3 Reasons Crypto Investing Is A Social Activity
At first glance, it's easy to see cryptocurrencies as another asset in the same class as equities, but crypto investors know this technology is fundamentally different. Cryptocurrencies offer the ability to become part of a technological, economic, and social movement that doesn't exist when dealing with stocks, ETFs, or other traditional investments.
Of course, cryptocurrencies are also a technology born from the internet age, making them nearly impossible to separate from the ubiquity of social media platforms. While taking a hands-off approach to cryptocurrency investments is possible, being part of a community can be far more rewarding and lucrative. Here are just three ways that crypto investors fundamentally benefit from social platforms.
1. Constant Updates
Stock markets close, and most centralized investment opportunities limit normal investors' trading hours or activity. While these limited trading times can be frustrating, they also provide some breathing room. On the other hand, cryptocurrencies trade at all hours, with no centralized entities to limit purchases and sales.
Such a fast-paced and constantly changing environment means that staying on top of the latest news and updates is critical. Social chat platforms allow you to connect with other investors at any time of the day, ensuring that you can stay up-to-date on information that can affect your investments and even giving you the opportunity to stay ahead of the market.
2. More Options
Modern cryptocurrency trading involves utilizing large platforms to conduct large-scale trades quickly and efficiently. However, cryptocurrency's nature remains decentralized. As a cryptocurrency investor, you can always retain direct control of your funds and wallet and don't need to utilize these large platforms for transactions or trades.
By becoming part of a larger community, you'll meet like-minded individuals and keep your options open for making transactions outside of the larger trading platforms. This flexibility can make you a better crypto investor and allow you to use your cryptocurrency to purchase goods and services from other users directly.
3. Reliable Information
There's no getting around the fact that the cryptocurrency space is huge, complex, and, for beginners, often intimidating. Participating in a community gives you access to reliable information from other traders with more knowledge and experience. As a result, you'll have a better fundamental understanding of how cryptocurrencies work and how you can benefit from them.
The constantly growing and evolving nature of social chat platforms for cryptocurrency also means that you can ask questions and get more up-to-date information. By taking advantage of (and contributing to) the community's knowledge, you'll have the opportunity to become a far better trader than someone going it alone.