Cryptocurrency Exchange VS Forex Broker – Which Is Better For Trading Bitcoin?

Cryptocurrency Exchange VS Forex Broker – Which Is Better For Trading Bitcoin?

Cryptocurrency Exchange VS Forex Broker
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Bitcoin has seen phenomenal growth in popularity and value over the last decade. Despite this, Bitcoin is still considered to be in its early stages according to the vision set out by its creator’s.

As well as being an alternative currency for the purchase of goods and services, Bitcoin has also become an instrument for traders looking to make large returns and grow their accounts. Its rapid price increases and volatility have only bolstered that and is even drawing in individuals who have never traded before. Bitcoin has the potential to become a new major world currency and people are investing their money on the hope that it will.

Of course, whether Bitcoin becomes the ‘future of money’ or not isn’t the be all and end all for well-informed traders. Bitcoin certainly has some impressive technology behind it; however, the top priority for traders is simply to profit from its price movements. Traders can look to profit from Bitcoin if it succeeds or if it fails, either way, strong trends are bound to occur.

Where can you trade Bitcoin?

There are basically 2 main options you have for this as a Bitcoin trader, they are:

1 - Cryptocurrency exchange

2 - Online Forex broker

At a cryptocurrency exchange, you will buy and sell actual Bitcoins whereas through a forex broker you will trade a Bitcoin CFD (contract for difference).

I believe that online forex brokers are the best option for trading Bitcoin and will cover this today. I will outline the differences between the two and my reasons for this judgment.

Advantages of trading Bitcoin with a forex broker

Regulation – Reputable forex brokers are fully regulated so you know they have to operate responsibly and with professionalism. They will keep your funds in segregated bank accounts so they are always protected. Cryptocurrency exchanges, on the other hand, are completely unregulated. If a cryptocurrency exchange goes bust or closes down the protection you have may be very limited

Simplicity – This is a big one for me. Setting up a cryptocurrency account and getting started trading is certainly a complicated process, there’s no doubt about that. First, you will need to find an exchange that accepts residents from the country you are from. You then need to find a way to deposit funds into that account, which can be surprisingly difficult. I’ve even heard in some cases that traders will open a new bank account just so they can make deposits into their cryptocurrency exchange account.

What you will find with most traders that use cryptocurrency exchanges is that they have multiple accounts with different exchanges. They then use each account for different reasons. One could be for deposits, one for buying Bitcoin, one for margin trading, and one for short trades and so on.

It’s a totally different story trading Bitcoin with an online forex broker. You can set up an account in minutes if you do not have one already. You can then deposit funds into your account using your preferred currency and any Bitcoin trades you make will be automatically settled back into your chosen currency.

Hidden fees and charges – This leads on nicely from the topic before. With an online forex broker, it’s free to open an account, free to deposit/withdraw your funds and there are no commissions Bitcoin trades. Your only expense when trading Bitcoin through a forex broker is the spread. This makes it much easier for a trader to manage their money and keep track of their expenses.

When using a cryptocurrency exchange there seem to be fees involved every step of the way. You will often pay fees depositing into your account, fees withdrawing, fees exchanging currencies, fees purchasing Bitcoin, fees transferring Bitcoin and commissions on trades. All these different fees can be costly and make keeping track of your expenses a complicated and time-consuming process.

Professional tools and platforms – Trading Bitcoin through an online forex broker will give you access to professional tools and platforms like the award-winning MetaTrader platforms. MetaTrader 4 and 5 allow traders to apply all different kinds of indicators and analysis tools helping to enhance your performance. They also allow you to trade directly from the Bitcoin charts.

The charting tools available on many cryptocurrency exchanges are lower quality with traders often using the exchanges only to place their trades. They will then use separate platforms for their charting and analysis requirements.

Maximum opportunities – Again trading through a cryptocurrency exchange can be complicated if you have certain requirements. Not all cryptocurrency exchanges will allow shorting and some will not provide leverage or margin.

