Cryptocurrency is a new entrant into the world of personal finance and digital technology. Built as a concept for the first time in 2009 with the publishing of the Bitcoin proof of concept, the blockchain and thousands of coins, tokens, and forks have burst onto the scene in recent years and revolutionized the way that people think about monetary policy, finances, and investing as broad conceptual things.
To put it simply, cryptocurrency is a digital currency asset. It’s a decentralized solution to the monopolization of money all around the world. And it lets users interact with one another across borders and without the need for fiscal translation.
Cryptocurrency as an Object of Investment
Cryptocurrency is leveraged today by millions—if not billions—of users primarily as an investment vehicle. Crypto assets are held at exchanges, much the same way an investor would buy shares from their favorite companies through the use of a brokerage firm or stock investment platform.
There are a number of ways in which crypto “shares” are set apart from their cousins in the stock, forex, and commodity markets though. Firstly, cryptocurrency trades all around the clock, on Saturdays, Mondays, and even at 3 am. The exchanges (Binance, Kraken, Coinbase, Gemini, etc.) never sleep, and neither do the profits that you stand to make while holding crypto assets. The intensive input of time plays a unique role in the trade of cryptocurrencies as a result.
This means that a potent source of information is necessary in order to make the most of your trading routine. A partner in this journey, such as CryptoVantage, is essential if you are to make the most of your portfolio and profits. The technical analysis, real-time data, and market trend insights are invaluable while approaching the crypto marketplace. Research is key to a high-quality strategy, no matter where you are trading, but in the world of digital commodities like Bitcoin or Ethereum, it plays an even greater role in your ultimate success or failure.
Learning to lean on the insights gleaned through long-term research is a key facet in the intensive march toward consistent gains in the cryptocurrency marketplace. As a trader, you simply can’t afford to ignore or discount the importance of reading and growing as an analyst and investor.
Cryptocurrency as a Purchasing Tool
In addition to its role as an investment commodity, cryptocurrencies operate in the same way that fiat currencies do. This means that you can purchase goods and services with Bitcoin, just like you can with a U.S. Dollar or Euro. The difference here is that Bitcoin (BTC) and Ethereum (ETH) must be exchanged with the facilitation of the blockchain and digital wallet applications. Fiat currencies are quick and easy, but crypto assets are catching up in a hurry.
What’s more, cryptocurrencies offer a uniquely powerful security blanket that a fiat currency simply can’t provide to a discreet user. No matter what you’re buying, if you are making a purchase online, your digital signature can’t be washed off a traditional transaction, whereas, with a crypto-backed purchase, your name and personally-identifying information were never associated with the wallet address, to begin with.
Additionally, cryptocurrencies enjoy a constant fluctuation in pricing that makes the minor movements within the forex market look like glacially slow variances. Because of this, cryptocurrencies, if leveraged in an intelligent fashion, can give you the ability to double or even triple your purchasing power with a blend of luck and skill on your side.
Cryptocurrencies are a fascinating new way of trading and purchasing goods. Millions of Americans are already utilizing the power of these coins, and you should too.