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The cryptocurrency trading is a versatile industry and it should be handled with care and perfect planning. The cryptocurrency is a completely new sector for some investors and it becomes really important for those investors to know the dynamics of the trading business.  There are many aspects that result in a successful and profitable trading which should be considered by the investors.

Poorly planned trading tactics have caused many investors to lose their money in the crypto market. This usually happens with the investors because of their lack of knowledge regarding the cryptocurrency and cryptocurrency market behaviour. If you manage to invest the correct amount in a fruitful cryptocurrency at the right time, you can gain a decent profit from that investment. Hence to know the correct amount, correct cryptocurrency, and a correct time you must have a perfect trading tactic. This trading tactic can be obtained from experienced investors who are making strides in the trading businesses using such tactics. These tactics are really hard to come by and so many people who come by such tactics make it available to the public using social media platforms. Hence the term ‘Social trading’ comes into play.

What is social trading?

Social trading is a simple concept where online crypto trading tactics are made available to the general public. It is just like a social network but instead of sharing selfies and cat videos, people share their ideas and observation of cryptocurrencies. Using these tactics from the trading network for business is called social trading. On this network, crypto traders share their experience with certain cryptocurrencies and Online Cryptocurrency Exchange platforms that can help other budding investors make a smart choice regarding their trading. Most people love to watch trading results of other trading professionals that can give them an insight into the versatile market of crypto trading. Investors also brainstorm and discuss market situations and observe the behaviour of cryptocurrencies in different market situations on this trading network.

Benefits of social trading

 Learn quickly about the trading market – This is probably the reason why people prefer social trading sites. People have a tendency to quickly make some profit by trading and what is a better way than to seek the help of the trading network where golden rules of trading are shared in real time. There are many professionals across the trading world that share their trading ideas and results that can be a base of reference for budding investors.

Varied outlook – When there are several investors in the network there will be more than one solution to a problem. People will discuss their problems and they will get several responses out of which the person can select the optimal solution for his/her problem.

Reliable information – As this trading network is wide and vast, it is also filled with wise and reliable sources of information from different professionals. If an idea is put forth, that idea will be brainstormed and discussed by traders from all over the world giving reliability to that information or ideas.

Community building – Community building will help the investors to sort out solutions to their problems at any time. If you have joined a community that has many professional investors you can seek their help when you are facing any trouble in investing or are looking for a fresh start and don’t know where to start.

Real-time news – The trading network will update you on the news regarding the world of cryptocurrency in real-time. This will help you understand the position of your investment in any cryptocurrency and will help you know when to withdraw or invest in any cryptocurrency.

Drawbacks of social trading

Requires time and resources – Using and learning new tactics requires time and resources to research and consider the fallout of the trading tactics. If you have a day job, learning from the trading network becomes hard.

Ideas can confuse you – The whole concept of social trading is to learn new ideas for trading and when you are hit with tons of ideas, it is natural that you are confused. But the main part to overcome this drawback is to assess the ideas from your point of view and your benefits.

Joining the wrong community – It is important to form and join a reliable community, but the trader should make sure that the community that he or she is joining has good intentions and is strictly based on sharing innovative ideas.

The Verdict

In a nutshell, social trading is a great platform for traders to learn innovative ideas that can improve their investment plans. The drawbacks are based on the choices made by the traders which can be overcome if the trader makes wise choices. Therefore, the use of social trading is safe until the trader has a will to learn and has an idea to focus on the merits of trading networks. 

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?