When trading Bitcoin with a forex broker you have access to leverage and margin allowing you to trade at the size you want. You can also trade both long and short on Bitcoin trades enabling you to capture trends in either direction. If you are already a forex trader, staying with a forex broker allows you to keep all your funds in one place and monitor both your forex and Bitcoin trades at the same time.

Cryptocurrency Exchange VS Forex Broker Overview

What the future holds for Bitcoin nobody knows. What we do know is that it’s more than likely going to be eventful. Whether Bitcoin sees further success or eventual failure, opportunities will arise for traders no matter where they decide to trade it. If you are looking to use Bitcoin for purchasing goods and services then this is a different situation to what we’ve covered today. When it comes specifically to Bitcoin trading, I do feel that overall forex brokers currently provide the best, easiest and safest option.

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15 Things That Need To Be Invented Now

The next round of needed life hacks.
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For Millennials, life is constantly being made easier. Compared to our parents' generation, almost everything about the way we run our day-to-day lives has been modified for speed, simplicity, and convenience. You want a cup of coffee? Here, have an instant cup of hot coffee at the push of a button! Missing your friend across the country? Call them with your smartphone, see them instantly! You can Google virtually any question, there is an app for every want and need; each step of the way Millennials are working to make things easier. I have a few ideas to contribute:

1. Extending USB cord: There must be USB plug that can stretch. The way a dogs leash will release more cord as it is pulled on, there needs to be a cord that can stretch as I roll over in bed without pulling the plug out of the wall. The struggle of being attached to a wall is too great.

2. Closet Organizer App: Some mornings you wake up and wonder how it was ever possible that you once found a decent looking outfit in your closet. Other days the prospect of having to dress yourself is just too much. There needs to be an app that can record what is in a closet and make an outfit, for any event, at the ready, similar to what Cher Horowitz has in Clueless.

3. Hangover Curing Drink: Stronger than Gatorade, better for you than pumping your stomach with Advil and water, and putting an end to the old "flu" excuse at work. A foolproof drink that can give everyone what they need to get up, pick their dignity off the floor, and soldier on. You all may thank me later.

4. Rent-A-Boyfriend: Have you ever had one of those weeks where you just need someone to bring you chocolate cake in bed and tell you you're beautiful? Maybe you really can't figure out how to build all the new Ikea furniture for your apartment and you are incapable of rounding up a guy friend to do it. Either way, the ability to rent a boyfriend on a needed basis would be quite handy. Think of all the stuff they could do for you, then you get to return them when you're done! It's like a dream.

5. Parking Tracker: What is it about parking garages that suddenly make everyone's memory go blank? Whatever the reason for the world's inability to keep track of their cars once stationary, it needs to be resolved. Too many minutes are lost aimlessly wandering the garage carrying heavy shopping bags. Please, someone invent a tracking app for your car, so that you can remember exactly where you parked and follow the map directly to it.

6. Forever-Hot Coffee Mug: I'm not sure what type of wizardry would be required to create a coffee mug that can abolish the awful lukewarm state that coffee turns into after such a short period of time, but someone needs to discover it. Long nights of studying and hours-long brunches of switching between the mimosa and the sweet nectar of the Gods will be forever changed by never again fearing cool coffee.

7. Teleportation Pad: The year is 2015; I was promised a flying car. In lieu of the flying car -- I am willing to accept teleportation pads. Think about travel becoming as easy as "stand here and click that button." Imagine not having to bother putting on a bra to go from your apartment to your friend's apartment for wine night! This could be revolutionary.

8. Sassy Siri: Every girl could use someone to help them come up with the perfect come back in a pinch, and who better than Siri! With her constantly involved in your conversations, it would be easy to just ask Siri for a little sass-assistance the next time your best frenemy mocks your highlights.

9. Compliment Earrings: If you have never seen Aquamarine, go rent it now. For those who recall, the star fish earrings were "notorious suck ups" to the girls who wore them. Imagine going through a tough day, when unexpectedly you are given a compliment! Talk about a great mid-day pick up.

10. Food Printer: My stalking of Pinterest food pages has progressed from a mild addiction to a full blown problem; I always find I want the things I see in the pictures immediately. I want to be able to hit print on one of the pictures and have those lemon-blueberry iced cupcakes in my kitchen right then.

