Many traders in the foreign exchange market are accustomed to the standard understanding of its products, with which they are accustomed to trade. However, innovation progress does not stand still and in the global economy there are more and more new tools, to work with which the foreign exchange market should be prepared.

Bitcoin is a unique electronic tool that is an intangible payment unit. This currency is equivalent in exchanging goods or paying for services; it does not have a single issuing center. The immediate issue of a cryptocurrency, to which Bitcoin belongs, is limited in volume and time, since it involves a complex electronic process that involves the power of computer hardware. The work associated with the emission of Bitcoin (more precisely, Bitcoin in this case is a reward for the work) was called mining.

In its essence, Bitcoin is electronic money with the possibility of instant transfer, which can be done without the help of financial structures. Unique encryption mechanisms, servers scattered around the world – all this makes the currency invulnerable and protected from fraud, which makes the currency a very attractive tool in the eyes of traders.

Recently, Bitcoin is gaining popularity among traders. Indeed, two years ago, its value was calculated in dollars per unit. Instant growth up to 1000 cu, and then a sharp drop 5 times – isn’t this the ultimate dream of a gambling trader who knows a lot about the speculative market and is ready to make a profit from it? Today, in the foreign exchange market, traders offer a lot size within 100 Bitcoins (as of April 10, 2015, 1 Bitcoin cost about 230 USD) with a step size of 0.01 lots. Spread on such transactions is about 10 dollars. United States, the proposed shoulder size is 1: 5.

You can trade Bitcoins in real time on the spot market using the same principles as with regular currency. True, for this, a broker working with Bitcoin must have a special account and an electronic wallet. The risk of such trade is large enough, because, unlike conventional currency pairs, a fall in the rate triggered by a panic can be instantaneous, however, as well as growth.

Arbitrage trading can be a fairly popular way to earn Bitcoin. Sometimes there is a situation when a rather large difference in the buying / selling rate arises between the electronic exchanges, on which you can get income. However, the withdrawal of bitcoins at such a time can be difficult (information about quotes is freely available), which should be considered in a speculative transaction.

Buying binary options can also be a source of income. If the trader believes that after the expiration of the time for the option, the Bitcoin rate will be higher than the predicted level, then it makes sense to acquire such an option for the growth of cryptocurrency. And accordingly, if a decline in the exchange rate is predicted, then it makes sense to buy an option to lower the rate. If the trader is able to accurately predict the trend of the course, then he gets a fixed income in bitcoins.

As we can see, the new currency instrument, although much more risky, will completely satisfy the gamblers of the forex market. And if we consider that bitcoin gradually emerges cryptocurrency followers, then we can expect that in the near future currency pairs will give up part of the market to electronic money.

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