Ever since bitcoin came to existence, its volatility in price is a major issue that is affecting everyone who is dealing with it. For some it is the way of profit while for others it can result in tremendous loss of investment and hence putting money in it is a rollercoaster ride for people involved in bitcoin trading, making bitcoin price an essential factor in the space. However, by delving deeper we can understand that there are some other factors that are equally important for a cryptocurrency to become a fiat currency like bitcoin.
Other factor affecting cryptocurrency expansion.
Bitcoin volatility is an important factor that affects its wide acceptance among investors however below are some other features needed by cryptocurrency to become a globally accepted fiat currency.
Scalability: today, bitcoin landscape is expanding rapidly with the fast-growing user base trading in cryptocurrency. This user base is followed by increasing number of daily transaction and thus increasing its scalability.
But, unfortunately with the blocks in bitcoins, limited in size and frequency has raised the scalability issue, limiting the daily transaction speed.
Low transaction fees: transaction fees are the total fees that the spenders may include for every bitcoin transaction. However, to keep it low, it is important that the difference between the amount spent in bitcoin mining and amount received in bitcoin exchange must be zero. Also, the miners are able to process every block depending upon the fee set by spenders and this makes bitcoin space totally depended on transaction fee.
Future scope for bitcoin trading:
When we think about the bitcoin current state and features that are responsible for it, Bitcoins price is the first thing that we consider to hold the responsibility. However, it is not true when we over view the above-mentioned features of bitcoin that are equally affecting the current scenario in the bitcoin market.
Moreover, the factors affecting this cryptocurrency scalability to become a fiat currency in the market are quite extensive and understanding these factors will help us predict what in-store in the crypto world.
Elsecoin is the South African bitcoin exchange platform that is 24/7 ready to assist with all bitcoin and other cryptocurrency exchange services.
Bitcoin trading is not much different than stock trading and you can just as easily purchase and sell them. bitcoin is virtual currency just like other regular currency allows you to trade goods and services but unlike them, bitcoin works on Blockchain technology that makes it, decentralized. This indicates that it is not issued, controlled or owned by any single authority. The transaction on each block is verified by the computers.
The problem with bitcoin was the transaction speed. It takes about 10 minutes to process a transaction which is far more than when compared to bank credit cards speed. This has influenced the data miner all around the world to look for the substitute fork for bitcoin.
There are three different types of trading that you can look into and choose from. Day trading avails multiple trading throughout the day to ensure the exploitation of short-term price movements for optimum profit. This type of trading goes on throughout the day and closes at the end of the day. Scalping is another similar day trading method that avails trading for a substantial profit on smaller price changes. It offers short-term trading on limited risks and is perfect for bitcoin trade enthusiast who wants to deal with hundreds of trades in a day. The last one is swing trading which is a long-term trade based on the larger picture. This trade stays open for weeks and months, navigating the price movements until and unless they reach the desired rate.
To start your very own bitcoin trading process, you will need a bitcoin exchange. A bitcoin exchange is an online website that will connect you with the right buyer or seller automatically, according to your needs. While a bitcoin exchange will charge a higher fee, they also offer numerous advantages features and protective services. The trading process can be a bit of a security hazard if the necessary precautions are not implemented. You might also need to utilize an online wallet to store all your bitcoins. You can store it on your computer with a backup but it is much safer to keep it in an online wallet.
Trading with cryptocurrencies has gained such popularity mainly because of the numerous benefits including decentralized valuation, high leverage, lack of transaction cost, low cost of trading, and so much more. But all these advantages depend on an effective and efficient bitcoin trade process. You must learn to read the price graphs and understand the resistance and support levels to start your trading process.
south African bitcoin exchange and bitcoin price South Africa buy bitcoin online in South Africa from elsecoins.com we are the new bitcoin exchange platform where you are trading sale and buy your BTC coins online we provide low exchange rates as compared other exchange you can protect your bitcoin trades online.
