Top Bitcoin Brokers in India for 2018
We’ve tested the most trusted brokers for India to trade and buy Bitcoin , and below you can find a comparison table with the results.
|Best Trading Platform 2017||Best Demo Account||Best Binary Broker in India 2018|
|Broker||IQ Option||Olymp Trade||Binomo||Ayrex||ExpertOption|
|Read ReviewOpen Account||Read ReviewOpen Account||Read ReviewOpen Account||Read ReviewOpen Account||Read ReviewOpen Account|
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*in case of correct prediction
What is Bitcoin ?
Bitcoin (BTC) is a decentralized, anonymous and peer-to-peer currency that has emerged to be one of the most traded options of all-time. Known for its high-volatile nature, the currency gained its true importance right after the peak rise of April, 2013 and ever since then it has never lost its limelight. Be it the price surge of coin to $1200 in a span of two months to the hard-fork of August, 2017 that led to the creation of Bitcoin Cash (cousin currency of bitcoin), this cryptocurrency has seen it all and that is what makes it a promising instrument to trade.
In fact, 2014 was the premier year for the coin when it witnessed some of the significant changes which are:
- The increase in the trade volume of bitcoins, making it one of the largest cryptocurrencies to have ever been traded.
- Adoption of major firms such as Dell, Microsoft and Expedia who stated accepting the coins for their service and products
- The average number of stores that accepted the coins grew to 82,000 from 36,000
- Venture capital investment of bitcoin was at rise to over $335 million dollars
Considering the strong potential of this currency, anyone would want to try their luck by giving bitcoin trading a try. So, how exactly to do that? Read on to find out more.
Reasons To Trade Bitcoin
There are certain reasons that showcase the importance of bitcoin as a trading instrument and some of these are:
- Global Expansion of Bitcoin: The price of bitcoin is not related to any economy or policies of a country, rather the bitcoin value responds to global events. This is something that makes the trend a bit easier to analyze, compared to traditional currencies that are governed by their respective nations.
- Trade Bitcoin 24/7: Unlike forex or stock market, there is no form of official exchanges for trading Bitcoin, rather there many decentralized platforms that operate 24 hours a day and 7 days a week creating arbitrage opportunities for large companies, hedgers and individual traders.
- Volatile Market: Bitcoin is often associated for its frequent and rapid movement of prices. In fact, when you spot a bitcoin price chart then you will realize that in span of three months during November, 2015 to January, 2016 it showed swings of over 5% and more.
The Risks of Trading Bitcoin
Before you begin to trade bitcoin cash you must be aware of the risks that this market has in store:
- Bitcoins get traded on various exchanges and thus the rates of exchange vary from one to another. You have to analyze the exchange rates with broker that you plan to use.
- The high leverage tactics used by most of the traders can get risky for beginners who are unable to notice the exposure of the market
- Cryptocurrency is an independent class of asset that follows its own valuation system and trading based on bitcoin value may have an impact on the loss or profits in unpredicted ways.