04. November 2020 | 14:02 CET
Bitcoin, BIGG Digital Assets, PayPal: What is the best crypto investment?
Once the genie is out the bottle, you can't get it back in. It's the same or similar with digitalization. The advantages are so overwhelming that only a few people want to do without it - even if there are disadvantages. When it comes to the electronic transfer of capital, supervisory authorities and public prosecutors point out the dangers of money laundering. Cryptocurrencies are unfortunately the preferred field of activity of criminals. Nevertheless, the price of Bitcoin is currently going through the roof again. The best-known of all cryptocurrencies developed rapidly after the start of the second Corona wave - within a month alone, the replacement currency to the Euro rose by around 25%.
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ISIN: CA0898041086 , US70450Y1038
Bitcoin is long the gold standard
Bitcoin's share price is driven by numerous positive messages. A few weeks ago, the US payment service provider, Paypal, announced its intention to support Bitcoin and the share price increased significantly. Over the past months and years, numerous governments and supervisory authorities have created a legal framework for Bitcoin and other digital assets. Today, real values can be legally certified, utilizing blockchain technology. Since this digital solution leaves intermediaries such as banks or brokers out in the cold and processes are automated, cost advantages are created. The further the technology penetrates the real economy, the more Bitcoin benefits. The classic among cryptocurrencies has long been regarded in the industry as the "gold standard" and replacement currency.
After the recent smaller exchange rate losses the Kryptowährung must overcome some chart technical resistances, up to the mark of USD 14.650, to penetrate again into a positive fairway. Fundamentally the primary conditions for Bitcoin remain positive. Digital assets offer tangible advantages and have long been backed up by real values. Bitcoin provides a structure secured against manipulation, which millions of market participants trust - similar to gold.
Bigg Digital Assets works with government agencies
The Canadian Company BIGG Digital Assets has recognized that there are always suspicious incidents involving cryptocurrencies and that criminals, in particular, use anonymous currencies for their machinations. With "Netcoin", the Company operates a trading place for digital currencies, which is currently used by around 20,000 market participants every day. According to the Company, there is a good chance that the platform will become the first regulated crypto exchange in Canada, and the approval process is underway.
Why the share can be considered an insider tip
At the same time, BIGG Digital Assets has developed analysis software that allows regulators or even companies to identify conspicuous movements in cryptocurrencies and thus reduce risks associated with transactions. BIGG trains employees of public authorities, banks and stock exchanges and thus brings itself into play as a provider of technical solutions against the misuse of cryptocurrencies. Just recently, the Company sold an annual license to a US federal agency for CAD 320,000. As the use of cryptocurrencies becomes more widespread, the demand for BIGG Digital Assets' services will continue to grow. Given the market capitalization of only EUR 22 million, the share may still be considered an insider tip.
PayPal jumps on the bandwagon
In contrast, the share of PayPal is anything but an insider tip. The Company is the payment pioneer par excellence - more than ten years ago it was possible to pay conveniently with Paypal online with just a few clicks. Since then, the Company has expanded its range more and more. While the market in industrialized countries has already been penetrated, PayPal is now attracting customers in emerging countries with the help of cooperations with supermarkets. PayPal recently announced its customers would also be able to exchange existing credit for Bitcoin in the future. This is an accolade for the digital currency.
Diverse opportunities for crypto investments
PayPal is making itself more independent of established currencies and is sending a clear signal. The more Bitcoin becomes established, the more there is a need for adequate technology to shed light on transactions involving the anonymous and decentralized currency. Companies like PayPal are already thinking about how regulatory obligations around digital currencies can be fulfilled. BIGG's solution is in use today and is easy to use. The market for cryptocurrencies is on the move. The list of potential profiteers is long. Investors will also find opportunities for attractive returns beyond the established names.