Cryptocurrency Market Review 

Agenda

Cryptocurrencies hit the market not a long time ago, but today they are used in various industries from gambling to trading. Now, it is even possible to use various Forex strategies that work withdifferent coinsas well as Forex trend indicators on conditionthat you trade them on the currency market.Cryptocurrency marketchanges all the timeand it is a good option for earning money that you do not want to miss. There is a range of ways to trade cryptos, and some brokers allow using their platform for cryptocurrency/currency trading; Maxitrade is one of them.You can find lots of helpful information on Maxitrade official site as well asgreat webinars that you should watch in order to become a successful trader.

So, let’s go step by step through every aspect related to the cryptocurrency market. We will also have a look at a range of other important topics, such as the use of Forex trading indicators, getting free Forex trading signals, finding reliable Forex signals providers, and more. You might think of how Forex is related to the crypto market? Read this article, and you will find it out.

What Are Cryptocurrencies?

Cryptocurrencies are digital money. Although you can touch them with your hand, they exist and they are quite popular. Strong cryptography (extremely difficult for cryptanalysis) is used for creating different coins and secure transactions. Such currencies are based on the blockchain technology that stores the records of all transactions that can be canceled, erased, or edited once they are in the system. Since there is no centralized control over cryptos and it is a P2P network, the use of the system does not involve fees or charges. You just send your coins directly to the receiver without using any intermediate services. This is one of the things that make cryptocurrencies attractive for trading because if you use honest Forex signals and effective Forex day trading strategies to make a profit, you can withdraw your money for free. 

Initially, people took cryptocurrencies differently — some considered it something unclear and temporary, while the others believed they are the instrument for laundering the money. However, those who saw the potential of a new trend and bought Bitcoins became very rich people.

By the way, Bitcoin is the very first coin that the world saw and though today there are lots of different tokens that you can find on the market, it is still the best choice for lots of things, such as trading, investments, and more. In fact, it is often used along with the best Forex strategies because you can trade it against fiat currency, such as dollars. It is worth noting that Forex scalping strategies are not the best choice when it comes to trading cryptos because of a relatively high spread. However, you can still use various Forex daily trading strategies to get instant profit.  

So, how many cryptos are out where? There are plenty of them, but not all of them are easy to buy, sell, or exchange. The following are those cryptos that you can find virtually on any crypto exchange:

  • Bitcoin. It was first released when Nakamoto, a coin developer who still remains unknown, mined the genesis block (the first block);
  • Ethereum tokens are created by the Ethereum platform. They can be used for a variety of purposes, including transactions;
  • Litecoin is nearly the same thing as Bitcoin in terms of technical details. It has been around since 2011 and it was designed, as an altcoin, which means an alternative cryptocurrency.

Is It Safe to Use Cryptocurrencies?

Today, the use of cryptocurrencies is legal and they are accepted all over the world. You can use them to pay for your purchases, for trading, investment, and more. So, if you still believe that cryptocurrency is a scam, it is time to change your opinion. 

For instance, since Forex trading has become available for people, many of them started to believe that it is fraud, but why Forex is a scam for them? Because there are all those Forex trading signals that people caught but did not make a profit and they blamed Forex signals services. Lots of people started using Forex trading strategies for beginners for trading real money without gaining the necessary experience first. People used plenty of the best Forex indicators, but they were not able to read them properly. The same thing is with cryptos — you should understand the market, what impacts on the price, what news to follow, etc. to be a good trader or investor. Many people tend to blame brokers when they lose their money, and you can find a few Maxitrade customer reviews stating that Maxitrade cheat or Maxitrade lie or something like that, but we know that it is one of the most reliable offshore cryptocurrency brokers that can be found today. So, get the necessary knowledge on cryptos to choose the right strategies, signals, and indicators for the accurate price changes forecast.

What Should You Know About Blockchain?

You want to know what it is and how it works because this will help you to choose the right Forex day trading strategies and you will not pick wrong free Forex signals.

When you think of the blockchain, try to imagine a wall that consists of many bricks. It keeps constantly growing with every new brick added and you cannot just take a brick out of the wall because it is surrounded by other brick and sticks to them tightly. A brick in the blockchain is called a block and all blocks are linked with each other thanks to cryptography. Each block comes with a hash of the previous element as well as transaction details. That is why you cannot just change a block or delete it. Once it is in the system, it is there forever. 

How Cryptocurrencies Are Created?

