Tagged: BTC value

First Global Credit Adds New Bitcoin to Fiat Currency Switch Service to Growing Portfolio

First Global Credit launches radical new service that turns a significant risk into a profit opportunity

February 16, 2015

First Global Credit’s Currency Switch Service helps shrewd traders turn a significant risk into a profit making opportunity. Customers of either Global Credit Service that allows the use of Bitcoins as collateral to make stock and commodity investments can switch the collateral in their account from Bitcoins into one of four Fiat currencies (USD, EUR, GBP of CHF) at the live market price.

The stock or commodity positions the customer currently holds do not need to be closed to perform the Currency Switch; the existing trades will just now be secured by the Fiat currency in the account instead of Bitcoins. When the trader feels the moment is right they can switch back into Bitcoins at the current rate.  A modest transaction commission of 0.1 percent is charged if the trader is a price maker; placing an offer above the market or a bid below the market, or 0.2% if the order is ‘at market,’ wherever the market is currently trading.

Bitcoin’s price has recently been subject to substantial volatility and has at times in the last few weeks lost or gained as much as 20% of its value in a single day. This can expose those holding Bitcoins to considerable risk if they can’t divest themselves quickly enough to protect their portfolio’s value.

“The Currency Switch Service provides a benefit over other Bitcoin Exchanges by allowing our customers to actively trade both stocks and Bitcoin movements with the same collateral, doubling their opportunities and increasing the potential for portfolio growth,” stated Marcie Terman, Communications Director at First Global Credit. “This service supports both customers that want to enhance their returns and customers that are concerned about short term exposure to Bitcoin’s price fluctuation.

For more information including FAQ’s please go to http://firstglobalcredit.com/Services/Collateral-Currency-Switch-Service.

About First Global Credit:

First Global Credit is the world’s first Finance Company 100% focused on digital currency products. The company has been founded by financial service professionals with 35 years’ collective industry experience. The objective, to help our customers maximize the potential derived from their investment in the digital currency markets. To deliver those services with a stability and reliability not generally found in digital currency focused companies. We are committed to assisting our customers achieve their economic objectives and to do this our systems have been built using enterprise level technology and security. Our processes are designed to assure the privacy of our customers alongside the security of their assets. The company is committed to developing a stable and secure digital currency capital market; to provide an environment which will prove fairer, more accessible, and less costly for the public to transact business than existing banks and financial institutions.

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State of the Bitcoin Market 9 Jan 2015

Over the past few days market action is starting to look mildly constructive; It is encouraging enough to suggest that we dip our toes back into the market.

We are entering to buy of a 25% position at the current price (284 at time of writing) with a further 25% bid below the market at 271. Protective stops should be placed below the 250 level. I would recommend a very disciplined use of Stops at the moment as a further slide can’t be ruled out.

We will build on this position if the market starts to trade higher.

Good Luck

Gavin Smith
Chief Executive
First Global Creditstate_of_the_market_9.1.2015

State of the Bitcoin Market

What To Do with BTC’s Price Decline

Bitcoin Market Advice for 17 December 2014

 SOTM.17.12.14

Last week we announced our expectation that Bitcoin value was in decline. Those following our recommendation should now be short a small or 1/3 position, taken just below the $342 level. We do not anticipate the market holding at $310. Rather we are expecting a push below $300 to retest the lows established in October.

Do NOT add to this short position at these levels (the market is at $320 as we write this) as our central thesis is that this is still longer term base forming. Plan to cover the small short position at the $290 level if the market gets down to that point.

On the upside, plan to cover the short position and go long a 50% position if the market breaks above $360; if this happens we expect the market to be wrong-footed and could a see significant number of traders covering their shorts. Unless this happens stay short and look to flatten out at $290 as described above.

Good Luck.

First Global Credit Management