Best online brokers for buying and selling cryptocurrency in September 2023
Cryptocurrencies have been on quite the ride since being introduced, with some early investors seeing sizable gains, while those who bought at the peak in late 2021 having likely suffered some major losses. The digital coins have sparked much debate in the investment industry about their investment merits and viability, with legendary investors such as Warren Buffett saying cryptocurrencies are essentially worthless.
The collapse of crypto exchange FTX saw many of its executives get charged with crimes in 2022 and caused many to question whether crypto can survive as an investment. If nothing else, the volatility of Bitcoin and other popular coins can make cryptocurrencies an attractive trading vehicle and creates the potential for some traders to profit.
While some traders like to own the currency directly, others turn to the futures market. Futures may be an even more attractive way to play the volatility of digital currencies such as Bitcoin, because they allow traders to use leverage to magnify their gains (but also magnify losses). But futures involve a lot more risk in exchange for that potentially higher reward.