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September 28, 2021
BUSINESS BUSINESS COMPANIES ECONOMY FINANCE&BANKING

Digital Euro in the works by the European Central Bank

On July 14, the European Central Bank, ECB, announced a virgin project to initiate and build a digital version of the euro. This project is set to create a European-based cryptocurrency built on like principles to the existing options. For the next few years, the group plans to develop a user-friendly and technologically advanced e-currency that will be used throughout the euro area.

With a major interest in user privacy, security, and transparency, ECB is keen on adding value to its people’s present currency transactions. With much of the world looking to take up the early opportunity into cryptocurrency, and its rise as an asset, the ECB is in the race to invest while the field is still new.

 

The result of this for the crypto world and investors

 

Typically, the value of crypto depends on demand and supply. Suppose more and more countries in Europe and beyond are looking forward to bringing the most compelling advantages of crypto to the world of traditional finance by implementing cryptocurrency payments and exploring the opportunities to create CDBCs. In that case, the face of crypto will likely move from sporadic individual investment to a large-scale financial asset across the globe.

This is an early call for retail investors to join the bandwagon, while the demand is still within their reach. In two to three years, when countries fully invest in digital currency founded on blockchain technology, the value of digital assets like Bitcoin, Ethereum, Cardano, and others may increase dramatically. And for investors already in the game, this is a profit worth looking forward to.

 

Getting into crypto

 

For new investors interested in getting onboard of this moving train, making their first investments in crypto is still easy. As an investor looking for long-term growth, simply buying a currency seems to be enough. The value will increase as the demand for more crypto-based technology and currencies flood the globe. However, for those looking to make cryptocurrencies a source of a steady short-term income, benefiting from minor swings is one of the best options.

There is a lot to learn about cryptocurrency trading as a beginner, and it is best to take the time and interest to learn, before engaging in trading. Many sites offer tutorials, and there are several videos and books to guide users.

On the other hand, there are plenty of instruments that allow users to delve more into cryptocurrency trading, without the necessity of monitoring the price fluctuation like an active day trader. This is where automated trading instruments come into play.

 

Using trading bots

 

Trading bots are automated systems built with the sole aim of taking the routine tasks of monitoring, analyzing, calculating, buying, and selling cryptocurrencies from the traders. With tools to analyze the market and execute hundreds of trades per minute, traders can take advantage of every single price swing of crypto assets, without constantly paying attention to the charts.

As an automated AI technology, trading bots harvest a pool of data from fluctuation history, analyze it to determine the structure, monitor the market flow, calculate the risk, and reward ratio, and finally deliver a suitable result for the trader.

The bots are built to be user-friendly and customizable. Traders can preset their bots to buy or sell crypto when the price reaches a certain value. They can also tune it to keep an eye on a particular currency. A trusted trading bot can become an effective instrument for traders of all levels to increase their earnings with maximum comfort.

 

Top trading bots

 

There are several crypto trading bots in the market, each with its unique feature and service. Many of them, however, can operate within a limited number of exchanges. Selecting the best from this pool should depend on what an investor needs, whether it is spot or futures trading, scalping or arbitrage.

Among dozens of crypto trading bots existing on the market Bitsgap works with more than 25 most popular crypto exchanges like Binance, Bitfinex, Kraken, and Huobi. It analyzes over 10,000 crypto pairs, offers state-of-the-art algorithms for 24/7 trading, and offers a wider range of risk management tools that previously were accessible only to professional investors. For Bitsgap, traders enjoy security, 24/7 support, backtesting, and portfolio management.

With the world quickly accepting cryptocurrency not just as a personal exchange method but as a legal operating tender, it is a profitable idea to invest in the technology at this point when it is at its early stage.  The Euro e-Currency is one of the many projects building up and increasing the value and legality of cryptocurrencies. It is a clear sign for all that in no distant time, cryptocurrencies would become the order of the day utilized for everything and anything.

 

Photo credit: www.pixabay.com

 

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