Human beings are always on the lookout for the next big thing in life. We don’t just settle for second-rate items or luxuries because we only want the best our money can afford. Although we don’t always get what we want, it gives us more reason to work harder and hope for a brighter future. If we want to uplift our lives, we must be able to act timely on opportunities or forever miss our chance of experiencing something really great in our lives.
Knowing that we are now living in the digital age, it is safe to assume that the majority of the population is hooked on some sort of tech device in their day-to-day lives. We are a generation that can’t live without social media and the Internet – a far cry from the lives led by our parents and grandparents in the past. Yet, this is the reality of our times whatever part of the globe you may be living in. So, it no longer comes as a surprise that the new opportunities presented to us are also in the digital form. What am I talking about? Bitcoins.
With cryptocurrencies like bitcoin quadrupling in value this year alone, high frequency players are finding their way to the new Wild West of trading that some believe is in bubble territory. Proprietary trading firms are particularly well positioned to pursue cryptocurrency trading because they are in the business of putting their firms’ own capital to work. The fiduciary obligations Wall Street’s hedge funds have to their outside investors often preclude them from trading bitcoin and other cryptocurrencies. The big Wall Street investment banks like Goldman Sachs have their own institutional limitations.
“The only place to start an institutional-sized bitcoin trading desk in 2014 would have been at a principal trading firm like DRW,” Komaransky said in an interview conducted over email with Forbes.
You’d be surprised at how Bitcoin investors are enjoying their profits today. Cryptocurrency is the name of the game nowadays and everyone who wants a good investment turns to it because everybody wants to have a slice of the pie. It is a great way to double, triple, or even quadruple your money, something you won’t be able to do with conventional investments.
The cryptocurrency space in India is likely to soon light up as major players enter the market and plan to offer trade in many other cryptocurrencies apart from bitcoin.
Poland-based cryptocurrency exchange, BitBay will soon launch its services in India and enable users to buy and sell 6 altcoins (alternative cryptocurrencies to bitcoin).
A few exchanges like Zebpay, Unocoin, and Coinsecure have been there for a while, providing a platform for trading bitcoin but have not yet introduced various altcoins like ethereum, ripple, dash etc. on their platforms.
Riding on the back of bitcoin’s popularity, altcoins have rallied exponentially since the start of the year. The market cap of altcoins has shot from USD 2 billion to USD 77 billion since the beginning of the year.
With the entry of BitBay, users will have access to some of the most popular altcoins like litecoin, ether, monero and dash which have rallied over 1,050 percent, 3,825 percent, 620 percent, and 2,216 percent year-to-date respectively, as per Coinmarketcap.
Cryptocurrency may still be a novel item for most tech users right now but it won’t be for long as these alternative currencies are currently taking the world by storm. Investments are skyrocketing and many hypes about it on social media, so it is no longer surprising if many are asking about it on a daily basis. Since the start of 2017, Bitcoin’s value kept on rising and it has encouraged investors to put in more money and buy more crypto currencies making it the multi-billion industry that it is today. Bitcoin is actually just one type of cryptocurrency. There are many more that you can invest in if you are willing to take the risk of this highly unstable market.
Bitcoins: The New Gold Rush is republished from Euro Toques