With the abilities of a stock broker now placed into the hands of the average South African, it is possible for a common man to become rich through trading, (even if they do it as a hobby). Along with this, traditional routes of investing have recently been stagnating. Since South Africa’s GDP depends often the GDP of its largest trading partners, Europe and China, recently our economic growth dropped by 3% in ten years.
Forex traders in South Africa
R 150020% Bonus
In South Africa
In South Africa
However, with the growth of cryptocurrencies, binary option trading, and other internet securities, less and less value is placed upon traditional fiat currencies (that are often subject to inflation regardless of circumstance). These different means of electronically investing have virtually changed the future of South African investing.
Cryptocurrencies, with their lack of central authority and value not subject to inflation, they are a very attractive investment for traders. Due to each cryptocurrency having a market-cap, the value cannot be decreased unless a cyber-criminal was able to find a security flaw in the original protocol of the currency. This is different from the traditional Rand, which has an infinite supply, but also an ever-decreasing value.
With the growing number of cryptocurrencies on the market, options for support and security for each, and more and more businesses accepting the currencies themselves as valid tender, truly the future of South African Investing lies in cryptocurrencies,
In the past, most individuals had to use stock brokers through the JSE to invest, or other investment managers – while now, most can trade internet securities as a hobby or even as a side income. While it is important to research, and access support before you start investing, it is now becoming easier for the average South African to build up their own portfolio.
Currently, with the rand up 6% this year, one American USD is value to 12 Rand. With the growing number of investments backed off of the USD, it is possible for a common South African trader to utilize this to their advantage. With the value of one bitcoin currently soaring above $6000 USD, other cryptocurrencies with values yet to explode could yield a fortune for the fortunate investor.
With the traditional models of investing falling, and the economic power of South African stagnating, it is now important for the individual to take their own future in their own hands and be pre-emptive on their investments.