Cryptocurrency has been a topic of intense discussions over the past years. In as early as February, 2019 is proving to be an amazing year for the UK bitcoin market. Cryptocurrency websites show that developments like the entry of big crypto firms and skyrocketing bitcoin trading volumes indicate a bright future for the UK’s crypto climate.
Upward Trend in UK Bitcoin Trading
Skew, a data analytics portal based in London, revealed a rise in bitcoin trading traffic at the beginning of the year. The chart showed trading volume hitting around $65 million every day, reaching as much as $100 million ahead of closing hours on the mainstream market.
London as a Geographical Asset
In addition to the increase in trading, Skew also pointed out that London is ground zero when it comes to understanding the UK’s bitcoin volume trend. Experts used to shy away from London in building their Bitcoin trading business, based on the fact that Asia and the US had more traders.
Skew’s research says otherwise. Thanks to its strategic location, London’s early sessions melt into the late Asian trading hours, while the opening of the US market timed precisely with the late GMT trading hours.
Numbers showed a consistent spike in the London exchange at 1600 GMT, which translates to 9:30 AM in Mumbai, one of the lead stock markets in Asia, and 11 AM in New York, the world’s financial hub. This makes London’s location a dark horse in terms of trading, according to Skew.
Major Crypto Firms Arriving in the UK
On top of this, London’s location has started to attract some of the biggest crypto firms in the world. US-based Coinbase established a London office in March 2018 in a bid to enter the European market. One of the largest crypto exchanges today, Binance, also launched Binance Jersey in the UK and is reportedly overwhelmed by the influx of new customers.
The Indication of London’s Crypto Boom for New Investors
Data from trading volume analysis proves that London is a potential gold mine. The UK regulators are starting to move forward with formulating fair and balanced regulations for the crypto market. All signs point to the UK as a quickly emerging global crypto market, and this spells fantastic news for both blockchain technology providers and investors alike.
Begin Investing in the Blockchain Today
While there is much to celebrate, new investors still have to approach crypto investing the same way as traditional investment opportunities. Keep these tips in mind as you plan to invest in the crypto market:
- Learn from a mentor.
It is crucial to have a deep understanding of the blockchain before investing money. However, learning about the blockchain on your own can take a long time, so experts recommend working with a mentor. They can guide you through the nuances of the digital asset blockchain, help you avoid beginner mistakes, and profit from your investments.
- Diversify your portfolio.
Do not expect to be an overnight Bitcoin millionaire. Investors must be savvy and they need to spread out their funds strategically. One way to do this is to diversify — stay away from pouring all your resources in one coin, and study other opportunities such as investing in blockchain start-ups and more.
- Proceed with caution.
Cryptocurrency and the blockchain are here to stay, so there is no need to rush. Start small with your investment and ideally spend only what you can afford to lose. The cryptocurrency offers massive potential for profits, and it pays to have a long-term strategy to maximise your investment.
We at Key Coin Assets can help you start investing in the cryptocurrency market with total confidence. We are a London-based firm focusing on blockchain-based projects, Reverse ICOs, decentralised applications, and more.
Learn, profit, and generate wealth with the UK’s leading digital asset management company. Call us NOW and start to invest in yourself!