Russian and US Tensions Helping Bitcoin Surge in Value
Many people have been scratching their heads over the last couple of days as to why Bitcoin and all the other leading cryptocurrencies have been increasing in value. Well it is safe to say it is the tension between Russia and the USA which is having a direct effect on the value of all cryptocurrencies.
In such times, people will be looking for a very safe-haven for their money and will not want large amounts of cash hanging around in bank accounts, since there could be sanctions imposed on money held by Russian citizens in both US and European bank accounts.
As everyone is on tenterhooks at the minute and are worried about the direction those two superpowers will take their disagreements, I would expect the value of Bitcoin and Ethereum and most other cryptocurrencies to show some marked increase in their values in the coming days if not weeks.
Therefore, if you have bene considering buying into or buying more cryptocurrencies then the sooner you do so the less chance you will have of being forced to pay the increase prices they will surely rise to this coming week, so keep that in mind if you are about to buy into any cryptocurrency.
Always Have Access to Your Cryptocurrency Holdings
There is one thing you should make a point of doing to ensure that no matter what happen you have direct access to all digital assets you have, and that is to ensure you have a digital wallet that isn’t linked up to any digital currency exchange.
If you do have such a wallet then there could be the chance that you could lose your funds if anything was to happen to that exchange, and as such you will be best advised to have a digital wallet that gives you and you alone access to your cryptocurrencies stored on the blockchain.
There are some digital wallets that allow you to do just that but in addition you will find that they allow you to store more than one cryptocurrency in those wallets.
Those would be the ideal digital wallets to make use of as you are not going to have to store and remember all the log in details for multiple different wallets which is something you will have to do if you have lots of them in use at any one time.
Also, try not and but into just one cryptocurrency either, if you do want to hold large amounts in digital assets try and spread your funds around and buy into several different cryptocurrencies, as that way if one of them does nose dive in value there is a chance the others wont and you will be minimizing the risks.
Trade Instead of Buying Bitcoin
If you have something of a gambling streak in you, and wish to cut out all of the messing about regarding buying cryptocurrencies, storing them and then holding onto them until their price hopefully rises and then trying to sell them on for a profit, there is another way you could profit not only from the rise in the value of Bitcoin and other cryptocurrencies but also the drop in value any of them will experience too.
That will be by you opening an account at a Forex Brokers site, for when you do so you can place bets or trades as they like to call them on any two fiat or cryptocurrencies you wish to pair up together in a trade.
What you must do is to select a fait or cryptocurrency that you think will rise or fall regarding its value when compared to any other fiat or cryptocurrency and by pairing up any two of them the Forex Broker will then offer you a set of odds.
You can place any stake on those bets or trades and by selecting a time period for that trade to be live, if at the end of the time you select the value of your chosen cryptocurrency or fiat currency does rise or fall as you predicted against the other one the Forex Broker will then pay you out at the odds you took and the stake you selected.
However, if the currencies do not move in the way your predicted then you will lose the stake you placed on them.