Cryptocurrencies are in the doldrums again after the highs of late 2018.
Once again we hear the non-believers trumpeting that cryptos are finished, that there's no value in them and, once again, it's time for people to wake up.
Those of us who are cryptocurrency enthusiasts just see the current low prices as a great buying opportunity! :)
Money - the notes and coins we carry around - only has value because we all believe it does. But it's just paper and metal that's not backed by anything but hot air. There was a time that money was backed by gold and silver. Not anymore.
The crypto naysayers bleat on about how there's nothing tangible about cryptocurrencies. They're just electrons on computers. They conveniently forget that most fiat (real-world) money is bits and bytes too, electronically stored in banks or electronically transferred between one party and another (credit and debit cards among other methods).
If a bank closes, there go your savings. If a government is in trouble, it may not be able to honor any commitment to reimburse savers for lost money. If a bank is in trouble, it may restrict access to ATMs and the maximum amount that can be withdrawn. This is exactly what happened in Greece.
And if governments start doing bail-ins to get funds to cover other losses - basically dipping into savers' bank accounts and stealing a portion of their savings - that's another haircut the average Joe will have to deal with.
It already happened in Cyprus, so it's not unprecedented.
All of this is to show that despite us thinking we are in control of our money, we're not. It's an illusion.
Cryptocurrencies give people back control and sovereignty of their own money. There's no central control. No overarching regulatory authority. Because anyone, anywhere in the world can use cryptos.
Huge fortunes have been made in cryptocurrencies in the last few years. In August, 2010, one Bitcoin cost $0.06. In December, 2017, it reached just shy of $20,000 per coin, an increase in value of 333,333%!
There's also been an explosion in the number of altcoins with over 1,500 now being available.
Cryptocurrency trading is not the easiest thing for newbies or those not familiar with older forms of trading like forex.
Arbitrage may be a familiar concept - buying low at one place and selling back at another place for a higher price. But how many crypto traders engage in arbitrage between the various exchanges?
New software, set to be launched on Wednesday (April 11th) aims to collate all the information that traders and investors need in order make it much, much easier to pick winning trades.
Here's some of what the software will do:
- Provide cryptocurrency charts so that you can see how they are performing over time
- Provide statistics for all cryptocurrencies
- Show arbitrage opportunities between the various exchanges
- Send you alerts on price or percentage changes so you can move quickly
- Tell you what the current and upcoming ICOs are
- Provide news from the cryptocurrency world so you can keep up to date with trends and such
I was given a pre-release copy of the software to review and my in-depth review is here:
There's a 30-minute video here that explains what cryptocurrencies are and how this new software can be used by anyone to pick winning trades:
http://cryptosolution.viewmore.at/webbizkn
The software will be available at 9AM EST, Wednesday, April 11. There are no upsells or one-time-offers. Everything is included in the software at the outset. Discounted pricing will be available during launch week only.
This could very well be a game changer for anyone who trades regularly.