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Bitcoins are trading at a remarkable rate. Some credit this sudden attention to the financial crisis in Cyprus, where people are taking their investments out of banks and away from the hands of the government and putting them into digital currency. If you are looking for a legal and easy way to trade and make real money, buying bitcoins in this difficult financial time for some countries may be the smartest thing you have ever done. Short History of the Crisis The Republic of Cyprus is undergoing a major financial crisis. Cyprus could no longer replenish its state expenses and a bailout was issued, however this bailout came at a cost: Cyprus would have to close its second largest bank, the Cyprus Popular Bank. Additionally, it would levy all uninsured deposits to the largest bank, the Bank of Cyprus. Bailout terms included: cuts in salaries, benefits, raised taxes, and higher healthcare costs. The public reaction to this bailout was fierce, with many people protesting publicly and withdrawing their money from the banks in a panic. About Bitcoins The people of Cyprus, including investors, wanted to allocate their money where it wasn’t placed under restrictions (and so that they could feel more secure), so they decided to move their money into digital currency. Bitcoins are an alternative currency that can be accessed through computers and smartphones. They rely on peer-to-peer networking and there are no banks involved in trading bitcoins. Bitcoins are accepted by different services and merchants all over the world. It is estimated that the valued monetary base of this alternative currency is over $1 billion USD. Different exchanges allow the buying and selling of bitcoins at a high price beside other currencies. For example, a single bit coin has been traded from $40 - $95 in one month’s time. Several banks and employees of banks have shown an increased interest in bitcoins. Some major banks have visited bitcoin exchanges up to 30 times per day. Currently, bitcoin shares are traded through the Exante Hedge Fund Marketplace and are regulated and authorized by the Malta Financial Services Authority. It is estimated that Exante holds at least $3 million USD in bitcoin assets. How to Make Money With Bitcoins The average bitcoin trades at around $9 USD and the trading process is relatively simple. Simply buy some bitcoins, and sell them for a profit. Bitcoin exchange systems regulate the value of bitcoins based on the current market for them. The most popular bitcoin exchange platform is Mt.Gox. It is estimated that nearly 80 percent of trading occurs on this platform. Other platforms exist and trading is, again, relatively simple and easy. Because so many people from the Republic of Cyprus and other countries are investing in Bitcoins out of fear and/or distrust, it is likely that you will make money trading bitcoins while people are moving their assets away from traditional means. Trading bitcoins can come with certain risks, as any form of trading does. However, you can be assured that trading bitcoins are a perfectly legal way to make real money amidst the current financial crisis in Cyprus. Stop Losing Money!!! Stay on the right side of the market always with SENTIMENT TRADER - http://sentiment-trader.blogspot.com
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