What is it like to be a broker, or trader?

Being a broker / trader is one of the most notoriously glamorous jobs in the world. Glamorous for the high paying salaries, excitement, and pompous lifestyle that traders have adopted, and notorious, for the exact same reasons. In a post The Wolf of Wall Street (2013)
World, broker and traders appear to be a group of chauvinist cash-hungry pigs with no regard to society or any other person for that matter. Is this true? Like all stigmas – it’s true for some, and imprecise for others. Some people are lavish and extravagant by nature so given the right opportunity they go wild, while other traders treat this profession like any other profession without being drawn to a certain lifestyle nor losing touch to reality and their surrounding society.

First off, let’s review what skill set is required to be a good trader:

  • To be a good trader you need to be talented at risk assessment, analysis of data, and numbers in general.
  • To be a good trader you need to have the ability to spend many hours learning.
  • To be a good trader you have to know to be very calculated and separate between emotions and rational thoughts.
  • To be a good trader you also need to fearless and take calculated risk.

If you want to be a good broker (someone who deals with the client), you need to possess the following qualities:

  • Have the ability to understand the job of trading. You may be not the best trader in the world if your work involves only speak to clients, but you need to know the job well enough to communicate it over to the client.
  • You need to be patient, soft-spoken and at the same time have salesman qualities. In the world of finances (unless it’s something sketchy like binary options), you can’t just be a full-blown pressuring salesman – you need to be able to show how you provide value before you sell.
  • You need to be precise and organized. You also need to have the ability to act tackle multiple request quickly and efficiently. A lot of clients decide to do business based on the service they get from their broker, and they all want to feel like they mean something i.e. their requests or orders are not overlooked and executed without delays.

Going down this route is very much a commitment. You will have to do overtime at work. The more competitive the workplace is, the more overtime you will spend. Some people like this derivatives trader from London claim things are less stressful than they appear to be, but that would heavily depends on your specific role and which assets are you actually trading.

A “trader” or a “broker” are pretty generic words that describe someone who buys and sells certain securities for a living, but there are various types of those. What we referred to as brokers earlier in this article, can also be named a “front-end trader” in some companies. These so called traders can be in a position where they aren’t allowed to trade, just handle customers, in some companies, and in other companies they would also execute the trades. Additionally you have the back-office traders (or brokers!) who would normally just sit in front of a computer screen and execute orders.

There are also several industries who loosely use the term trader while in each industry it may mean something completely different. Working as a trader for a company like World First (FX transfers) is nothing like being a commodity trader in GS and the salary is very different as well – a GS trader makes $130,000 annually on average, an a dealer position on World First pays around a third of that. . Being a Futures Trader is a lot more high-paced than being a government bond trader or an energy trader (although you can still make a lot of money in either one). The main takeaway is not to fall into titles – a dealer, trader or broker can mean a whole lot of things.

Why a Debt Management Plan can be the Difference between Success and Failure in 2018

If overspending over the holidays has you feeling a little blue, you are far from alone.

With empty pockets, weeks until payday and the prospect of simply getting through the dreaded month of January, there is no better time to start afresh than now. The top priority of many dealing with the fallout of excessive spending and looming debt is to ensure that they do not fall into the same trap this year. So where to start?

Debt Management Plans & Budget Planners

Well, the good news is that a solid plan and a little foresight may have you back on your feet earlier than you think. Knowing the exactly what kind of help and assistance available to you is likely to give you the boost you need. For example, Creditfix offers those struggling with debt assistance via a Debt Management Plan (DMP). The purpose of a DMP is to help those drowning in debt reduce their monthly repayments with creditors, easing the financial burden and the toil debt can have on both mental and physical health.

For those unfamiliar with this option, it is essentially a recognised debt solution which is not within the same bracket as Bankruptcy, Individual Voluntary Agreement (IVA) or a Trust Deed. A Debt Management Plan can be actioned on an individual basis, yet it is far more advisable to consult a seasoned professional who is experienced in this field for a greater chance of success. It is also important to know that the aim of a DMP is to lower repayments rather than have them written off.

Those with lower incomes, single parent homes, and larger families are certain to be hit harder in 2018 than most. This also applies to students, who tend to offset any concerns relating to debt. For those at university, University of Nottingham’s Budget Planner is a helpful tool.

Figuring out your disposable funds by using a budget calculator may be enough to give you an idea of what you can afford, but without knowing how to action a plan and who to approach, it is likely that you may fall back into bad habits. Seeking guidance on what option is the best for you is generally the most pragmatic way of approaching how to deal with your situation. In speaking to advisors, you are likely to get a greater picture of your goal in debt management and a plan of action.

While each individual will come with unique circumstances, it is important to understand the ramifications of not addressing debt problems. A study conducted on the link between debt and mental health concluded that individuals in debt are three times more likely to have a mental health problem. In the study, less than 9% of participants with no mental health problems were in debt. Individuals with mental health problems made up over 25% of the studies.

