Cryptocurrencies are assets on a blockchain that can be transferred or exchanged between different network participants as a means of payment and for the longest time, it attracted the attention of entrepreneurs, investors, regulators and the public in general. However, the significant variation of their prices has triggered a recent discussion on the impact of cryptocurrencies on the existing financial market.
Due to its volatile nature, many remained skeptical concerning the market; thus, only experienced traders and sites like Margex could handle the speculations surrounding the virtual currencies. While these discussions typically shed more heat than light, only stoic traders could withstand and venture into this market.
The number of traders who want to involve themselves in this market rises steadily over the past decade, it is the reason why there is a need to create automated trading techniques. Moreover, cryptocurrencies use state-of-the-art technologies to carry out bookkeeping in the blockchain and conduct global transactions. As a result, it paved the way for the creation of sophisticated trading platforms such as Margex to cater to all crypto trading activities. So now, both beginner and expert traders find it a piece of cake to immerse and gain into the market.
Margex is inarguably among the best crypto trading platforms that enables traders to attain profit when trading in the market, regardless of their level of industry-specific experience. The platform features automation that helps transact trades for traders; thus, experts highly recommend it.
The Margex trading platform users can attest that you can only achieve the best with disappointment being an alien word. In addition to its friendly user interface, the platform offers competitive leverage to professionals and amateurs alike who wish to soar to greater heights in their trading. To deliver all these, Margex has incorporated additional features that help maintain customer satisfaction levels and deliver maximum convenience to the user. This included additional support for German, French, Turkish, Italian, and Portuguese languages. To access the language settings and choose your preferred language, head to “ACCOUNT SETTINGS” and make the necessary changes.
Moreover, in the Margex platform, you can easily resize the charts to your convenience or to achieve a better look. This means that you needn’t have to worry about the charts being too large or too small since you can adjust to your preferred size by simply hovering the mouse cursor over the edge of the chart and resizing it. This is undoubtedly the perfect tool to use to maximize your gains effortlessly and efficiently.
How Do Cryptocurrencies Excite The Financial Market?
Cryptocurrencies, also referred to as Virtual Currencies (VC), have emerged as a digital alternative to traditional payment methods such as credit cards and cash. Due to their digital form and the presence of Blockchain technology, transaction networks of Cryptocurrencies are comparatively fast, transparent, and safe. Consequently, the use of such volatile technology as Bitcoin, Ethereum etc., has generated different points of view from both experts and the general public concerning its impact on the financial market.
One side of the coin depicts cryptocurrencies as a financial medium for criminals, fraudsters, smugglers, and terrorists. This is as a result of their involvement in Dark Web trading and ransomware scams. On the other hand, a school of thought has established cryptocurrencies as a viable investment thanks to the recent surges in Bitcoin and Ethereum. This post focuses on the impacts of cryptocurrencies and the excitement it offers to the financial market.
Unlike traditional business dealings, cryptocurrency transactions do not include agents, legal representatives, or brokers who incur significant expenses and complications in an otherwise simple proceeding. As a result, it means that you needn’t have to worry about commissions, brokerage fees or paperwork. As such, cutting out themiddleman practice enables greater clarity and less confusion.
Under credit/cash systems, your entire transaction history becomes a point of reference for the bank every time you transact. On the contrary, every transaction is a unique exchange with cryptocurrencies, and the terms may be agreed upon or negotiated independently. It guards your financial history privacy, thus protecting you from identity theft which the traditional system is prone to.
Without a doubt, you can attest to the level of extortion the bank imposes when writing checks and transferring funds in the name of transaction fees. Fortunately, transaction fees do not apply in cryptocurrency since the data miners generate Bitcoin, and the other virtual currencies receive compensation from the network involved.
Despite their global reach and technological advances, cryptocurrencies still have a long way to go before becoming central banks’ dominant currency and monetary executive. However, you can expect them to be a currency substitution in extreme cases such as financial crisis, hyperinflation, war, or political turmoil. Thus, regulators should allow the growth of the currency as it has shown to excite the financial market.