Why Trading Crypto is Becoming a Millionaire’s Game
Cryptocurrency trading is an interesting area. It’s a totally new concept, a way of trading that seems to shake off a lot of the restraints of more traditional finance.
Since its inception, crypto has been more or less open to everyone, allowing people without any significant financial background to achieve massive success from virtually nowhere.
This kind of tantalizing opportunity is one of the things that has led to crypto’s booming popularity. All over the world, people see coins like Bitcoin, Ethereum, and XRP as a way to get rich without the need for a big investment or a ton of trading expertise.
It’s hard not to get seduced by it, and it makes for a genuinely exciting and promising movement.
But as time goes on, things are changing. Is crypto becoming more and more like traditional finance — dominated by the wealthy and influential? There’s a fair amount of evidence that it is.
And that’s sad. It’d be a real shame to see that happen to an industry built on ideals of inclusivity and opportunity for everyone.
The good news is that there is still hope. But first, let’s take a look at what’s changed, and why.
Is crypto becoming a toy for the (already) rich?
In the beginning, crypto was always associated with enthusiastic fans. Dedicated and passionate about the space, these early pioneers helped build crypto into what it is today.
There were some initial big investors, but the early crypto community was mainly characterized by ordinary people who just happened to love being part of and supporting this movement. And a few of them made a lot of money from it.
Nowadays, crypto is much closer to the mainstream. Space is home to quite a few ‘Bitcoin millionaires’ who achieved early success and are now enormously wealthy as a result.
In addition to these guys, there are also plenty of established business people who made their money in other industries and have spotted an opportunity to get even richer by trading crypto.
And to top it all off, we’re even seeing big financial firms looking to get involved on a fairly large scale. This graph highlights the huge and increasing amount of investment going into FinTech.
Follow us on Telegram!