Azondo On Why Bitcoin Trading Is So Popular
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
Cryptocurrencies are continuing to grow year after year. The price increase in 2020 created a lot of friction, especially when a huge company such as Tesla announced a massive investment in bitcoin. More people started flocking to the crypto space in search of new opportunities.
The crypto popularity is here to stay as more people show interest in investing in the space. While some use it as an investment portfolio, others use bitcoin and other cryptocurrencies to trade actively and make a profit.
Keep reading to discover what makes bitcoin such an appealing asset and why many people trade it.
The Appealing Nature of Cryptocurrencies
The underlying reasons that make cryptocurrencies such an attractive investment is their anonymity, security, and speed. The nature of blockchain technology means that there’s no way to game the system or cheat.
Anyone can look at the transaction records and see the digital cash flow. While the information makes the system transparent, everything remains private, as bitcoin wallet addresses have no relation to real names. That ensures anonymity, protecting the privacy of bitcoin holders.
Blockchain’s security is another reason why 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 cryptocurrencies in a matter of minutes. That’s very practical as you don’t have to wait days as you do with banks.
This nature of cryptocurrencies is what makes the space so appealing. However, there’s more to consider.
Traders usually face transaction fees with traditional banking institutions. Even though there are fees in the crypto space, they are significantly lower. That makes trading bitcoin and other crypto-assets much more appealing. It leaves more headroom for profit.
Furthermore, whenever traders pay a fee with traditional banking, they know that it’s just the bank’s profit. In a cryptosystem, the fees are rewards for those who maintain the whole system. So every time they pay a fee, they’re funding the entire network and keeping the currency alive.
If you’re wondering who’s running the network, you’ll like to hear that there’s no organization behind bitcoin. The network runs through the proof of work method. The so-called miners use their hardware to maintain the network and secure it.
That way, there’s no interference from outside forces such as governments and other powerful bodies. The control and security of the network are in the people’s hands, which is another point that goes in favor of the system's popularity.
Potential for Profit
Bitcoin has received so much attention in the news media because of its volatility. Even though some see that as a risky investment, others are ready to take the chance and try to make a profit. That’s where traders come in and follow the pricing shifts to make profitable trades.
Given price fluctuations, bitcoin is the perfect asset for short-term and long-term trading. For example, daily traders can see changes of 1-2%. This percentage can go up to 5-10% weekly or monthly.
That might not sound like a lot, but given the high value of the asset, it translates to hundreds or thousands of dollars. Therefore, thousands of traders are trying to predict the BTC’s movement patterns to profit from their trades.
Some perform the trades daily, whereas others wait for more considerable shifts in the market to make their move.
The Future Potential
Bitcoin trading is popular because it’s the foundation for all the other crypto projects currently in development. It’s the first cryptocurrency in which people trust the most. Given the rapid growth of the metaverse, bitcoin may be its currency.
Traders are betting on this future potential, actively trading the asset to profit. They are not the only ones excited. Many long-term investors are investing in bitcoin because of this.
It’s Easy to Purchase with Azondo
The ease of use was a big challenge in BTC’s infancy. There weren’t a lot of options available in the market, and getting access to the cryptocurrency was reserved only for tech-savvy users. Nowadays, though, things have become much simpler.
Anyone with a Visa or Mastercard can purchase 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 straightforward to use.
All you need to do is:
- Create an account - The platform is available for all EU and Scandinavian countries. The process requires an email and other personal details for security reasons.
- Pass identity-check - Identity check takes a short processing time that’s under 3 minutes in most cases. Once it’s complete, you can buy bitcoin.
- Purchase bitcoin - 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 you can simply get bitcoin with Azondo in a matter of minutes. Once you get BTC on your wallet, you’re free to transfer it to any other exchange and do with it whatever you like.
Use the cryptocurrency exchange Azondo to Buy BTC
If you’re eager to start investing and trading in the crypto space, using Azondo to purchase BTC is the best option. It’s one of the safest methods of acquiring BTC to an online wallet. Once you buy it, you can send it to another exchange for trading.
After you finish, you can use the same wallet to withdraw funds back to Azondo and exchange them for fiat currency.
Feel free to sign up and use the Estonian exchange Azondo to purchase bitcoin in a matter of minutes.