5 ms·

I was the same. I tried to use BTC-e, Canadian one, and coinbase. None worked and took too long. So... I got a forex account and bought a position on BTC. It's

I was the same. I tried to use BTC-e, Canadian one, and coinbase. None worked and took too long. So... I got a forex account and bought a position on BTC. It's the fastest way in. Let me know if you want a referral. Also it's more liquid than buying actual BTC and then selling them I think. Just be careful about using leverage. I left finance in 2009. I never thought I'd get back into trading...

simonebrunozzi 13y ago
Interesting. Can you send me more info?
- taigeair 13y ago
  http://www.avatrade.com/ http://www.avatrade.com/ Put in $300 and they give you $300. I opened it yesterday got a position on BTC same day (would be fun to get real BTC though). You can buy .01 lot with $300.
  - gaadd33 13y ago
    How do they take a position in BTC? Or is it just a casino? i.e. if I put 50K into an account there and used it to buy $250K of BTC, that should have a pretty drastic impact on the market looking at mt gox's order books, does that actually happen?
    - taigeair 13y ago
      My understanding is they net it if someone takes an opposing position and if not, they hedge by buying contracts or BTC outright.
      - deleted 13y ago
        [deleted]
      - taigeair 13y ago
        I'm not sure if this works but if you want to help out, you can use this referral link: http://www.avatrade.com/?ref=38634 http://www.avatrade.com/?ref=38634
salient 13y ago
I'm not an expert in forex, but as far as I know, high volatility commodities can quickly wipe out forex accounts, especially with such low amounts. It does seem like a very interesting strategy though, that can probably make one even more money than investing directly in Bitcoin, but for that to work I think you need a sizable ($10,000?) amount, and only invest a few hundred dollars at most in that position. That way you can still make a lot of money if Bitcoin keeps increasing, but if it does happen to drop quite a lot, at least there's a much smaller chance of losing all the money.

simonebrunozzi 13y ago

Interesting. Can you send me more info?

taigeair 13y ago
http://www.avatrade.com/ http://www.avatrade.com/ Put in $300 and they give you $300. I opened it yesterday got a position on BTC same day (would be fun to get real BTC though). You can buy .01 lot with $300.
- gaadd33 13y ago
  How do they take a position in BTC? Or is it just a casino? i.e. if I put 50K into an account there and used it to buy $250K of BTC, that should have a pretty drastic impact on the market looking at mt gox's order books, does that actually happen?
  - taigeair 13y ago
    My understanding is they net it if someone takes an opposing position and if not, they hedge by buying contracts or BTC outright.
    - deleted 13y ago
      [deleted]
    - taigeair 13y ago
      I'm not sure if this works but if you want to help out, you can use this referral link: http://www.avatrade.com/?ref=38634 http://www.avatrade.com/?ref=38634

salient 13y ago

I'm not an expert in forex, but as far as I know, high volatility commodities can quickly wipe out forex accounts, especially with such low amounts. It does seem like a very interesting strategy though, that can probably make one even more money than investing directly in Bitcoin, but for that to work I think you need a sizable ($10,000?) amount, and only invest a few hundred dollars at most in that position. That way you can still make a lot of money if Bitcoin keeps increasing, but if it does happen to drop quite a lot, at least there's a much smaller chance of losing all the money.