Number of ‘Digital’ Investors in Ireland Grows, With More Turning to Crypto

Ireland has indeed embraced technology like no other country, becoming an international leader in innovation and banking. This is why it should come as no surprise that investors are now turning to cryptocurrencies as well.

The number of investors pouring money in cryptocurrencies is on the rise. Roughly 500,000 people reportedly own crypto in Ireland, despite the fact this type of assets is unregulated by the central bank. Per data from the Competition and Consumer Protection Commission, investors are now “going digital,” with 1 in 10 investors hold crypto assets.

One of the main reasons for this can be blockchain projects, which are currently actively raising funds. So why is this number only increasing?

Let’s find out.

Ireland Social media life is booming

Social media is one of the great channels that offers businesses the opportunity to engage with their customers and target new audiences. It’s also a massive platform for Irish companies to share their expertise and stories with the world, which is why they are increasingly eager to embrace it.

Facebook, Twitter, LinkedIn, YouTube, and Instagram are all popular channels among Ireland’s thriving business community. Businesses want more than anything to get people talking about them online, so they can generate leads or even seal deals with prospective customers who enjoy their content.

 This is where cryptocurrencies come into play. Once an audience learns that your company is linked to crypto, it wants to learn more about it. 

Also Read: Predictions about when cryptos and blockchain explode

Cryptocurrencies are safe

 The one thing desirable about crypto is the safety it holds. The security that cryptocurrencies possess thanks to their decentralized nature attracts more people into it. Usually, all the transactions made with cryptocurrencies are much harder to trace almost impossible to block. And it’s challenging for someone else to track your information or find out how much you own, since there is no central authority controlling things like when it comes to banks. 

Cryptocurrencies transfers are fast

Money transfers between people and organizations in different countries have always been another issue here, due to delays. The delays could lead to a loss of opportunity, and this is not something any investor would like to hear. Since blockchain technology is known for its quicker and cheaper transactions, it comes as no surprise that investors are moving to it, since they can transfer money to any part of the world within seconds and not be charged a fortune. 

Cryptocurrencies are private

 Another issue investors have with banks is that all the details and information they keep on centralized storages that can be breached, hacked, or compromised by any other means. If bad actors get access to your personal data, it can be used against you. When it comes to cryptocurrencies, you don’t need to enter any personal information, so there wouldn’t be any worry of such mishaps. 

Cryptocurrencies cannot be duplicated

Another thing that makes cryptocurrencies unique is that they cannot be duplicated. In other words, when you have one bitcoin (BTC), nobody else can claim to have it. It’s amazing and original, much like fiat currencies from different governments worldwide, which are also difficult to counterfeit and steal, unless someone gets their hands on it.

As long as your crypto wallet or cold storage devices such as USB drive or material storage aren’t compromised physically, you needn’t worry about losing any cryptocurrency temporarily stored in them. 

Also Read: APIs Explained: Their Role in Blockchain & AI

The market offers plenty of crypto trading solutions

Among numerous solutions the market offers new and experienced traders to invest in and trade crypto, using trading bots is one of the most popular ways to trade crypto in Ireland. It is usually done with the help of an automated trading bot.

These robots are available to anyone interested in trading cryptocurrencies. They are downloadable from most online stores; some for free, some require that you pay a fee to acquire.

Ideally, if you are doing trading for fun, the free options are best for practice, while paid ones are best if you want to venture deeper into serious crypto trading. Here are a few reasons why trading bots are so promising:

 ● They provide resources to learn.

● They offer analytics tools.

● They make money for you.

● They provide consistency in trading.

● They can be configured to suit your specific trading style.

Still, there are a few things that must be kept in mind when using any automated trading solution. Although they are automated, trading bots still need your supervision from time to time.

That said, if you do not know a lot about trading, there is always a bit of a learning curve, and you will need some time to set everything up and configure the bot to your liking. However, once that is done, there should not be too many issues as bots are pretty straightforward to use.