Cryptocurrencies are created in an interesting way — mining. In essence, cryptomining is verifying and adding transactions to the ledger. In order to mine, you need to have a computer as well as a special program that you can use to solve complicated mathematical tasks. Once a transaction is made, a miner has to ensure its authenticity and update the ledge. The mining is a very competitive process because miners have to create transactions before others. The process requires lots of resources, which can often be too expensive for a single miner, so several of them create groups for collective mining. The profit from mining is then distributed between all the members of a certain group.

What Is The Future of Cryptocurrencies?

There are lots of people who still double that cryptocurrencies will stay with us for a long time. If you are not sure about the potential of cryptocurrencies, you should read the following ideas.

Best Choice for Transactions

If you have ever traded on Forex, you know how binary options Forex signals work — they let you know when to hit the market, but they are not always right. There are plenty of things that can impact on a currency price from elections to disasters. In many cases, people use credit cards for payments, which makes it possible to cancel a transaction and get the money back. Although this does not affect traditional currencies directly and globally, it is a major problem for vendors because due to chargebacks, their merchant accounts can be terminated. As for the alternative payment solutions, they do exist, but all of them are associated with paying extra fees, which can be unbearable for merchants. Moreover, people have to wait for days or even weeks to get their money. Therefore, more and more sellers tend to switch to accepting payments for their goods and services in cryptocurrencies. This is one of the factors that contribute to the cryptos’  popularly and their bright future.

In fact, the absence of a transaction free is a great advantage not only for sellers, but for everyone who transfers money, and it is lots of people! So, the chances are the demand for cryptocurrencies will keep growing.  

Fighting Inflation

Inflation is a major problem for many countries, especially those that are considered to be developing. Of course, there are lots of reasons why the value of a unit of currencies changes and if you remember it from your Forex lessons, history repeats. That is why people who have traded on Forex for some time can effectively use Forex trading strategies, Forex signals or different Forex indicators to catch the right moments. One of the reasons for inflation is printing too much money, and if a Forex trader knows about such a situation, he or she will likely sell the currency because its value will decrease. The thing is that the number of coins is limited by the laws of mathematics and available computing power. So, it is not that simple to mine lots of cryptos even if you want to, which makes cryptocurrencies relative resistance to inflation. 

In fact, cryptocurrencies have been tried to be used for fighting inflation in Venezuela. Unfortunately, the experiment has failed, but that was the fault of the country’s management rather than the system. 

High Security

Are not you tired of being afraid of sending your money over the Internet? For instance, before you choose a broker to trade on a stock exchange or another exchange, you have to go through multiple policies and check what technologies are used for your protection. You do not want to pay for accurate Forex signals, experiment with Forex swing trading strategies or other trading tools to get profit and then be hacked by cyberthieves. While some encryption technologies are really good, some hackers are very clever and not all brokers use the most innovative security methods. 

You have nothing to worry about if you use cryptocurrencies for payments because you will never have to provide your sensitive information, such as credit card details. This is another reason why cryptocurrencies will gradually push out traditional currencies from the market. Of course, it will take years to apply these changes, but they will likely happen. 

There are many other reasons to immerse into the crypto world because this is what our future looks like. 

How and Where Can You Buy Cryptocurrencies?

So, you want to purchases a cryptocurrency, but how can you do this? First of all, you need to create your wallet that you will use for storing your coins, receiving or sending them to/from other people. We will go through the most important notions that you should understand.

A Cryptocurrency Wallet

It is a virtual wallet that you create for conducting different actions with cryptocurrencies. It gives you full control over your digital assets and it is essential to become a participant of a crypto world. You can use the same wallet for storing different cryptos, which is very convenient. They are secured unless you lose your digital key. It is strongly recommended to keep this piece of information in a safe place because it is the only way to get access to your wallet. However, you should be careful as if you hide it too well and forget where the place is, you will not be able to restore access to your cryptocurrencies. 

It is possible to use various ways to create your wallet, such as on certain web browsers, through downloadable apps, and more. Once you search on the Internet, you will see the list of services to register your wallet. 

How Can You Buy Cryptocurrencies?

There are plenty of different exchanges where you can purchase some coins, but before making a transaction, you should make sure that it is not a scam. It is easy to find the list of the most reliable platform to complete the exchange. You can pay for your purchase in various ways, such as using your credit card or PayPal account. Once you have some coins in your wallet, you can exchange them back to a fiat currency or another cryptocurrency. Everything works pretty simply. The buy and sell operations, as it is typical for Forex, are carried out at different prices and the differences goes to the exchange’s pocket. This is the same as you check live Forex quotes where you will find bid/ask prices. In essence, trading cryptocurrency is similar to trading fiat currencies, but there are few special features to each of these markets. 

