What is the Networth of the Bitcoin Market?
Currently, the buying price of one single bitcoin is 61,855.10 in US dollars. In some countries like India, Bangladesh, and the Philippines it is worth over 45 million. It is practically impossible to record the net worth of all the bitcoins exchanged over the years since its founding because of the unreal figure that will emerge as a result of the hyper-positive market trend. But it is not an unnecessary question either to be wondering about the market importance of the bitcoin blockchain. Being the most demanded and hiked crypto-currency the value of bitcoin affects the value of all other digital currencies globally.
The net worth of the bitcoin blockchain or any other currency’s blockchain, for a fact, can be calculated through the time taken by its rate of exchange to increase without any external influence from adjacent economies. Actually, the crypto-trading economy differs from the stock or physical asset trading economy by far and long. Namely because of the involvement of logistics and commute with the latter, we often witness a common phenomenon where the prices in the commodity market change according to the rise or fall in the price of petrol or diesel and therefore the share values of the stocks related to these commodity markets suffer a proportional change, too.
On the other hand, buying and selling prices of crypto-currencies are not affected by issues relating to commuting or the physical transfer of assets internationally. In fact, the demand of crypto-exchange will increase every time physical asset exchange is faltered due to a lack of communication facilities, vehicular backlog, or even during a pandemic such as now.
Then is it correct to say that digital currency trading has several major advantages over conventional trading of assets globally and can potentially replace the older methods of profit creation? To start with, here are a few ways in which trading of crypto-currencies proves to be a more efficient way of financial dominance:
Due to the global acceptance of crypto-currency as a measure of exchange value even if not a direct legal tender actually increases its flexibility in the form of an international unit for asset measurement. Once an asset’s value is consolidated into smaller figures by measuring it in bitcoin or ether or any other crypto-currency it becomes easier to calculate the profit over it as it multiplies. The value can be converted to USD or Euro any time and therefore it is a more flexible method of recording valuations.
The correlation between different crypto-currencies in the trade is actually an advantage as opposed to the stocks of commodity industries. Because of the existence of supplementary commodities like tea and coffee or rival brands of the same commodity, it is a common phenomenon that the price difference is inversely proportional, to put simply, the change in the price or demand of one commodity oppositely affects the price or demand of the other commodity. But in the digital currency blockchains it is often the interdependent currencies pull each other’s demands up due to the fact that they are built by the same coding, differing only on terms of the capacity of storing data or conditions of liquidity. Therefore no matter which currency you invest in, there is always a chance of a drastic price hike especially when similar currencies gain a rise in price.
3. Convenience of transaction:
Crypto-trading has emerged as the most popular form of asset exchange due to the convenience of processing each liquefaction request. Bitcoin, besides being the highest asset capacitating crypto-currency, is also the cheapest provider of overseas asset transfer. Both transferring and transacting assets through digital currency is safe, convenient and faster than any other trading method.
Apart from these major pros, there are several other advantages of crypto-trading including ease of tax evaluation, tax budgeting over high priority assets and profit synchronization through cloud space. The more important question is: how should you avail these advantages and take your first step toward investing in the crypto-trade? The answer is absolutely simple. In this era of super-computing, there are specialized apps or hot wallets to provide you with an expert-advised, smooth trading experience. These decentralized exchange platforms like https://bitcoin-system.site/ are A.I generated programs for synching in all the advantages of digital currency trading into one single touch. Bitcoin system and other apps can be personalized for specialized user experience and you can try them out any time by opening up a free account!