Trade Cryptocurrencies like Ripple, Bitcoin and Ethereum
What are Cryptocurrencies
From time to time, the term cryptocurrency has grabbed a spot in multiple news outlets with experts suggesting that it is the future of holding money in the digital era. Simply put, cryptocurrency is a decentralized virtual currency which applies mathematical principles to secure and verify transactions. Cryptocurrencies is a dawn of a new economy which offers a unique way of storing and spending money anonymously. That implies the absence of the intervention from the central bank or any financial institution. trading stock in the given capital market. DigitalBit aims to enhance your trading performance by providing you with incredible forex trading signals to ensure your continued growth.
The technology used in cryptocurrency is relatively new, and very soon, financial institutions are likely to incorporate the procedure when conducting their financial transactions. This digital cash system has provoked fascination even in DigitalBit which has embraced it accordingly to help conduct transactions. One fantastic thing about cryptocurrency is that records kept are not susceptible to exploitation mainly from hackers. All transactions get recorded in a digital public ledger called the blockchain which cannot be changed once verified.
The most popular cryptocurrencies:
Bitcoin
Bitcoin is the most popular cryptocurrency. In the last couple of years, Bitcoin has maintained an outstanding reputation regarding its stability and popularity among users.
Litecoin
Litecoin is a form of cryptocurrency started by a former Google employee. More retailers are accepting Litecoin because it is a peer-to-peer internet currency that allows users to transact with anyone in the world at a relatively reduced cost. This global payment network is decentralized and enables individuals to control their finances in a secure, fast, transparent, and efficient method.
Types of cryptocurrency wallets:
Desktop wallets
These are secure wallets that store your Bitcoins on your hard drive. But desktop wallets are only convenient for small amounts of Bitcoin since they are connected to the internet and hence can be insecure.
Online wallets
These are Bitcoin wallets that run on your web browser and can be accessed from anywhere. That implies you can check your balance or track your transactions from any place.
Mobile wallets
This platform allows individuals to carry their credit or debit card in a digital form such that one can make payments from their smart devices.
Paper wallets
These are pieces of paper that are becoming more popular by the day because of the comfort of use. Paper wallets are extremely secure because they let the owner take charge of security measures.
Hardware wallets
These are popular cryptocurrency wallets suitable for beginners because of their ultra-secureness. Hardware wallets can either be connected to a device or disconnected. You can use a USB device to store Bitcoin electronically and your private address keys which must be sent to Bitcoin network for confirmation before access.
Challenges of using cryptocurrency
Cryptocurrency itself is new in the market and more business lack enough awareness to incorporate it into their daily operations fully. Cryptocurrency hasn't reached its full potential to dominate the crypto market completely.
Furthermore, cryptocurrency market is never stationary. The exchange rates keep varying which makes it hard to predict where the rates will be the next day.
Why trade cryptocurrencies with DigitalBit
The invention of cryptocurrency is the best thing that has ever happened to the planet earth. In this digital era, there is a need to digitize your cash, with that being the primary reason why you should incorporate the use of cryptocurrency. DigitalBit hasn't been left behind and has included this system in our daily activities.
The future of cryptocurrency is most promising. The cryptocurrency market is fast and wild, mostly ready to turn the world around. The revolution is already happening, and DigitalBit is no exception. Institutional investors have begun trading cryptocurrencies with us because they have realized this phenomenon has the potential to boost control of their trade.
At DigitalBit, we believe in the validity of cryptocurrencies because forex trading involves significant financial transactions that can be unsafe or insecure. That justifies our primary reason why we have shifted towards the use of digital cash to prevent you from falling a victim of fraud. A few other reasons why you should trade cryptocurrency with DigitalBit includes:
- Low transaction fees - We believe cryptocurrency is a viable investment because of the lower transaction fee. Compared to the traditional trading method, trade with DigitalBit has low transaction fee because the network compensates the remote computer system in addition to small fees for significant transactions.
- Complete access to your money - With your digital key, access to your currency is yours alone. Unlike cash you store at a bank, your use of your cryptocurrency cannot be frozen or limited by any entity.
- Identity protection - Cryptocurrency has increased the ease by which one can conduct international trade. Trading with cryptocurrency doesn't require an individual to submit sensitive banking information which might get stolen. Instead, one can trade with cryptocurrency by receiving it directly without any data being sent.
- Easily Accessible - One significant advantage of why you should trade cryptocurrency with DigitalBit is because of accessibility. Peer-to-peer aspect of the blockchain technology enabled cross-border transactions aided by the fact that billions of people can access the Internet. Cryptocurrency transactions are available to consumers with access to digital infrastructure and hence does not requires the bank to receive payments electronically.
- Risk-free for sellers - You won’t be a victim of fraud once you consider trading cryptocurrency with DigitalBit since payments using cryptocurrency can’t be reversed. Another incredible aspect is that most cryptocurrencies use a proof-of-work system which limits exploitation of cryptocurrency mining.
- Decentralized trade - It implies that you can engage in cryptocurrency exchange without a central controlling server. As a result, you have full control of funds rather than relying on a central corporation. At DigitalBit, we let you have custody of your deposits. You can control all the money since the network uses a P2P network architecture. Thus, you can engage smart contracts and manage your funds at all times with no third-party escrow intermediary required to facilitate trade.
Conclusion
Be part of history by joining DigitalBit today which is always at the forefront of making trading easy. As an online Forex broker, we strive to make our clients reach their individual's goals as we continue to innovate and improve our crypto infrastructure.