A new year means a new beginning, to those willing to make it so. Getting the right advice and the right Debt Management Plan just may be the best place to start.

Cleaning is Still the #1 Cause of Deposit Disputes

Are you worried about losing your deposit at the end of your lease? According to a new analysis by ARLA Propertymark, the UK’s foremost professional body for letting agents, cleanliness is by far the most common reason for deposit-related disputes between tenants and landlords.

Keeping your home or apartment clean and damage-free, it seems, usually makes the process of receiving your security deposit easier.

However, many tenants make the mistake of leaving their rented property in poor condition — a cost that’s often picked up by the landlord. As a result, an estimated 59% of tenants lose some or all of their deposit when departing a rental property at the end of their lease agreement.

Below, we’ve covered some of the most common reasons for deposit disputes between tenants and landlords — ranging from cleanliness to property damage — to help you, as a tenant, receive a larger share of your deposit as your rental contract comes to an end.

Cleaning Issues

Cleaning issues are the most common reason for tenants to lose part of all of their deposit, with almost 90% of letting agents reporting cleanliness as the primary cause of deposit issues.

In most cases, cleaning-related issues boil down to the tenants leaving the property in a state in which it can’t be rented out to a new tenant without extensive cleaning. In response, the landlord is forced to hire a professional cleaner, usually passing the cost of cleaning on to the tenant.

One reason for this dispute is the difference in expectations between tenants and landlords. For the most part, tenants expect a normal level of cleanliness, while landlords often expect that the home or apartment will be cleaned to a professional level before the tenant moves out.

The key to getting your deposit back? Use a professional end of tenancy cleaning service when your lease comes to an end, and take before/after photos of your property to ensure you have a record of its condition on move-in and move-out day to show to your landlord.

Poor/No Maintenance

Maintenance issues are another common reason for tenants to lose their deposit, either in part or in full. Often, a simple maintenance issue like an overgrown garden or damaged fixtures can be all it takes for a landlord to start deducting fees from your security deposit.

As a tenant, you’re expected and obligated to carry out general house maintenance under the terms of your contract. In short, keep the property well maintained and in good condition for a higher likelihood of receiving your full deposit back once you move out.

Just like for cleanliness, it’s worth taking before/after photos when you move in and out to show your landlord that you’ve lived up to your end of the deal.

Home/Contents Damage

Finally, the third reason for a deposit to go unreturned (or only partially returned) is damage to a property and/or its contents.

Most of the time, property damage is fairly minor. However, the paintings you hung on the living room wall (complete with nail holes and discoloured paint behind the painting) come at a cost to the landlord, making it fair that they deduct from your deposit to repair the damage.

The best approach to this problem is simple: photograph your property before you move in and when you move out, and always discuss modifications with your landlord. You’ll be surprised to learn how many landlords are okay with minor decorating, provided there’s no lasting damage.

Success Factors of Primary Issuances

IPOs are amongst the most challenging investment banking transactions to execute. This is partly because the nature of IPOs involves a large reliance on the reaction of public markets to the stock being offered – something that is difficult to gauge beforehand. Unlike the dot-com bubble days, today’s VC-backed companies have to wait a duration of 7-10 years before they are ready to pitch themselves to the public markets and raise capital from public investors. Post the bubble, investors have become a lot more cautious about past performance and require steadier cash flows while relying less on “creative metrics” used in the bubble days to justify low or negative earnings. In this environment, there are some factors that companies can consider before initiating the IPO process.

Firstly, it is important to have a C-Suite (particularly the CEO and CFO) that is well-versed with the paradigm shifts of equity capital markets (ECM) and Wall Street. The CFO has the greatest visibility when marketing the IPO and is a crucial component after the IPO as the company adjusts to public demands from functions such as investor relations. It is also important to select the right investment banking syndicate that can deliver the best performance for your IPO. While most ECM assignments these days have a “bake-off” where rival banks pitch their offering to the company and advertise themselves as the most capable player, it is important to conduct some research yourself before selecting the syndicate. Not only would this make the bake-off less make or break, it also grants you leverage when negotiating investment banking fees with the banks if you have built up a strong working relationship. Further to that point, having reputable analysts covering your company adds a feather to the cap when marketing an IPO. Once again, this is a reason to conduct your own research on the best banking syndicate to execute your deal. While the importance of sell-side research has declined in value, there are still compelling reasons to have knowledgeable analysts covering your stock, particularly if you anticipate yourself using other investment banking services from the same bank.

An upcoming primary issuance is also a tool to attract new Board members and talent to your company. Although providing stock options is difficult once an IPO is done since the options would then be priced in line with the market, the IPO itself is a powerful resource when attracting new talent to the company. It also helps to increase operating expenditures on the balance sheet which then translates into lower expectations on Wall Street for the initial quarter. Further to this point, the best managed firms on Wall Street are those that have learned to straddle performance with managing expectations. It is not uncommon for companies to reduce their model outputs by up to 20% in the days leading up to an IPO in order to lower investor expectations and prevent a decline in stock price once trading starts. A lower base allows for the target to be beat with a little more comfort, thus causing the stock to appreciate. Human nature dictates that we react to bad news with more gravity than good news. Therefore, an earnings miss versus its estimates would be more detrimental for the stock price than an earnings beat would be beneficial.

