It’s clear that Londoners are keen to keep up with their investments. Recently, we looked at reports suggesting that the vast majority of people surveyed favour buy-to-let investments. However, this is just one side of modern investment. Property investment interest may be increasing, but so too is interest in cryptocurrency and digital assets.

Bitcoin, for example, is a popular form of digital currency which has seen peaks and dips over the years. While it is very easy to get into cryptocurrency trading, especially with the help of the best crypto exchange uk or any country that you might be residing in, it does come with risks as well as perks. Cryptocurrency is infamous for being volatile. This means that while it may offer returns regularly, it may just as often dip and fall. For that reason, there are still plenty of people staying away from online markets. Security is not so much of a worry as it, and the recording of blocks of transactions (the blockchain), is maintained and performed by specialised computers called Bitcoin miners. For aspiring crypto miners and investors, it is essential to understand the benefits of crypto mining. The miners will of course possess a copy of the entire blockchain and will have to work hard to verify transactions and secure the network against attackers. For miners to confirm transactions, which includes checking whether the sender has sufficient balance, they must commit to their computing power and consume electricity, an expensive utility. A bitcoin mining hardware (like a ASIC Miner) runs 24 hours a day, 365 days a year in low temperatures and constant speeds that vary with the cryptocurrency mined. Mining bitcoins is difficult When the cost of gearing and fluctuating asset prices are taken into consideration, how long does it take to mine Bitcoin (BTC) and break even? Depending on how Bitcoin prices perform, it could take months or years.

It seems that more and more Londoners are getting into automated trading. Sometimes referred to as algorithmic trading, this revolves around using programs or algorithms to choose when and what to buy, and when and what to sell. Instead of having to rely on your own wits and knowledge, you can use a bot or program to help.

What are the main benefits?

The benefits of automating your trading are fairly clear. For one, instead of having to guess what crypto is going to do, you can rely on a program or app to do it all for you. This is helpful given the fact that these bots and programs work through machine learning.

That means programmers throw their creations in at the deep end. These bots and programs have spent years learning their craft in the wilds of the online markets. To this end, more and more investors are taking advantage of simple, accessible bots they can put to work at short notice.

A huge benefit in using an algorithm is in the fact you can take advantage of market changes while you sleep. As crypto is an international standard, big peaks and dips may occur at any time of day and night. If you really don’t want to miss out, you can set a bot to react whenever you need it to.

What’s more, algorithmic trading removes the chances of you making mistakes. Regrettably, human error can still lead to plenty of trading accidents. By automating your trades, you can bypass this risk altogether. Once you have automated the process and keep a keen eye out for the rise and dip of the various currencies, you can take advantage of apps like Coin Cloud to create your own digital wallet and start the trading process.

Emotional trading

If you’ve been in the trading game for a while, you may already know about emotional trading and its risks. One thing that puts people at odds for trading smartly is the fact that we often buy and sell based on emotion.

When we get a big win, we want to keep winning. If we see a slight drop, we panic and want to sell. By using algorithms, bots and programs, we can avoid the chances of these issues occurring at all. Emotionless trading, for many people, can actually lead to bigger and better market opportunities.

The best traders are able to keep their emotions in check while applying their instinct and knowledge fully to a cause. This is a desirable trait; it will also explain why some seasoned traders prefer to go it alone.

An ideal beginner tool

What many people will agree on is that algorithms and bots are great for beginners. If you are just starting in cryptocurrency trading, you will of course want to take your time looking through what sells well, and when. If not, you will run the risk of being overwhelmed.

Therefore, you could use a program or algorithm to fine-tune your experience. You could ask a bot to invest in markets at a specific value. You could ask it to sell crypto in your portfolio if its value drops below a specific amount. As mentioned, you may also want to put these to use during the night.

Many people swear by algorithmic trading. Others are not so sure; however, one thing is clear, and that is that it’s unlikely to disappear any time soon. Also, if you are a beginner to virtual currency, trading, buying, etc., you can websites that let you buy and exchange cryptocurrency. To get an in-depth understanding, you can check out blogs such as best crypto exchange Australia or similar others for your location.

The future of trading?

The future of Bitcoin and crypto trading is hazy. After all, cryptocurrency is often very volatile by design. However, algorithmic trading is likely to continue to increase in popularity. Though, this won’t mean traditional trading will evaporate completely, either.

Cryptocurrency trading is likely to grow in the years to come, regardless of how we trade and use our money. Therefore, now may be the time to download a program and to start setting up algorithms.