Is btc the best digital currency to be used for trading?

bitmarket.net

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Quote from: Nrcewker on November 12, 2015, 04:46:18 AM

not very clear what your mean, we trade bitcoin with any fiat, bitcoin is good so we use it but not sure whether it is the best and how to determine that bitcoin is not the best to trade?

I would say that, from the point of view of a trader, a digital currency has to satisfy 2 major conditions:

1. It has to be liquid - there has to be enough volume available, so the trader is able to get in and out of the position when he needs to without paying to much bid-offer spread. larger trading volumes also makes the currency more difficult to manipulate
2. It should offer volatility - it's easier to make profit trading the currency that moves up or down 2-3% within one day than the one that moves on average 0,2% per day. Having said that, trading the currency that moves 30% per day might be more like a gamble.

Other issues to consider are:
- are there tools available, such as charts, etc ?
- can you open short position or use leverage ?

Nrcewker

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not very clear what your mean, we trade bitcoin with any fiat, bitcoin is good so we use it but not sure whether it is the best and how to determine that bitcoin is not the best to trade?

Mickeyb

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Quote from: Amph on November 12, 2015, 02:20:49 AM

i'ts the most accepted the most mined, the only true currency among that pile of garbage you may found in the alt section

you can however add monero if you want, as it offer something which bitcoin lack for now

Ethereum also has a huge volatility lately and huge swings. It is over manipulated, that can be seen but if you know what you are doing and if you are riding the waves without getting too greedy, there is money to be made by trading it.

Amph

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it's the most accepted the most mined, the only true currency among that pile of garbage you may found in the alt section

you can however add monero if you want, as it offer something which bitcoin lack for now

mixan

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Bitcoin to me is the easiest to do trading with. For many reasons:
1. It has major volatility that makes it great to "dump"(in stock terms) if not performing the way you want it to.
2. Value on it means different things to different people. Individuals will put more value on it than others at different times of the day. If someone has a better hindsight on what is going to happen they score on there hunch.
3. Easy to transfer from one exchange to another without having to deal with a broker or middle man if you will. You can do everything yourself. Self made trader if you will.
4. Everybody can hold it unlike how the stock/forex market works, where you must be registered to be able to purchase your holdings.

maokoto

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I think that is best mainly for the volume/adoption. To take advantage of trading you need ups and downs in which you can profit from selling/buying. When there is not much volume, there are not much ups and downs either.

R4v37

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Quote from: bumm on November 09, 2015, 10:57:05 AM

Quote from: erikalui on November 09, 2015, 10:29:48 AM

I have been been trading on ecoin for a long time and I must say that none of the currency pairs on forex can earn so much proit as 1 BTC can do. So this answers your question that bitcoin trading is the best option as it was not too far when the price was $250 in September-October and it is now $383 ($133 profit in just 2 months if a person bought just 1 BTC).

It's true. After spending years on the currency exchange i believe that BTC is by far the best commodity in terms of trading. A slight increase in value affects your holdings in a more significant way.

its difficult to say, which one is the best...
coz, it reflects on how paranoid you are... how accurate your prediction... and how high your success rate in paranoid-ing Tongue

Argonne

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Quote from: bumm on November 09, 2015, 10:57:05 AM

It's true. After spending years on the currency exchange i believe that BTC is by far the best commodity in terms of trading. A slight increase in value affects your holdings in a more significant way.

Do you mean you have many bitcoins, so the price rise will disproportional effect on your total wealth? Or do you use leverage?

bumm

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Quote from: erikalui on November 09, 2015, 10:29:48 AM

I have been been trading on ecoin for a long time and I must say that none of the currency pairs on forex can earn so much proit as 1 BTC can do. So this answers your question that bitcoin trading is the best option as it was not too far when the price was $250 in September-October and it is now $383 ($133 profit in just 2 months if a person bought just 1 BTC).

It's true. After spending years on the currency exchange i believe that BTC is by far the best commodity in terms of trading. A slight increase in value affects your holdings in a more significant way.

erikalui

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I have been been trading on ecoin for a long time and I must say that none of the currency pairs on forex can earn so much proit as 1 BTC can do. So this answers your question that bitcoin trading is the best option as it was not too far when the price was $250 in September-October and it is now $383 ($133 profit in just 2 months if a person bought just 1 BTC).

jacee

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Quote from: ad2042 on November 05, 2015, 01:30:47 PM

If yes then plzzz tell me reasons so that i can use it as payment in my trading proffesion.

First of all what kind of trade is you are making? Are you referring to altcoin trading, forex trading or simply btc - usd trade? You can use btc as it is more convinient and also as the other one said, you can easily get profit from bitcoins' votality if you know what you are doing.

bitmarket.net

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Btc is reasonably liquid already and still offers enough volatility, which can translate for the profit-making opportunities.

erickimani

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I think it is the best currency for trading. many advantages in using them. this include: there is no taxation which is good for business, no transaction cost and the transactions can not be traced back to you. you will enjoy all the transactions without any fear. no one can steal your bit coins or reverse the transaction. what do you need more? this is definitely a good way but try and balance as it has not stabilize. All the best.

shorena

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Quote from: ad2042 on November 05, 2015, 01:30:47 PM

If yes then plzzz tell me reasons so that i can use it as payment in my trading proffesion.

Whats your trade?

ad2042

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If yes then plzzz tell me reasons so that i can use it as payment in my trading proffesion.

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