You must have been hearing a lot about the benefits of entering the stock market from your friends, relatives, media, etc. Well, then it’s time to consider the world of cryptocurrency trading. Cryptocurrencies are secure digital currencies created across decentralised networks globally and find use in a variety of applications such as financial, social, IoT, etc. Some examples are Bitcoin, Bitcoin cash, Ethereum, Monero, Litecoin, etc. They are now treated as a commodity too by traders and financial experts increasingly. Cryptocurrency trading allows you to invest from an amount as small as lesser than a dollar to the tune of millions of dollars.
Cryptocurrency trading comes with some very good benefits that could attract you to the market. These benefits could be summarized as follows:
- Keep aside your safety worries: Cryptocurrencies, as the name suggests are secured by cryptography, a very robust encryption technology that makes it invisible to any random person on a network other than the intended receiver while trading. This is a hallmark feature.
- You can trade all time: Yes, you could trade all time i.e. twenty hours seven days a week if you ever wished to. There is no worry of a holiday or missed out trade day. This is facilitated by the peer to peer model of trading incorporated into the cryptocurrency trading network.
- You can leverage money: You could trade with just a little money in your hand and leverage the remaining amount from your cryptocurrency exchange depending on your eligibility. Once you make a profit, just return the leveraged amount back to the exchange.
- You get access to more liquidity: Peer to peer trading allows you to trade with people and access resources across the globe which were once non-accessible. This opens up a lot of opportunities for you as well as people whom you trade with.
- You save money: The absence of brokers in the middle and lesser fees charged for transactions saves you a good sum of money.
- You can choose your cryptocurrency: There are so many cryptocurrencies that you can choose to trade with. Some of the most popular ones are Bitcoins, Ethereum, Bitcoin cash, Litecoin, Monero, etc
Cryptocurrency trading helps Jenifer earn after college hours
Jenifer, a college student found cryptocurrency trading to be a potential source of income during her free time after college. A few days after learning how to trade, Jenifer was able to make a small profit. She had bought half a bitcoin i.e. 0.5 BTC for $3500 by investing $500 from the little savings she had and borrowing $3000 from her father Mr. Rudolph. Half an hour later, Jenifer’s bitcoin was valued at $4700. Without wasting another moment, she sold her bitcoin for the same amount. She returned the $3000 that she had borrowed from her father thus leaving her with a profit of $1200. That brought a smile on Jenifer’s face.