HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
XM information and reviews
XM
86%
NordFX information and reviews
NordFX
86%

Why is Crypto currency so Popular?


Cryptocurrency has emerged in the last 10 years and continues to gain popularity among various sectors of the population. There are hundreds of different cryptocurrencies on the market with the more well-known ones being Bitcoin, Litecoin, Ethereum, Dash and Ripple to name a few.

To the uninitiated, cryptocurrency is difficult to understand. There is no physical currency. Everything is traded electronically, and the trades are done through what is known as the blockchain. These are virtual currencies made up of nothing more than bytes and nodes.

It's hard to get your head around the concepts although the key thing is to remember that the prices of cryptocurrencies rise and fall just like other currencies and commodities.

The price of Bitcoin has fluctuated wildly over the past 2 years and is currently experiencing a resurgence. Not everyone is enamoured with cryptocurrency with even President Trump weighing in on the subject claiming that it wasn't real money. Be that as it may, cryptocurrency continues to be popular and trading in various cryptocurrencies continues to rise.

The popularity of cryptocurrency cannot be traced to one particular group or concept. However, there are several movements that extensively utilise and endorse cryptocurrency.

The first of these groups could be defined as been technologically aware and willing to experiment with technology. Many of these people would be colloquially classified as geeks. They understand the complexities of blockchain, crypto mining and the establishment of cryptocurrencies. Many have been able to access university course instruction on blockchain and cryptocurrency (yes there are university courses relating to these subjects) and are excited by the integrity and possibilities that the block chain technology offers. Blockchain technology is still developing and this group of early adopters is looking to position themselves to take advantage of the developments as they occur.

The second large group could be broadly classified as Libertarian. They see cryptocurrency as a means of operating outside the current FIAT currency structures of most governments. Cryptocurrency has been embraced by these people as a means of asserting their independence and autonomy.

The third group could be classified as an investor/speculator or trader group. As previously stated, the price of Bitcoin and all cryptocurrencies is subject to wide fluctuations. The lure of being able to profit from those price fluctuations is large and many people enter the cryptocurrency market for this reason alone.

The cryptocurrency market will continue to evolve and could be reasonably expected to grow in popularity as more people are attracted to one of these three broad groupings. How that plays out in particular cryptocurrency pricing is difficult to predict, however, he blockchain and cryptocurrency genie appears to have well and truly be let out of the bottle. The market appears to have now been established and will continue to operate for years to come.

If you are considering trading in Bitcoin or cryptocurrency in general, the USGFX trading platform will allow you to trade in the major cryptocurrencies. Join USGFX today and take advantage of our state-of-the-art trading platform to trade in cryptocurrencies as well as Forex.

#source


RELATED

Navigating the Complex Terrain of the Forex Trading Environment: A Strategic Guide for SMEs

In today's increasingly interconnected global economy, Indian Small and Medium Enterprises (SMEs) are no longer confined by domestic borders. Whether you're importing raw materials, exporting finished goods, or even just paying for overseas software services, your business is inevitably interacting with the vast and dynamic world of foreign exchange.

Trading forex, stocks, and crypto during a downturn

As 2023 gets into full swing, stock market volatility is heating up and showing a teaser of what’s coming—despite recession fears continuing to dominate headlines...

Trading Bitcoin and Ethereum on Forex

The sharp rise in the price of Bitcoin has led many Forex traders to try to trade in Bitcoin and other altcoins. Indeed, if there is a financial asset that demonstrates...

Is MetaTrader 4 good for Crypto?

MetaTrader 4 is used to trade a variety of financial instruments including some of the world’s most popular cryptocurrencies. In this blog, we’ll look at the benefits of using MT4 for crypto trading...

Top NFT Coins

It cannot be that you have never heard of NFTs. Artists sell their paintings in NFT format, musicians release NFT albums, and even Banksy's work "Morons (White)"...

Bonds in 2023: Deep Dive into 7 Essential Bond Types for Investors

In the world of investment, bonds stand as one of the cornerstones, allowing entities, whether corporate or governmental, to secure funds over an agreed duration...

Olymp Trade: What a Crypto Investor Needs to Know in 2022

The year 2021 was a tremendous success for the cryptocurrency market. Bitcoin hit an all-time high as did nearly all altcoins. However, 2022 started with a big price drop...

Five Bitcoin Day Trading Setups to Help You Make Money

Day Trading is trading that moves fast. It involves making multiple trades in a market on a single day, quickly reacting to price fluctuations to make lots of small margins...

The Importance of Having a Forex Trading Plan

When approaching a field like forex trading where personal decisions translate into profits or losses, having a well-outlined and easy-to-follow plan can make the difference between success and failure...

Cryptocurrency Market: How to Choose the Best Platform

Do you have an interest in the cryptocurrency market? Do you want to start trading? Are you unsure of what cryptocurrency trading entails? Do you know how the market...

Trading the FTSE All Share Index

The London Stock Exchange (LSE) is one of the oldest and most important financial institutions in the world, and in case you have heard of the...

What New Crypto Coins Are Coming in 2022

The crypto industry has experienced an eventful 2021. The world's largest investment funds are actively investing in various crypto assets...

Is Litecoin A Good Investment in 2020?

Following Bitcoin's footsteps, several altcoins came afterward that sought to build upon or improve what the first-ever cryptocurrency set out to do. Others are more...

What is TradeCopier? Complete Guide to Copying Smart

With such technological advancements taking place every day, forex trading could not have been left behind. One of the most anticipated platforms of the year...

A Complete Guide On How To Trade Cryptocurrency CFDs

Since the advent of the first cryptocurrency in 2009, the use of cryptos has grown from ordinary unnoticed blip on a computer to a currency the entire world is now...

Top Tech Trends of the Future for Trading

Tech development impacts our daily lives as well as traders’ profits. Technologies change rapidly, creating new opportunities in everyday routine and the stock market...

Margin and leverage. What exactly is margin trading?

Margin trading refers to trading with leverage, therefore opening up the possibility of a higher ROI. Leverage is a key forex trading term and is explained in the next section...

How "Stable" Really Are Stablecoins?

Over the past month, some major stablecoins completely lost their peg with the U.S. Dollar, raising concerns amongst investors about their safety. Stablecoins are designed...

3 Tips on How to Take Advantage of Volatile Markets

What’s your first reaction when market prices suddenly go tumbling down or climb up? In any case, as a trader, you’ve probably experienced market volatility in a number of situations...

Trading Ethereum CFDs: What You Should Know

Ethereum is currently the second-largest digital currency by market capitalisation after Bitcoin. There are several things to keep in mind before diving...

Vantage information and reviews
Vantage
85%
FP Markets information and reviews
FP Markets
81%
IronFX information and reviews
IronFX
77%
T4Trade information and reviews
T4Trade
76%
Exness information and reviews
Exness
76%
Just2Trade information and reviews
Just2Trade
76%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.