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Author: Admin | 2025-04-28
Position to start trading bitcoin, as you’ll have already acquired the skills and mindset needed to succeed.How to use a forex broker to trade bitcoinYou may be surprised to learn that trading bitcoin is not only possible on crypto exchanges. Many forex brokers have already seen the potential of bitcoin, as well as other cryptocurrencies, and are now offering crypto pairs on their platforms. They’re usually referred to as bitcoin forex brokers.Bitcoin forex brokers may allow you to trade bitcoin currency pairs like BTC/USD, bitcoin CFDs, or both. It’s important to know the differences between these two trading opportunities.Bitcoin currency pairs work in the same way as traditional currency pairs, like EUR/USD. If you buy a bitcoin currency pair, also known as going long or taking a long position, you are speculating that bitcoin will strengthen against the quote currency. Once the price rises, you can sell it for a profit. The opposite, taking a short position, means you think that bitcoin will weaken against the quote currency.Bitcoin CFDs allow you to profit from the change in the price of bitcoin, without actually owning any. Here, your main concern is whether you think the price of bitcoin will fall or rise in the near future. Like with currency pairs, with bitcoin CFDs, you can take a long or short position.The main difference between bitcoin currency pairs and CFDs is that when trading bitcoin currency pairs you need to also pay attention to the price of the fiat currency (in our example, this would be the US dollar). Currency pair trading is all about how the two currencies interact, whilst with CFDs, you only need to concern yourself with one asset.It is important to remember that neither of these methods allows you to own bitcoin. When we look at investing vs trading cryptocurrencies, this is where the distinction comes from. Trading allows you to profit from price movements, without owning the asset itself.How to start trading bitcoin – a step by step guideWith the help of our experts trading bitcoin is easy and safe. Whilst there are several things you need to understand and do before you can start trading bitcoin, our experts have explained each step of the process to make everything as easy as possible. Follow our step-by-step guide to start trading now.1. Open an account with a forex brokerThe very first thing you need to do is to find a high-quality bitcoin brokerage. To do this, you can use the list of brokers on this page. All of these brokers have been rigorously tested by experts and offer great cryptocurrency trading opportunities.If you wish to check out other brokers, you need to first make sure that the platform
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