It is no mystery that you can buy things with hard cash regardless of what currency it is. You might not know this but Bitcoins serve the same purpose and you can buy almost anything a currency can buy. Bitcoin is basically a crypo-currency and this means that it has the characteristic of high volatility, just like other assets including platinum.
Some people consider bitcoins to be risky and may not even consider it regardless of the price. Such risk comes in the equation when there are price changes for the bitcoins. There are associated risks with every other currency trading and bitcoin is no different. Regardless of the risks and issues, most people still love to trade Bitcoins due to these reasons.
Transactions are quick and easy
Bitcoin exchange is very quick and one transaction might take around 10 minutes to complete. If you compare this time with other trading transactions such as bank transfers, you will notice that Bitcoin exchange is quite convenient. Bank transfers, although reliable, still take hours and sometimes even days to transfer the money successfully from one person’s account to the account of the receiver. If you are frustrated with the time it takes to make bank transfers, you should look into bitcoins. And you can send and receive payment anywhere in the world at any given time.
Bitcoin mining is very private
A Bitcoin trade does not work in a complicated manner. CEX.io is one of the revolutionary platform for real-time cryptocurrency trading and instant Bitcoin mining. When you send someone bitcoins over the internet, the block chain makes note of the transaction. Record of transaction is very précise and it only contains the ID number and the sum of bitcoin that is transferred.
This means that you can trade in bitcoins very privately and no one will be able to figure out who is actually purchasing or selling. Bitcoin exchanges are legal and accepted in most parts of the world. The added advantage here is that your identity is not made public. Personal information is kept hidden hence bitcoin trading prevents and avoids identity theft.
Fee and commissions are insignificant
Transactions have become quite expensive these days because of huge charges by financial institutions. There are associated charges with credit cards. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bank transfer also comes with a minimum fee. In the case of bitcoin exchange, the fee that is charged is just 0.002 bitcoins. This is quite small and literally insignificant.
While making bitcoin trades you will soon learn that if you trade and exchange patiently, soon you will find a way of not paying transaction fees and commissions. There are either no fees, or very low fees within Bitcoin payments. Some users might include fees to make transactions faster, the higher the fee, the more priority it gets within the network and the quicker it gets processed.
Cex.io can help you learn about bitcoin exchanges in no time and you could even make your first profits with the money you invest. Bitcoin is still at its infancy stage but opportunity for growth is high.