How Does Cryptos Market Differ from Forex?

We are getting closer to the main topic — the cryptocurrency market. In order to give you better examples of its specifics, we will compare certain aspects of it with Forex, including the following:

  • Accessibility;
  • Demand;
  • Trade Execution;
  • Leverage;
  • Commissions;
  • Inflation;
  • Volatility.

Accessibility

Both markets come with a range of platforms, and each of which has own advantages. While it is possible to find a scam, it is not difficult to choose something from many reliable options. Both forex and cryptocurrency platforms are easily accessible. However, the Forex market is not open around the clock and there are different sessions, while the cryptos market is constantly in motion, which gives traders an opportunity to hit the market whenever they want.

Demand

Forex is a highly popular and established market and it is so far the best in terms of liquidity and stability. While currencies are regulated by governments, cryptocurrencies are very different in terms of regulation. Their demand depends on public adoption, needs of industries, and similar factors. However, the demand for cryptos keeps growing steadily, and today, these markets are often combined. For instance, Maxitrade site can be used for trading cryptocurrency/fiat currency pairs. This means that you can use usual for Forex trade tools and techniques. For instance, you can find a reliable Forex signals service to get live Forex signals. Also, it is recommended to learn how to understand free Forex indicators as well as how to read Forex quotes.

Trade Execution

When you see the right price and the right trend, you want to hit the market immediately not to lose any profits. Both Forex and crypto trades are executed almost instantly, which minimizes any price changes. At the same time, delays may occur due to poor software, bad internet connection or other technical issues. That is why it is important to use reliable platforms like those that are available on the Maxi Trade site. For instance, you can use Meta Trader that comes with fantastic Forex indicators MT4, the best free Forex signals, and other great tools. Also, this company often organized different helpful webinars, and you can learn different Forex strategies, how to use Forex volume indicators or other indicators, how to understand real time Forex quotes, and more. “Maxi Trade fraud” is not something that you should be afraid of because it has recommended itself as a reputable and generous broker. Not only will you enjoy attractive conditions and high leverages, but you can also get a 100% match welcome bonus. 

Leverage

When it comes to leverage on trades, Forex wins. Forex traders can trade amounts 50-500 times more than their initial investment, which helps them to increase their profits significantly. When it comes to cryptocurrencies, brokers are not that generous. However, Maxi Trade allows its customers to get 1:50 leverage, which is still enough for effective trading.

Commissions

When you trade on Forex, you will pay the spread, which is the amount of money between the bid and ask prices. The spread is determined differently and can vary depending on a broker. Some other fees may also occur. Moreover, you will usually need to pay depositing/withdrawal feels as well as depending on a payment system you choose for transactions. 

As for cryptocurrency exchanges, they get profit from each transaction, and rates vary significantly between platforms. Some of those fees go to miners. Some brokers like Maxi Trade give you a chance to combine the advantages of both markets. You can trade on a great platform using the most popular tools, such as Forex trade signals. Also, you can use various Forex MT4 indicators to catch the best moments to hit the market or close your trade. If you have never traded on Forex, you should get Forex trading strategies for beginners PDF to learn the basics or just register on Mai Trade webinars.

Inflation

We have gone through this aspect already, but it would not hurt to refresh your knowledge. Fiat currencies are issued by governments and they are regulated, while cryptocurrencies are independent. Well, they depend on us, users. However, it is not that simple to increase the number of coins because it takes some time and lots of computer power. Generally, cryptocurrencies are considered to be an effective way to fight inflation, and as a trader, you should know this aspect. 

Volatility

Average volatility in the Forex market is something like 0.5-1 %, while cryptocurrency can have the volatility of 15 % or even more. Is it bad? No, it is really not if you use reliable Forex scalping indicators or other indicators, high-quality free live Forex signals, and Forex trading strategies that work. Although there is a chance of getting a quick profit, there is also the risk of losing some money. Therefore, traders should know how to protect themselves, for instance, by using various Forex hedging strategies.

Factors Affecting the Cryptos Market

If you wish to trade cryptocurrency, you should know what factors affect the market. Yes, you can simply use the best indicators for Forex, catch daily Forex signals, or monitors quotes Forex markets, but these will just not be enough if you do not know what the cryptos market depends on. 

So, the following factors that you should pay your attention to if you trade cryptocurrencies:

  • News;
  • The mood of the financial giants;
  • The link between coins;
  • Technological progress;
  • Politics;
  • Research and opinions of specialists;
  • Adoption in society;
  • Competition;
  • Security issues;
  • Organized attack on the markets.

