Nowadays, most traders choose to deposit using Bitcoin than fiat money. What are the benefits of using Bitcoin? Here, easyMarkets will discuss the pros of Bitcoin base currency in forex brokers.

bitcoin base currency

The topic of cryptocurrencies has been one of the most popular topics of discussion in the market over the past few years. Bitcoin, in particular, has emerged as the most valuable digital currency, and it is traded the most often. Its reputation in the industry, coupled with its extensive user base, makes it a popular option for those looking to invest in cryptocurrencies. One of the most vigorous and lucrative activities available to investors is using Bitcoin as a digital currency.

In this article, we will discuss the six advantages of Bitcoin as a base currency in easyMarkets. This broker uses the term "μBTC" to describe their Bitcoin-based account. It represents microbitcoin which is the smallest denomination of a Bitcoin and is equal to 0.000001 BTC.


1. Low Deposit

One of the advantages of using Bitcoin for deposit is that it typically requires a much lower minimum deposit. For example, easyMarkets allows traders to start with as little as $25 through its Standard account. This low barrier to entry has made Bitcoin base currency accessible to a wider range of people, including those who may not have had the opportunity to participate in forex trading before.


2. No Fee

Bitcoin transactions typically involve much lower fees than traditional currencies, as no intermediary banks or financial institutions are involved. This has contributed to the popularity of Bitcoin, as traders can keep more of their profits and avoid paying high fees to brokers. Forex brokers that offer Bitcoin base currency should also offer low-cost brokerage services to make the trading experience more affordable and accessible for their clients.

In easyMarkets, you can enjoy the service without fee when you open a μBTC account. They charge absolutely zero fees for deposits and withdrawals using Bitcoin.


3. Fast and Simple

easyMarkets don't exchange Bitcoin for fiat currencies, so traders won't have to worry about exchange rates that can fluctuate from time to time. This ultimately makes the deposits and withdrawals much simpler than other conventional methods considering how they usually need the role of a third party or financial institution.

Bypassing the conversion process also means faster transactions. While international bank transfers could take up to 1-3 business days, Bitcoin transactions only need hours or even minutes.

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Since 2001, easyMarkets have been writing their stories in financial markets. Simple, Honest, and Transparent, become three values that are carried on easyMarkets. The company has tried to make the process of trading as simple as possible.

They rebranded from easy-forex to easyMarkets in 2016. Over the years, easyMarkets expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. The company is licensed by CySEC and ASIC.

Another privilege when trading in easyMarkets is its own platform. easyMarkets platform is simple and versatile. Based on reviews from traders, it's friendly to new clients and hosts a lot of features for experienced traders. Clients also receive free guaranteed stop loss, no slippage, fixed spreads, and no funding or withdrawal fees from easyMarkets.

There are three uniques features in the platform. Firstly, dealCancellation gives traders the ability to "undo" their trade. easyMarkets is the only broker that offers a way to close trade before it reaches 60 minutes duration only with a small fee.

Furthermore, traders can enjoy the Inside Viewer. This tool gives traders a deeper understanding of market sentiment by showing them percentage of buying and selling executed in the platform. The third unique feature is Freeze Rate. traders can pause a rate and place their trade at the "frozen" rate using this tool.

easyMarkets also includes financial calendar, market news, trading charts, and trading signals as the platform's perks. They also offer the technology on the mobile interface via iOS and Android devices. Traders can access markets anywhere and at any time.

MetaTrader 4 is also provided by easyMarkets. When using this popular trading platform, traders will get negative balance protection and fixed spreads. Besides that, Vanilla Options is available in this broker.

Because of those innovations, easyMarkets is an award-winning broker, receiving Forex Broker 2019 by The Forex Expo-Dubai, Most Innovative Broker 2018 by World Finance Markets Awards, Best APAC Region Broker 2018 by ADVFN International Financial Awards, Most Transparent Broker 2017 by Forex-Awards, Best Forex Service Provider 2017 by FXWord China, and many more over the years.

