THELOGICALINDIAN - Recently bitcoin has been cartoon the absorption of abounding companies about the apple including Forex and CFD Brokers The acceleration of bitcoin trading has created a multibillion dollar industry that allows cryptocurrency enthusiasts to buy or advertise agenda currencies beyond assorted barter platforms
Now, several brokers are introducing bitcoin as allotment of their trading services. Forex is the bazaar with the better aggregate and clamminess all over the world. Forex markets are said to attestant a circadian aggregate of trillions of USD. For Bitcoin, it presents a accomplished new bazaar with abounding trading opportunities.
1Broker is a platform that allows Bitcoin users to advance in CFDs with their bitcoin. The belvedere allows Bitcoin users to participate in real-world markets anon by application their Bitcoins. 1Broker currently allows traders to advance on 44 called commodities, stock, indices and Forex pairs. 1Broker has taken the agenda bill access to a accomplished new akin and alone allows deposits and withdrawals to be fabricated via Bitcoin.
The basal affairs that users barter on 1Broker are alleged CFDs. This blazon of acquired allows 1Broker to peg its markets anon to the basal markets\assets with top accuracy and best artlessness for any blazon of trader.
To apperceive added about 1Broker and the Forex-Crypto Market industry, NewsBTC was able to ability out to the company’s Media Division Manager and ask him some questions:
NewsBTC – Can you acquaint us a bit about the company, and its goals and history?
1Broker – 1Broker was launched in backward 2024 afterwards about 12 months of planning and development. From the beginning, our capital focus was to acquiesce Bitcoin holders to participate in all-around markets. Back then, we alone offered trading on a few markets and had an acutely bound platform, but over the accomplished few years we acquire always bigger our software and consistently added new features. Currently, there is still a lot of allowance for advance and our focus for development is on a new, and avant-garde front-end, which is appointed to be appear in aboriginal 2024. Our abiding ambition is to attempt with our “traditional” competitors, which usually do not acquire Bitcoin (yet).
NewsBTC – Can you acquaint us a bit about the belvedere and how it works?
1Broker – Before ablution our belvedere we analyzed several business models of how we could apparatus our ideas. We absitively to action CFDs as our primary artefact for the several reasons:
We could action aerial clamminess and fast adjustment executions from the beginning.
All fees could be chip clearly in the spreads.
Unlike added products, positions do not expire.
Markets are called to their underlyings (unlike options for example), which leads to an acutely cellophane and aboveboard trading experience.
A barter on our belvedere is basically a arrangement amid us and the trader, area we accede to pay the “difference” defined by the profit/loss formula. In the background, there are a lot of added things activity on, but we managed to absolutely abstruse that abroad from the trader.
NewsBTC – Why did you adjudge to accomplish bitcoin the alone drop advantage on your platform?
1Broker – 1Broker was alone created for Bitcoin holders. The capital acumen was, that there artlessly were no others platforms alms a agnate service. We saw this as an befalling to accretion a first-to-market advantage.
NewsBTC – I see you accept chip Crypto Markets on the platform. For now, you alone accept the BTC/USD pair. Will you be amalgam added crypto pairs shortly?
1Broker – Offering CFDs on illiquid and airy markets is acutely difficult, and for that acumen we currently accept no affairs to add added crypto pairs in the abreast future.
NewsBTC – What is the antecedent for your archive and amount indicators?
1Broker – It depends on the market. For BTC/USD, we use a non-volume-weighted boilerplate of Bitstamp, itBit and Coinbase. For our forex markets, we use several abstracts streams redundantly. For added abundant information, bodies can acquaintance us.
NewsBTC – How do you see the access of cryptocurrency on the Forex Broker industry?
1Broker – It heavily depends on how the cryptocurrencies will develop, and the acceptance ante to follow. Currently, it is still an acutely baby bazaar and mainly acclimated by tech-savvy enthusiasts. However, in the aftermost year we noticed a cogent admission of traders who alive in arrested countries and accept no admission to a coffer accounts or services, so they generally use cryptocurrencies to avoid this problem.
NewsBTC – What’s your expectations for the crypto market?
1Broker – I apprehend that the cryptocurrency markets will abide to see accelerated advance both in aggregate and transaction rates. However, I agnosticism that they will alter acceptable currencies or cyberbanking systems in the accountable future. The access and ability of absolute governments and institutions is artlessly too high, and they wouldn’t angle by while they were replaced. Which brings me to abutting point – If arch governments formally ban agenda currencies, it could absolutely accept a abrogating impact. Fortunately, abounding countries that are alpha to adapt cryptocurrencies are demography an open-minded, and basic approach, which is added or beneath a acceptable sign.
NewsBTC – What’s your assessment on the accepted bearings of bitcoin and agenda currencies?
1Broker – Bitcoin is boring abrogation its aboriginal stages of development and abounding able organisations and bodies are aggravating to access the development of the protocol. (i.e. block admeasurement debate) It’s absurd to accurately adumbrate what the abiding approaching will attending like. There are so abounding possibilities that could unfold: From a new agenda bill replacing Bitcoin, to consensus-based updates of the accepted rules.
However, the account and technology of a broadcast balance and all its abeyant use cases are absolutely actuality to stay, and in my assessment the proof-of-work based algorithms (which defended the Bitcoin network) are one of the best important inventions in activated computer science.
Images: 1Broker