11. Necklace De-Tangler: Ladies across the country lose thousands of necklaces to tangled knots. Chains break, two beautiful separates become one big mess, and before you know it your jewelry box is empty! There must be a machine where one could drop their knotted necklaces and have them come out the other side in perfect condition.

12. Hot Slippers: On a cold Monday morning when walking around the kitchen, debating which is worse, waking up or being awake, it would be nice to be comfortable. Nice pajamas are all well and good, but a fuzzy pair of slippers that can become warm? That is the dream. There is no morning too grey or hangover too intense that would not be cured with these slippers.

13. Calorie Rewind: There needs to be a way to take back that entire pepperoni pizza you ate last night. Whether you were not in the proper state of mind to be making that decision, or even if it was emotional turmoil over exams; it shouldn't count. Perhaps the next big thing in weightloss is a pill that allows you to take back a meal. A way to go back in time and undo that embarrassing trip to the doughnut shop down the road in favor of a more healthy alternative? Not a bad idea.

14. Sleepy-Time Studying: How awesome would it be if you could fall asleep with headphones in and wake up knowing an entire textbook? Humans spend an average of 26 years sleeping-- there should be a way to put that time to good use. A way to absorb the information while you sleep should be the next big invention. It would be the perfect cure to the all nighter!

15. Decision Making App: Desperately struggling to pick where to go for dinner? Unable to decide whether to go out or stay in? Unsure of whether it's a day for heels or for flats? These are the everyday questions faced by thousands of Millennials. We need to find a cure for the indecisiveness. An app that takes the guess work out of meaningless day to day questions such as, "Do I want a grande or a vent?" (Or I suppose you could just flip a coin...)

Bonus 16. Articles That Write Themselves: I wish I had a magic box I could give an idea to and it would instantly put print out the article I am trying to write.

Cover Image Credit: giphy.com

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Starbucks Just Opened Its First-Ever Sign Language Location And We Are SO Here For It

Complete with the cutest mugs we've ever seen.

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On October 23rd, Starbucks opened their doors to the first ever U.S. signing store in Washington, D.C. In addition to the 20 to 25 people who are all fluent in American Sign Language, this location features lower tables, lower ordering counters, brighter lights, no background music, and larger text sizes, to accommodate for easier communication between baristas and customers.

Along with these features, the Washington, D.C. store, located in an existing Starbucks, includes tablets for customers to write their orders and screens to alert customers when drinks and food items are ready.

Aesthetically speaking, the new location will feature brighter lighting and many displays of ASL artwork. These original touches include "Starbucks" written in sign on aprons and in the window, a mural meant to encapsulate and celebrate deaf culture, and mugs designed by a deaf artist.

An article from Starbucks Newsroom says that there will be "a variety of enhancements to support the Deaf and hard of hearing partner and customer experience. Deaf baristas will have ASL aprons embroidered by a Deaf supplier, and hearing partners who sign will have an "I Sign" pin."

These are all initiatives put in place and sponsored by the Deaf Leadership of the Starbucks Access Alliance.

Store Manager Matthew Gilsbach, who is deaf himself, told Washingtonian in an interview, "We often talk about being the third place. We are your third place, you have your home, you have your work, and then you come here for a break between those two things to enjoy your day and your coffee," says Gilsbach. "So too does the deaf and hard of hearing community. And now they have direct access to other options for their third place. They don't have to feel isolated. Deaf and hard of hearing people have a place to come to call their own."

Starbucks has a history in both the positive and negative lights for getting involved in the news, and this store, creating opportunities for Deaf and hard of hearing customers, is yet another step in the right direction.

To find out how to sign your Starbucks order, Manager Matthew Gilsbach offers some tips here:

To all the pumpkin spice latte fans out there...

Starbucks Manager Matthew Gilsbach signing "pumpkin spice." Washingtonian

For all my friends who just like coffee...

Starbucks Manager Matthew Gilsbach signing "coffee." Washingtonian

And if you're trying to be polite...

Starbucks Manager Matthew Gilsbach signing "please and thank you." Washingtonian

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