September 15, 2016, Romania, Bucharest – It is no secret that the currency exchange and trading industry is now heavily dependent on the internet, thanks to electronic payment systems and the emergence of cryptocurrencies. The evolution of the financial system from regular fiat currency to a combination of fiat and cryptocurrencies has also influenced traders around the world to revise their trading practices. This paradigm shift on the exchange market has shifted trader’s focus from relatively stable, familiar currency pairs to volatile ones such as Bitcoin and other cryptocurrencies. The digital currency’s price is dependent on demand and supply. Each Bitcoin exchange or trading platform has its own exchange rate which is different from that of others and keeps fluctuating. This increases price fluctuation and volatility which makes Bitcoin an ideal trading asset. It is easier to make a fortune by buying Bitcoin from one exchange where the price is low and sell it on the other with a higher price. There are currently a large number of Bitcoin exchanges on the internet, but traders usually prefer to go for the popular ones. Big exchanges are considered to be more reliable than their smaller counterparts and rightly so. These bigger exchanges, owing to their popularity are well regulated and are less likely to experience difficulties while processing orders. The sheer volume of trade handled by these exchanges also makes it possible for them to offer better rates. Powerful international cryptocurrency exchanges like Bitfinex, Kraken, Bitstamp etc. allow their customers to top up their accounts and withdraw funds via bank transfer. Even though this is the most secure method, it has its own drawbacks. It requires personal verification which may take a week, not to mention the additional banking and transaction fees. These obstacles might deter some customers who are […]