News

Some traders would not bother with following the news because they prefer checking out Forex trading quotes or rely on certain profit Forex signals. It is also very easy to find the best Forex indicators free download for technical analysis, but if you really want to keep your hands on the pulse, you must follow the news. For instance, if you use free Forex signals live, you should check what they are based on because you should not think that it is enough to buy Forex signals or get Forex free signals to complete profitable trades. You can go through Forex forecast, but everything can change in seconds if certain news pops up. In fact, the cryptos market is highly volatile and news can affect it significantly.

The Mood of the Financial Giants

The decisions, ideas, and opinions of the leaders of the market are important because they are followed by lots of people, which actions can change the situation on the market. Such companies influence the mood of the people, making them either buy or sell cryptos. Big companies can also change the trend by different actions, such as buying lots of certain cryptos. So, you should indicate what large companies play a significant role in the cryptocurrency market and follow them. On the Maxi Trade site, you will be able to find the necessary information. 

There are plenty of coins that you can find in the market today, and they are often unrelated to each other, but there is a link between them that you can see from quotes. For instance, if the price for Bitcoin goes up, the other coins will do the same. You can see it yourself if you have a look at the daily charts and compare the movement of different altcoins. Go to Maxi Trade site to find high-quality charts and other information.

Technological Progress

Lots of industries have found it much easy to develop because of cryptocurrencies because they can find investors by issuing own coins, speed up transactions for customers and partners, and more. It is no wonder that lots of new startups related to technical development try to use the blockchain technology. So, if there is a significant technical breakthrough is planned, the chances are that it will impact on the cryptos market.

Politics

Although it is fiat currencies that are depended on governments, some changes in politics can also affect the cryptocurrency sector. For instance, after South Korea announced the closure of cryptocurrency exchanges, the market collapsed. Basically, implementing restrictions for the use of cryptos is still something that governments can do.

Research and Opinions of Specialists

Economics in different countries ground on traditional currencies and since cryptos change this, specialists start to worry. Either they are afraid of these changes or do not want them to happen for other reasons; however, you will often find different search, articles, and other materials stating that cryptos are unstable and may cause lots of problems, which affects the market.

Adoption in Society

Vendors love using cryptocurrencies, but it still takes times and effort to convince customers to use them for purchases. Luckily, in some market, it is possible to use only certain coins for payments. For instance, there are gaming platforms that come with plenty of exciting games and you can only buy stuff for them or enter tournaments using certain cryptocurrency. So, the more people start using the coins, and the more successful projects are launched where you can pay using certain coins, the higher the demand for them will be.

Competition

The cryptos market keeps developing offering new altcoins that can be used for different purposes and the appearance of new, more effective solutions makes the old instruments to lose their value. So far, Bitcoin is still one of the best choices for investment, trading, and payments, but the developers do not stop there. 

Security Issues

We all have heard that the cryptos market is secure, but is it really so? Some people believe that it is enough to make an error in the code to lose funds stored in wallets. It is also believed that one negative event will cause a chain of other undesired situations, which can significantly affect the whole market. However, the figures state that in order to cause a fatal default, there must be a holder of a lion share of the cryptos market, which is virtually impossible. There have already been a few difficulties that the market has gone through successfully.

Organized Attack on the Markets

Probably, if someone very rich or important person decided to destroy the market, he would use several negative factors and they all together would lead to a fatal result. This can be done through false news, panic, crashes, and other similar things. Although theoretically, it is possible, the Forex market is more dependable on that than the cryptos market.

How Can You Trade Cryptocurrency?

You can simply buy some cryptocurrencies and store them in your wallet as an investment, but you can also immerse into the exciting trading world to make a profit thanks to the changes in coin value.

There are three main ways that you can use to trade cryptocurrencies:

  • By buying the actual asset from an exchange/broker;
  • By trading a CFD/derivative;
  • By buying a publicly listed security that is related to a cryptocurrency.

After buying the asset, you become the direct holder of it and the cryptos will be stored in your account that you have with an exchange or a broker. Maxi Trade is one of the brokers that you can choose for this purpose. You can send your assets to another wallet. The following are the main reasons to choose such a way: 

  • You get full control under your digital assets;
  • You can do different actions with them;
  • Your cryptos are secured with a private key;
  • You can have different cryptos in one wallet;

The following are the reasons to trade cryptocurrencies as a CFD: 

  • You can take advantage of greater leverage;
  • You can enjoy lower transaction fees offered by some brokers. Remember that Maxi Trade has very good conditions, including low fees and good leverage. 