Get all the update of Bitcoin price in Zimbabwe and we have deep understanding of the market. People can come to us for Bitcoin investment! We have years of experience in Cryptocurrency market and initial coin offering (ICO) so we can help you to know the status of Bitcoin in Zimbabwe. We also help you to search the most reliable Bitcoin Exchanges in Nigeria to sell and buy the bitcoin in Uganda market. We have all the answer regarding ‘’ Does bitcoin work in Nigeria.’’
we provide platform where you can buy bitcoins and also check the current bitcoin value and current bitcoin price in South African Rand.
Probably one of the most talked about topics on markets in 2018 is Bitcoin. With thousands upon thousands of people being drawn into investing in Bitcoin with the lure of making exceptional returns in a very short period of time. The graphic below takes a look at the share price history of Bitcoin in both South African Rands and US Dollars. For those not comfortable playing with the interactive chart above, the two images below shows the price movement in Bitcoin for the Year to Date and for the last 30 days.
And in both instances it is clear that it seems to be an uninterrupted price increase in Bitcoin. Such behaviour is extremely unhealthy and regular corrections are required in order to sustain long term price growth, as corrections weeds out speculators and chancers. Latest news in the Bitcoin world, is that Bitcoin futures will be launched soon, which will allow market participants to bet against the rapid price growth in Bitcoin, making market participants in Bitcoin weary that the big expected bursting of the Bitcoin bubble might be fast tracked with the introduction of these futures.
The above numbers clearly shows the extraordinary growth in the price of Crypto trader south Africa, even though it is not regarded as a means of exchange or a store of value in any large number of countries which makes us believe this is arguably the greatest asset bubble in history and when it pops it will be brutal and severe and a lot of people will lose all of their life savings as they keep jumping into it hoping to achieve the same kind of growth in future as Bitcoin has in the past.
We do not advise readers to invest in the Cryptocurrency Exchange South Africa frenzy as the likelihood of losing money increases every single day the price keeps rising, based on a limited store of value for Bitcoin, and not exactly a lot of places that it can be used as a means of paying for goods. India has for example warned numerous times that it does not recognize Bitcoin as a legal from of tender. In addition to this the fact that the currency is not regulated makes governments nervous as it provides an easy way for individuals to launder illicit money.
South Africa Bitcoin Exchange therefore predict that governments across the world will soon step in to regulate it to some extent, which will have a significant impact on the price of crypto currencies. Another worry is the fact that the cost of "mining" Bitcoin is extremely expensive and the operating systems used to run these crypto currency mines draws enormous amounts of energy, so the question becomes is it a viable way of earning a living when the cost of running such Bitcoin mines might far outweigh the reward of mining it. Bitcoin price south Africa is R134 741.45.
You may be surprised to know that you can use Bitcoin Trading South Africa
Here are some of the stores that you can use your bitcoin price zar at:
1. Runway Sale is the largest fashion online shopping club in South Africa. They offer up to 70% affordable designer’s brands that you have exclusive access to. The sales last for online a few days and the stock is limited, so you have to be early to get the best choices.
Earthchild Clothing is a proudly South African national retailer and design house that offers clothing that is natural and made of organic cotton of the best quality and comfort. It will also help to Buy Bitcoin in South Africa.
This company is the biggest smart device repairers in South Africa. weFix, formerly known as iFix, repairs and services all Apple products an some Samsung devices. the devices range from iPods, iPhones, to Macs as well as Samsung smartphones and tablets.
This online shopping is the biggest e-commerce retailer in South Africa. Takealot boasts of a large product variety that is split into 23 departments. When paying with bitcoin on Takealot select instant EFT when you checkout to pay for your purchase with bitcoin.
5. Cape Coffee Beans
Cape Coffee Beans is an online store for the coffee lovers in South Africa. This online shop is the answer to all your coffee needs. You can pay here from Crypto coins South Africa.