- Personal Finance»
- Understanding Finance
Hassle Free Way of Euro Bitcoin exchange
How The Euro Bitcoin Exchange Takes Place
Bitcoin has become one of the most popular digital currencies accepted worldwide. It can be used for making any transaction, and that too is done in a hassle free manner. It is somewhat similar to your cash that can be employed for different kinds of purchases, so if you wish to buy anything you are free to use Bitcoins that can be bough within an online exchange and stored within a bitcoin wallet. Apart from using BTC directly as a mode of payment, you can also convert them into specified currency and then trade. For Instance, there are many countries where Euros is their national currency, you can convert the Bitcoins into Euros and accomplish all the transactions within the country. This is the case when either the Bitcoins are not accepted at particular outlets, or if any issues in the transaction arise.
Now the question arises as how the Euro Bitcoin exchange actually takes place. The process is quite simple, so let us have a look at it.
Euro Bitcoin exchange
In order to convert Bitcoin into Euros or vice versa, you can take the help of various sources that accomplish this task easily. There are many platforms available to choose from depending on the benefits that you can enjoy. Some of the options that you can try for the exchange are Bitcoin Central, Bitmarket, Instawire and many more. The process is more or less similar on all the platforms with a slight change in each of them. It entirely depends on the user experience as which platform is most suited to them.
In order to exchange the Bitcoins, you can just sell them to buyers. This selling process will take place from the wallet itself. When both the buyer, as well as the seller, agrees, the transaction can take place. Sometimes the market is fluctuating, so if you come across such a situation you can wait for about 24 hours and still the prices are low you are free to cancel the transaction. In such a case, you can overcome the losses and sell the Bitcoins when the exchange rates go high. It will be better if you are already familiar with the market before the exchange takes place, this will save your energy as well as time.
The euro bitcoin exchange rates are modified from time to time, so it is important to be well versed with the current rate to perform the exchange. So take the help of a secure platform to exchange the bitcoin into any desired currency.
Bitcoin Euro Exchange
Can Bitcoin Replace The Euro?
Bitcoin has a real chance of overtaking Europe as a replacement for the Euro. Speculation keeps growing on the significance of cryptocurrency and whether it can whether the storm as a sustainable economic instrument as it moves forward throughout the world.
Yes the Euro spans across multiple countries as a single currency, however it still evoles around a central bank. This premise does not make it different then the American Dollar, The Russian Ruble, Yen, etc.
Euro Bitcoin will be decentralized giving people more economic power. This can work alongside the Euro and let the people decide whether or not to replce it completely.
The only ones not in favor of this set-up are the ones in control of the Euro and those not in favor of an equal stimulus package that brings a legitimate equal economic opportunity for all to prosper, more-so than what is currently in place due mostly to having a central authority rule over who gets what monies.
Yves Mersch, of the European Central Bank, is quoted on his thoughts on cryptocurrency as:
“Their special feature is that payments are made directly between the participants without a bank as an intermediary. The elimination of any bank charges achieved in this way is often claimed to be an advantage but exchange rate losses can quickly cancel out this advantage”
This is true in part because what he fails to mention is the opposite is true. The BTC price can rise and thus making the exchange an actual profit, depending on how high the price rises, the profit margin can be sky high. What he also fails to mention is the fact that the exchange rate only matters if a person decides to trade the bitcoins back into fiat currency. If it stays BTC the exchange rate won't matter because only the price changes in bitcoin products which does not have to change just because the exchange rate changes.
Bitcoin Versus Euro Poll
Is Bitcoin a Better Option Than The Euro?
Advantages Vs Disadvantages of The Euro and Bitcoin
Eliminates Country Control
A Central Authority
Few Consumer Protections
Need For Bailouts
Inequality Between Countries
Allow Equal Access
Why Bitcoin Can Outshine The Euro and Bring Equal Access To Millions
With bitcoin, countries will be able to gain a much more equal access to capital that is unbalanced with the present system that is set up. Currently, certain countries like Germany will receive more Euros in the money supply than Greece due to a better fiscal economy.
This type of unbalance lead to the need for the bailout in Greece which ultimately caused a worldwide banking crisis. This will be eliminated with bitcoin.
Bitcoin will only have 21 million in existence. This 21 million will be constructed from a world-wide peer-peer distribution network that will be very large by the time the 21 million comes into existence. This 21 million can be broken down in very small bits. These small bits can be used for bus rides, paying employees, buying food, clothing, oil, shelter, etc.
What this ultimately does is truly eliminate counterfeiting, inflation, interest rates, unnecessary printing, and many more ills that come from centralized banking.
Bitcoin Euro Calculations
How To Determine Price With A Bitcoin Calculator
A bitcoin calculator will create an accurate price in Euros in regards to BTC price up to the minute. It's not like the stock markets that have a closing bell. Unfortunately there is no closing bell with bitcoin and the price changes literally every minute.
With this type of volatility it creates an atmosphere of success because many people see a very lucrative investment if they learn the system of when to buy and when to sell. In my experience the good news that comes out when say a paypal accepts bitcoin into its network, has no real effect on the BTC Price. But the negative news usually does when China or Russia fails to accept it - then the price usually dips down.