Cryptocurrencies will be the future of the financial system

Investors who are able to withstand declines in asset prices by tens of percent will be successful in cryptocurrencymarket, says the president of the analytical company Bianco Research Jim Bianco.

“Some of these coins, like Ethereum, will rise significantly higher over time,he said in a conversation with CNBC."But you will have to endure many repetitions of what we saw last week, over the next months or a year."

There are great long-term prospects hidden behind speculative betting on cryptocurrencies, Bianco said. He is confident that digital assets can successfully transform the existing financial system.

“They have big promises and it really means a lot. The problem is that another driver is a kind of uncontrolled casino in which people place bets on the rise and fall of such coins. ", - he said.

Bianco warned that at any moment there isrisk of a 50-70% decline in cryptocurrencies as it is still a relatively new technology. However, with the end of the distribution phase, they will acquire a fundamental role in the real economy, and their prices will generally become much higher.Investors chasing in the early years of the industry will be disappointed.

“This means that further profits will be significantly lower. As volatility spreads, it will slow down and the risks and rewards will diminish. "- he added.

In his own words, Bianco is holding a basketdigital currencies since 2017 and avoids active trading. He usually rebalances the portfolio once or twice a year and holds Ethereum, but not Bitcoin. He also believes that owning cryptocurrencies is important, as they show an increasing connection with other risky assets, including stocks.

“This was not three or four years ago, but there isnow. If the volatility of financial markets continues to rise, such as in the VIX, it will help build confidence in the cryptocurrency space. "Yes, we need a solution, and this is the solution."- said Bianco.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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