Moreover, easyMarkets offers three account types, such as VIP Accounts, Premium Accounts, and Standard Accounts. All of them can be accessed by the Web/App and MT4 platform. easyMarkets provide maximum leverage at 1:200 when using easyMarkets Web/App platform, and maximum leverage of 1:400 when using MT4.

Fixed spreads start from 1.0 pips in forex trading. Traders can become easyMarkets VIP clients with some benefits, such as trading via telephone, access to the tightest fixed spreads, personal analyst, and real-time market updates via SMS.

Traders do not need to pay additional fees whethere it is for commission, account fees, or deposit withdrawal. Account currencies are available in 18 options including EUR, CAD, CZK, JPY, NZD, USD, SGD, and many more. The company offers multiple ways to deposit and withdraw funds, some of them are credit/debit cards, bank transfers, and a ion of eWallets like Neteller, Skrill, and Fasapay.

For any questions or assistance, traders can contact the company directly at one of their local offices or at their headquarters in the Marshall Islands. Besides, traders can chat with their customer service by email, Facebook, WhatsApp, Viber, and Live Chat.

Based on the review above, easyMarkets provides easy-to-use platforms with some unique tools and it can be accessed by traders anytime and anywhere. Besides, traders do not need to pay extra fees for trading commission and deposit/withdrawal fees. Traders who register in easyMarkets can enjoy low spreads in EUR/USD pairs from 0.9 in the MT4 platform.


4. Decentralization

Using Bitcoin for deposits and withdrawals means using the currency for digital transactions. As such, traders will also benefit from Bitcoin's inherent benefits, one of which is decentralization.

Bitcoin is a digital currency that operates on a decentralized network, which means it is not controlled by any central authority such as governments or banks. Instead, the Bitcoin network is operated by a network of users worldwide who work together to validate and confirm transactions using a process known as mining. The decentralization of Bitcoin protects from the inflation and interest rates that can affect fiat currencies, which are subject to government control and regulation. This means that the value of Bitcoin is not dependent on the political and economic stability of any one country, making it a more stable and secure form of currency.


5. Anonymity and a Sense of Safety

Bitcoin's decentralized nature means it can be used for anonymous transactions, as no central entity oversees or monitors transactions. This has made it popular among individuals and organizations who value privacy and security in their financial transactions. It also means that individuals can control their money rather than relying on banks or other financial institutions to manage their funds.

Regarding transaction facts and reports, the only information made public by the Bitcoin complex is the Bitcoin wallet address. An address for a Bitcoin wallet is nothing more than a string of numbers and letters; in a nutshell, a wallet address serves as the public identity of a Bitcoin wallet. The presence of a peer-to-peer network and a blockchain allows for the intricate potential of Bitcoin to be fully realized.

As for safety, the underlying blockchain technology ensures the security of Bitcoin transactions. The decentralized and transparent nature of the blockchain makes it resistant to fraud and hacking.


5. International Reach

Using Bitcoin as a base currency in forex brokers offers several benefits, including the absence of international blockage. Due to its decentralized nature and the large user base controlling it, Bitcoin enables seamless international transactions without any restrictions or complications. This means forex traders from anywhere in the world can use Bitcoin to trade forex with any broker worldwide.

To give you an idea, a forex trader from India can easily use Bitcoin to trade forex through any easyMarkets accounts without any barriers. The absence of international blockage with Bitcoin makes it more convenient and straightforward for forex traders to conduct their business without worrying about restrictions.

However, it is essential to note that crypto regulatory regulations and procedures in different countries could affect the use of Bitcoin in forex trading. Despite this, the benefits of Bitcoin as a base currency in forex brokers remain significant, especially in facilitating international transactions.


Not only is it beneficial for Bitcoin users, easyMarkets also allows you to cancel losing trades so that your losses do not get bigger through its DealCancellation feature.