What is Bitcoin? It’s a cryptocurrency, a digital token that some companies are beginning to accept instead of money. Many call it digital gold as it is considered to be the future alternative to paper currency, it is limited, and it needs to be mined. It has caught the attention of many companies, hedge funds, and billionaire investors.
One of the most promising investment instruments right now is the cryptocurrency one. Bitcoin and other cryptocurrencies have risen exponentially over the last decade. In July 2010, the price of one Bitcoin was $0.08. It is currently over $16,000.
This means if you would have bought bitcoin worth $100 in 2010 for $0.08 your investment would have ballooned to $20 million today. Bitcoin touched a record high of $20,000 back in December 2017 and then crashed to $3,100 a year later. Since March 2020 it has more than doubled and is again on the radar of crypto enthusiasts.
When it comes to stock trading, an aspect that is severely overlooked is the social side of things. Like other professions, hobbies, and interests there is usually communities or networks where like-minded people can discuss together to learn and get a better grasp of ideas. Within stock trading and stock investing, there are a plethora of tools and services that allow you to get better data and make traders faster and cheaper, but there still aren’t enough social sites that provide value to their members. Sure there are many stock investing forums already in existence but there are limited networks designed to discuss and see what others are trading in real-time. eToro is a great site that allows it’s users to copy porfolio’’s of others, something that is beginning to be known as social trading. Unfortunately Canadians are taken to a page all to familiar when trying to go on eToro’s website.