What is Bitcoin?
Bitcoin is the first and most popular cryptocurrency (online currency), and is bought and sold worldwide as an asset. Since it is an unprecedented phenomenon, it is incredibly volatile, and has become widely known for its sharp rise in value, going from being worth virtually nothing to thousands of dollars in the space of a few years. Trading bitcoin in USD is common, and can be done by buying it and storing it in a digital wallet or trading bitcoin CFDs.
Since bitcoin is incredibly volatile, its price in USD is constantly fluctuating. This is because it is governed by the laws of supply and demand, and demand has been swiftly increasing. As bitcoin’s value has increased, so too has interest in buying it as an asset, so bitcoin’s price in dollars could continue to increase for the foreseeable future if this trend continues.
Those investing in bitcoin, whether through a CFD or a bitcoin exchange, must monitor both the factors affecting the value of the dollar as well as factors affecting bitcoin’s value to gain a good understanding of how much return they may get on their investment. Using live price charts can also go a long way in helping investors to monitor the bitcoin/USD market and make more informed investments.
Investing in bitcoin using dollars is common, given that the dollar is one of the most widely used currencies in the world. As a result, it makes sense to look closely at how bitcoin’s price in dollars has fluctuated in recent years. The most common ways to invest USD in bitcoin are to either buy bitcoin outright through an exchange or to speculate on its price movements through trading CFDs.
Buying bitcoin as an asset seems like an attractive option given the cryptocurrency’s exponential rise in value in recent years, but it also carries a lot of risk, so be cautious. Bitcoin’s price in USD is something which has been known to rise and fall drastically in short periods of time, so many people choose to trade bitcoin CFDs instead. This involves speculating on bitcoin’s price movements without ever actually having to purchase it, meaning you can profit from it both rising and falling in value (Whereas buying it outright means you can only profit if the price rises).
Trade Bitcoin/USD With ADS Securities
If you are interested in trading bitcoin CFDs with an industry leading broker, then ADS Securities could be your solution. We have established a strong reputation as one of the most effective brokers on the market, and we also offer our OREX trading platform which allows you to trade 60 currency pairs and over 1000 CFDs whenever and wherever you are.
Using ADS Securities gives you access to a wealth of different tools for analysis, as well as accurate price charts, so you can be sure that we will fulfil your trading requirements.