The value of cryptocurrencies has taken a huge leap in the past 10 years. For example, the value of 1 Bitcoin in the year 2009 was less than $0.003. However, its current value has jumped to over $8,700. Similarly, the value of Ethereum, another popular cryptocurrency, has risen from almost nothing to $544 as of today. Hence, it is no wonder that today’s stock market is buzzing with cryptocurrencies and its trades. The financial experts are looking for every possible source that they can exploit the current profitable situation with cryptocurrency.
However, if one is amateur to the crypto world, one may wonder about all the hype is about with these virtual currencies. Here is a look at what the experts have to say, which will help you understand better the thrill of trading with digital currencies.
- Digital currencies, in the order of their market capital value in the present financial market, are Bitcoin, which is followed by Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, and
- Almost all of the virtual currencies have seen a 200% growth in its share value since their launch.
- Over 13 million different users from all over the globe have been using cryptocurrencies, for trading/mining, transferring of money, buying goods of their choice, gambling, and many more such interesting activities.
- The largest online platform that stores the highest number of digital currencies is the Coinbase. The overall monthly volume of the number of trades that happens between currencies on Coinbase is in two-digit billions of dollars.
- Of all the people working for Bitcoin, only 15 members constitute its core development team.
- Today, it is better to invest in ICOs (Initial Coin Offering) than investing in IPOs (Initial Public Offering), says an ex-trader from JPMorgan, who is currently serving a term as a Bitcoin Fund Manager.
- Governments in several different countries are looking for ways to regularise the usage of cryptocurrencies due to the rising pressure from both the free-market Democrats and Republicans.
- Some countries in the United Kingdom, such as Great Britain is gearing up a task force entirely for the digital currency.
If you are still confused and do not see the light at the end of this tunnel, then all you need to know is that the whole credit of this system’s stability and fast growth may be contributed to the decentralized application of the cryptocurrency system.