Cryptocurrencies are one of the most dynamic and exciting trading opportunities of our time. Find out more about the ever-evolving landscape of crypto in 2019.
As cryptocurrencies become ever more enveloped in the mainstream markets and trading landscapes, new and exciting features continue to make their way onto the scene. 2019 came with some really exciting changes to old exchanges, as well as new ICOs, bitcoin wallets and trading platforms designed to keep up with the lightning-fast changes that are always pressing on market norms.
Perhaps what makes cryptocurrencies and their accompanying programs and platforms so exciting is, the world of decentralization. Free of rules and middlemen, the cryptocurrency universe has been labelled “the new gold rush” with the propensity to make investors rich with a no-holds-barred mentality. But any clever crypto investor knows, without the right trading platforms, wallet, and coin stash, you’ll soon be left with just dust.
Without the right bitcoin wallet, users won’t be able to trade, store, or manage their assets safely on an exchange. That being said, historically, the greatest majority of all stolen bitcoin was snagged from these online “bitcoin wallets”. So while a necessary evil, 2019 brought in some serious security upgrades to bitcoin wallets to help keep investors motivated within markets.
As more exchange platforms flooded the market in 2019, there was an obvious renewed vigor for implementing better security features, usability, and some handy tools when it comes to trading. So perhaps the most spectacular thing that varied bitcoin wallets have brought forth this year is their newfound integration with trading platforms. Because of this integration, it’s now easier for investors to stay engaged with markets. This is perhaps even truer for new investors. As exchange platforms provide an excellent “hot wallet”, a place where bitcoin is stored while being actively traded. Having a hot wallet and cold storage (an offline storage facility for your bitcoin and other cryptos not actively being traded) has become perhaps one of the highest backed trends of 2019.
This new variance in wallet performance gives investors a wider range of selection, all with bells and whistles designed with them in mind. As each trading platform rushed the market, old favorites began to put in some real work improving their own faculties. For a long time, new exchange platforms struggled to gain footing within the marketplace, as most people concentrated their business on exchanges they had already become familiar with.
However, thanks to several different hack scandals, and bitcoin blunders, some of the largest names in exchanges and hot wallets got dragged through the mud, making a wide avenue available for all the new platforms of 2019.
Exchanges Fight Back
Despite none of these hacks being quite as devastating or noteworthy at the Mt. Gox hack of 2014, many of the hacks seen this year still highlight exactly why investors are becoming more interested in multiple exchange platforms, as opposed to sticking with one tried and true method. With investors using multiple exchanges, as well as multiple wallets, demand for better storage and more trading perks has skyrocketed.
To which many exchanges have answered. As many new platforms bend over backward to give crypto investors more options and better security features, they are also poised to offer competitive rates and fees. Which puts the investor at the head of the bargaining table. At least for this year.
As pressure from new exchanges mounts, old exchanges are doing what they can to stay astride these incoming threats. Which has competitors offering things like portfolio management tools, multiple currency exchanges, fiat to digital purchases, and a number of other new wave incentives. Making it even easier to purchase, exchange, and store cryptocurrencies than ever before.
What’s Coming Next
As we’ve seen, cryptocurrencies and bitcoin have undergone some momentous change over the last few years, as well as continue to make large strides in usability and security. Because of the impending boom and bust style markets, as more ICO’s fill the marketplace, investors looking for big returns and Vegas-style thrills are given more options at how to create them.
Things like margin trading are becoming more popular and far less dubious than they once were. With large sways in the markets, made by whale investors, trends require a bit more skill and finesse to be able to predict. So exchanges are now poised to offer first time and novice investors the insight they need to make good choices early on, bolstering both their confidence and their bottom line.