The image of trading being solely done by professionals wearing suits in high-rise office buildings looking at several monitors is fading quickly.
There is a growing number of users who are entering the world of trading, from their smartphones, at home, and even while they are browsing the web late at night. This shift is supported by emerging platforms like Bit1.com, which provide accessibility to Crypto and Forex markets that conform to how most people actually live and interact with technology.
But this is not only about access.
Users today do not just simply sign up and start trading; they organize their thoughts first. Users will analyze various products before deciding which one to use by viewing multiple points of information including online forums, product reviews, and pre-publishing their research about the product Bit1.com review as well as asking questions about the credibility of the company that issued it.
That is probably a good thing.
There is a significant difference in how trust is established in the digital marketplace because of the internet. Instead of relying on just one source, Users will build their confidence using multiple sources to include articles, chats, references from third-party sources and actual experiences from Users who have already used the product.
That is why companies entering into the marketplace today do not just build a product; they simultaneously build a Digital reputation as well.
In its approach, Bit1.com appears to be supporting/reflecting this reality.
In other words, instead of being solely identified as a trading tool, Bit1.com appears to be at the forefront of a larger trend towards simplifying access to financial platforms.Developing a better way for new users to engage with trading markets has less to do with making them easier, and more to do with clarifying the experience for those still learning about how to trade.
It is no surprise that the crypto and forex markets have a very large number of new traders that feel lost and confused in these markets. Many have never traded before, and the trading environment can be a complete mystery at first.
The reasons why new traders find trading confusing and overwhelming are:
– Fast-paced movements of charts
– 24/7 global markets with no rest
– Constant flows of information, opinions and noise
To this point, confidence is ultimately the greatest barrier to many new traders entering into these markets.
The newest trading platforms have the opportunity to enter into a space and compete based on user experience, as opposed to solely on features.
Providing users with clean interfaces, clear messaging, and reduced friction from the time they are curious to the time they take action are the areas in which newer trading platforms will be able to differentiate themselves from other platforms.
At the same time, the culture of trading is changing.
Profit is no longer the primary motive for many traders. A significant number are exploring trading as part of a greater interest in technology, decentralisation, and financial independence. With many new traders, there also exists overlap amongst gaming culture, digital ownership, and the concept of being part of something that is globally and rapidly evolving.
All these various elements – technological innovation, decentralisation and financial independence – help create a perfect storm for platforms like Bit1.com to enter into discussions in markets beyond traditional finance.
That being said, there also comes responsibility with more access to the newly created trading markets.
As the number of new traders that are entering into the new trading environment continues to grow, the understanding of what it means to be a trader becomes increasingly more important. The new traders today are not necessarily those who jumped into the trading markets without doing their due diligence. They are the new traders that are asking questions, performing background research and taking their time before they trade.
As such, the number of searches for reviews, legitimacy and actual user feedback on trading platforms is continuing to grow.
In many ways, trading platforms do not create the future of trading; rather, it is the traders who will create the future of trading.
Traders will decide what is important to them. They will determine what is considered to be trustworthy. They will decide which trading platforms receive their attention and/or business.
Bit1.com is yet another trading platform that has entered into the new trading marketplace; however, Bit1.com is simply playing a piece of a much larger story of how traders are connecting to technology, trading markets, and discovering new financial opportunities through their involvement with trading.
