Cryptocurrency trading
Cryptocurrency trading involves buying digital currencies such as Bitcoin, Ethereum and Litecoin at a set price and selling them for profit through platforms such as the Coinbase exchange.
Cryptocurrency is decentralized, meaning it can be transferred directly from seller to buyer without a bank as an intermediary. So in theory, cryptocurrencies are protected from government interference.
At the end of 2017, Bitcoin reached an all-time high of £17,000. If you had invested in a bitcoin in 2015 it would have cost you just £215, showing how profitable trading cryptocurrencies can be.
The privacy of your chosen currency is crucial to successfully buying and selling cryptocurrencies.
You need to understand the value and growth potential of each and get involved with the business. Examine past patterns and read the history of the market - in similar situations the market will feel the same way. Recent research can help you predict future peaks and decreases in market value based on similar markets.
Choose your cryptocurrency carefully. The four most popular currencies are Bitcoin, Litecoin, Ethereum and Ripple.
These seem to be the safest and have been around for a while. You can use online platforms such as Kraken, Etoro and Bitcoin UK to trade.
Online trading is never without risk. Many investors took a lot of debt to invest in Bitcoin, and when the price fell, these traders were upset with huge debts. The most important thing here is not to invest more than you have or can afford.
