Forex continues to be the largest and most liquid market in the world, one of the main reasons why retail CFD traders are constantly monitoring it for new potential trading opportunities. With the rise of cryptocurrencies, there are many people holding their funds in BTC who would like to gain access to trading the currency markets, without having to exchange crypto to fiat first.
Online trading provider easyMarkets is a long running brand that had recently launched the µBTC account, a brand-new feature designed for crypto holders wanting to deposit, trade, and withdraw, with no need to make a conversion into any of the popular currencies, also attached with several important benefits.
1. Using The Most Popular Cryptocurrency in The World
Currently trading around $35,500 per token, Bitcoin is considered to be an official new asset class, as Goldman Sachs had stated several days ago. With close to $700 billion in market capitalization, it continues to be the largest crypto in the digital assets industry, and an investing tool for more companies that had invested some of their funds over the past year.
Trading forex with BTC is attractive due to the solid background and growth prospects of this cryptocurrency. Despite numerous ups and downs, Bitcoin had shown resilience and the ability to get back up after each bear market. The continuous reduction of new supply, due to halvings, combined with persistent demand is creating an environment where valuations could keep edging higher in the longer run.
2. No Need to Exchange Crypto to Fiat
With a feature such as the µBTC account available at easyMarkets, opening an account and funding it with Bitcoin is as simple as opening a regular fiat-denominated account. All traders need to do is select the Microbitcoin as their base currency, verify the account and identity, to be able to fund the account by scanning the provided QR code after that.
The Bitcoin price continues to fluctuate, sometimes in a very volatile fashion, and if traders would need to exchange crypto to fiat or vice versa, they could be constantly exposed to exchange rate differences.
3. Access to Regulated Services
Unlike most traditional crypto exchange platforms, a brand like easyMarkets is regulated in multiple jurisdictions, guaranteeing transparency, strong financial security and transparency for all customers. Getting involved in the FX market should always be done by working with regulated CFD brokerages since only in that case, there are laws in place setting up guidelines for the protection of clients.
4. Negative Balance Protection and Risk Management Tools
Although forex is a more stable market than crypto and daily price action swings are contained, the use of margin can amplify the account balance fluctuations. With a µBTC account at easyMarkets, traders can benefit from the usual features, including negative balance protection and risk management tools like stop loss or take profit. Retail traders should approach the market professionally and only by using these tools they can ensure smooth performance and limited drawdowns.