Essential Guides for the Proper Crypto Support Now for You

It is a practical guide to investing in bitcoin for savers recalls the precautions to take before investing in this risky market and reserved for technophiles.

Aware of the tremendous and media craze around bitcoin, the companies offer a practical guide for savers who might be tempted, or approached, to invest in this virtual currency. Initially, the Constable of the Stock Exchange explains the fundamentals of bitcoin, its mode of creation, its decentralised operation. While recognising a function of money, which can be used as a means of payment on some websites and some businesses proximity, the regulator recalls that no virtual currency “is legal tender”. So nothing obliges a merchant to accept payment in bitcoin. From the https://www.amarkets.com/promo/ now you will be able to have a complete idea.

Bitcoin exchange platforms must be approved.

Regarding platforms for the purchase and resale of bitcoins, the regulator reminds savers that “it is essential to check the reputation and reliability of these sites.” Knowing that “in France, the intermediation activity of receiving funds from the buyer of bitcoins to transfer them to the seller of bitcoins is a payment provider accreditation issued by the ACPR”. Thus, before choosing a platform, it must be verified whether it is accredited by the ACPR to carry out this activity (it must be a credit institution, an electronic money institution or an institution Payment) and if it is present on the register.

No official course or legal tender

Then, the very high volatility of the price of bitcoin makes it a risky asset on which we can win but also lose a lot. Moreover, given that virtual currencies are not legal tender, they do not benefit from central bank guarantees and nothing protects savers in the event of bankruptcy of the intermediary. The AMF also insists on the technical and sophisticated side of the operation of bitcoin and its underlying technology, the blockchain.

CFDs on bitcoin: the double risk

Naturally, while online brokers take advantage of the technical complexity of investing directly in bitcoin to offer CFDs indexed on this currency, the IMF indicates that “in this situation, double vigilance is required”. Indeed, as a first step, it will be necessary to carry out “traditional verifications before investing on a CFD”, namely the verification of the broker’s approval (investment service provider), the understanding of the operation of this type of financial instruments, controlling the effects of levers. In short, for the “CFD bitcoin are highly risky speculative products”.

Finally, the regulator recommends “absolute caution” on the very different investment proposals around bitcoin that can be made on the internet, such as the purchase of training packages, bitcoin mining or management mandates on digital assets. In these cases, you should contact info service directly.

Comments are closed.

  • Partner links