In this episode of La Plaça, Oriol Blanch, Affiliate Country Manager of Bitvavo, analyses the current situation of the cryptocurrency market and gives us some tips to keep in mind before investing.
The emergence of Bitcoin in 2009 marked the birth of a new financial paradigm that uses blockchain technology as the basis for the creation and operation of decentralised digital currencies. The immense popularity and rapid expansion of cryptocurrencies have made them the leading investment product for the under 30s.
However, it is crucial to know the risks associated with this market and the importance of having the right information before investing, “it is essential to educate yourself, to really understand what you are investing in and what you are buying”, says Oriol Blanch, Affiliate Country Manager of Bitvavo, one of the most important cryptocurrency exchange platforms in Europe.
Crypto assets are stored in digital wallets, so cyberattacks can compromise the security and privacy of the funds. Hackers seek to exploit vulnerabilities in exchange platforms and digital wallets to steal cryptocurrencies. In fact, Blanch recommends “having an ‘offline’ or ‘cold’ wallet, so that you can store cryptocurrencies under your own passwords”.
Regulating a high-risk asset
Cryptocurrencies are highly volatile and their prices can undergo drastic changes in short periods of time. This volatility can generate significant gains, but also significant losses.
Moreover, the cryptocurrency market is still not fully regulated in many countries, so investors are exposed to possible fraudulent practices, scams and market manipulation, thanks to the ease of anonymity that characterises crypto-assets.
In this regard, last Thursday the European Parliament approved the new regulation for crypto-asset markets, known as the “MiCa” Regulation, which seeks to regulate the issuance, supply and trading of cryptocurrencies. A measure that, as Blanch states, “should help these assets to be implemented in many institutions and increase their value”.
If you want to find out how to get returns on your savings with a social justice product, 11Onze recommends Litigation Funding.
Leave a Reply
You must be logged in to post a comment.
Gràcies per l’article.
Moltes gràcies, Manel!!!
Cal informar-se molt i molt bè abans de fer els primer “pinitos” en aquest món perque no totes les criptos són el mateix… i afegiria ademés de la mà de gent bona i que no tingui conflicte d’interessos, que aixó ja és més difícil. Sens dubte és un tema en el que ens hem de posar al dia tots i més aviat que tard doncs el sistema actual de divises sense sostre s’està esgotant i no s’ aguanta i acabarem tots ben empobrits si no espabilem… especialment la classe mitjana que és on tenen fixat el target els de ben a dalt … ho sento però algú ho havia de dir… Excelent iniciativa poder tocar aquests temes a ONZE, felicitats
Moltes gràcies, Joan, per la teva reflexió!
Es instructiu i alhora difícil de entrar i conèixer aquest mon
Gràcies pel teu comentari, Alícia!
Gràcies
Gràcies a tu, Joan, per seguir-nos!