What Is Bitcoin?Bitcoin, created in 2008 by Satoshi Nakamoto. Is it still unclear if this was the name of a group or a single person.
In 2009, Bitcoin was released as open-source softer and began the journey that leaded to a $50,000 all time high on the 16th of February 2021. The new value topped the one on the 8th of February 2021 at $43,878 achieved after Tesla invested in Bitcoin.
Bitcoin (BTC) is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain, and is forecasted to continually expand.. Due to the market capitalization and global implementation, Bitcoin is the most traded cryptocurrency, in spot or contract trading. The Crypto Contract layout makes it easier for traders to select crypto contracts and gain profit depending on the market.
On Monday, 8th of February, Tesla announced they bought $1,500,000,000 worth of Bitcoin (BTC) as a method to diversify and maximize cash returns. As an instant result, the price of Bitcoin surged from $38,000 to $42,000 in matter of hours.
The contract trading is the method of trading that aims to gain profit from market volatility. This method allows the user to forecast if the price of an asset will go up or down, involving leverage.
The traders are not buying or selling the asset, only speculating the price and forecasting if the value will go up or down. Contract trading can bring profit quicker than holding assets but the risk involved with this type of trading is higher. Bityard has two different types of Contract Trading: Cryptocurrencies and Derivatives.
The Contract trading is different from spot trading. The trading instrument called contract allows the investor to trade on the price movement of the cryptocurrency, at a future date or and at the desired price. It involves leverage and therefore the traders are not buying or selling the asset, only speculating on the price movement. With a trading fee set at 0.05%, Bityard has trading fees lower than the industry’s average.
In the below scenario, I am forecasting that the Bitcoin price will go up. Selecting “Long” will open the contract, at the current value of $38689,88 and profit will be generated if the price goes upwards.
For this transaction I set the leverage at 25x, using 5 USDT for this contract. The 0.05% fee was added to the order. Once confirmed, the Bitcoin contract will appear in the bottom of the dashboard, under the “Positions” tab. The contract details will include the name of the cryptocurrency, the leverage, the chosen margin, opening price and opening time.
The contract will close automatically if the price will raise or drop at the set value, or it can be closed by the user at any time. Closing the contract manually is a method that can bring profit when the value is close to the set value and the price stops moving. Closing the contract will bring a smaller profit but will reduce time wasting and stress due to volatility. I closed the contract with a 5.38% profit.
Why Bityard is different?
Bityard engine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for both mobile (Android & IOS) and web, and has the lowest transaction fees. The website interface is available in nine different languages with customer support 24/7 via email and live chat.
Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange.
Bityard operates with licenses from four different countries: The USA, Australia, Singapore, and Estonia. The following licenses are regulating the exchange activity: the Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC)