Below is a glossary of terms that are used in the online trading industry. Select the first letter of the word you are seeking from the list above to jump to the appropriate section of the glossary.
What is Bitcoin?
Bitcoin is the world’s largest cryptocurrency and digital payment system. It operates using blockchain technology, which is a public ledger recording all transactions. While Bitcoin is completely unregulated, which might make some investors think twice, it has also proven to be extremely secure, as no hackers have succeeded in compromising the blockchain technology.
How does one use Bitcoin?
Using a hashing algorithm, “miners” can discover bitcoins, although there is a limited number (21 million) Bitcoins that will ever be mineable. Of the bitcoins already on the market and in circulation, they can be traded like any other asset, and many forex brokers – including Fortrade.com – do enable traders to trade Bitcoin CFDs on their platforms.