Trade Bitcoin, as a currency, is like the rest of the known regular currencies. Despite its hypothetical and decentralized nature, it can be paid to obtain various goods and services from sellers who accept them as commodities according to the market exchange rate.
When a person (A) wants to transfer 2 Bitcoin to person (B), this means that Person (A) give his ownership of Bitcoin to Person (B), meaning that the process will take place from address (A) to address (B) and every address in It has a private encryption key, and only the owner of the key has the authority to approve and certify the transfer.
Here comes the role of BlockChain and the network host devices – that is, the devices that perform the mining process – which verify the signature of Switch A, his previous transactions history, the sufficiency of his balance for the transfer, and ensure that the process is done for one party only to prevent duplication of the transaction and this is what protects the transactions from Deception or fraud.
Advantages in trade Bitcoin
Any user can create an account and a Bitcoin wallet without linking them to names, addresses, or personal data. The records’ operations do not contain any data of the source or recipient, as they are a complete record of transaction details only.
The transaction cannot be returned
Once the transaction or transfer has been completed, it is not returned, as happens with credit cards Refund. The recipient must make a new transfer process and verify it again as it is a new transaction. This increases the credibility of the transactions and closes the door to any possible manipulations.
Low transfer fee
One of the most important features of the spending or transfer process is the low and speedy transfer fees. You should know that paying the transfer or transaction fees is optional.
It is an electronic wallet in which all Bitcoin transfer and transaction information is stored. Its system is part of the blockchain registry, in which digital credentials are stored that prove your ownership of Bitcoin and allow its owner – the owner of the private key – to access and spend it. That is, the wallet contains the cryptocurrency keys.
Bitcoin and most other cryptocurrencies are traded in the same way as CFDs, the difference between the asset’s current value and its value at the end of the contract. If this difference is positive, this is in the buyer’s interest, just as it is with gold trading on trading programs.
And trading in it is a direct spot, meaning that the decline in the price of bitcoin or its advance is dropped directly from your primary account; for example, if you buy one Bitcoin at the cost of 16830.90 and the price falls to 16693.50 levels, this means that the loss from your account will be $137.40.
Some companies and brokers today provide trading on bitcoin on the margin system. This option allows borrowing from the company as leverage to complete the liquidity needed to complete the deal – if your account is not enough, for example, to enter a purchase transaction on 10 Bitcoin, the leverage supports you to enter the deal to complete it, and after it reaches its target, it closes The deal is for settlement and returns the amount borrowed + interest or fees owed, and the profit or loss is added to the principal – precisely the same as dealing with ordinary currencies or gold, silver, and oil.