Cryptocurrencies

Cryptocurrencies, such as Bitcoin and Ether, are continuing to gain significant media coverage.  Recently several friends have been asking me whether I have an opinion on cryptocurrencies (I don’t!).

That said, I figured it might be time to create crypto-dedicated page for people to use a quick starting point for finding more information.

Cryptocurrency Information

The volatility (price fluctuations) of Bitcoin and Ethereum are very large on a regular basis.  Therefore, it is possible to win or lose large amounts of one’s capital very quickly, particularly if using leverage from a broker.  Thus, extreme caution should be exercised!

Naturally, people are attracted to trading instruments touted as highly volatile by the media, because this plays to the human emotions of potentially making a big gain (a long shot).

I have not spent any time researching cryptocurrencies, however related articles regularly pop up on my Twitter feed.  I will add links to them here if there seems to be helpful and/or interesting content.

Here are some examples of stories that the media loves to publish:

Where can you speculate on Bitcoin and Ether?

There are several UK-based brokers who offer the option to speculate in cryptocurrency prices – the speculation is done using “Contracts for Difference” [CFD] rather than in the actual cryptocurrency itself.  ETX Capital and IG Markets are brokers I have used for trading forex in the past – both of them offer crypto trading.  I have not traded crypto currencies with them, so do so at your own risk!

Here’s an article breaking down how the trading actually works.

 

 

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