Bitcoin's popularity continues to skyrocket, making it a high-value cryptocurrency in recent years. Many people are then interested in Bitcoin because they want to use it as a trading or investment asset. But did you know? Bitcoin can not only be traded as it is also a highly efficient and cheap payment method. This is why several forex brokers offer deposits with Bitcoin.
What are the Benefits of Forex Deposits with Bitcoin?
Before the arrival of Bitcoin, payment methods at forex brokers were already very diverse. There are Wire Transfers, Credit Cards, and e-currencies that can provide instant withdrawal deposits with low fees. Additionally, deposits via local banks are already available in certain brokers. So what makes Bitcoin better than all of those payment methods?
- Bitcoin technology is supported by Blockchain, making transactions safer, faster, and at lower costs.
- The Bitcoin payment system does not use third parties, so the process is clearly more efficient than other online transaction methods.
- Bitcoin transactions are encrypted in a cryptographic system that provides a high level of privacy protection. You don't need to worry about the risk of data breaches in Bitcoin deposits.
So for those of you who already have a Bitcoin Wallet, there's no harm in using that to fund your trading account. Here are some brokers that support such a feature:
OctaFX
OctaFX has joined the trend of crypto trading since September 2017. To complement this service, OctaFX provides Bitcoin deposit and withdrawal. Both transactions are processed instantly and without commission. However, there is a minimum limit of 0.00037 BTC for deposits and 0.00009 BTC for withdrawals.
In presenting a choice of payment methods, OctaFX is known to be very simple and informative Interested in this broker? Try opening an account by following the OctaFX Registration Guide.
InstaForex
InstaForex offers a wide choice of payment methods, including Bitcoin. With a processing time of only 3 hours and no fees at all, you can make forex deposits with Bitcoin at InstaForex. Meanwhile, Bitcoin withdrawals take between 1-7 hours with a fee of 0.5%.
InstaForex has been quite intensive in integrating Bitcoin and other cryptocurrencies. This can be seen from various Bitcoin trading features like analytical sections and exclusive charts. Furthermore, there are also Litecoin and Tether available for deposits and withdrawals. The conditions for both cryptocurrencies are not much different from deposit withdrawals via Bitcoin.
ThinkMarkets
ThinkMarkets represents an Australian broker that offers forex deposits with Bitcoin. First released in December 2017, forex deposits with Bitcoin are applied on a limited basis to clients who register with ThinkMarkets International (Seychelles offshore regulations etc.). So, if you open an account with ThinkMarkets UK and Australia, you can't make any forex deposit with Bitcoin due to regulations' restrictions.
Based on information on ThinkMarkets official website, deposits via Bitcoin can be processed instantly. Apart from Bitcoin, other crypto choices that can be used as deposit methods are Ether (ETH), Tether (USDT ERC-20 & TRC-20), Bitcoin Cash (BCH), Stellar (XLM), Litecoin (LTC), EOS (EOS), DASH (DASH), USDC (USDC ERC-20), XRP (XRP), Tron (TRX), and Binance Coin (BUSD).
Forex4you
Experienced since 2007, Forex4you is beyond doubt a reliable broker. Apart from competitive trading specifications for traders, this broker also provides deposit methods via Bitcoin and other crypto.
There are no fees applied for top-up transactions via Bitcoin. Forex4you traders can also process deposits starting from just $10. However, there is a maximum limit of $10,000 to consider. If you need speedy transactions, Forex4you can support you with instant Bitcoin deposits. You can also choose alternative cryptocurrencies such as Ethereum, Ripple, Litecoin, Tron, Tether, and USD Coin to fund your account.
Grand Capital
Shortly after announcing the addition of Bitcoin and 5 other cryptocurrencies into its trading instruments back in July, 2017, Grand Capital provides Bitcoin as a deposit and withdrawal method too. The commission fee for both transactions depends on the blockchain, and the processing time required for deposits is approximately 1 day.
What's more interesting is that the crypto used as payment methods at this broker are not only Bitcoin but also Ethereum and Tether. Thus, the types of currency that can be used in this broker are not limited to BTC, but also ETH and USDT.
The list of brokers above is just an example of forex brokers that allow Bitcoin deposits. Which one is the best can vary depending on your conditions and trading style. As a recommendation, it's a good idea to pay attention to important criteria in choosing a good broker.