FinancialCentre reports – Key Forces Behind The Crypto Mining Stocks Soaring High

London, UK, 12th August 2021, ZEXPRWIRE – Crypto trading is a booming business. Millions of dollars, Euros and even Bitcoins are traded every day.  FinancialCentre Broker Andy Tutcher says that even though the crypto market is still quite young compared to stock or currency markets, it is quickly growing in popularity. A short time ago only professional investors were able to trade on the stock market. But now anyone can trade Bitcoin or Ethereum at home using an internet connection on their computer or smartphone. There are plenty of online trading platforms out there which offer this possibility.

Another great advantage for individual traders is that they do not have to go through banks and financial service providers when sending money over borders (although some platforms offer an option of depositing money through VISA cards). This makes trading large sums incredibly easy.

Cryptocurrencies are based on blockchain technology. By using this technology, it is possible to create a digital (crypto) wallet where money can be transferred between accounts. There are several blockchain platforms and crypto-coins to choose from at the moment, where Bitcoin and Ethereum are probably the most popular ones.

Stock Trading vs Crypto Trading

Crypto trading is very similar to stock trading, but there are also a few differences between the two markets.  

Here is what you need to know. Firstly, crypto market trading happens online while on a stock exchange people trade in person with each other. Secondly, crypto-market exchanges charge commission fees and stock exchanges do not (so far).  Thirdly, there is a higher risk that the exchange rate might move drastically (volatility) when trading cryptocurrencies than it does on stocks. This means that a Bitcoin bought for $3,000 today could be worth only $2,500 or $4,000 in one month’s time depending on market conditions. On the stock market, you can reasonably expect prices to change by no more than 5% over the course of a month.

Like we have discussed, and you must have been observing otherwise too that Crypto and stocks are usually referred to as two separate subjects and compared largely. However, there are traders who like to look at the area which involves both. Yes, Crypto Stocks! 

Crypto Stocks

Today we have a whole lot of crypto firms that have gone public and thousands of wise and far-sighted traders are looking into their stocks.  The crypto market is growing younger each day.   So buy your stocks now and hold.

Crypto stocks will be the future of the crypto industry. So, it is a wise decision to join in on the revolution sooner than later. These firms have already become extremely profitable within just a few years, so you might want to check them out if one piques your interest, especially if you’re looking for long-term income (or even short-term gains!) 

Bitcoin Mining Stocks

These days there are plenty of Bitcoin mining companies. These companies usually develop technology for the mining process. They also offer a platform where you can buy your shares and make huge profits as well as dividends. It is imperative that you know all about what gets bought or sold in this space. 

The Recent Surge 

If we talk about the current situation of the Bitcoin mining stocks then it needs to be mentioned that this Monday, the stocks of some of the mainstream companies such as CleanSpark, Bitfarms, BIT mining limited and Riot Blockchain soared notably high. 

Mr Tutcher says that there were two major reasons behind this rise. One of them was that after a hard patch, Bitcoin has finally gained pace and is rising. With the rise of Bitcoin, mining stocks tend to do better as well. Things are bright and optimistic for cryptocurrency trading right now. This can be said because many people across the globe are starting to show interest in cryptocurrencies and this can be seen from the prices of stocks. 

According to the latest data shared by Coindesk, currently, Bitcoin sits at a worth of $45,900. Mr Tutcher said that many experts thought that the Senate bill might bring the values down but it did not impact significantly. The second reason is that these companies have been doing well for a very long time and have been struggling to attain these goals. 

Mr Tutcher believes that the second reason behind the increase is the dedication that each of these firms has put in and the way they have combated the hard times that befell crypto a few weeks back. These firms have just published their quarterly results and the improved performance is one of the key driving forces behind the rise. CleanSparks and BitFarms, posted the results together coincidently which makes the sync look like a general upward trend. 

Take Away 

Having gone through the latest news in the crypto stocks world, we can say that there is a lot of future to this new market. So investing in it during its growing phase will help you make big profits. It’s like betting on the horses as long as you can predict which horse will win. 

Disclaimer: Our content is intended to be used for informational purposes only. 

It is very important to do your own research before making any investment based on your own personal circumstances. 

You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.