Cryptocurrency is quickly evolving into a new and versatile financial product that straddles the divide between currency options and investment opportunities. Crypto enthusiasts point to the beginnings of the industry, with the Bitcoin proof of concept coming in 2009, as the turning point for personal finance and user ownership over assets and commodities. However strongly you feel about the history and utility of these assets, the truth is that cryptocurrency is poised to remain a viable and highly profitable trading asset for many years to come.
In order to get into the marketplace, you first must open a brokerage account of sorts with a cryptocurrency exchange. Many people in Canada might be wondering how these cryptocurrency trading spaces work, and how jurisdiction might be shared between decentralized, digital currency trading platforms that put users first and the governing bodies of the physical locations that those investors find themselves residing in. There are many unique things to consider when investing in the cryptocurrency market, and this guide aims to shed light on many of them. Starting with the selection of a crypto currency platform in Canada is a great idea for anyone thinking of getting into the marketplace. Fortunately, there are a number of great options to choose from when approaching these assets.
Cryptocurrency offers a dual-threat growth opportunity.
Personal finance has been changed for the better by the introduction of the cryptocurrency marketplace. Crypto assets trade as investment commodities that can underpin a fast-moving growth facility over both the short and long term. Cryptocurrency operates as a great instrument for earning profits as long hold assets and in day trading scenarios with equal potency. With constant market fluctuations and an always-open market, crypto assets provide great hedging for those who are looking for something beyond real estate or the stock market.
However, the real power of the crypto marketplace is in the two-phase approach that it provides to its owners—just like real estate and a few other specialized asset classes. While stocks provide great long-term growth for investors, they can’t be easily liquidated in order to make purchases in the consumer market. If you are hoping to go on vacation, eat at a nice restaurant in town, or buy groceries with your investment earnings, you first have to sell stock or property assets in order to transfer these holdings back into a currency asset that can be spent. Cryptocurrency is different though.
Rather than existing as a pure growth vehicle that is used solely as an investment, these digital currencies can be used directly in the marketplace with a growing number of vendors who are happy to accept Bitcoin, Ethereum, and many other highly prized crypto commodities.
Cryptocurrency platforms are built with the user in mind.
The best cryptocurrency platforms out there all share a few commonalities, while each one will do these tasks a little differently. The first, and perhaps most important addition that any crypto exchange can offer its users is the addition of research products, technical indicators, and news surrounding the cryptocurrency marketplace.
Research and reading materials are key to success in this trading space, just like in any other market. An informed investor is one who is poised for continued success because they are up to date on exactly what their holdings might be aiming at prices. Price movements in the crypto space follow trends and patterns just like in any other commodity trading space, so the addition of research and technical analysis products can help shorten the learning curve for a new trader who is just starting in this space.
Crypto offers a new and improved experience for traders everywhere. Consider this marketplace for your next investment opportunity.