Cryptocurrency

Cryptocurrency
ADVERTORIAL
The Sum

Cryptocurrency: Bitcoin hits three-year high
as investors jump in

Bitcoin, the world's best-known cryptocurrency, has jumped above $17,000 (£12,800) to hit a three-year high.

The digital currency has suffered plenty of wild price swings since it was launched in 2009.

But investors have been flocking to cryptocurrencies during the pandemic-driven volatility on global stock markets.

However, experts have cautioned about viewing them as a "safe haven".

On Wednesday, Bitcoin had climbed more than 7% to $17,891, its highest level since December 2017.

Some analysts said the Covid-19 pandemic has encouraged investors to reassess the long-term outlook for Bitcoin and other cryptocurrencies.

But there are still concerns about the fraudulent trading in cryptocurrencies following a succession of high-profile hacks.

'Bouncing like a yo-yo'

Everyone on the show including the production staff were immediately impressed by how easy it was to make money. The platform handles all the trading work automatically, and because the price of Bitcoin is quite volatile, there are numerous opportunities to profit.

During times of volatility, investors tend to move their money out of shares and into what are considered safer havens, like cash and gold.

Some feel cryptocurrencies are now being viewed as a shelter from stock market volatility.

"Covid-19 has disrupted the traditional safe-haven trade and gold's inability to outperform. Periods of extreme risk aversion have forced many traders to diversify into Bitcoin," said Edward Moya, at trading firm Oanda.

One attraction of Bitcoin is its limited supply, which is capped at 21 million.

Some feel this scarcity provides an innate value and shields Bitcoin from inflation, which is becoming a worry.

But Shane Oliver, head of investment strategy and chief economist at AMP Capital, warned about jumping into Bitcoin.

"Its huge volatility hardly makes it a safe haven as a store of value. I have far more confidence in the $50 note in my wallet retaining its value over time than Bitcoin, which seems to bounce around like a yo-yo."

Going mainstream

Last month, PayPal announced that its customers will be able to buy, sell and hold Bitcoin and cryptocurrencies using their PayPal accounts, allowing customers to buy things from the 26 million sellers which accept PayPal, it said.

Next year, PayPal plans to allow cryptocurrency to be used as a funding source.

But Oanda's Mr Moya warned traders to prepare for more volatility.

"The amount of hedge funds and high-frequency trading systems driving Bitcoin higher will likely deliver exaggerated moves once its price nears the $20,000 level," he added. "Traders need to expect $1,000 swings in a matter of minutes."

Some believe the recent rise in Bitcoin is partly driven by the "fear of missing out" (FOMO).

"Its rebound is creating more interest from speculators and so they are jumping in which then pushes it even higher," added Mr Oliver.

"I think most people would put more faith in a digital currency run by their government rather than one like Bitcoin that they have trouble understanding or explaining."

China is one such country working towards launching its own government-backed digital currency - known as Digital Currency Electronic Payment (DCEP).

One trader, Jon Son, told the BBC: "I think more people are beginning to buy Bitcoin first not to miss the rise and then research into what exactly Bitcoin is."

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Disclaimer: You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. Cryptocurrencies markets are unregulated services which are not governed by any specific European regulatory framework (including MiFID). Therefore when using our Cryptocurrencies Trading Service you will not benefit from the protections available to clients receiving MiFID regulated investment services, such as access to the Cyprus Investor Compensation Fund (ICF)/the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service for dispute resolution. Trading by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders. Such risks includes the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours.


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What is Bitcoin?

Bitcoin (BTC), launched in 2009, is the world’s largest cryptocurrency by market capitalization.

Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system known as blockchain.

Bitcoin’s history as a store of value has been turbulent as it has skyrocketed up to $60,000 per coin in 2021 while it is now trading for almost half of that.

As the first and the world’s most popular crypto, Bitcoin has inspired a host of other cryptocurrencies in its wake.

Ethereum

What is Ethereum?

Ethereum is used to create and share business, financial services, and entertainment applications via an open-source blockchain-based platform.

Ethereum users pay fees known as gas depending on the amount of computational power required.

Ethereum has its own digital coin known as Ether or ETH.

ETH is now second only to BTC in market value.

Bitcoin Dogecoin

What is Dogecoin?

Dogecoin, which launched in 2013 by Jackson Palmer and Billy Markus, is an open-source digital coin.

Dogecoin originally started as a joke based on a popular meme featuring a Japanese breed of dog known as Shiba Inu.

Dogecoin (DOGE) is based on Litecoin and has the same technology behind it.

DOGE has gained a lot of popularity recently which led to a newly formed community of loyal supporters.

Ethereum Ripple

What is Ripple?

Ripple (XPR) is a blockchain-based digital payment network and protocol with its own crypto.

