Is trading cryptocurrencies a business?

[Profwriter]

I believe that business is simply the exchange of goods and services for money but I wonder if that definition can accommodate that of cryptocurrencies.

In trading cryptocurrencies, I don not really see what is being exchanged for, it's some how an abstract form of trade.

If you trade in the cryptocurrencies world, can you say that you are into any business? How safe it is to invest in cryptocurrency with its very volatile nature characterised with sudden rises in value as well as sudden fall in value.

Let's hear from you.

 

[sincerem]

Yes, it can be called a business too. Irrespective that it is placed under investment. It is still considered to be a businesses cos money to be gained is involved. Remember business is all about making profit that's the sole aim of every entrepreneur even losses comes at some point. We always hope for profit all round to earn a living through it.

 

[Haypril]

Crypto currency has proven to be one of the fastest way of earning money online.
Trading in Crypto currency can be classified as an investment Irrespective of the duration. And since trading in Crypto currency is an investment, then I can boldly say investing in Crypto currency is not safe. Reason been that all investment involves risks.

 

[Bethel victor]

Business is the act of buying and selling, cryptocurrency allows such, you can buy a cryptocurrency at a cheap rate and sell at an increased amount

 

[greatguy1]

I believe that business is simply the exchange of goods and services for money but I wonder if that definition can accommodate that of cryptocurrencies.

In trading cryptocurrencies, I don not really see what is being exchanged for, it's some how an abstract form of trade.

If you trade in the cryptocurrencies world, can you say that you are into any business? How safe it is to invest in cryptocurrency with its very volatile nature characterised with sudden rises in value as well as sudden fall in value.

Let's hear from you.

Its called trading because you exchange cryptocurrencies. Just like forex where you buy one currency and sell another, crypto-currency trading is buying one crypto coin and selling the other. That is the business side of it. You could make profits or get burnt. All depends on your trading style and execution.

 

[Ekuvero]

Trading cryptocurrency is a business a lot of unemployed youth have been living off it before the recent ban on it by the Nigeria government in Nigeria. Trading cryptocurrency has provided a lot of employment opportunities for those involved in cryptocurrency, most especially those involve in Cryptocurrency arbitrage where you do buy crypto lower on an exchange site and sell higher on anoda exchange site making them amass profits with their phone right from the comfort of their home and anything involving buying and selling or exchange of money for your service is a business already

 

[Georgeadawara]

For someone to tread in crypto currency that particular parson most have an experience on it.
Treading in crypto currency Isa business is just like a forex trading. You use your money to tread with is not the some one is doing it and be giving you some percentage of the treading but you will be doing it on your own some I may call it a business.

 

[btaliat]

To be frank, crypto should be regarded as either trading or investment. And not business. Business require the exchange of goods and services. I mean tangible goods. And cryptocurrencies don't deal with this. With cryptocurrencies, you can only invest on you trade there. But looking at business with a broader view. Cryptocurrencies may still fall on that category.

 

[robertshall21]

Yes, @btaliat saying is complete right.

 

[Olajidey]

Cryptocurrency is a business if you know your way around it, we have many coins and immediately you see this coin is promising you invest in it after it rises you withdraw your money or you can only stick to bitcoin and a longterm investment in bitcoin will surely give you a cool return.

 

[Finger Geek]

I believe that business is simply the exchange of goods and services for money but I wonder if that definition can accommodate that of cryptocurrencies.

In trading cryptocurrencies, I don not really see what is being exchanged for, it's some how an abstract form of trade.

If you trade in the cryptocurrencies world, can you say that you are into any business? How safe it is to invest in cryptocurrency with its very volatile nature characterised with sudden rises in value as well as sudden fall in value.

Let's hear from you.

It is not only exchange of goods and services. Exchanging currencies also is business. We exchange goods and services to gain profits. So also crypto currency, we also exchange from one coin to another coin in other to gain profits.
If you say you don't see it as a business. Then what is forex that all countries government are into?

 

[Hena101]

As we all know what business is all about as the exchange of values and services. So trading cryptocurrencies can also be considered as business because it also involves the exchange of value though through coins. And now a days as everything is going digital with the development in technology all over the world very soon trading crypto currency will take over trading any other things as AFR as I'm concern

 

[Ahmedo24]

Business is the act of buying and selling, cryptocurrency allows such, you can buy a cryptocurrency at a cheap rate and sell at an increased amount

I support your point because cryptocurrency for people that understand it is a very good business and that is why it's called cryptocurrency trading, you observe when the market is down you buy and sell when the market is up. It is infact the fastest growing business online at the moment. I am into the business also.