Opinions of the trade press and awards of the broker

Important criteria in this context are the range of cryptocurrencies on offer and the trading conditions. In addition, as shown, the trading platform and customer support also play a very important role.

Many brokers often advertise on their websites with awards they have received from financial magazines, financial portals or at trade fairs. What is important here is above all from whom the broker received this award, and also the question in which area the provider was awarded.

For example, the title "Best Crypto Broker" is very meaningful if it came about through a customer survey with several thousand participants. If, on the other hand, the award was only given by a small website, the significance is rather low. In addition, one should pay attention to whether the broker received the award "only" for its trading platform, for example, or whether the provider was positively evaluated as an "overall package".

Overall, in our experience, it is necessary to try out a broker yourself. As shown, a demo account can be used very well for this.

• How does the trade press rate a particular broker?
• Has the provider already received awards such as "Best Crypto Broker"?
• Who awarded the prize? 

Market overview and outlook

Overall, the cryptocurrency market has changed a lot in recent years. The history of crypto coins began in 2009 with Bitcoin. At that time, however, the success of digital currencies in mt4 Exness was not yet foreseeable. They were developed with the idea of being a better alternative to conventional currencies such as the euro or the US dollar.

However, it was only a niche product at the beginning. Due to the strong price increases (especially of the Bitcoin), more and more people and especially the media became aware of cryptocurrencies. This is also not really surprising, because in 2017 Bitcoin in particular managed to rise from around 1,000 US dollars to 20,000 US dollars initially and gradually to new highs again and again over the next few years.

It is therefore not surprising that many traders are fascinated by these massive price increases. There are many analysts who see the cryptocurrency at 500,000 or even 1,000,000 US dollars in a few years. In comparison, the current valuations seem very low. However, before using real money in crypto trading, it is advisable to first get used to the strong price movements of the digital currencies on a demo account.

The future development of digital currencies

In the meantime, cryptocurrencies have also arrived in everyday life. For example, you can also pay with bitcoin in more and more online shops. In addition, more and more investors are becoming interested in cryptocurrencies. More and more large investors (such as banks and insurance companies) are using cryptocurrencies to diversify their portfolios in order to broaden their horizons. Overall, one can therefore observe an increasing demand, which will tend to lead to ever-rising prices.

However, there will also be repeated corrections. These can then be used to stock up on crypto coins at lower prices. As an investor and trader, however, you should not only concentrate on bitcoin. Because the blockchain technology on which bitcoin is based cannot only be used for digital currencies. The blockchain can also be used, for example, to securely store large amounts of data or to make transport chains forgery-proof.

This is necessary, among other things, when it comes to the production and distribution of medicines. Overall, it can therefore be assumed that cryptocurrencies will continue their triumphal march in the future.