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    Anti-Money Laundering: EU clears Ghana

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    Dubai Chamber continues bolstering economic ties between UAE and Africa

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    Anti-Money Laundering: EU clears Ghana

    Anti-Money Laundering: EU clears Ghana

    Dubai Chamber continues bolstering economic ties between UAE and Africa

    Dubai Chamber continues bolstering economic ties between UAE and Africa

    Pension funds share of equities market dips

    Pension funds share of equities market dips

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    Pfizer Makes US$7.8 Billion In COVID Vaccine Sales

    B&FT is Outstanding Newspaper of the Decade

    B&FT is Outstanding Newspaper of the Decade

    Investments in regulatory instruments key to bridging technology & policy gap – MTN Ghana CEO

    Investments in regulatory instruments key to bridging technology & policy gap – MTN Ghana CEO

  • Engineering
    Construction industry : Ghana ranked 7th in value, 6th in attractiveness – Report

    Construction industry : Ghana ranked 7th in value, 6th in attractiveness – Report

    Nigeria Approves Creation of $2.4 Billion Infrastructure Firm

    Nigeria Approves Creation of $2.4 Billion Infrastructure Firm

    Oil and Gas sector welcomes merger of South Africa’s iGas, PetroSA and Strategic Fuel Fund

    Oil and Gas sector welcomes merger of South Africa’s iGas, PetroSA and Strategic Fuel Fund

    Inaccurate solar production estimates impact all players in African power value chain

    Inaccurate solar production estimates impact all players in African power value chain

    Nigeria says no increase in pump prices after regulator sparks confusion

    Nigeria says no increase in pump prices after regulator sparks confusion

    Senegal already produces Gas: Investors should look Onshore

    Senegal already produces Gas: Investors should look Onshore

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    Ghana To Become a Beneficiary Of a $41m Expansion Raised By YAP

    Ghana To Become a Beneficiary Of a $41m Expansion Raised By YAP

    Izwe Savings & Loans Earmark GHS150m for SMEs in Ghana

    Izwe Savings & Loans Earmark GHS150m for SMEs in Ghana

    StanChart committed to positioning Ghana as digital hub

    StanChart committed to positioning Ghana as digital hub

    Afreximbank and ITFC ratify US$250million finance facility to support Africa

    Afreximbank and ITFC ratify US$250million finance facility to support Africa

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    Afreximbank launches US$6.5bn equity capital increase

    Omnichannel banking best bet for multi-faceted/African markets – Backbase

    Omnichannel banking best bet for multi-faceted/African markets – Backbase

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    Nigeria to partner with Bitt Inc to launch ‘eNaira’ digital currency

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    Bitcoin, Dogecoin hit all-time highs driven by Elon Musk – but how to choose an exchange?

    Bitcoin price hits new record high, fuels fresh demands for regulation

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    Benchmark policy puts 100,000 jobs at risk in rice industry – Ghanaian farmers warn

    Benchmark policy puts 100,000 jobs at risk in rice industry – Ghanaian farmers warn

    Why support Africa’s small farmers?

    Why support Africa’s small farmers?

    Why are global food prices rising, and what does it mean for emerging markets?

    Why are global food prices rising, and what does it mean for emerging markets?

    Heavy rains leave Ivory Coast cocoa farmers split on harvest outlook

    Heavy rains leave Ivory Coast cocoa farmers split on harvest outlook

    Fruit market to register compound annual growth rate of 5.3% by 2026

    Fruit market to register compound annual growth rate of 5.3% by 2026

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    The President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

    The President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

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    Ivory Coast begins Ebola vaccinations after case confirmed in Abidjan

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    COVID Vaccine Protection Highly Likely To Wane Over Time – UK Advisers Say

    Biden prohibits U.S. investment in 59 Chinese companies allegedly tied to military, surveillance

    Biden prohibits U.S. investment in 59 Chinese companies allegedly tied to military, surveillance

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Home » Bitcoin, Dogecoin hit all-time highs driven by Elon Musk – but how to choose an exchange?

Bitcoin, Dogecoin hit all-time highs driven by Elon Musk – but how to choose an exchange?

Bitcoin, Dogecoin hit all-time highs driven by Elon Musk – but how to choose an exchange?

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Bitcoin was driven to new record highs Tuesday morning – trading above $48,000 – as investors continue to pile in on the news that Tesla bought $1.5bn worth of the cryptocurrency.

A filing with the U.S. financial regulator on Monday reveals that the electric car company run by the world’s richest person, Elon Musk, has made the massive purchase of the digital asset which has jumped more than 300% in a year.

The surge in the price of Bitcoin and other cryptocurrencies, including Dogecoin – which was also fuelled by an endorsement by Musk on Twitter over the weekend – comes as digital currencies become mainstream due to soaring interest from both retail and institutional investors, increasing levels of mass adoption, and as global interest rates remain at historic lows.

But how does a new crypto investor choose a platform on which to buy, sell, hold and exchange?

Nigel Green, an influential cryptocurrency expert and CEO of deVere Group, one of the world’s largest independent financial advisory and fintech organizations, says there are five fundamentals.

He says: “More and more people are wanting to invest into cryptocurrencies, knowing that they are the future of money.

“But many, even those who have extensive knowledge of the stock market, have concerns about selecting the right cryptocurrency exchange.

“The total capitalisation of the cryptocurrency market is now an estimated $1.2 trillion, but it is still lightly regulated. This means that it’s vital that investors know what to look for in an exchange.”

He continues: “There are five fundamentals for your checklist.

“First, security. The system of a private exchange for saving consumer documents as well as funds should be as decentralised as possible as if it’s all on a couple of web servers, that makes them easy hacking targets.

“Investors should also look for a system that utilises two-step verification throughout login, such as a password, and also quick-expiring codes received through the app.

“Avoid exchanges which offer cheap trade costs or services but are based in areas around the world where investor security is weak.

“In addition, investors ought to assess exchanges as well as the businesses behind them as they would certainly do with any other organisation that they would depend on to protect their money.”

“Second, costs. Some exchanges are proficient at addressing costs in advance, while others hide them. Go for the exchanges that are upfront and transparent.

“Third, simplicity and ease of use. Take into account that you’re not always going to trade from your desktop. In fact, finding an exchange that focuses on ‘on-the-move’ trading via a secure app is often a better option.

“Fourth, dependability. Does the exchange run efficiently when trading quantity is high, or when the currencies rate is see-sawing? Some exchanges are notorious for their system accidents and trading stops.

Fifth, client service. Make sure an exchange has a chat or fast communication service integrated.”

Mr Green concludes: “Whilst Elon Musk’s Tesla, and other institutional investors, including PayPal amongst others, will have teams of crypto experts behind them, retail investors can also get involved.

“Investing in cryptocurrencies remains highly speculative and it is not for everyone – but one of the keys to success would be selecting the right crypto exchange.”

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