Why a Reliable Exchange Could Be Your Greatest Asset

Bitcoin, commonly regarded as the only way young people can make serious money, with its glittering promise of allowing new investors to beat the traditional financial system, has made surged from its last peak of $19,000 in 2017 to an all-time high price of $64,863 in April of this year.

However, in September this year, this upward trajectory took a downward direction, ending up at around $43,000 at the end of the month. The latest dip has been attributed to various factors, from China’s latest crypto crackdown to El Salvador’s shaky roll out of Bitcoin as legal. So, let’s review what’s impacted on the price to change the upward price trend, to try to gauge what’s next for Bitcoin and what this means for choosing a reliable crypto exchange.

Fortunately, as the steady stream of Bitcoin bull market news’s begins to die down, it’s providing an opportunity for more rational voices beginning to be heard.

Whether it’s China’s Evergrande property giant’s self-inflicted woes, or news from China’s central bank reiterating a comprehensive ban on digital asset transactions it appears the influence of news on the crypto market is diminishing.

As Bitcoin shows its resilience and is less susceptible to news, it could be that we are seeing the cryptocurrency maturing into a mainstream financial asset that should be a standard asset in personal and institutional investment portfolios.

As a case in point the influential business magazine The Economist recently published an article titled ‘Why it’s a good idea to include bitcoin in your investment portfolio’. According to the report, Bitcoin’s low correlation with traditional financial markets makes it a valuable asset source for portfolio diversification. This article quoted Nobel Prize winner Harry Markowitz who stated that what is important is not necessarily an asset’s risk and return assessed on its own, but its contribution to the volatility of an overall portfolio’s value. This viewpoint helped to lay the groundwork for modern portfolio theory to some extent.

Tesla CEO Elon Musk, who ‘tanked’ the price of Bitcoin in May when he tweeted that his electric car company would no longer use BTC for payment due to high level of fossil fuels involved with its mining, stated at the end of September that the US government should avoid trying to regulate the cryptocurrency market. “I think it’s impossible to destroy cryptocurrency,” Musk said at CodeConference in California, “but the government may slow its development”. The SpaceX and Tesla chief noted that cryptocurrency is “fundamentally aimed at reducing the power of a centralized government, which rankles authoritarian countries like China, where cryptocurrency mining and trading were just deemed illegal”, according to a report in PCMag.

This was Musk’s response to a question from Kara Swisher. Swisher wondered if the US government should get involved in regulating the crypto space. “I would say, ‘Don’t do anything,” Musk said. On Twitter, Musk frequently expresses his support for various digital currencies, including DogeCoin. This impression was no doubt exacerbated by Elon Musk’s appearance on US comedy TV show Saturday Night Live in May when asked “what is dogecoin?”, Musk replied, “It’s the future of currency. It’s an unstoppable financial vehicle that’s going to take over the world.” And when a SNL comic Michael Che asked, “So, it’s a hustle?”, Musk replied, “Yeah, it’s a hustle,” and laughed. Despite this satirical take on the popular mem coin Musk believes that overall cryptocurrencies will help reduce the “errors and delays” of the traditional currency system.

Choosing a reliable exchange is very simple.

Just this year, the total circulation of USD-linked stablecoins such as Tether (USDT), USD Coin (USDC), and Pax Dollar (USDP) increased in value from $30 billion in January to around $125 billion in mid-September. As a result, the total market value of all cryptocurrencies, including Bitcoin, is approximately $2 trillion, roughly equivalent to the total value of all US dollars in circulation — about 30% below its peak of nearly $2.6 trillion in mid-May.

This brisk cryptocurrency growth is bound to raise questions about the traditional financial system. At the moment central banks, most notably China, have implemented measures to restrict Bitcoin transactions, which has caused panic amongst a section of the investor population. Some of the exchanges were shut down, while others simply vanished. Which leaves a lot of people with the question of how to select a good crypto exchange.

BigONE is an exchange registered in the Netherlands which has always complied with the relevant trading regulations. The level of security is best in class for the exchange industry, and there has never been any currency theft or loss at the exchange. It’s for this reason that the company slogan is, “BigONE, more than asset security”.

Beginning in June of this year, BigONE’s promotional activity has gained significant traction, starting with the initial phase costing $30,000 to now when our events cost at least $100,000 — a rare occurrence for the crypto industry.

BigONE took out another $100,000 during a further event in late. The rules of the event were simpler this time around than they were previously. When you opened a futures transaction on BigONE, you received $5. If you opened two futures transactions, you received $10 as a reward, and the reward is real money that could be withdrawn to your bank card or account. While rival exchanges might host similar events, they use futures experience funds or bonuses as rewards. BigONE hands out US dollars, which allows it to stand apart from other exchanges, while at the same time is very attractive to users.

Taken together, the strength of the security combined with the attractive level of promotions, means crypto users focused on futures and those seeking a secure exchange should consider registering with BigONE. It could be your best choice this year!