Why Has Trading Become so Popular?
Over the past couple of years, more and more people have turned to trading as a way to use their money and make a profit.
There are a number of reasons for this surge, ranging from a general distrust of the banking system to simply wanting to control your finances. Whether you have turned to an online foreign exchange platform or you’re a “crypto-bro” now, one of these factors is most likely the reason you are where you are today.
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The first aspect is the rise of trading and investing posts across social media. There are adverts for schools or courses almost everywhere you look now, all wanting to help you start your trading journey.
Another aspect is how social media has spread the call to trade. The DogeCoin explosion and the GME stock saga all spread like wildfire and drew people into the world of trading almost instantly.
Back in the day, it was much harder to get into trading than it is now. You can create an account on a trading platform, deposit money, and make your first trade in about 10 minutes without even having to leave your couch. There are also numerous great cryptos and forex pairs to choose from that are perfect for beginner traders.
All you need nowadays is an internet connection and a debit or credit card. Almost any adult can begin trading without needing the help of a professional or having to be in a certain place.
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Simply put, trading can be very cheap. You could start trading something like forex with only £5 if you wanted to, and still make a profit. This applies to stocks as well; there are countless stocks you can buy for no more than the price of lunch.
Trading and buying stocks has also always been perceived as something the wealthy do. This couldn’t be further from the truth; not only do you not need to be rich, but you don’t even have to be well-off.
Many people nowadays are also more educated on the fundamentals of trading. A good example is Bitcoin; while you may not know exactly what it is, you have heard of it, you know it’s popular, and you know where to buy it.
Using Bitcoin again, news about it is everything. This means that you are, usually accidentally, learning about it all the time. It is something that isn’t a secret of the elite but rather something we can all learn about, and we have the resources to buy and sell it.
It Can be Easy
While becoming a proficient and highly profitable trader takes time and experience, there is very little that is difficult about starting. As mentioned, you can just sign up for an account and deposit money; after that, you are ready to go.
On the other hand, when you buy property, you have to know the area, what you will have to fix, must you do any renovations, etc.; there is nothing easy about that.
Another reason for the surge in trading is that people want an additional income stream while not having to work an extra job. While trading isn’t guaranteed money, it is much easier to do than working another 4 or 5 hours after you get home from your first job.
Forex and crypto trading can provide profits on the same day, meaning you not only get extra money, but you get it immediately. Once again, none of this is guaranteed, but it is a factor.
You Can Do it Anywhere
Another huge plus is that trading can be completely remote. As long as you have an internet connection and your phone or computer, you can trade in bed, on a beach, or on the train or bus to work.
This freedom also means you won’t miss out on any trades or opportunities, and you can always keep an eye on your portfolio.
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Finally, people want more control over their money. Rising distrust of banks has led people to educate themselves on the best way to use their money instead of relying on a bank to do it for them.
While banks are still needed, people want to do more with their money than sticking it into a savings account. They want to be their own bank and use their money to make money.