Bitcoin is the new currency. If you have been surfing on their website, you must have come through the term bitcoins. Bitcoin is a digital currency which is produced using computer algorithms. The bitcoin was developed in 2009 as a result of the global financial crisis. The developer intended to mitigate the risks associated with the normal currencies by introducing a digital currency that was free from government regulations but accepted worldwide. Although the value of bitcoins has exploded over the years, credit cards remain reliable and convenient over them. Here are some of the reasons why credit cards are not going away presently or in future.
Credit cards carry important customer data which is embedded in the magnetic chips. On the other hand, bitcoins lack customer data. Hence, information provided in credit cards can be analyzed for the purpose of coming up with tailor-made financial services, unlike bitcoin where the owner remains anonymous.
Link with Customers
Credit cards link customers with sellers. A seller can gather information regarding a customer and determine the specific products he or she has purchased. This is not the case with bitcoins because the seller does not have access to information about the profile of the buyer.
Given that bitcoins can be used discretely, they could be used to carry out criminal activities. Users can use the crypto-currency to pay illegal services such as hiring hit-men, paying terrorists and demanding for ransom. However, with credit cards, such activities have been deterred. A buyer who uses a card for criminal activities can be traced to their doorstep because user information is recorded when one is offered the card using a legal identification card.
Ease of use
Undeniably, a majority of people do not understand how bitcoins work. The process of acquiring bitcoin is hectic and understandable to a few. On the other hand, credit cards are easy to use. All one needs to know is how to pay for services and access money.
Credit cards are reliable because they have been accepted worldwide. However, people are adamant to use the bitcoin because there is no entity that regulates how they are traded. Besides, the volatile nature of Bitcoin makes it a less ideal method of transacting. A lot of people are also adamant to embrace the bitcoin. Hence, the credit card will continue to exist despite the much-publicized use of bitcoins.
There are so many forex brokers in the market because this is one industry that is very profitable. Choosing the right forex broker is usually not easy for most people because of the many forex brokers. Since the forex trade involves a lot of cash, it is important to be careful so that you do not lose your cash. However, with the right tips, you can easily choose the ideal forex broker. Let us now explore the crucial things to consider when looking for a forex broker.
Security should be paramount when looking for a forex broker. The forex broker that you choose must have the highest level of security. You must ensure that you are handing your thousands of dollars to someone who is legit. Luckily, checking whether a particular trader is legitimate or not is easy. There are numerous regulatory bodies all over the world that you can quickly check and ascertain whether one is their member. Before hiring a broker, make sure that he is a member of a regulatory body in the country of operation
The primary objective of all businesses is to make profits. They make profits by minimizing their expenditure and increasing their sales. It is critical to note that there are transaction fees that you will incur in the forex trade. Since you want to make profits, ensure that you select a broker that has the most competitive rates since you want a great profit margin. It is critical to note that for every trade that is conducted you will have to pay for a commission. Therefore, you should look for the cheapest and the most affordable rates. Choose a forex broker who will find the right balance between low transaction costs and security.
Deposits and withdrawals
Make sure that you choose a forex trader that you can easily deposit and withdraw your cash with fewer hustles. Some brokers will give you hell when you try to withdraw your earnings. There are no reasons as to why the forex traders should make it difficult for you to withdraw your cash since their primary responsibility is to aid you in trading. Choose a broker who has smooth and speedy deposits and withdrawal methods.
Last but not least, look at the trading platform. Most of the financial activity usually happens on the trading platform of the forex trader. The trading platform must be stable and user-friendly. It should have a free business news feed and the charting tools. All information that is related to the trade should be presented in a way that you best understand. Kindly click here for the additional information about Forex Brokers.