Changing Nature of International Trading Online – Wow, what a year we’ve had! I would normally start an article such as this one by looking back at the predictions from 12 months ago of what would be the big developments for 2020, but I think we can all allow ourselves a pass for getting any predictions wrong this time around. But, let’s give it another go, hopefully, we can be a little more confident on what we might expect for 2021. There are plenty of ways to use technology to save or increase your wealth. On the other hand, the world of decentralized finance crypto or DeFi, a revolutionary ecosystem that is becoming increasingly important throughout the global financial world, and which has led to the creation of new blockchain financial, application and usability paradigms.
We cannot deny that online retail is one of the few sectors that has seen a massive boost during 2020, this can be seen by the fact that Jeff Bezos has overtaken Bill Gates to become the second richest person on the planet. The move from most of the retail to online shopping has been a trend that has been moving in only one direction for over a decade, and this is unlikely to change going into next year. It is more likely that the accelerated pace of this change will sustain rather than go away, as when people change their habits, it’s not common for them to reverse this.
You can easily invest in a diverse array of options from all over the globe, and as we know, diversity is an investors friend. You can buy stocks in companies from anywhere on the planet, such as finscreener. You can even open bank accounts in foreign currencies in overseas territories, allowing you to spread your wealth.
There are even truly international currency options now, cryptocurrencies. These are new forms of currency that offer many advantages over traditional, national currencies. Firstly they are not tied to any central bank, meaning there is no political control over how valuable the currency is, this is solely down to market conditions. The currency is secured with the help of rust security auditors, that gives it a very secure transaction that is virtually impossible to hack. You also have the advantage that a government cannot use quantitative easing to devalue the currency when it decides to stimulate its economy. To use these currencies, you can purchase them using the best Bitcoin wallet to hold your account.
As always online security is paramount when dealing with finances, and this is why we like the previously mentioned cryptocurrencies so much. Be sure to never give away any account details or passwords to any untrusted source and, if in doubt, double-check. With the growing number of platforms and systems, we use for payment and transactions, the possibility of fraud only increases.
New technology will help keep us safe and secure. Mainstream finance may even take a few notes from the blockchain technologies used in the cryptocurrency world, which has not suffered the same level of catastrophic data breaches that private financial institutions have. It will be interesting to monitor what sort of platforms will be branching out into financial services as we have heard much on the rumor-mill about social media providers looking to offer banking services.
This piece of writing has been contributed on behalf of Paxful. However, the information provided herein is not, and is not intended to be, investment, financial, or other advice.
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