Month: November 2019
Since it was first introduced to the public 10 years ago, the demand for cryptocurrency among millennials is quite high. The use of digital assets is declared legal to be traded in its capacity as a commodity, meaning that it can be used as an investment asset but is not used as a payment instrument, because many countries only recognize one type of payment instrument which is the current currency recognized by the Central Bank.
Cryptocurrency Takeover: STAGGERRING numbers of MILLENNIALS are PRO-CRYPTO
According to a survey…
A private organization conducted a survey over the past month to see the extent of the interest of the people investing in cryptocurrency. Of the 29 participants involved in the survey, 34.5% of participants were aged 31-50 years, while the remaining 65.5% came from millennials with a range of 17-30 years of age. However, it seems that men’s interest is still far more dominant in this crypto investment with a participation rate of 96.6%. A quite varied figure was actually shown from the background of investors, 10.3% of participants came from freelancers or casual workers, 13.8% did not work, 24.1% were private employees and the remaining 51.7% were business people.
Of course, everyone has their own goals in investing. Most of the participants said that the motivation for millennial investment is to increase income from this digital asset, while others say they want to learn to do business and learn to understand blockchain technology.
It seems that the investment method by trading still has considerable opportunities in Asia. As many as 55% of participants still choose the investment trading method, while the other 4% choose the mining method, and those who use both the mining and trading methods are 41%.
People Believe That Investing In Cryptocurrency Is Safe
All participants believe that cryptocurrency investment is a safe investment. 100% of participants believe this investment can be used as a long-term investment. 96.6% of them will recommend this investment to their colleagues. If you have just received a settlement as part of car accident loans, this type of investment can promise great rewards.
All participants seem to agree that beginners who want to invest in this sector have to be more careful before starting an investment. Multiplying literacy by reading from various sources is enough to help you to be more aware of various acts of fraud that could have happened unexpectedly. In addition, many also suggest that people in the crypto business do business the right way, not a scam. They provide some new assets and provide a trusted platform.
The cryptocurrency business since it was introduced to the public ten years ago does have its own place for enthusiasts. The issue of scams, price fluctuations, indeed still dominates the news regarding this digital asset. For that, as an investor, you are also required to be smart by multiplying references in various sites. By asking the more senior and by doing careful research so that you can avoid fraud under the guise of investment.
Many crypto traders follow crypto signals as they give ideas or suggestions for trading, the buying and selling of a certain cryptocurrency at a given time and value. These signals typically come with a Take-Profit as well as a protective Stop-Loss to cover you from different angles.
The advent and evolution of cryptocurrency has been thought to be an innovative alternative to the existing financial system.
Even if one of the trademarks of crypto is it being decentralized, effectual regulation makes certain its legitimacy. Moreover, although the blockchain technology is very secure, still people are included in trading, exchanges, as well as international coin offerings.
Regulations build trust and permit individuals to identify genuine and legit ICOs from Ponzi schemes and other frauds and scams. Below are some existing rules and regulations for the market of cryptocurrency across the world:
Warnings from the Government
Majority of regulatory initiatives and efforts begin with government warnings, which are usually released by central banks, concerning the drawbacks of investing or trading cryptocurrency. These warnings are intended to enlighten the public regarding the main differentiations between digital currencies and fiat currencies that are released and assured by the state. The warnings rope in the following:
- Volatility of the value of cryptocurrency
- Unregulated organizations that facilitate crypto transactions
- No available legal recourse for individuals who have invested in crypto and unfortunately lost their money
- Cryptocurrencies open opportunities for crooks engaging in activities that are against the law like terrorism and money laundering
Investment and Trading Restrictions
Most nations around the globe still lack regulations and laws purposely intended to govern crypto markets as well as its transactions. Majority of them have merely magnified prevailing laws on money laundering, counterterrorism, as well as other organized criminalities to conceal actors and undertakings that involve digital currencies.
Others on the other hand have moved further and formed laws that deal with crypto trading and investment. Below are a few examples:
- All crypto transactions, including the trade and investment of crypto, are forbidden in Algeria, Bolivia, Morocco, Nepal, and Vietnam.
- Bahrain and Qatar have outlawed every domestic undertakings involving crypto, however citizens are permitted to engage in such undertakings outside their borders.
- China, Bangladesh, Colombia, Lesotho, Iran, Lithuania, as well as Thailand implicitly ban domestic undertakings by stopping any financial institution within their boundaries from facilitating or making possible all forms of transactions involving cryptocurrency.
- Australia permits transactions on crypto, however necessitate exchanges to get a market license or a licensed on clearing and settlement facility.
It is then crucial to do your in-depth research to make certain which undertakings you are lawfully allowed to carry out in your jurisdiction. There are available tools that could aid you with your research, and in automating particular activities making trading easier for you as well as boosting your returns.