After the global economic recession in 2008, Bitcoin was introduced as an alternative to traditional fiat currencies. Bitcoin is a decentralised digital currency, which means that it is not subject to the control of any central authority. The supply of Bitcoin is limited to 21 million, and it is expected that the last Bitcoin will be mined in 2140. Also check this website for further information.
Bitcoin has become very popular in Bangladesh over the past few years. According to a report by bdnews24.com, the trading volume of Bitcoin in Bangladesh has increased significantly in recent months. In February 2018, the trading volume of Bitcoin was around $1 million. However, in March 2018, the trading volume increased to $3 million. The popularity of Bitcoin trading in Bangladesh can be attributed to a number of factors.
First of all, the Bangladeshi government has not placed any restrictions on Bitcoin trading. Secondly, there are a number of exchanges that allow traders to buy and sell Bitcoin in Bangladesh. These exchanges include Binance, Huobi, and Okex. Thirdly, the Bangladeshi taka is not a very stable currency, which has made Bitcoin an attractive investment option for many people.
The price of Bitcoin has also been on the rise in recent months. In January 2018, the price of one Bitcoin was around $13000. However, by December 2018, the price had increased to around $20000. The recent increase in the price of Bitcoin has led to a boom in Bitcoin trading in Bangladesh.
Despite the popularity of Bitcoin trading in Bangladesh, there are some risks associated with it. First of all, as Bitcoin is a decentralised currency, it is not regulated by any government or financial institution. This means that there is no protection for investors if the value of Bitcoin decreases. Secondly, as the Bangladeshi taka is not a very stable currency, there is always the risk that the value of Bitcoin could drop sharply against the taka.
Overall, Bitcoin trading in Bangladesh has become very popular in recent months. However, there are some risks associated with it. Investors should be aware of these risks before investing in Bitcoin.
The popularity of Bitcoin and other cryptocurrencies has been on the rise in recent years, with more and more people looking to invest in these digital assets. Bangladesh is no different, with a growing number of people trading Bitcoin and other cryptocurrencies.
However, there are still some hurdles to overcome before cryptocurrency trading becomes fully mainstream in Bangladesh. For starters, the Bangladeshi government has not yet legalised cryptocurrency trading. This means that there is no regulatory framework in place for exchanges and traders.
This lack of regulation has led to some concerns over the safety of investing in cryptocurrencies. However, many believe that the potential rewards outweigh the risks involved.
Despite the challenges, the cryptocurrency market in Bangladesh continues to grow. Here are some of the latest trends in Bitcoin trading in Bangladesh.
1. Increased interest from investors
There has been a surge in interest from investors in Bangladesh when it comes to Bitcoin and other cryptocurrencies. This is largely due to the volatile nature of the market, which can offer substantial profits for those who are willing to take on the risks.
2. More exchanges are listing Bangladeshi Taka (BDT)
In order to make it easier for Bangladeshis to trade Bitcoin and other cryptocurrencies, more exchanges are now listing Bangladeshi Taka (BDT) as a supported currency. This allows traders to buy and sell cryptocurrencies using their local currency, which is a major convenience.
3. Growing number of ATMs
Another trend that is helping to boost the cryptocurrency market in Bangladesh is the growing number of ATMs that are now supporting Bitcoin and other cryptocurrencies. This makes it much easier for people to obtain and use cryptocurrencies, as they can simply withdraw cash from an ATM when needed.
4. More merchants are accepting Bitcoin
As awareness of Bitcoin and other cryptocurrencies grows in Bangladesh, more merchants are beginning to accept them as a form of payment. This is helping to increase the utility of these digital assets and make them more mainstream.
5. Government is taking a hands-off approach
So far, the Bangladeshi government has taken a hands-off approach to the cryptocurrency market. While this may change in the future, it is currently providing a favourable environment for the market to grow.
These are just some of the latest trends in Bitcoin trading in Bangladesh. Despite the challenges, the market continues to grow at a rapid pace. This is attracting more investors and helping to make cryptocurrencies more mainstream.