Crypto trading has become extremely popular in the recent period. The reason for that is because they are a pathway to a massive profit. Some research has shown that there are over 100,000 millionaires in the world today who made their fortune by trading with cryptocurrencies.
The crypto network counts more than 5 million users and that number is increasing every day. Some experts even believe that due to the fact cryptocurrencies are so well-accepted and their popularity is rising daily, a point in the future might be reached where a majority of the world’s population uses them as a payment method and the governments will be forced to make them official.
There is nothing to do but wait for that moment to come, which is why in the meantime, we decided to name a few interesting facts about crypto trading. Let’s check them out.
Cryptocurrencies Come With a High Volatility Rate
One of the biggest challenges that come in trading with crypto is to maximize your profit. That is because cryptocurrencies have a high volatility rate. The volatility rate is an indicator of how often the cryptocurrency’s value is subject to changes. The most volatile cryptocurrency these days is Bitcoin. Bitcoin’s price can increase or decrease by the thousands in a matter of a few days.
Trading Sites is Where The Magic Happens
Crypto trading can lead to riches, that is a given. But, even though many are familiar with the fact that you can make money, they do not know how the process goes. So, let us explain. The marketplace where cryptocurrencies are being traded for a profit is called trading sites.
One of the most reputable platforms of this character is the Yuan Pay Group. This platform helps the traders deal with the aforementioned volatility rate in the most sophisticated way. Yuan Pay Group has an advanced AI system that collects all the data about cryptocurrencies on the market and analyzes it to predict its future fluctuations with great precision.
This information is then shared with traders who know when to sell their assets and generate the highest possible revenue. If you are a novice trader, then you should consider using this platform. The Yuan Pay Group review on BuyShares can even provide you with many more details about the site and it is worth a read.
Many Celebrities Have Invested in Crypto
One of the biggest myths that surround cryptocurrencies is that they are a scam and nobody invests in them, which is of course, not true. Millions of people around the world have done that and there are tons of celebrities in that group.
Floyd Mayweather, Paris Hilton, Snoop Dogg, 50 Cent, Gwyneth Paltrow, Elon Musk, and many more a part of the network. Recently, even rapper Logic stated that he invested $6 million in Bitcoin, which is a mesmerizing number.
To make things even better, many global brands around the world even accept cryptocurrencies as a payment method. Expedia, Shopify, Wikipedia, Microsoft, and Starbucks are just a few honourable mentions.
How Many Cryptocurrencies are There?
Most of the world is familiar with just one cryptocurrency – Bitcoin. Because Bitcoin has been breaking records in value left-and-right and it is the headline news at every news portal, we can see why it is the most popular cryptocurrency.
But, there are thousands more on the market. Litecoin, Dogecoin, Ethereum, Bitcoin Cash, Binance Coin, Tron, and Chainlink are just a few to mention. Recently, even Facebook announced that they will enter the crypto world with a cryptocurrency and an e-wallet of their own. Diem is the name of the cryptocurrency and it is set to be launched soon. The original name for Facebook’s cryptocurrency was Libra, but the company decided to change it.