8.1 C

Brazil’s biggest investment broker will offer BTC trading

Must read

- Advertisement -

Investing means buying cryptocurrencies with the hope that their value will go up over time. When someone invests in bitcoin, it’s usually because they don’t need the money soon. Log on to https://bitcointraderapp.org/¬†for crypto trading, an official website that simplified trading.

By buying and taking care of assets, investors hope to slowly make a profit over a long period of time. In the world of cryptocurrency, this is called “holding.” Most serious investors don’t pay much attention to the news or other everyday events that affect the markets, so they don’t invest much in Bitcoin. 

This is one of the strange things about investing in cryptocurrencies. Investors want to keep their bitcoins through a number of different market cycles. This means that investors may decide not to sell even if the prices go down.

- Advertisement -

This is because the value of most things tends to rise over time. Most people who invest in cryptocurrencies hold tokens for one of two major reasons. The first is that people who invest early on are most likely to make money.

When prices are lower, people who buy before the crowds can make more money when they sell what they bought later. The second reason is that they think the value of Bitcoin and other cryptocurrencies will keep going up as they become more common in mainstream banking and as more well-known businesses start accepting them as payment.

Changes in prices don’t have much of an effect on investments in the short term. Still, investors need to think carefully about the risks that are involved. As with any way to handle money, there is always a chance that the original investment won’t grow in value and may even be lost.

The best investors in the world don’t try to “time the market” most of the time. Instead, they invest their money in smaller, more stable ways over a longer time period. This is good news because it also works with virtual currencies.  

- Advertisement -

A translated report from Info Money says that XP, the largest broker in Brazil in terms of market value, plans to start a cryptocurrency trading platform that will let its customers buy, sell, and hold bitcoin and other cryptocurrencies. Customers of XP will also be able to trade in other kinds of digital currency.

The platform will be called XTAGE, and it was made with the help of Nasdaq so that it can be used with the XP app. The platform will probably be ready to use around the end of June. At first, XTAGE will only work with bitcoin and one other cryptocurrency.

Roland Chai, executive vice president and head of market technology infrastructure at Nasdaq, said, “Nasdaq’s robust and flexible infrastructure technology is designed to meet market demands as well as current and future regulatory structures. This will allow XP to scale its platform reliably and add new asset classes as they grow and change.” “Nasdaq’s infrastructure is built with technology that meets both current and future market needs and rules.”

Because customers’ cryptocurrency portfolios will be combined with those of their other assets, the app’s user interface will feel natural and easy to use. All 3.5 million XP users will be able to use bitcoin because of this feature.

- Advertisement -

Based on the results of an internal survey at XP, more than 60 percent of the company’s customers are interested in buying bitcoin and other cryptocurrencies. Also, 80% of customers who already invest in these assets elsewhere would like to use a trading platform made by XP.

Lucas Rabechini, who is in charge of financial products at XP, was reportedly asked about how much it costs to use the platform. He reportedly said in response that he could promise his clients that they would have “extremely low rates.”

Those who want to use XTAGE will be given a wallet that can store their bitcoin. Customers won’t be able to move money from one wallet to another at launch. People have said that XP will get the ability to transfer at a later time.

Rabechini added that this would make the platform safer, and BitGo would be XP’s partner in keeping the coins safe. Most of the assets will be kept in “cold wallets” as well.

- Advertisement -
- Advertisement -
- Advertisement -

Latest article