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What is Bitcoin?
Bitcoin is the world’s first digital currency and it is expanding in popularity worldwide. With FX trading and the Meta Trader 4 platform you can trade this rapidly growing currency against the US Dollar 24/7. Many traders prefer to trade Bitcoin derivatives due to this asset’s highly volatile nature, which makes it ideal for CFD trading online.
Why Trade Bitcoin with AvaTrade South Africa
- Uncompromised Safety – With six regulatory authorities and segregated accounts, your money is protected at all times.
- Many Cryptos to Choose From – Trade on the wide variety of cryptos available on our top trading platforms.
- No Hidden Fees – We offer zero commissions and no bank fees on transactions!
- Bitcoin Never Goes to Sleep – AvaTrade ZA is one of the few brokers offer around-the-clock service and support in 14 languages.
- Generous Leverage – Increase your initial capital with generous leverage and get far more exposure to trade than your account balance. Up to
- Limit Your Risk – You can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like Buy Stops and Buy Limits are also available.
- Trade Cryptos Against Fiat Currencies – Unlike many exchanges out there, who are restricting their clients to trade only Crypto to Crypto, our clients can trade Cryptos against Fiat currencies (USD, EUR, JPY etc.), as well.
How to Trade Bitcoin CFDs in 4 Easy Steps
- Open a trading account with AvaTrade ZA
- Fund your account
- Fill in your preferred investment amount
- BUY (go long) or SELL (go short) Bitcoin
Bitcoin’s Rise to Prominence
Around 2008, Satoshi Nakamoto founded the first ever cryptocurrency, Bitcoin. At the time, a paper explaining its mechanics and the ideology behind it, was published through the Cryptography Mailing List.
The first Bitcoin software client was released in 2009, and Nakamoto collaborated with many other developers on the open-source team, never revealing his identity. By 2011, the enigmatic Bitcoin founder had disappeared. His peers then, understood how valuable this cryptocurrency was and worked feverishly to develop it to its maximum potential.
By October 2009, the world’s first Bitcoin exchange was established, and by November of that year 4 million Bitcoins had been ‘mined’. At the time, $1 was the equivalent of 1,309 Bitcoin – a fraction of a penny. Considering how widely Bitcoin fluctuates, that was a real steal: it hit the $10,000 mark within eight years.
And so, the rise of the Bitcoin begun…
Bloomberg, an institution in the financial field, recently has brought the attention on the new Bitcoin rising in one of his tweets:
— Bloomberg Crypto (@crypto) December 30, 2020
How Bitcoin Became So Popular
Bitcoin was the first digital currency to be created. It is also the most respected, capitalised and traded cryptocurrency in the world. Cryptocurrency trading allows for maximum yield when it is volatile, due to its many ups and downs. This is precisely the reason global traders enjoy Bitcoin trading.
The media plays a big part in Bitcoin’s volatility. Whenever a breaking story surfaces, Bitcoin starts to fluctuate and traders have the opportunity to cash in. History has shown that Bitcoin traders and speculators routinely push this digital currency to the forefront of CFD trading.
It is increasingly being used as the preferred payment option for merchants, money transfers and trading purposes. Bitcoin enjoys widespread popularity as a financial trading instrument, despite no association with governments or central banks.
Bitcoins are mined with powerful computer hardware and software. A maximum of 21 million Bitcoin will be available, after which no further bitcoins will be produced. The algorithm which governs the production of Bitcoin limits the quantity that will be produced, and the rate at which they will be produced. It is a finite commodity – there is a fixed amount, and that ensures that greater demand will always prop up the price. In this way, it is similar to other finite commodities such as crude oil, silver, or gold.
Bitcoin in the News
- November 2012 – WordPress started accepting bitcoins
- July 2013 – Launching of a joint project in Kenya, linking bitcoin with M-Pesa, a popular East African mobile payments system.
- September 2014 – TeraExchange, LLC, received approval from the U.S. Commodity Futures Trading Commission to begin listing an over-the-counter swap product based on the price of a bitcoin, marking the first time a U.S. regulatory agency approved a bitcoin financial product.
- March 2016 – The Cabinet of Japan recognised virtual currencies like bitcoin as having a function similar to real money.
- August 1, 2017 – First fork in Bitcoin was created: Bitcoin Cash
- October 24, 2017 – The second fork in Bitcoin was created: Bitcoin Gold
- December 10, 2017 – Cboe Futures Exchange (CFE) starts offering Bitcoin futures trading
- December 28, 2017 – Third fork in Bitcoin created: New coin on SegWit2x chain called B2X
Need Help Trading Bitcoin?
AvaTrade South Africa offers you the opportunity to Buy (go long) or Sell (go short) on all Bitcoin trades. This service is available to you 24/7. You can use your preferred trading strategies to buy or sell Bitcoin regardless of which way the currency is moving.
We encourage you to learn more about Bitcoin trading by visiting our Trading Conditions & Charges page.
Please note: The cryptocurrencies market’s high volatility offers endless trading opportunities.
Open a trading account in 1 minute or try our risk free forex demo account
Due to price fluctuation, certain crypto pairs may be suspended and/or removed from our trading platforms periodically.
When trading with AvaTrade ZA you are trading on the price changes of the digital coin, and not physically purchasing it.