk would also be considerable. For the crypto trader account itself, however, even speculative investors usually choose stable currencies in order to enter into risks and yield opportunities in a more targeted manner. A trading account in Bitcoins would not provide a basis for responsible risk management, at least not at this stage.

In addition, it is to be expected that the target group for a trading account in the crypto currency would not be sufficiently large, since Bitcoins still suffer from the low distribution and acceptance. Although there are some Bitcoin enthusiasts who would certainly find such an offer attractive, they would not provide a sufficient number of customers to justify the increased organisational effort of another currency. Another problem is the fact that in most countries the handling of Bitcoins is not sufficiently clarified either legally or fiscally. This, too, would increase the speculative share of Bitcoin trading accounts and make such an offer even less attractive to the majority of investors.

A trading account in Bitcoins is therefore only likely if the acceptance and stability of the crypto currency has risen significantly and the legal framework is more stable.