All you need to know about cryptocurrency
Dark money has also been flowing into Russia through a dark web marketplace called Hydra, which is powered by cryptocurrency, and enjoyed more than $1 billion in sales in 2020, according to Chainalysis boom casino. The platform demands that sellers liquidate cryptocurrency only through certain regional exchanges, which has made it difficult for investigators to trace the money.
As of February 2018 , the Chinese government has halted trading of virtual currency, banned initial coin offerings, and shut down mining. Many Chinese miners have since relocated to Canada and Texas. One company is operating data centers for mining operations at Canadian oil and gas field sites due to low gas prices. In June 2018, Hydro Quebec proposed to the provincial government to allocate 500 megawatts of power to crypto companies for mining. According to a February 2018 report from Fortune, Iceland has become a haven for cryptocurrency miners in part because of its cheap electricity.
All about cryptocurrency trading
For beginners, it’s essential to understand what makes cryptocurrency unique, familiarize yourself with common trading concepts such as order books, trading pairs, and order types, and become comfortable with technical analysis charts and tools.
The spread is the difference between the buy and sell prices quoted for a cryptocurrency. Like many financial markets, when you open a position on a cryptocurrency market, you’ll be presented with two prices. If you want to open a long position, you trade at the buy price, which is slightly above the market price. If you want to open a short position, you trade at the sell price – slightly below the market price.
With IG, you can trade cryptocurrencies via a CFD account – derivative products that enable you speculate on whether your chosen cryptocurrency will rise or fall in value. Prices are quoted in traditional currencies such as the US dollar, and you never take ownership of the cryptocurrency itself.
All about cryptocurrency for beginners
Others see crypto as a hedge against the devaluation of regular currency, political instability, and meddling from third parties. Then there are those who view crypto investing as a speculative venture, aiming to profit from the ups and downs of crypto prices.
Before investing, thoroughly investigate the cryptocurrencies you’re interested in. Be wary of scams that promise unrealistic returns. A well-informed investor is better equipped to navigate the crypto landscape.