ASIC Australian Forex Brokers accepting Bitcoin

Bitcoin is by far the largest and most traded cryptocurrency in existence today, and is accepted by a few Australian ASIC-regulated forex brokers as a funding method. However, accepting customer deposits in cryptocurrency may complicate regulatory issues for the broker, which may be the reason why so few regulated forex brokers accept this type of funding method.

As a payment method, Bitcoin has several advantages over traditional methods that rely on the banking system to function. Firstly, all Bitcoin transactions are irreversible, which is a benefit for the broker receiving the money. Secondly, Bitcoin transactions cannot be blocked or otherwise censored by banks or governments, which is a benefit in particular for traders from countries with strict capital controls.