As of May 1, 2019, the crypto market is embracing the idea of “trading legit”. These latest crypto news are brought to you by E*Trade. The broker, which now holds roughly 5-million-retail accounts, is working to provide bitcoin to its traders. Its work is inspiring the financial world. What started in 1982 built E*Trade into one of the most dominant, trusted brokers in the USA. The rumors, the inside talk, and the market speculation have always focused on the question of “which.”
“Which of the top, trusted brokers will make cryptocurrencies legit?” There’s little time left to waste. In the waking hours of 2019, E*Trade looks to follow the footsteps of CME Group, which gave its traders a futures platform that legally optioned bitcoins. There’s yet another market stir as TD Ameritrade announces its own “testing” to offer cryptocurrencies. The offering of “crypto” promises to make access easy. Expect a safe, secure way of trading to come.
The firms that are leading this endeavor will enter into a more competitive field, but there are no exact dates as of yet. It’s confirmed, from the reputation of the brokers involved, that the retail market expects new, fresh tools to emerge. Each promise is a big stretch into the growth of cryptocurrencies. By joining to the likes of Coinbase, E*Trade will leverage greater security as set by the largest crypto broker. Coinbase has roughly 20-million users today.
A Look at Bitcoin (BTC) and Ether (ETH) and Why
E*Trade is forwarding a strategic move by only offering bitcoin and ether. Bitcoin emerged as the first of its kind and, with a force that captivated the world, solidified its value within the minds of investors. What the financial world sets out to challenge today—is bitcoin’s utility, yet there are over 100 brands that now accept the coin. Some of these companies include Microsoft, KFC, Expedia, Shopify and Reeds. Now the ether token is, unlike bitcoin, generated by performing computation services.
“Ethereum,” which produces ether, revolutionizes the digital world by taking on a role as “the” algorithm, from which many new systems work through and are built on. Its algorithms are called “smart contracts;” they essentially create new contracts between people and businesses. Ether and bitcoin are now the largest influences in digital cryptography. They’re to be offered by E*Trade via a system that’s equipped with technical and fundamental analysis.
This news, if carried out, is expected to achieve a great deal for cryptocurrency trading.
- Trust: The success of E*Trade will build public trust. Bitcoin, alone, has 32-million-open wallets, and leveraging this market will bring any broker 7-million active users. The challenge faced by cryptocurrencies, as banks and financial institutions loom, is one of credibility. Until the crypto market shows its legitimacy, mainstream finance will fight against it. What E*Trade has announced may help to disprove the current market doubts.
- Transparency: Gaining trust will require transparency as things move forward and an attempt to build a public identity for crypto coins. Security, data protection and easy access are the factors that will be tested in the coming years. Ensuring that these concepts stand up against public doubt is necessary for the growth of the market.
- A Larger Share: Major brokers have major clientele to serve. Their traders trust their financial institution, so by offering cryptocurrencies, a stream of advertising will encourage more people into trading digital coins. The world’s current skepticism comes from how cryptocurrencies are now sold. If crypto coins are only traded by unregulated brokers, then this will cause “regulated traders” to stay away.
- Education: What E*Trade hopes to achieve will educate the world and to set an example. There are still misconceptions. Even greater are the fears around trading digital coins.
- Trading Tools: The “method of trading” is a topic for creative discussion. The strategies of those who trade electronic coins become accessible to all retail traders, and you can bet that there are some new, creative techniques to learn.