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  1. Hedging is a term used to describe a strategy that protects traders from adverse movements in currencies such as the USD/CAD pair. A trader might have bought a position in CAD/USD and now wants to protect himself from the possibility that the value of the Canadian Dollar will fall. He can do this by selling some of the CAD/USD position in anticipation of the drop. This is called hedging because he has taken out insurance against the possibility of losing money.
  2. Yes It legal in the most of country because it easy and paperless transaction but few counties have banned of bitcoin due to its use of bad work or for black money
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