Bitcoin trading in QatarBitcoin and Cryptocurrencies trading in Qatar - know before you trade
Bitcoin and other Crypto Currencies have shown some crazy price movements in the past few months. Sometimes cryptocurrencies price change up to 10% in a single day depending on market news and monetary policies. Cryptocurrencies are considered to be among the most volatile trading assets in the market.
If you want to trade Bitcoins in Qatar or any other Digital Currencies, you must learn about them first before jumping into trading.
The two primary ways to trade Crypto are delivery based trading and Crypto CFDs.
Bitcoin and Crypto Trading in Qatar
Are you thinking of investing in Bitcoin in Qatar? If you have been watching the financial news lately, you might have heard about the exponential rise in the world’s most known cryptocurrency. So a lot of people in Qatar are thinking, “Should I invest in Bitcoin in Qatar?”. Before jumping to any quick conclusion, let us have a quick view on different aspects of Bitcoin. After that, it will be automatically clear whether you should trade bitcoin in Doha and Qatar. It should be your decision after knowing the pros and cons of Bitcoin Trading in Qatar, whether to trade it, or just give it a try.
If you decide to give Bitcoin trading in Qatar a try, then FBS Bitcoin CFD trading is one of the best available options to you. They offer you Cryptocurrency trading, Forex trading, CFD under one trading platform. You can use all these financial trading instruments strategically to make use of the trading opportunities in the market.
Bitcoins Qatar – What is Bitcoin?
Bitcoin is a kind of digital currency, also known as the cryptocurrency. The term Cryptocurrency means that it has a high level of encryption, which means the hacking of Bitcoin is almost impossible. Like any other currency, you can exchange Bitcoin, and its price keeps fluctuating in relation to other major currencies like USD, EURO, etc. It brings the opportunity for trading on its price fluctuation and earns. All the conventional currencies are centralized, which means the central banks control them. For example, Qatar Central Bank issues Qatari Riyal. Whereas Bitcoin is decentralized, meaning there is no central bank, country, or the Government managing it. That means it is not susceptible to government or any central bank mismanagement. Let us discuss some Pros and Cons of Bitcoin, before finally jumping onto the topic “Bitcoin in Qatar.”
Pros of Bitcoin
Easy to send money – You can send and receive money almost instantly over the internet without having to go through any bank intermediary. Hence there are no bank charges while sending and receiving bitcoins.
Limited supply – There is a maximum limit to Bitcoin mining. This limits the amount of bitcoin that can ever be produced. This is different from traditional currencies, as the Governments print traditional currencies as per their requirement. This limited supply is the reason that helped to contribute to the rise in the price of Bitcoin.
Private – some people think Bitcoin transaction is anonymous, but actually, it’s more private. We can see the transaction on the blockchain – the public Bitcoin ledger. But we cannot see the name and identity details of the transaction. Most people like this kind of private transactions.
No transaction fees – Unlike all the bank cards VISA or MASTERCARD, a merchant accepting Bitcoin does not have to pay any hefty fees.
Cons of Bitcoin
Risky and sharp price fluctuation – Bitcoin has shown a steady rise for several months, then falling 20 -40% over a few days. Bitcoin trading goes on all seven days a week and 24 hours a day, and the price keeps fluctuating.
Sometimes small global news can send the price tumbling down.
So, it’s basically not stable as there are a lot of unknown factors that may affect the price abruptly. The important rule here is “Don’t put any money into Bitcoin which you can’t afford to lose.”
Bitcoin transactions are not reversible – The credit card transactions are reversible, bitcoin transactions are not reversible. So if you send Bitcoin to the wrong person, you can not retrieve it back.
Lost wallet – There are lots of stories from people who have lost their Bitcoin wallet address through a computer crash, virus-infected computer and stolen computer, thus losing all their money in Bitcoin wallet.
BTCUSD CFD Trading
The Forex traders from Qatar are showing interest in BTCUSD trading (Bitcoin-US Dollar) CFD trading. BTCUSD CFD trading does not involve the delivery of the Bitcoins traded. Hence, there are minimum fees involved. It enables traders to gain profit on the price fluctuation of the most popular cryptocurrency.
Bitcoin CFD trading in Qatar with FBS
If you have gone through the above discussion, you might have realized that the risks are high while trading or investing in Bitcoin in Qatar. There are many ways to invest in Bitcoin in Doha, Qatar. The efficient wat to trade Bitcoin is by trading BTCUSD CFDs. Many reputed brokers offer Bitcoin CFD trading – InstaForex, FBS, and Markets.com are few among them.
Bitcoin Delivery based trading – Requires Bitcoin wallet
To invest in Bitcoin, the investor has to understand the Bitcoin Wallet, the type of Wallets, etc. It is essential to maintain your Wallet securely on your computer. Open your account for a Bitcoin Wallet. Buy Bitcoins and store them in your wallet. You have to wait for the price appreciation for getting profit.
The traders can open an account with Bitcoin exchanges to start trading Bitcoin. There are several technical indicators available on the trading platform to help you make a better decision and increase your potential profit. Bitcoin Exchanges charge commission while trading Bitcoin. Start trading Bitcoin and other Cryptocurrencies by following the simple account opening process.