The cryptocurrency market is still developing, despite the overall market collapse in the spring of 2022. Ultimately, many investors believe that the best option is to buy cryptocurrencies when they are cheap, and the market is falling, and hold them until prices start to grow and a new uptrend begins. Besides, fiat money is printed, which leads to an increased level of inflation. On the contrary, crypto assets cannot be printed. Neither central banks nor governments can issue more crypto assets or cut their emission. The number of crypto coins is laid in the algorithm, so you cannot issue more coins. This is the main difference between fiat currencies and crypto. When people buy cryptocurrencies, they protect their money from inflation in the long term perspective.
Why Do People Buy and Trade Crypto?
Here are some reasons why it is worth buying digital assets:
- Low fees. Compared to bank fees for transferring money, cryptocurrency transactions are much cheaper.
- No banking regulation.
- Global transactions without delays: lightning-fast money transfers are only possible with cryptocurrencies.
- No intermediaries and no additional costs.
- No restrictions. Compared to fiat, cryptocurrencies have no restrictions on deposits and withdrawals, and money can be transferred worldwide.
- Full transparency of transactions: all transactions are recorded on the blockchain. They cannot be hidden or deleted.
Cryptocurrency prices are not controlled by banks and are, therefore, very volatile, and if you know how the market works, you can trade crypto and profit effectively. Successful trading requires thorough knowledge of the market and trading methods. Cryptocurrencies have the same use cases as fiat money and can be used to buy services, order food, pay in restaurants, book hotels and travel tours. If you want to buy crypto online, we welcome you to WhiteBIT. It is a reliable and trusted platform for trading and investing in cryptocurrencies.