BDSwiss just announced two new features to their platform:
- Weekend Trading. Starting from Saturday 18.02, customers can now trade Bitcoin/USD
- Bitcoin is now tradeable as a currency asset . Trade Bitcoin/CNY and Bitcoin/USD.
This is what they say on their blog post:
Well, the good news is that from tomorrow (18th February) BDSwiss is introducing Bitcoin trading. Initially they will be able to be traded against the U.S. Dollar and Chinese Yuan.
To be clear, users only trade on the price of Bitcoin, whether it will rise or fall. There is no Bitcoin exchange involved.The innovation that is Bitcoin will now allow trading over weekends extending traders ability to take positions to 24/7!
It is easy to understand (if not predict) the value of one currency against another. Each currency is used in a specific country or trading bloc (like the Euro) and economics dictate the value of one currency against another using trade and capital flows and investment to determine their compatable worth.
Since Bitcoin is everywhere and nowhere, determining its value is more difficult. Bitcoins are valued according to supply and demand. The simplest way to explain it is since the end of the gold standard cash (notes and coin) have had no “intrinsic” value.
They rely upon the ability of the country who issued the cash to honour it and we all accept that. However, going back to 2008 that all became a little less certain. Bitcoins are finite in the same way gold is. By 2040 all 21 million bitcoins will have been mined but since they are almost infinitely divisible there will continue to be supply.