Cryptocurrencies: Why Are Investors So Keen To Invest
You can visit many websites online where you can purchase or sell Bitcoin, Litecoin, Ethereum, Ripple, Neo, Monero, and more. These cryptocurrencies are becoming increasingly popular with investors around the globe, with crypto soaring a massive 250% to a valuation of $2 billion in 2020. Here we explore why investors are so interested in computer code and what this could mean for global finances.
Let’s start with Bitcoin
The most world-renowned cryptocurrency is Bitcoin. You may have seen signs all around the world, which allows you to pay in the cryptocurrency. While the general picture in FinTech is optimistic, the people at Bitcoin are seeing the currency struggle. To be fair, Bitcoin’s bubble-like price has been under pressure for many years. People hoped that the post-coronavirus crash rally would see Bitcoin pierce the $10,000 level again. However, once more, it hits a downward trend. So, while we are about to report that other digital assets are on the rise, let’s not think this is a universal picture.
The rise of the digital currency market
So, if you need to pick and choose your cryptocurrency vehicle to get the best investment, we need to explore the platforms that are getting the most interest and why. It might not be the right idea to buy and sell the currency itself, but instead, explore the technology facilitated by the currency.
BitBuddy: Investors are interested in BitBuddy because it allows the shopper to sell and buy directly on the platform. Therefore, in a world that relies so heavily on internet interactions during this pandemic, it seems sensible to seek to put money into a platform that facilitates the transactions. Although the app relies on Bitcoin as the currency to be transacted, the value of the transactions is irrelevant in comparison to the number of transactions.
WazirX: In the same way as BitBuddy, WAzirX is an app that facilitates financial transactions. You can use this exchange if you are an advanced trader, as the interface is sophisticated. There is a Live Open Order Book that lets you trade in digital assets. What makes this platform so interesting to investors is the P2P payment options, which allows you to securely pay for goods and services wherever you are in the world. If you know much about the democracy of financial systems, you will know that there are many countries that cannot access world banking facilities. Therefore, WazirX offers a substantial opportunity for investors in many ways.
ZebPay: Investors are looking for a place where they can trust their money. In a world crisis when everything is topsy turvy, the fact that 3 million people in 130 countries trust this crypto exchange makes it of significant interest to the people wanting to place their money. Zebpay provides one of the easiest ways to trade cryptocurrency – with seamless mobile trading meaning you can continue to work on your investments from home.
CoinSwitch: This a cryptocurrency exchange aggregator platform helps to trade in cryptocurrency with ease and at much cheaper rates. There are over 400+ cryptocurrencies on the platform and you can buy with a credit card at some of the best prices. This allows even the casual investor to put some money into a safe place.
While we cannot assume that cryptocurrency is a sure thing – as the ups and downs at Bitcoin prove – however, these platforms prove the potential of digital currency. They allow for easy transactions across the globe – which isn’t anywhere near as easy for traditional currencies. There is also the option to use a mobile app to make a quick investment using a credit card. Therefore, the structures allow for remote investments in a transactional tool that is much needed where distance is required.