Crypto trading during COVID – 19 lockdown period

Posted On : 09 May 2020
Category : Blog

After Supreme Court’s order on March 4 for lifting the RBI ban on cryptocurrency trading in India, people have started showing more interest in crypto trading on the HotBTC cryptocurrency platform during the lockdown period. However, with the start of the lockdown period two more things also happened such as people are getting more time to understand and learn how cryptocurrency trading works and with signs of the economy flagging down, these profitable alternatives seemed to be worth exploring as well. Moreover, there has been a considerable increase in trading volumes on the exchange platforms which are particularly catering to the Indian traders.

HotBTC is the best cryptocurrency exchange that lets you trade and exchange cryptocurrencies for other assets like fiat money or digital currencies. The best part is, it is a technologically advanced trading platform offering immense trading opportunities backed by the blockchain technology. Moreover, the COVID-19 adversities have changed the narrative of the Supreme Court ruling, thus instigating a distinct uncertainty about the future of the fiat currency all around the world. With the spread of the COVID-19 across the globe and with the increased number of quarantines across the world there has been an unprecedented increase in volatility in the financial markets.

In other words, as suggested by the best crypto trading platform cryptocurrencies are the digital files that act as digital currencies on the basis of agreements like the ones that can be exchanged and do hold some value to money. For example, a 100 rupee note will not hold its value unless the person paying and the person receiving it agrees that the note does have some value and the value equals that of an object or service. This is where cryptocurrency different and how its value is defined and not centralized as well. However, the government has the option of printing money when there’s a shortage, which may cause inflation or hyperinflation.

With the global crisis and the financial market in turmoil, it has opened many doors for the traders to look into whether cryptocurrencies, such as Bitcoin, Ethereum, etc. are a good investment for them or not. As per the analysts and the best crypto trading platform, it has been predicted that high institutional investor demand for Bitcoin after coronavirus crisis or in this lockdown period, it has given reasons cryptocurrencies to be an attractive investment.

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