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What is Happening to the Crypto Market?

  • Aug 29, 2022, 1:14 pm2.1k pts

    Cryptocurrency investment is a popular type of activity since the increased volatility of digital assets allows for making income from even small price fluctuations. That may be everyday portions of profit from daily price changes or long-term investments and huge gains.

    In spring-summer 2022, we witnessed the crypto market drop. Bitcoin was the first asset to collapse, pushing other assets down. Here are some reasons why it happened. First of all, there was negative news background. Then the popular crypto exchange Binance temporarily blocked withdrawals in BTC. And another reason was the FED's decision to increase interest rates.

    When the market dropped, many investors started to sell their assets, which reduced demand; thus, the market collapsed. However, it is typical for the crypto market to live through cycles (bear and bull trends), and every time it drops, the next wave starts, and prices recover.

    How to Pick a Platform for cryptocurrency trading?

    Despite the market collapse, many people want to join cryptocurrency trading. There are promising assets to invest in:

    • Solana (SOL)
    • Cardano (ADA)
    • Ripple (XRP)
    • Polkadot (DOT).

    Buying crypto, you should make sure you use a credible service. That must be a safe place where you will rest assured about the security of your investments.

    Here are some tips on how to identify a reliable exchange:

    • Is there a sufficient number of assets supported by a platform?
    • What does the fee policy look like?
    • Are there charts and educational information for beginners?
    • What is a platform's reputation?
    • Is the service secure?
    • How many trading tools does it offer?
    • Is the interface convenient?
    • Is there KYC?

    We recommend picking among cryptocurrency exchanges: Binance, Coinbase, KuCoin, OKEx, and WhiteBIT. These platforms comply with all the regulator's requirements and provide maximum safety for their clients. All users have to register and pass the KYC verification to access the complete list of tools and unlimited crypto withdrawals. Exchanges provide a transparent fee policy, numerous earning opportunities, and efficient customer support.