In spite of rising inflation, the interest in crypto is still growing, and adoption continues to expand. Retail Forex trading is bridging the gap between crypto and ordinary people.
In the midst of global economic and political uncertainty and disturbances, people increasingly seek out the cryptocurrency market to probe its inner workings, principles and financial potential. In addition to diversifying portfolios, the mother of all cryptocurrencies—bitcoin—has also become a ‘store of value’ for investors.
As a result of this investigation, the following questions need to be addressed:
How does crypto trading work? And how does one profit from crypto?
The cryptocurrency and blockchain industry is one of the fastest-growing sectors in the world. About 1.3 trillion USD are traded daily, which makes it a 50 billion USD market. 65% of the people regularly participating in trading are bitcoin owners. 300 million people worldwide currently use cryptocurrency and blockchain technology. This is only 3.8% of the total world population, so we’re still early on this trend. One of the best ways to see how cryptocurrencies are being adopted into legacy finance is by introducing new instruments like bitcoin ETFs and bitcoin futures, which are traded at CME Group.
Research on fundamentals
When serious research is done on cryptocurrency, it becomes a whole new world. The market’s credo is always to do your own research. Before you trade, do your homework and never invest in something you don’t comprehend. Crypto is not a risk-free business. You must apply proven and back-tested trading strategies to make informed investment decisions. Your hard-earned money is at stake.
Every cryptocurrency is usually backed by a dedicated company or organisation that promises to bring something brand-new to the sphere—either some new feature or an improved version of an existing system that has never been seen before. Watch out for these fintech blockchain start-ups on social media and press releases: you may even be able to catch the crucial news before the general market does, beating them to the punch.
With a Forex broker, you can profit from crypto
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With the help of your certified Forex broker, you can purchase a particular cryptocurrency after conducting your research and observe its movements in price, time, and market capitalization over time. As crypto prices fluctuate very rapidly, you can sell your crypto asset for a digital stablecoin such as Tether (USDT) or any supported fiat currency once you reach your profit margin.
You can use cryptocurrencies, such as Bitcoin or Ethereum, to trade against different currency pairs and generate a profit. Nowadays, all major brokerage services offer the most popular cryptocurrencies for traders to buy and sell on a regular basis. However, trading is different than simply investing. The leverage applied plays a huge role and should be handled only after receiving considerable training and guidance. Thankfully, there are plenty of learning sources available that provide qualitative education and deep understanding in that regard.
The final step is converting your bitcoin (BTC), Tether (USDT), Ethereum (ETH), Cardano (ADA), Solana (SOL) or any other supported cryptocurrency to your native currency and withdrawing it into your conventional bank account. As each currency’s conversion rate is related to its respective market price, you have to keep an eye on the conversion rate of each involved currency whenever you make any careful moves.
If not now, then soon: Subway, a fast-food chain, and Microsoft, a software company, accept direct bitcoin payments, as does Twitter, a major social media platform, with its ‘tips’ feature.
Among the most important statistics is that the number of large bitcoin holders has reached 15,800 – a new high. Indicating that some influential and resourceful market participants believe in the continuation of the crypto rally, accumulating as many coins as possible.
Crypto payment revolution’s future looks bright, with the online gaming communities and even legacy finance very eager to adopt what might just be the next big paradigm in finance.
A global broker, HFM provides online trading services around the world since 2011. Over 12 million trading accounts have been opened by clients from 150 countries who take advantage of its commission-free access to financial markets and a variety of services. Traders can achieve their investment goals with the broker’s free webinars, articles, and analytical and risk management tools.
As part of its charitable and humanitarian initiatives, the company improves educational infrastructure, provides short-notice relief, and supports local communities.
In addition, HFM Boker has won more than 50 awards since its foundation, including the 2021 ‘Best Forex Broker Asia’ award from Global Banking and Finance Review and the 2021 ‘Best ECN Broker’ award from World Finance.