Bitcoin Trading in Brunei
Bitcoin Trading in Brunei
It’s not late if you have missed the recent Bitcoin trading opportunity in Brunei Darussalam. Because the opportunities in the market keep on coming and going, you must wait for your turn to get into it. Are you thinking of investing in Bitcoin trading in Brunei? If you have been watching the financial news during the past few months, you might have heard about the exponential rise in the world’s most known cryptocurrency. Therefore, many people in Brunei are considering “Should I trade in Bitcoin in Brunei?”. Before jumping to any quick conclusion, let us quickly look at different aspects of Bitcoins in Brunei. After this, it will be clear whether you should trade bitcoin in Brunei Darussalam. It should be in a better position to decide after knowing the pros and cons of Bitcoin Trading in Brunei, whether to trade it or give it a try.
If you decide to give Bitcoin trading in Brunei a try, then IQ Option is one of the best available options to you. They offer you Cryptocurrency trading, Forex trading, CFD, and Binary Options under one trading platform. You can use all these financial trading instruments to make use of the trading opportunities in the market.
What is Bitcoin?
Bitcoin is a digital currency created and distributed electronically by people worldwide on a technology called the blockchain. It is also referred to as a cryptocurrency, meaning it is a currency that uses high-level encryption to secure transactions, control the number of units, and also to verify the transfer of ownership. Bitcoin was created in 2009, and it became the first decentralized cryptocurrency. Bitcoin became a massive success throughout the world over time. The creator of Bitcoin is “Satoshi Nakamoto,” and nobody knows whether this is a person or a group of software developers.
Bitcoin’s purpose was to be a digital currency, which anyone could acquire and use for the purchasing of goods and services. It has recently been called “Digital Gold.” This is because Bitcoin’s price has multiplied many times, and it continues to rise and likely to continue for years to come.
The reason for Bitcoin’s continuous rising is due to the fact that there will only be 21 million bitcoins ever created. So this brings in a limit to the supply of Bitcoin; hence its price rises due to limited supply and huge demand.
Pros of Bitcoin
Easy to send money – Money could be sent or received immediately over the internet without needing to proceed through any bank intermediary. Hence, there are no bank costs.
Limited supply – There is an optimum limit to Bitcoin that can ever be mined. This limits the number of bitcoins that may ever be produced. That is not the same as traditional currencies, as the governments print them as per their requirement. This limited supply’s reason that has helped the rise in the cost of Bitcoin.
Private – many people think Bitcoin transaction is usually anonymous, but actually, it’s more personal. The trade made is seen on the blockchain – the general public Bitcoin ledger. However, the name and identity information on the transaction can’t be seen—a lot of people like this type of private transactions.
No transaction costs – Unlike all of the charge cards VISA or MASTERCARD, a merchant accepting Bitcoin doesn’t have to pay any hefty fees.
Cons of Bitcoin
Risky and sharp price fluctuation – Bitcoin has demonstrated a continuous rise for several months, then falling 20 -40% over a couple of days.
Bitcoin trading continues on all seven days per week and 24 hours per day, and the purchase price keeps fluctuating. Occasionally small global information can send the price tumbling down.
So, it’s not stable mainly because many unknown elements may impact the price abruptly. The essential rule here’s “Don’t put any money into Bitcoin that you can’t afford to reduce.”
Bitcoin transactions are not reversible – Unlike credit card payments, Bitcoin transactions aren’t reversible. If you send out Bitcoin to the incorrect person, you can’t retrieve it back.
Lost wallet – There are numerous stories from individuals who have shed their Bitcoin wallet address through a computer crash, virus-infected pc, and stolen computer, therefore losing all their balance in the Bitcoin wallet.
For the above reasons, you must know what you’re doing and take the time to understand how to buy and store your Bitcoins properly. Always keep a hard copy of your wallet address in a safe place. Now, you are better informed about Bitcoin trading and can decide on investing in Bitcoin in Brunei.
Bitcoin Brunei – How to trade Bitcoin in Brunei?
The traders in Brunei can benefit from Bitcoin in two ways – 1. By buying Bitcoin and holding it for price appreciation, 2. By trading Bitcoin CFDs.
Buy and Hold Bitcoin – The investors can buy Bitcoin using their Credit or Debit card from the reputed Bitcoin exchanges and hold their Bitcoin in their wallet. They can sell it for a higher price in the future to make a profit. This mode of investment is usually long term and involves fees while buying and selling Bitcoin in the exchange.
Trading Bitcoin CFDs – Trading Bitcoin CFDs (Contract for Difference) is based on Bitcoin price only. The trader or investor does not actually buy Bitcoin. They only enter into a contract based on the Bitcoin price in either direction. Buy Bitcoin CFD if you expect price would go up; sell Bitcoin CFD if you expect a price decline. In this way, traders can make a profit whether the price goes up or down. This does not involve exchange fees for buying or selling Bitcoin. However, a small fee applies for trading Bitcoin CFD, which is lesser than buying Bitcoin.
Bitcoin trading has become more and more popular in the present day. Bitcoin’s price has shown high volatility and very sensitive to related news and regulatory changes. Hence, it is very risky for retails traders to invest in Bitcoin unless he can monitor and analyze the Cryptocurrency market actively. Therefore, many traders and investors trust investment firms with dedicated experts who continuously watch the Cryptocurrency market and investment. World Markets is one such Fund Management firm with highly skilled analysts using artificial intelligence to trade the market. They have an excellent track record of a 20% average monthly profit for the past three years.
Invest in Bitcoin and other assets using World Markets Artificial Intelligence Managed Fund.
Bitcoin trading with IQ Option
IQ Option offers Bitcoin CFDs, Binary, and Digital Options on Bitcoin to the traders of Brunei. The traders and investors can fund their IQ Option account and trade Bitcoin on IQ Option online trading platform.
Bitcoin traders in Brunei can trade Bitcoin without purchasing the underlying asset, which means they won’t have to take physical hold of the asset. Instead, they have to speculate on the price movements of Bitcoin through a trading method called Contracts For Difference (CFD). IQ Option offers this method of trading for all the popular cryptocurrencies. When trading Bitcoin CFD in this way, the trader doesn’t need to start with a large amount of capital as when buying Bitcoin outright. The brokers provide you the leverage of up to 1:100, meaning you can trade worth $10,000 with a deposit of $100. Crypto trading is similar to forex trading and simple to understand. You have to start by selecting the asset you want to trade, choose the amount to invest, and then look at the charts to understand which way the Bitcoin will move. Bitcoin quote is shown against the USD, so while trading Bitcoin, it means that you are actually speculating whether the price of Bitcoin will go up or down against the USD.
Conclusion – Bitcoin Investment Brunei
Bitcoin has seen tremendous volatility in the past several months. There is a continuous change in the regulatory framework by different countries. Few countries oppose CryptoCurrencies while few other countries favor cryptocurrencies. Sometimes, a small statement from any financial regulators in the world affects Bitcoin or Cryptocurrency prices sharply. Hence, the traders and investors should carefully manage their positions in Bitcoin and Cryptocurrencies. It is better to depend on professionals to manage your Cryptocurrency investment.