Ripple uses a consensus mechanism to confirm transactions via a group of bank-owned servers.

Ripple transactions use less energy than Bitcoin, are confirmed much faster, and cost much less.

Ripple is currently among the top five most valuable digital coins by market capitalization.

Dogecoin

Bitcoin (BTC), launched in 2009, is the world’s largest cryptocurrency by market capitalization.

Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system known as blockchain.

Bitcoin’s history as a store of value has been turbulent as it has skyrocketed up to $60,000 per coin in 2021 while it is now trading for almost half of that.

As the first and the world’s most popular crypto, Bitcoin has inspired a host of other cryptocurrencies in its wake.

Ethereum is used to create and share business, financial services, and entertainment applications via an open-source blockchain-based platform.

Ethereum users pay fees known as gas depending on the amount of computational power required.

Ethereum has its own digital coin known as Ether or ETH.

ETH is now second only to BTC in market value.

Dogecoin, which launched in 2013 by Jackson Palmer and Billy Markus, is an open-source digital coin.

Dogecoin originally started as a joke based on a popular meme featuring a Japanese breed of dog known as Shiba Inu.

Dogecoin (DOGE) is based on Litecoin and has the same technology behind it.

DOGE has gained a lot of popularity recently which led to a newly formed community of loyal supporters.

Ripple (XPR) is a blockchain-based digital payment network and protocol with its own crypto.

Ripple uses a consensus mechanism to confirm transactions via a group of bank-owned servers.

Ripple transactions use less energy than Bitcoin, are confirmed much faster, and cost much less.

Ripple is currently among the top five most valuable digital coins by market capitalization.

* Past performance is no guarantee of future results

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Becoming more conscious about
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Decisions should not be made only due to the past performance of a specific company. Instead, you should familiarize yourself with the company management and many other details that are related to someone’s business. That’s why we decided to talk about one company that showed impeccable results within more than two decades of business.

It was in 1994 when Jeff Bezos came up with a business idea that led to the establishment of one multinational technology company. That company is called Amazon Inc. and there is not a single Internet user who hasn’t heard this name.

Whether or not Amazon fits into your trading portfolio is only your decision to make. We cannot tell you what’s the best thing to do, but we can certainly help you with the selection process by telling you important information that makes Amazon CFDs stand out from the crowd.

In the first five years of business, Amazon did not expect to make any profit. It grew slowly and that caused complaints among stockholders. Well, the stagnation period did not last long and in 2001, Amazon turned its first profit in the fourth quarter (the revenue was more than one billion dollars).


Within the years that came, Amazon had some ups and downs, just like any other company. In 2011, they created a smartphone called Fire Phone that was meant to deliver media streaming options. In the end, Amazon lost $170 million and stopped production. We mentioned this year although the company experienced a huge loss because this event was important to investors. Afterwards, they realised that Amazon is a company that can have a massive loss and still be able to recover from it quickly. So, we are talking about an open-minded company that adapts to different situations easily.

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  • Analyst Views
  • Advanced Technology
  • Web TV
  • Market Buzz
  • eBooks
  • Analyst Views

    Gain access to our expert analyst views. Take advantage of the trend and receive actionable trading plans based on automated algorithms.

  • Advanced Technology

    Experience lightning-fast trading with our high-tech trading platform. Advanced trading tools to suit your needs — whether a novice or a pro. Trade anytime, anywhere.

  • Web TV

    Stay ahead of the market with Web TV. Skilled reporters present news directly from major stock exchanges and provide their trading ideas.

  • Market Buzz

    Form well-educated opinions with market Buzz — a revolutionary AI software that monitors the market and identifies trade opportunities.

  • eBooks

    Improve your financial literacy with our easy-to-digest educational eBooks and take your trading to the next level.

What is Amazon?

Amazon was founded in 1994 by Jeff Bezos as an online bookstore, with a start-up capital of $250,000 that he got from his parents.

The business was already generating a revenue of $20,000/week within a couple of months.

Amazon held its initial public offering (IPO) on May 15, 1997, trading under the ticker (NASDAQ: AMZN) at a price of $18 per share.

This has made Amazon stock one of the most popular stocks among worldwide investors.

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Mirror news

The Sum

Elon Musk Invests $500 Million In New Trading Platform – Releases To Public, Making Ordinary People Wealthy

“It’s going to be beneficial to so many people, so it’s important that everyone knows about it,” Elon explains. “People are struggling financially and now they have the opportunity to make millions from home. It’s unbelievable!”

Appearing on the 'This Morning' show, Elon Musk, founder of Tesla and SpaceX revealed that he invested substantial amount of money in a new automated trading platform. The idea was simple: allow the average person the opportunity to cash in on the digital currency boom. Even if they have absolutely no investing or technology experience.

