A report from the central bank of Canada highlighted a simple yet bizarre fact regarding bitcoin ownership. The report showed that while most people are knowledgeable about basic cryptocurrency knowledge, only a minority of them own it.
The report gives us the insight that financial literary is positively associated with cryptocurrency awareness but negatively associated with its ownership.
As a result, the crypto market is being swamped by less knowledgeable investors who jumped the bandwagon to join the crypto community. Because of this, the market is prone to manipulation and over-reaction. For the crypto community to expand, it needs fair and knowledgeable investors who need to grow.
A pool of information for new investors
To tackle crypto illiteracy and inspire budding investors; Dchained.com provides the latest and the most important news related to cryptocurrency and blockchain. Not only this, but an entire library of thoroughly curated topics that confuse even the most senior investors, regular Q&A sessions, and online chats between the site members is also available.
Real and fake news
Cryptocurrency has a lousy reputation with fake news circulating every now and then. These fake noises develop as a result of unadulterated compliance, fear, or bias. As recent as in early May, we experienced a bogus event relating to an SEC meeting on Ethereum.
So, at a time like this, how is one to decide which news to rely on? This nuance has a simple solution. The Dchained platform keeps you up to date with the latest developments and evolution in the crypto market and the latest fake news in circulation.
Learn to identify Trading opportunities
The year 2018 saw the lowest drop in Bitcoin value, with its price dropping more than 80 percent in one month. To new and eager investors, this development made them rethink their decision to invest in cryptocurrency.
The situation was aggravated when new investors understood that cryptocurrency is all speculation if looked at through a critical lens.
To elaborate further, the general rule of investment is to know the underlying fundamentals of the asset in which you’re investing. For example, if someone is earning in stocks, they need to check the balance sheets, monthly and yearly profits, etc. It is crucial since you are a partial owner of the company, and if the company grows, so does your share. However, the problem with cryptocurrency is that there are no underlying fundamentals and no real value.
Traders face quite a predicament here since news and publicity relating to cryptocurrency is always on the rise while the asset holds no real value. In situations like this, the Dchained platform gives new investors a thorough guide to learn and identify crucial trading opportunities. Not only does the online literacy network provide trading information, but it also provides current and current regulations being observed in the crypto market. The critical point is choosing the correct trading company like coinmetro.
When you hold or purchase cryptocurrencies it’s always to have a better understanding of the best online wallets that are available, especially to secure your cryptos from hackers. One of the most famous cryptocurrencies SIAcoin has different wallets explained on this guide.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.