An Artur Hochberg Guide on Bitcoin and Crypto Trading
Oct 12, 2019 15:26
Cryptocurrencies have a lot of potential for profits in trade. Bitcoin is the king of all digital currencies, says Artur Hochberg. Want to know more? Read on.
The traditional currency trading market is quite different from crypto trading. Cryptocurrencies referred to as crypto, are a relatively new asset market. Their values are also influenced by different forces from those that affect the FX market. The FX market prices say, Artur Hochberg is mostly influenced by ongoing political and economic announcements. The cryptocurrency market, on the other hand, is influenced by factors such as;
1.Hack attacks on the digital currency's network or on cryptocurrency exchanges. The exposure of security flaws often causes a price slump.
2.Significant disagreements between members of a cryptocurrency community. There are at times squabbles over upgrades have led to hard forks, causing low prices.
3.Fear, uncertainty, and doubt, also known as FUD in crypto vocabulary. Negative rumors or news stories of government bans, for instance, has caused the price of the assets to plummet.
Artur Hochberg introduces Bitcoin
•Bitcoin is the world's most popular cryptocurrency. Invented in 2009, in the post-recession era, the token's value has risen from nothing to a high of $20,000 in 2017. The cryptocurrency has a peer-to-peer mechanism of trade, meaning that it operates independently of banks or central banks. Like most true cryptocurrencies, Bitcoin runs on blockchain technology. The digital asset has a finite supply of 21,000,000 BTC, and it is believed that 20% of those tokens are either lost or unrecoverable.
•Also known as the original or the king of cryptocurrencies, Bitcoin's transactions are irreversible. Once a transaction is confirmed on Bitcoin's blockchain, no one has the power to reverse it. The transactions done on the blockchain are also pseudonymous. Since you do not need real-world bank accounts to trade in Bitcoin, your real-world identity is hidden in trade.
•Sending Bitcoin across the globe is also instantaneous. If you, on the other hand, are sending money to another trader across the world, the transaction takes a few days, before the cash is available for withdrawal. The beauty of digital currencies is that they do not have waiting periods and also have meager transaction fees compared to fiat.
•Since Bitcoin's are locked with cryptography systems, they cannot be stolen, unless your private key is accessible. Technology in private wallets, however, makes the keys impossible to break, making properly stored digital currencies more secure than all the assets in Fort Knox. The digital currency system is also permissionless. Anyone respective of their background or location can access and trade in crypto so long as they can access the internet. The barriers of entry are, therefore shallow.
The final word
There are other digital currencies used in trading besides Bitcoin. Ethereum, for instance, is a very popular trading token. The digital currency's popularity is only rivaled by Bitcoin. Litecoin, Ripple, Cardano, and Bitcoin Cash are other popular trading tokens. Artur Hochberg Malta platform enables access to crypto margin trading as well as cryptocurrency CFDs. Need to start making some passive income? Start out with crypto trading.
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