With each passing day, more and more people are becoming aware of bitcoin. Even though a small population is not well versed with the operations of bitcoin and cryptocurrency. This notwithstanding, more investors have been witnessed to consider investing and invest with bitcoin.
Amongst the many types of cryptocurrency that are available today, bitcoin ranks among the cryptocurrency of interest. However, many people may not know that there are over 2000 others.
In the past years, we have had investment options that were more practical in terms of how they operate. This cannot be said to be the same today. Technology and other affiliated development have seen the transient changes that have come into play as far as investment options are concerned. In the earlier years, transactions involving buying and selling meant that the actual exchange of cash from buyer to seller would take place. On top of this, a physical meet-up would be necessary; verification of product was also a must-do. Intermediaries or go-betweens like banks and witnesses would also be used to necessitate these transactions. For instance, cash would have to be withdrawn from the buyer’s account before it is further deposited into the sellers’ account.
However, in the current world of cryptocurrency trade, all these are considered null and void since transactions between buyer and seller are carried out remotely via the blockchain system. In this technology, the presence of intermediaries is uncalled for, and therefore the process is more secure, faster, and fraud-free.
Needless to mention, cases of having to carry money in bulk have been outlived as these transactions are initiated on a blockchain network and are over and done with, in a short period. It is also cheaper and less time-consuming.
Cases of either party bolting out of an agreement prematurely are also unheard of since the involved parties can effectively make use of a smart contract.
This is why investing with British Bitcoin Profit is a bold step towards realizing the cryptocurrency trade potential. It offers the most trending news that guides the approach you use while trading in bitcoin. Thousands of people are using British Bitcoin Profit to realize profits while trading.
Bitcoin Volatility
For any investor who is interested in investing in cryptocurrency or trading in cryptocurrency, bitcoin could be a good starting point. This is mostly due to the bitcoin volatility.
Volatility is simply the ability of Bitcoin to gain above price margins barely after making a downward plunge, following issues like the Elon –Musk related news about his declaration about Tesla not to join cryptocurrency, then shortly afterward sharing on social media platforms about his changed plans and intention to do so. These are major drivers to the bitcoin volatility, during a time which more investors are usually observed to buy bitcoin or sellers disposing of their coins, depending on the prevailing circumstance.
Other factors affecting bitcoin volatility are prevailing health and economic situations like the global pandemic and government /imposed regulations. Cryptocurrency trade and operations enjoy a decentralized system of operation.
According to CNN Business, as of July 20, 2021 cryptocurrency trade went down by nearly 7%. By this time, bitcoin was trading at $29,800, which was the recorded lowest since June. Others also plunged, with Etherum down by 7$ and dogecoin down by nearly 7$ too.
Looking at previous trends, these variances have been seen mostly following different situations that arise from time to time thus causing fluctuations in the bitcoin prices. With this in mind, a wise investor will not shy away from taking the step but instead will plan to buy coins during the plunges when the prices are low. In this case, you can only hope to sell at profits.
