Fintech has evolved to become a disruptive force in online currency trading. It's thanks to fintech that trading currency has become more straightforward, leading to a rise in people taking it up.
Here are three ways that technology is changing how we trade currency for the better…
Your money moves faster
The currency market has been waiting for technology to catch up with traders' desires to make split-second decisions. As a trader, you want to move funds quickly in response to the markets, and fintech lets you do just that.
For example, digital wallets like Skrill now make it easy for traders to move money at short notice. You can use your Skrill wallet across multiple forex platforms, which saves time switching between different accounts.
Mobile trading has also increased the speed at which people move money. Smartphone apps allow you to trade on-the-go and react to uplifts and downturns as they happen.
You’re alerted to sudden changes
Trade alerts, trending news, up-to-the-minute data – all are at the fingertips of traders thanks to technology. Being always in-the-know doesn’t remove the risk of trading currency online, but it helps people feel in control.
What's more, instant access to market insights makes a trade more thrilling. Now, you can track the performance of your investment in real-time.
You can exchange from fiat currency to cryptocurrency
Fintech hasn't just made trading easier, it's opened up fresh opportunities for traders.
Cryptocurrency exchanges - online platforms that enable traders to capitalise on the growth of digital currencies - present one such opportunity.
Various sites let you buy and sell crypto online, with the best making exchanging from fiat to crypto incredibly simple. Check out Skrill's cryptocurrency service, which lets you instantly convert 40 different fiat currencies into cryptocurrency.
Fintech: fuelling the appetite for online currency trading
Currency trading is enjoying a rise in popularity and fintech has played a big part in this.
Traders no longer need to waste time battling with unreliable information and slow payment processes. Now, there are a wealth of tools to help you exchange money armed with accurate, real-time insights.
For those of us who want to trade, all that's left to do is learn what technology is out there and how to get the best out of it.
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