CFD Bitcoin Traders and Normal Bitcoin Traders
Bitcoin is cryptocurrency in simple worlds its electronic currency and it’s definitely something the world hasn’t seen before. Why is it called cryptocurrency?? Well, because it uses cryptography to control creation and transfer for money, which is one of the sole purposes of bitcoin.
Bitcoin Normal Trading
It solves the double sending problem in the digital goods field, to say in simple words if you have an mp3 file on your computer, you can copy that file a thousand times to send it to thousand different people. bitcoin has a peer to peer network and has each transaction stored in a public ledger called the blockchain.
Suppose one send 1 bitcoin from one’s wallet to one your friend Mark, so the bitcoin records that’s transaction in blockchain thus there is no longer bitcoin in your wallet and its moved to marks wallet.
One of the many specialties in being a bitcoin trader is that there is no middleman involved you can send bitcoin to anyone around the world, thus eliminating the middleman.
The only need here is bitcoin address and internet for sending and receiving bitcoin. You only need to be online for the transaction process to complete. You can receive bitcoins to your bitcoin address even when you are offline. But to “collect” bitcoin. you need an internet connection.
Here we can sell or buy directly without a third party application.
CFD Bitcoin Trading
CFD is defined as the process of making a future contract on the price of the particular trading instrument or asset. When you are trading CFD, mainly traders look at the long-term and short-term price. If you get a long-term contract that is when you feel the price is about to rise (BID), and if you get a short-term contract when the price comes down (ASK).Recently, there has been a drop in Bitcoin price after the south Korean exchanged was hacked a full review was given in the news. In this type of trading, you do not care about the actual asset or the value of the asset, all you look into is which direction the trade is taking you into.
In the CFD Bitcoin trade, you will have to register yourself and open an account with the broker who will connect you to the market.
If you have an experience with CFD brokers then stick to what you have developed and you feel that normal Bitcoin is what you’re looking for then you can move on with that
This is just a brief idea of what bitcoin trader and CFD Traders are.