Reasons to buy cryptocurrency-related security are as follows:

  • You will not bother about holding a private key;
  • A more experienced trader will trade your asset for you so that you get profits;
  • Such assets will be traded under exchange guidelines.

On Maxi Trade site, you can open your account in order to trade on Forex using cryptocurrency. You will find the best indicators and effective signals as well as other helpful tools. If you have no experience, you can set up a demo account first. There is also a fantastic app that allows you to follow the situation on the market every moment, which is crucial if you trade cryptos. 

What Is Market Capitalization and Why Is It Important?

Market cap (capitalization) indicates the value of a certain coin in the market and it is estimated by multiplying total circulating supply by price per coin. It is important to know the level of risk that you take if you buy certain coins. 

The coins are divided into the following categories:

  • Large-cap assets are those that have a good reputation on the market;
  • Mid-cap assets are those growing in popularity but have not reached large cap yet;
  • Small-cap assets. These are usually are not proven in the market. 

Bottom Line

The cryptos market is an exciting world with lots of opportunities. The popularity of cryptocurrencies is getting greater day by day, and, likely, they will replace traditional currencies over time. If you wish to start trading using them, check out Maxi Trade because it has everything for those who wish to learn and earn money. It is recommended to start your education with helpful webinars that you will find on Maxitrade site.

Maxi Trade Customer Reviews

Before I started to trade with this broker, I had checked its score at Scamadvisor and had gone through different reviews that I found on the Internet. I read various negative things like “Maxi Trade cheat” or “It is a scam.” Although that scared me away initially, I liked the site, so I decided to use their tools to practice. Later, I also found their webinars schedule that appeared to be very informative and helpful. Initially, I traded only conventional currencies, and I was fully satisfied with their platform. Have I lost money? Of course, I did, because it is impossible to trade without any losses, but I still got a good profit. There are lots of fantastic tools in the platform, and I can use their free Forex trading signals daily and I also use different indicators in my work. I found a very helpful book called Naked Forex: High-Probability Techniques for Trading Without Indicators, which also helped me a lot. I have never trusted Maxi Trade to trade with my money because I like doing it myself and I have never had problems with withdrawals.

Before I found Maxi Trade, it was a struggle for me to learn the basics. I downloaded Forex trading strategies PDF and other articles to learn how to use Forex indicators or understand quotes, but I still had lots of questions. The company has an online platform and app, which I found the best Forex signals app. I often read reviews stating that signals do not work, and I agree that it is not that easy to find profitable Forex signals, but whatever you choose, you should open your trade based on your own opinion. All those robots can grab your attention at the right time, but it is your responsibility to check if there are enough reasons to open a trade. So, if signals do not work, it does not mean that it is a scam. You can find the best Forex signals review to pick something, but you still have to learn lots of things to get profit. Trading currencies is not an easy thing and it is not suitable for everyone. Is Maxitrade fraud? I really do not think so.

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What are you saying? You made a deposit but they traded your money instead of you? That’s weird. Maybe, you agreed on that? Maxitrade scam sounds like nonsense to me because they have the best Forex signals. Trust me, I have been through plenty of Forex signals reviews but it was difficult to decide what to choose. “What are Forex signals that would give me the right info,” was the question that I kept asking myself, so I started to test them. There have been a couple of quite poor services, but I cannot call them a scam. Finally, I found the trading platform on the site of Maxi trade and I loved it! Not only did they provide me with fantastic signals, but also with other great tools. However, signals are not a magic tool. It is just not enough to get a signal and open a trade at the right time, because no one would lose on Forex! I think that you should improve your trading skills and obtain more knowledge to understand the market. 

It’s a pity that there are not many details in this Maxitrade review. You can easily find all the fees on the Maxi Trade official site. I don’t know maybe some other brokers offer better conditions, but it is one of those companies that allow you to trade Bitcoin. They also provide customers with Forex signals live for free and you can always find quick Forex quotes. In fact, you can trade something else if you like because there is a great Maxi Trade stock exchange and other instruments. This company is not a scam as I’ve traded with them for five months and made a profit.   

I would not call Maxi Trade Scam. It is an offshore broker and as I know it is not regulated, but this does not mean that people in Maxi Trade lie. Believe me, as I know how a scam looks like. I lost lots of money with some brokers but then I found a Maxi Trade review. I liked the conditions and decided to check it out. Their registration in the offshore zone bothered me, so I decided to test the company. Initially, I traded on Maxitrade stock exchange but then went for Forex. The site always has helpful information, and you can find a helpful Forex review as well as check Forex signals free to use. Working Forex strategies revealed in their webinars helped me a lot. I’ve withdrawn my funds from them several times.