Why is the BTC to AUD pair important to traders?
BTC to AUD is a popular crypto-to-fiat pair among crypto investors and traders in Australia and abroad. Since its inception in 2009, Bitcoin – the base currency of this pair – has proved to be the world’s top cryptocurrency in terms of market capitalisation and cost. The counter currency – AUD – is the 5th most widely-traded fiat currency in the world and is the official currency of the Commonwealth of Australia, including the Australian mainland and its territories, as well as Nauru, Kiribati, Zimbabwe and Tuvalu.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC to AUD exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to AUD trading: the ultimate way to invest in Bitcoin
Although the volume of the BTC to AUD crypto-to-fiat currency pair is much lower than BTC to USD, Bitcoin to AUD trading is steadily growing. The ultra-volatile nature of BTC/AUD makes it a strong alternative to traditional Forex markets.
Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to AUD price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a remarkably strong start of 2020, investors share a bullish view on Bitcoin price future. Convert BTC to AUD at Dzengi.com and trade it with 100x leverage and tight spread.
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Bitcoin introduced a new type of digital currency to the world gradually gaining worldwide popularity. Today, it is the most popular and valuable cryptocurrency on earth, serving as the gold standard for emerging cryptos.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. In addition to being an alternative payment network and a store of value, Bitcoin offers great opportunities to traders.
Key facts about BTC
- The first decentralised cryptocurrency
- Launched in 2009
- The brainchild of a person or group known as Satoshi Nakamoto
- The maximum number of Bitcoins is 21 million
- 80% of all Bitcoins have already been mined
- Bitcoin is considered both a commodity and a currency
- The first BTC transaction was to buy 2 pizzas
Launched at the first cryptocurrency exchange BitcoinMarket.com in April 2010, Bitcoin’s starting price was $0.0025 (AU$ 0.0037). Shortly after, the BTC price rate started to surge dramatically, generating more than a thousand per cent earnings to its initial owners.
As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
Bitcoin price chart shows BTC/AUD price rate in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to AUD price.
In the Bitcoin to Australian dollar pair, BTC is the base currency and the AUD is the counter currency, which means the BTC/AUD chart shows how much Bitcoin is worth as measured against the Australian dollar.
The 5th most popular currency in the world, the AUD enjoys 8.6% of share in daily Forex transactions. The currency is managed by the Reserve Bank of Australia and is often called “the Aussie”. The currency operates under the dollar sign ($) and is referred to as AU$ or A$ to separate it from the USD.
The Australian dollar price rate is significantly affected by its alignment with emerging Asian markets. By virtue of the close relations and historical ties to China and its hard commodities, Australia has developed a long-term relationship between precious metals and the AUD currency.
Those interested in the BTC/AUD pair trading, should keep a close watch of crypto market news and the interest rate decisions, made by the Reserve Bank of Australia (RBA).