Dug a little deeper. Although the above mentioned idea would be a good addition to Darwinex, it appears that blood sucking tax collecting extortionists already made tonns of legislation on how to tax crypto…And basically many sites suggest that even though it is difficult and in some cases impossible to track down transactions made by crypto currencies it apparently is in your best interest to tell them about everything, or else… Some people say that it is like voluntarily poke a stick in your own eye, though
Now that’s an investment http://coincap.io/DASH
And there are actually quite a few coins booming like this one
Bitcoin deposit / withdrawal would be a major plus for me and would be much easier to implement than actual trading the currency.
Any plans from Darwinex to offer any kind of form of cryptocurrency trading ???
Sorry if I sound stupid here but I’m a little confused. Trading bitcoin I can understand, although its hugely risky.
However I don’t understand why theres such a need for bitcoin wallets? Other than tax evasion what is the need for bitcoin wallets? Having wallets in different currencies for different counties I understand but I struggle with this one.
I think from a practical point of view banks and agencies like the FCA would probably take a pretty dim view of bitcoin wallets as they encourage non-declaration of gains and make it easy to hide and therefore cause tax issues.
I would think about it as “why not?”. Always good to have options. Bitcoins are being widely recognised and if it wasn’t the price would’n be as high as gold or even higher. Plus what do you do when eventually dollar collapses? Think about it.
Watch this video. It is so relevant. https://youtu.be/wbAh4zOQHkE
My thought it that from the side of Darwinex and the regulators they probably don’t want bitcoin because of the added compliance burden. A broker can’t be seen to be helping people not declare income for example.
Would suggest you want to use bitcoin to keep things from tax authorities? Having a grey area with tax isn’t something the regulators would want and by extension brokers don’t want to annoy regulators.
In terms of this there has to be a method of holding BTC. Currently Darwinex use Barclays I believe to hold customer deposits, they would have to implement a whole new system fro BTC.
Its pretty cynical, and probably untrue, saying the dollar will collapse but I can understand your concern. However I don’t agree that we need bitcoin on this platform. The majority of brokers that offer bitcoin I wouldn’t trust with any of my money! This is a serious broker for serious traders and investors not a Trading212 type casino.
Modern world evaluates at a very high rate, and this maybe of those things that will change business in a global scale! Should not be ignored!
In my opinion, some big and “credible” organizations have started to look at it in different way last year… and there are also more offers to trade it, is evolution is inevitable…
In 10 years standard currencies will be seen as a very cool OldSchool style and new ones will dominate…
PS: just for curiosity I´m following this new “currencies” with some detail for more than one year, but i still fill not comfortable to start trade them…. To match volatility ( that will start do decrease in time…)
I didn’t say I want or need to trade BTC. All I said is I need a BTC option for wallet. The other reason for this need is actually to diversify and be safe. When global economy starts to contract and it will because it is impossible to have perpetual consumer spending growth, I personally want to have my assets diversified.
And answering TraderToms other post - there is nothing unserious about BTC. It’s actually pretty serious stuff. It’s value proves that it is worth a lot more than currency printed out of thin air.
If you think I am being cynical you probably have to dig a little deeper in your web research to find out what dollar really is and how monetary system works.
I’m fully aware how the monetary system works thanks, it’s something I’ve been involved in for over 7 years.
In terms of bitcoin I was an early investor and a miner and made solid money out of it. However it’s now majority controlled by Chinese miners due to low electricity prices and cheap mining hardware. As a result the stability of it is questionable at best. As a result of this I, along with many other partners I worked with, divested a long time ago at a very substantial profit. It’s not something I’ll ever revisit personally. I think a little more research on your part may be required. If you want a solid non-dollar assset gold is probably a better option imo.
10 posts were split to a new topic: Crypto coins vs darwins
Pepperstone is introducing bitcoin trading.
Just FYI. I repeat that I only proposed BTC option for wallets
Frankly, the real good idea for Dawinex is neither to offer payments in crypto-currencies, nor to the trading of crypto-currencies, but to make an ICO (Initial Coin Offerings).
That a good ICO brings tens or hundreds of millions to projects that I think are far less interesting than Darwinex, I say it would be an idea to explore, if not yet done.
A huge spread, swap in both directions, a lot size between 1 and 0.1 according to the brokers.
Sorry but you have to be stupid to trade a CFD instead of holding the crypto-currency directly.
Darwinex right now does not seem to have ground to make use of decentralization/blockchain benefits.
However, some random ideas to become “tokenized” and justify an ICO scheme along the way could be :
- recognize tokens acquired as deposit value
- assimilate token money as trading commissions’ credits for traders / perf fees credits for investors
What else as funny speculation ? The millions can’t flow without proper incentive
Dukascopy dared to join the bandwagon !
Their incentive is to handle the client the option to pay trading commissions through the Duka coins
Very classic and exactly the same model as the dominant crypto exchanges (Binance on top)