Cryptocurrency is a type of digital currency. It utilizes an advanced encryption protocol known as cryptography in keeping its data safe. After the introduction of bitcoin in 2009, cryptocurrency has taken a surge in becoming very popular globally. Bitcoin attracts investors’ attention all over the world. Mostly because of the rapid increase in price rate in 2013. With this increase in the price of bitcoin, cryptocurrency has always been the topic of the day. Almost everybody nowadays is eager to learn about the trading and cryptocurrency and its promising future.
There is no doubt that there will be a day where bitcoin will eventually displace the physical currency. It will likely be conventional and ubiquitous than physical currencies like the Euro, pounds, and dollars.
In light of the above, it is safe to assume that cryptocurrency’s future still lies with Bitcoin. This assumption is because there is yet to be another currency superseding it. No doubt that there are other cryptocurrencies showing signs of providing something extraordinary for investors in the future. According to professional investors, there’s still a significant change coming from cryptocurrency that will boost its usage in different locations worldwide.
Cryptocurrencies to invest in for future
The future of cryptocurrency is promising and is creating extraordinary opportunities for investors. For most cryptocurrencies, their future is still a subject of debate. The international government regards decentralized and anonymous transactions as the host of illegal and criminal activities involving money laundering. However, despite these issues cryptocurrency encounters, the system continues to grow stronger, with several businesses implementing digital currency for payment purposes.
With this fantastic breakthrough for the future of cryptocurrencies, many companies now accept digital currencies that have promising lots for investors. With these new cryptocurrencies showing signs of potential opportunity in the future, investors will have something to invest in and trade, which will generate a high return like Bitcoin.
Cryptocurrencies to invest in the future include:
Even though the name is not popular as Bitcoin, Ripple shows signs of having a promising future after its introduction in 2012. OpenCoin is responsible for its launch, after its introduction by Chris Larsen. Ripple provides a low token rate, which gives everyone the ability to invest in its network. With these features, along with its low transaction fees, Ripple provides a fantastic investment opportunity for anyone. Ripple operates an advanced system that allows it to process transactions much faster than other cryptocurrency networks.
Litecoin is very popular when it comes to the cryptocurrency marketplace. Most people refer to it as the leading rival of bitcoin because of its ability to process transactions faster than Bitcoin. Litecoin was unveiled in 2011 by Charles Lee as a coin that is silver to Bitcoin gold. Unlike other cryptocurrencies, Litecoin has already made a remarkable breakthrough since 2011 in the race of ranking among the best digital currencies. Another fantastic thing about Litecoin is the mining process that is very easy than bitcoin. Bitcoin requires a complex computer for its mining process, but you can mine Litecoin with a simple computer system. Litecoin comes with a fantastic speed of processing transactions along with a low charge fee.
We recommend investing in the two cryptocurrencies in the future. Other popular digital currencies are remarkable in having a promising future, such as Ethereum, Bitcoin cash, etc.
Nowadays, bitcoin faces many challenging problems, which can be a result of hackers and computer failure. With the advancement of technology, there’s no doubt that cryptocurrencies will rise to overcome these challenges. Cryptocurrencies are already attracting the government’s attention. Their aim is implementing a strict regulation; it will likely have a significant effect as they become more popular.
Several consumers are now making use of cryptocurrencies. Its use can quickly increase, and cryptocurrency will gain widespread acceptance by many people.
Forex vs. cryptocurrency trading
What most people don’t understand is that cryptocurrency trading is similar to forex. It’s easy to disagree that forex involves intermediaries, brokers, and other financial institutions that charge a tiny amount of money as the user trades.
However, cryptocurrency trading is quite different from forex, as no middlemen are collecting those annoying fees. Both cryptocurrency trading and forex involve the exchanging of currency to generate a return. The cryptocurrency and forex market are unpredictable and volatile, which means it’s market price can either go up or down unexpectedly. Even with the popularity of cryptocurrencies nowadays, you can also trade currencies like Ethereum, Litecoin, and others at a lower margin.
Although, what worries people the most is whether forex or the trading of cryptocurrency is more profitable. Based on the analysis, both cryptocurrency and forex trading is beneficial if you achieve the right result. Forex and trading of cryptocurrency are similar to the trading of other commodities. When it comes to forex, it is easy to access and trade directly through a broker and has many currencies made available for trading in the marketplace.
US forex brokers that trade cryptocurrency
There’re a lot of US forex brokers, which allows the trading of cryptocurrency from their platform. The trading of bitcoin was legal in the US as of February 2020. However, the law will likely vary across each state in the United States. Ever since the IRS has found the bitcoin system promising, they are issuing taxpayers’ guidelines in the United States.
These US forex brokers offer cryptocurrency trading to people and other essential benefits such as improving security protocols, wallets, user-friendly platforms, and more. With forex brokers, you will have the chance to trade different cryptocurrencies, whether Bitcoin, Ethereum, etc.
The best online US brokers that trade cryptocurrency includes:
Coinbase is very popular in the United States when it comes to reputable forex brokers that allow cryptocurrency trading. Coinbase’s unveiling in 2012 as a professional forex broker makes millions of users use their trading currency platforms. Coinbase allows its users to create a wallet, giving them the ability to store different currency types they trade. With Coinbase, users can quickly sell, buy, or store cryptocurrency of their choice, making it the best US forex broker.
Etoro is a leading broker for trading and investing in cryptocurrencies, stocks, ETFs, other currencies, etc. They are a safe broker in the US, UK, and other countries because their management is reputable financial authorities. Etoro is a social trading and asset brokerage company, with its launch date in 2006. Unlike other US forex brokers, Etoro offers a low fee for processing transactions.
Etoro offers a no charge fee for receiving and sending cryptocurrency with a 0.1% conversion fee based on market rates. Unlike other brokers, Etoro has a low withdrawal fee, and the minimum withdrawal amount depends on the type of cryptocurrency. Etoro has made a remarkable breakthrough in providing extraordinary service for people in the United States. Though now, their use extends to over 170 countries and is still counting. This expansion shows that Etoro has an impressive future as a forex broker for trading cryptocurrency.
Robinhood is a very popular broker in the American trading market. Since its launch in 2013, it makes a remarkable breakthrough in creating unique features for investors, such as trading stocks, ETFs, and options. Its features include a user-friendly platform and a mobile app.
Robinhood offers its users a free trade with no account minimums. Robinhood’s design is for any investor. Whether you are a novice or expert, there’re many educational resources available to learn for trading purposes. They offer a wide range of deposit and withdrawal methods, useful to users residing across different US locations.
Among these cryptocurrency brokers, several other potential brokers allow users to trade crypto forex.
The trading of cryptocurrency has been active for a while now, helping people make profits. However, there’s no doubt that the trading of cryptocurrency is hazardous. It requires users to subject their funds to the system while depending on the cryptocurrency markets’ volatility. Cryptocurrency has a professional strategy that calculates the risks, and it takes standard precautions. The trading of cryptocurrency will become an opportunity to make money. All you need is a professional forex trading cryptocurrency broker. A broker that provides adequate security and the necessary trading features any investors and want!