This year has seen a huge influx of trading volume and investment from both large institutional investors, and smaller-scale retail investors alike.
When considering how to invest in cryptocurrency, the first logical steps are to research strategies that are available, as well as researching the various trading platforms available.
In this guide, we’ll look at what cryptocurrency is, how cryptocurrency investing is different today compared to the past, and which platform has outperformed the market significantly in 2019.
What is Cryptocurrency?
Cryptocurrency rests firmly at the intersection between finance and technology, and since the expansion of the popularity of it and it’s underlying technology, blockchain, at around 2013, cryptocurrency has been one of the world’s most exciting cutting-edge technologies.
The term “cryptocurrency” was coined by its creator(s), the notoriously anonymous, “Satoshi Nakamoto”, within the release of the details of blockchain technology, cryptocurrency in general, and its first and most famous incarnation, Bitcoin, in the Bitcoin Whitepaper of 2008.
Cryptocurrency is a type of digital money, that allows globally-separated parties to seamlessly transfer value and make payments in trust-less environments.
Unlike normal currencies like USD and the Euro, cryptocurrencies like Bitcoin aren’t created and managed by a central bank, but instead, are regulated by mathematical algorithms.
How Has Investing in Cryptocurrency Changed in 2019?
Unlike the “early” days of cryptocurrency investment from around 2009 and 2010, today many different trading platforms around the world provide opportunities for investors to quickly and easily purchase crypto.
Historically, cryptocurrency prices were renowned for being able to be manipulated by large holders known as “whales” because of significantly lower liquidity than is seen today.
Increased exposure, popularity and trading volumes mean that now volatility is lower than it used to be, although the cryptocurrency market is still one of the most volatile, and therefore most profitable, asset classes in the world.
Where is the Best Place to Invest in Cryptocurrency?
Newer platforms have sprung up and replaced the older generation of cryptocurrency trading platforms - bringing with them powerful new features allowing for better ways of trading.
PrimeXBT is a multi-asset cryptocurrency brokerage that has led the market for growth in trading volumes, riding the trend amongst cryptocurrency investors to look for newer platforms in 2019 that are simply outpacing many more simplistic platforms.
PrimeXBT not only lists a wide range of the top crypto-assets, but allows for advanced features such as shorting and up to 100x leverage on all assets, as well as the ability to invest into peer-to-peer funds created by other traders, and expansive listings of over 30+ of the world’s leading forex, commodities and stock indices traditional assets.
How to Invest in Cryptocurrency in 2020
While many traders have now migrated to newer platforms for cryptocurrency investing like PrimeXBT throughout 2019, this trend looks to continue further as crypto-assets become more and more exposed and thousands of new investors join the market each month.
Opportunities to profit from cryptocurrency investment, and to build profitable revenue streams, have never been more abundant. However, selecting the right place to trade and invest is an important factor for consideration, especially with such a wide array of cryptocurrency trading platforms available today.