Disclaimer: The text below is an advertising article that was not written by reporters at Cryptonews.com.
Cryptocurrencies continue to grow from year to year. The price hike in 2020 created a lot of friction, especially when a huge company like Tesla announced a massive investment in bitcoin. More and more people have started to flock to the crypto space in search of new opportunities.
The popularity of crypto is here to stay as more and more people become interested in investing in the space. While some use it as an investment wallet, others use bitcoin and other cryptocurrencies to actively trade and make a profit.
Read on to find out what makes bitcoin such an attractive asset, and why so many people are trading it.
The attractive nature of cryptocurrencies
The underlying reasons that make cryptocurrencies such an attractive investment are their anonymity, security, and speed. The nature of blockchain technology means there is no way to play with the system or cheat.
Anyone can view transaction records and view digital cash flow. Although the information makes the system transparent, everything remains private, as Bitcoin wallet addresses have nothing to do with real names. This ensures anonymity, protecting the privacy of bitcoin holders.
The security of the blockchain is another reason cryptocurrencies are so popular. The whole system is free from hacking, making the space safe from outside intruders who want to steal money.
Last but not least, the speed of sending payments is exceptionally convenient. You can send and receive cryptocurrency within minutes. It’s very convenient because you don’t have to wait for days like you do with banks.
This nature of cryptocurrencies is what makes the space so attractive. However, there is more to consider.
Traders generally face transaction fees with traditional banking institutions. Even though there are fees in the crypto space, they are significantly lower. This makes trading bitcoin and other crypto-assets much more attractive. This leaves more room for profit.
Moreover, every time traders pay a fee with the traditional bank, they know that it is only the bank’s profit. In a cryptosystem, fees are rewards for those who maintain the entire system. So every time they pay a fee, they fund the entire network and keep the currency alive.
If you are wondering who runs the network, you might like to hear that there is no organization behind bitcoin. The network crosses the proof of working method. So-called miners use their hardware to maintain and secure the network.
In this way, there is no interference from outside forces such as governments and other powerful bodies. The control and security of the network is in the hands of the people, which is another point in favor of the popularity of the system.
Bitcoin has received so much media attention due to its volatility. While some see it as a risky investment, others are willing to take the risk and try to make a profit. This is where traders come in and follow price changes to make profitable trades.
Given the price fluctuations, bitcoin is the perfect asset for both short and long term trading. For example, daily traders can see changes of 1 to 2%. This percentage can go up to 5 to 10% per week or per month.
It may not seem like much, but given the high value of the asset, it translates into hundreds or thousands of dollars. Hence, thousands of traders try to predict the movement patterns of BTC to profit from their trades.
Some trade daily, while others wait for bigger changes in the market to take action.
The future potential
Bitcoin trading is popular because it is the basis for all other crypto projects currently in development. It is the first cryptocurrency that people trust the most. In view of the rapid growth of the metaverse, bitcoin can be its currency.
Traders bet on this future potential, actively trading the asset for profit. They aren’t the only ones excited. Many long-term investors invest in bitcoin for this reason.
It’s easy to buy with Azondo
Ease of use was a big challenge in BTC’s childhood. There weren’t many options available in the market, and access to cryptocurrency was restricted to tech-savvy users only. Nowadays, however, things have gotten much simpler.
Anyone with a Visa or Mastercard can buy bitcoin and start trading it. The simplicity of the whole process has attracted countless other traders to join the space.
Take the cryptocurrency exchange Azondo, for example. The bitcoin exchange platform is simple to use.
All you need to do is:
- Create an account – The platform is available for all EU and Scandinavian countries. The process requires email and other personal information for security reasons.
- Pass the identity check – Identity control takes a short processing time, less than 3 minutes in most cases. Once completed, you can buy bitcoin.
- Buy bitcoins – Enter the amount of BTC you want to buy and use your debit or credit card to make the purchase. Azondo automatically generates a Bitcoin wallet for you where you receive the cryptocurrency.
The three-step process shows how to simply get Bitcoin with Azondo in minutes. Once you get BTC on your wallet, you are free to transfer it to any other exchange and do whatever you want with it.
Use the Azondo cryptocurrency exchange to buy BTC
If you are eager to start investing and trading in the crypto space, using Azondo to buy BTC is the best option. It is one of the safest methods of acquiring BTC on an online wallet. Once you buy it, you can send it to another exchange for trading.
Once you’re done, you can use the same wallet to withdraw funds from Azondo and exchange them for fiat currency.
Do not hesitate to Register and use Estonian exchange Azondo to buy bitcoin within minutes.