Back to the list

Could Crypto Trading Be So Popular Because It Comes with no Minimum Requirements?

Nick James

Throughout the last few years, crypto has become enormously popular. Having cost literally cents in its beginning stages and then reaching up as high as $20,000 at some point, it has definitely been a wild ride for Bitcoin and all crypto enthusiasts. The point is, with such high diversity and choice, along with such a high-profit potential, the crypto market attracted not only the financially-savvy enthusiast investors but beginners who dreamt of becoming millionaires as well.

In this day and age, the global financial market is extremely large and diverse. There’s something to satisfy every kind of taste and interest. However, with the growth and diversification of the market and its participants, a need arose for something more affordable. Or, at least something with an affordable entry-point.

27-02-2020 09:50:42  |   Technology
As an example, Forex has been a perfect solution for people who were not able to get into the stock market due to financial reasons. How much to start trading FX? This was one of the main questions that beginners had when Forex first became a thing. However, to most people’s delight, Forex has proven to be a saving grace, a breath of fresh air if you will, from the stock market, that sometimes requires you thousands of dollars just to get started. In the end, Forex turned out to be what led a lot of people to get started with trading and investing, as a medium with a cheap and affordable entry point for the general public.

The great advantage of crypto is the fact that just like Forex, it doesn’t take thousands of dollars to get started. In fact, you can start with even as little as $1. This is one of the greatest advantages that crypto offers, as it doesn’t discriminate between those that begin with thousands of dollars and those beginning with just a dollar. This is extremely important for rookie investors because as a beginner, it’s inevitable that you make a lot of mistakes, so if you start with smaller capital, you’re much less likely to suffer the losses that would heavily discourage you from continuing further.

The reason why crypto reached such wide acclaim and recognition around the world is precisely due to the reason that small investments have brought millions of dollars of profit to people. The ones that got in early were lucky, sure, but the point still stands.

With such a large amount of cryptocurrencies being added to the market on a yearly basis, who knows when the next Bitcoin will come up? With that, we see millions of people around the world flocking to all the new ICOs that seem to have potential. It’s because of this that a lot of crypto investments are very small in size, as there’s a lot of small investments and crypto purchases made out of FOMO (Fear of Missing Out) and hopes of getting lucky.

About the author:

Nick James is passionate about financial trading and technology. He mostly trades stocks, major FX pairs and most recently he started looking into crypto assets. Besides that, his hobbies are online poker and affiliate marketing.

Image courtesy of Bitcoin Exchange Guide

Back to the list