While the population of the planet is sitting in quarantine, the cryptocurrency exchanges, there is a rise of activity among customers. In recent days five major trading platforms noted an increase in traffic. For example, on Kraken, the number of registrations of new accounts increased by 83 percent, the same rate of exchange Paxful grew exactly twice. This means that people from different countries are not just at home but also actively studied the cryptocurrency and related activity. In other words, do spend time usefully.
We will remind, from-for quarantine, even major streaming platforms Netflix and YouTube have been forced to lower the video quality by default, as the server load has increased dramatically because of increased number of unique visitors. Fortunately, cryptocurrency exchanges are still running in normal mode. That is the world of cryptocurrencies is still ready to accept new users.
The number of cryptocurrency traders in the world grows
The five areas with the fastest growth in new users came Kraken, OKex, Bitfinex, Paxful, and Luno. By the way, Kraken the number of traders who handled the verification of identity, has increased about three times since the start of quarantine measures in the major countries of the world.
However, according to the head of the strategic Department of the Kraken Pierre Rosara, quarantine is not the only reason for the increase in client activity.
In a time when global governments are trying to contain the spread COVID-19 and forced cities and Nations to be under General quarantine, people feel an urgent need to secede from a centralized financial system. They can’t protest on the streets, they are protesting with Bitcoin.
This is common sense — America and the European Union began to print huge sums of money to help the economy cope with the consequences of isolation of small and medium business. The launch of the printing press will lead to inflation, but Bitcoin devaluation because such measures are not exposed. Because the maximum number of coins is strictly limited: there will be exactly 21 million.
However, in the mass people's desire to be a protest against conventional currencies and their mass emissions are hard to believe. Still, Bitcoin has been around for over eleven years and print money constantly. That is the reason to join the army of fans of coins was missing before. Most likely, people simply have some free time, which they decided to devote something new. Perhaps, familiarity with cryptocurrencies on the list of many.
Here is a quote of Marcus Swanpool, General Director of the exchange Luno.
Although the pandemic and created great uncertainty in most, if not all industries, are encouraged by the fact that the credibility of the cryptocurrency has remained at the same level.
Pandemic coronavirus very serious impact on the price of Bitcoinback in mid-February for the coin gave 10 thousand dollars, and today the rate is 6344 dollars. The popularity of cryptocurrencies really remained at the same level, then there are problems in the world has forced fans to look away from the coins. This is another proof that digital assets can survive the global crisis.
What they are doing now.
Read also: Traders withdraw their bitcoins from the exchanges. What does it mean?
Recall, virtually every captainvalor should use the exchange solely for trading. It is on the marketplace you need to leave exactly the amount of money needed for transactions. For long-term storage of bitcoins and altcoins highly recommend you to use cold wallets. You don’t have to worry about being hacked into your account or exchange the night or not.
So the conclusion is obvious: quarantine not only made people forget about the cryptocurrency, but were attracted to this niche new users. Yet the pandemic will end sooner or later, and then people will need to return to a normal life. And even if the economy will be in not the best condition, the crisis is always replaced by growth. So get to know with cryptocurrencies and think over their purchase — a good idea at the time of isolation. By the way, in this case, will our Cryptocurrency Bible.
And what for you changed in trading on the quarantine? Share your opinion in our cryptodata. There, by the way, periodically there are very useful tips for traders. Also don’t miss our news in Google News.
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