Bitcoin or BTC is a cryptocurrency or virtual money that runs under a peer-to-peer, decentralized digital currency system known as blockchain. Online users can process their transaction through digital units of exchange, such as bitcoins.
BTC (bitcoins) is the first digital money that was created in 2009 by an unknown Japanese programmer. The currency however did not look back after its creation and gained huge attention of business professionals, financial experts, investors, and money exchangers.
BTC has also been a subject of controversy as an alternative to traditional currency, such as US dollar, Australian dollar, euro as well as commodities like gas and silver.
In the period of 2011-2012, bitcoins rose to prominence by gaining over 300 percent. It then had a 400 percent growth in its value in 2013 which eventually led investors and financial firms to pay significant importance to the virtual currency.
Statistically, cryptocurrency like bitcoins or BTC is worth considering for investment. This however needs you to learn about BTC markets where you can trade in cryptocurrencies by selling or purchasing your coins.
What is a BTC Market?
A BTC market is basically an online bitcoin currency exchange that acts as an intermediate party between traders of virtual money. In other words, sellers can sell cryptocurrencies including bitcoins to interested users through their platform. Also, you can purchase digital currency from BTC markets like you buy foreign currency from foreign exchanges. Sell and purchase of cryptocurrencies involves some costs that you will need to pay to BTC markets for your transaction.
How BTC Markets Work?
As a bitcoin seller, you will need to deposit your cryptocurrency with the BTC market (exchange) address. You can then make use of your positive bitcoin balance in the market in order to sell your coins for traditional currency, such as US dollar, or other cryptocurrencies, such as Ethereum. Likewise, BTC buyers deposit US dollar with the market or exchange and use the balance to purchase cryptocurrency from sellers.
Although BTC markets are accessible worldwide, customers from Europe, Japan, and USA are the ones who have made the most out of these exchanges. As mentioned earlier, virtual currencies are not centralized, and so are free from all sorts of restrictions pertaining to local regulations. Different states however may have different laws for those who sell and purchase cryptocurrencies as well as for those who run these BTC markets.
By far, Asian and American BTC markets are the most dominating exchanges around the world for many reasons. One of the main reasons why these BTC markets are flourishing is that crypto trading is traditionally popular and has a much larger user base in aforesaid domains.
Today, there are several BTC markets or exchanges operate around the world where crypto traders can safely carry out trading process and make money on a regular basis. These include Bittrex, Binance, Huobi Pro, LuCoin, BitMex, Kracken, Bibox, and LocalBitcoins or (P2P exchange).
Primary Reasons for BTC Markets’ Popularity
When it comes to popularity, there are ten BTC markets or crypto exchanges that have largest market cap. Three of these exchanges are located in Hong Kong, two in South Korea and USA while one in the EU, China, and Japan each. Interestingly, we see the same pattern of top BTC market if we make a list of top 20 or top 30 cryptocurrency exchanges in the world. Bitcoin users from Australia do not have many options to pick from and there are only a few contenders in the BTC markets.
Many users also have several concerns regarding BTC markets, their fees, cryptocurrecny prices, BTC markets’ safety and relevant apps for smartphone. In fact, BTC markets have some basics to understand before you involve any exchange for cryptocurrency trading. For example, every crypto exchange or market works on blockchain technology and has their own goals to shape the future of business industry.
Security
The main reason for why these BTC markets are raising in popularity is the security and reliability they provide to every customer. They primarily endeavor to attract businesses as well as professional investors and traders. Moreover, most of these popular BTC markets have no restrictions or special requirements for anyone willing to buy or sell their digital coins. You will find them using modernized blockchain system to carry out all the transactions which further ensures the utmost security and reliability of each crypto trading made on these platforms. .
Variety of Cryptocurrencies
Having a wide range of cryptocurrencies for trading is another important reason behind the popularity of top BTC markets. Depending on your preference, you can choose between different cryptocurrencies, such as Litecoin, Bitcoin, Ripple, Bitcoin Cash, Ethereum, and Ethereum classis. They allow you to use all digital assets to trade either against local currency or bitcoins.
Outstanding Trading Features
In addition to security and variety of virtual coins, top BTC markets come up with a range of outstanding features for trading. Of course, these not only include bigger trading portfolio but also comprise a considerable number of altcoins to offers. This helps those traders who face difficulty when purchasing BTC for their local currency. If they want to use a foreign exchange, they have to pay high exchange rates between their local currency and US dollars and wait longer for wire transfers. Therefore, most top BTC markets offers the facility of altcoins for their users eliminating the need for going through the hassle of foreign exchange and long waiting times.
The main purpose of BTC markets is to provide crypto traders with a safe and reliable platform where they can sell and purchase their cryptocurrencies. Every BTC market needs you to create an account with them and deposit some balance regardless of your location and choice of the crypto exchange. If you are an investor, the best and least complicated way to invest in BTC is to by buying bitcoins from one of the reliable BTC markets. However, it is equally important to be aware of the terms and conditions of that exchange before using their service in order to avoid any surprises at the later stage.
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