Cryptocurrencies are digital money with the same application as traditional paper money, but crypto has not yet been widely adopted as traditional fiat currencies. You can use crypto to pay for services and goods, book accommodation and travel, buy real estate, etc. Although cryptocurrencies do not have a physical form, they are becoming more common and more use cases are opening up, both in the virtual world (e.g. blockchain games, metaverses) and in the real world (online shops, gas stations, cafes, etc.).
Digital assets are actively used for trading and investment. No government can control the prices of cryptocurrencies. That means they can only change under the influence of uncontrollable conditions and factors of different crypto market cycles. That means there are considerable opportunities to profit from the price fluctuations of cryptocurrencies in the short and long term.
Characteristics of crypto assets:
- Trading volume
- Market capitalization.
Reliable rankings (e.g. Coinmarketcap) on all cryptocurrency price indices and other parameters for all cryptocurrencies can be found on the Internet, which assign a certain place in the ranking to this or that digital currency.
What Makes an Impact on All Cryptocurrency Price?
If governments do not control the issuance and pricing of cryptocurrencies, then who does? Here are the factors that influence the price of all cryptocurrencies:
- Issuance (limited or unlimited)
- The global economy, inflation, etc.
- Investor sentiment
- Market trends
- News background.
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Registered clients of WhiteBIT can buy cryptocurrencies with a bank card in just a few clicks. Learn more about the benefits of the WhiteBIT platform and trading on the educational resource WhiteBIT Blog.