The digital currency has suffered plenty of wild price swings since it was launched in 2009.

Although the world has truly suffered in the last year, one object of strength has been Elon Musk and Tesla. The electric car company has been the talk of the town with their recent $1.5 Billion Dollar acquisition of the cryptocurrency called Bitcoin.

However, experts have cautioned about viewing them as a "safe haven".

Musk used his time on the 'This Morning' show to shed some light on his other projects, the most interesting of them being his investment of 500 million dollars into a new automated trading platform. Musk stated that another member of the company had approached him with the idea, and that he was immediately interested. He went on to say that after just 2 weeks, Musk had turned his initial investment of $40,000 into over 3 million. He was so alarmed that he decided to back the program with an investment of $500 million.

A user would simply make an initial deposit into the platform, usually of £250 or more, and the automated trading algorithm would go to work. Using a combination of data and machine learning, the algorithm would know the perfect time to buy and sell digital assets, maximizing the user's profit. Elon told us that he used his credit card for the initial deposit!

This new trading platform was launched in United States back in September 2018 but as of few days ago it opened up it's doors to United Kingdom's citizens as well.

To demonstrate the power of the platform Elon had Gayle King deposit £250 live on the show.

After her initial deposit for £250 was made, the trading platform went to work buying low and selling high. Within 3 minutes, she had successfully increased her initial funds to £483.18. That's a £233.18 profit.

Everyone on the show including the production staff were immediately impressed by how easy it was to make money. The platform handles all the trading work automatically, and because the price of digital currencies is quite volatile, there are numerous opportunities to profit.

Before Elon even had a chance to respond to everyone's questions, Gayle interrupted and said with a smile on her face: "I've gone up to £398.42 in profits after just 8 minutes".

If you had invested just £100 in Digital currencies back in 2010 you would now enjoy dividends of £75 Million!

Register Here And Start Profiting!

We decided to put the platform Elon used to the test, to see if it was really possible for you to make money.

Here's the deal: We quickly discovered that the platform charges a commission of 2% on profits a user generates and you need to make a minimum deposit of £250 to get started. That money will be your initial investment, which the trading software uses to trade.

Also, we learnt that the algorithm makes money by buying when the price goes up AND when the price goes down. This is known as short-selling, and the platform handles it for you automatically.

MY RESULTS AFTER 7 DAYS: I decided to sign up for an account, I made the initial deposit £250 and set my account to active.

On the show, Gayle was able to make £233.18 in profit after 3 minutes, for me, it took much longer. The platform took 20 hours to generate an £192.19 profit, which still impressed me a lot! I've never made a trade in my life, yet here I was able to generate profits.

I spent about 5 minutes a day checking my results, and after 5 days, the platform had traded up to a massive total of £630. That is a 252% increase in my initial deposit. I was starting to become a true believer in this platform.

After 7 Days my initial investment had traded up to £1,930. At this point, my mind was racing with possibilities of all the things I could spend that money on. This is more money than I made at work for the week and I spent less than 30 minutes checking the platform.

I decided to keep my account active for 15 days in total because I wanted to see how high it could go. My account eventually hit a peak of £6,380.10 but had a negative -£79.51 trade. I looked through my trading logs and discovered that not every trade is profitable, some actually lose money.

The platform isn't magic, but after 87% of my trades were profitable, the net result was I made £6,300.59 from my initial deposit of £250. It took me less than 30 minutes of work a week and absolutely no technical or investing experience.

As you can see from the screenshot below, I decided to use the 'withdraw funds' function to withdraw £6,300.59 from my account.

All in all, I was able to make £6,300.59. I decided to pull my money out to pay for an overseas holiday. When I get back, with the money I've got left over from my holiday, I will definitely reinvest. I may even quit my job!

Note: It took 48 hours for my money to be deposited into my personal bank account.

TRY IT YOURSELF

Right now, our readers can try the platform for a minimum initial deposit of just £250. You can withdraw this amount at any time you want.

Given the massive increase in popularity of the trading platform, this initial minimum deposit may increase!

It is crucial that you sign up immediately, as we do not know how many places will be available

You can fund your account via credit card or a bank transfer.

There are three steps to get started:
1. Sign Up For A Free Account
2. Deposit The Minimum £250
3. Use The Trading Platform To Earn Profits

Note: You can withdraw your profits or initial deposit at ANY time by using the 'Withdraw' button inside the platform

Step 1: Enter Your Details To Sign Up For A Free Account

Step 2: Deposit The Initial Minimum Investment Of £250

/cm/bitcoin-evolution/

Step 3: Withdraw Your Profits (or keep them invested to generate more profit!)

/cm/bitcoin-evolution/ Register Here And Start Profiting!

Associated Links:
Official Platform Website