The popularity of Cryptocurrency is on the rise and more and more skeptics are investing in digital assets each day. With people losing trust in central banks, coupled with the allure of investing in a digital currency which could appreciate, these factors have contributed to an industry boom.
What is even more exciting is the options available surrounding Cryptocurrencies nowadays. In the past, investors would simply buy a coin and wait/hope for the value to increase whilst running the risk of having value wiped out of an investment in a volatile market. This is avoidable now thanks to Crypto trading. Much like traditional Forex trading, Crypto enthusiasts can now trade on the projected performance of a coin without necessarily purchasing that asset.
The option of trading Crypto can be far more appealing than investing which comes with constantly monitor price performance. Thanks to leveraged trading on broker platforms, traders can concentrate on: going long and short on a range of Cryptocurrencies opposed to just investing and HODL-ING.
In this article, we will explore some of the major Cryptocurrencies which will suit day traders, scalpers, and swing traders. First of all, let’s consider some factors which contribute to a good Cryptocurrency to trade
Trade over 30 Cryptocurrency pairs with access to leverage of up to 1:100 for digital currency at new broker EagleFX. (more…)
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation seen by Reuters.
In a sign of widening scrutiny after Facebook Inc’s (FB.O) proposed Libra digital coin aroused widespread objection, the bill proposes a fine of $1 million per day for violation of such rules.
Such a sweeping proposal would likely spark opposition from Republican members of the house who are keen on innovation, and would likely struggle to gather enough votes to pass the lower chamber.
Even if it were to pass the full house, it would still have to pass the senate which would also likely be an uphill struggle.
Nevertheless, the draft proposal sends a strong message to large tech firms increasingly eyeing the financial services space.
The draft legislation, “Keep Big Tech Out Of Finance Act”, describes a large technology firm as a company mainly offering an online platform service with at least $25 billion in annual revenue.
“A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System,” it proposes.
Facebook, which would qualify to be such an entity, said last month it would launch its global cryptocurrency in 2020.
Warren Buffett was on CNBC on Monday and was asked about cryptocurrencies after he called Bitcoin “rat poison squared” at Berkshire Hathaway’s annual meeting.
Question: What is it about Bitcoin that gets you so fired up:
Buffett: “When you buy a farm, you look at the crop every year and what prices are and decide whether it was a satisfactory investment. I mean, you look to the asset itself and what it produces for you. When we buy a business, we look at what the business earns and decide how we feel about it in terms of what we paid, but we are buying something that at the end of the period, we have not only what we bought but what the asset produced and when you buy non-productive assets, all you’re counting on is whether the next person will pay you more because they’re even more excited about another ‘next person’ is coming along. The asset itself is creating nothing. (more…)
