One in five financial organizations contemplating crypto trading: report
The majority of these firms are planning to begin trading digital currencies within the next six months.
New survey data has revealed that one in five United States’ financial institutions are examining the possibilities and ramifications of trading digital currencies, such as bitcoin, sometime in the next year.
A recent study conducted by Thomson Reuters analyzed more than 400 clients across a range of financial platforms including large asset managers, hedge funds and trading desks at the biggest banks.
Of the 80 firms (20%) that envisaged they would be trading virtual currencies in the next 12 months, almost three quarters (70%) of those confirmed they were planning to start trading in the next three to six months.
Robinhood, which allows everyday Americans to trade stocks and cryptocurrencies commission-free, revealed this week that its Robinhood Crypto service has rolled out to customers in the western state of Colorado.
The cryptocurrency craze has caught fire since December. Thousands of users sign up daily to buy, hold and trade cryptocurrencies. Blockchain networks and exchanges that run them are bursting at the digital seams.
New data released this week shows cryptocurrency funds have suffered a significant fall from grace since the beginning of the year, highlighting the extremely speculative and volatile nature of these unseasoned assets.
Over the first quarter of 2018, digital currency mining malware eclipsed ransomware attacks, according to the latest research report. Plus, new developments in malware are happening first in the cryptomining sector.
Cryptocurrency advertising has been a contentious issue for social media users and platforms since market prices soared to all-time highs at the end of last year. Many companies and websites have banned crypto-related promotions and advertisements as a result of scams, pyramid schemes, extortion and trading volatility. However, LinkedIn co-founder, entrepreneur and investor Eric Ly suggests that these restrictions are simply a protective response and transient measure. Ly believes token sale ads will be re-permitted on these platforms.
You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.