Lastly, it is important to have a balance sheet with good existing liquidity even before the IPO starts trading. While the main point of an IPO is to raise capital to manage liquidity and expansion, having an adequate position prior to the IPO would give investors a lot more confidence when investing in the company. Beginning the IPO in a position of strength allows for investors to make more assured, informed decisions that would ultimately work in the company’s favour. As a side note, one final tip that companies would do well to heed would be to not conceptualize any “creative metrics” in the IPO. When companies attempt to do this, it gives investors cause to believe that there may be something that the company is seeking to brush under the carpet, which therefore plays negatively in the price of the stock.

What should you possess to become a pro trader

Becoming a pro trader requires a proper trading style which matches your personality. You should know the risk tolerance level of yours. There are many traders in the market who do not have the risk tolerance ability so they tend to fail in the market. Why does it happen? Why can’t everyone succeed in trading? If you focus on the traders in the United Kingdom they are highly talented in trading. Are they born traders? They are not born traders so you should understand that none of us are born traders instead we develop as a successful trader. If you want to become a successful trader there are many things which you should possess.

Sometimes Forex turns out to be a casino because the traders gamble it. If the traders gamble the market it will eventually become a casino. So, bear in mind, in order to trade the market, you should consider the things a pro trader should possess. There are unique trading styles for different traders so you should find out your trading style and try to improve it even better. Some traders might feel comfortable in trading the Forex market through the price actions strategies and some other traders might like some other strategies so it differs. However, let us learn a few things a pro trader should possess.

The risk-management ability

You can trade Forex for the long term if you have a proper trading method and the success will be long-term. As naïve traders, you should understand that it is not easy to manage the risks if you don’t have the proper risk-management methods.  You should develop a method that is comfortable to trade. You should make sure try out the trading strategies on a demo account so you will be able to make sure whether it will work or not. Once you have developed a trading method, you should focus on the risk-management techniques. If you manage the risks in trades you will be able to cut the losses easily although it will take some time. If you are the naïve trader, you will find it a bit difficult. You should make sure to find the reliable trading platform because a platform is the basement of trading. If the basement is strong you will be able to succeed easily.

The diversification ability

What does diversification mean? Actually, it is when you spread the risks among different categories in the financial market. You should find the proper categories to diversify the risks.  As naïve traders, you should make sure to focus on the ways to diversify the risks because you are new to it and you have no experiences. If you want to become a successful trader you should focus on the risk diversification like a pro trader.

The ability to control emotions

The major mistake seen among even professional traders is not controlling the emotions. If you consider the naïve traders they never control the emotions. They become overexcited or anxious when they face losses and profits. But if a trader wants to become a pro he or she should focus on developing the trading mindset.

The professional traders were just once like you. Never think that they have born talent or some kind of Holy Grail in the market. They are the one who has worked smart all day long to learn more about this trading industry. Instead of trading, this market with other people trading system tries to create your trading system based on your personality. Never consider this market as a shortcut way to become rich. Think this industry as your business field and try to develop a balanced trading strategy so that you can deal with dynamic nature of this market. Work on the fundamental sections since it is one of the easiest ways to find the long-term existing trend. Focus on your trading discipline and be smart.

Secondary Income Sources For Your Spare Time

People all around the country are trying to find ways to invest their money in a meaningful way. Investment is the only reliable way for money to preserve its “buying power”. Buying power is the amount of goods or services a single dollar can buy. Because of inflation and other factors, a dollar can’t buy what it used to. This is why things were so much cheaper one hundred or fifty years ago than they are today.

Investing grows money faster than the rate of inflation, which is at about 2% at the time of this writing. Inflation mostly comes from the central bank printing new money. People have all kinds of feelings about this financial action, for good and for ill, but the result is indisputable. Our money is worth less over time.

This means that to preserve wealth, a person needs to find a way to grow their money at a rate higher than 2% per year. There are ways to put money away in a CD or special savings account, or to buy government treasuries, which will almost always keep money growing slightly faster than inflation would allow.

This all makes sense and is easy enough to explain to just about everybody. The problem is “just about everybody” does not have the extra money they would need to create an investment portfolio that will grow enough to build wealth or provide security for the future.

That’s why tools like spread betting are a must for investors who want to learn solid trading skills, get significant returns, but who don’t have lots of money to begin. Spread betting is different than stock and equities markets, because it doesn’t require the user to buy anything. Through spread betting brokers like ETX Capital, a new user can make informed decisions about the future prices of all kinds of financial entities and products. But rather than simply guessing, spread betting gives the user the opportunity to make real money.

To begin, a user will make an initial deposit. It doesn’t have to be very large – often less than the price of a single share of stock. This money can be used to create spread betting contracts. A contract like this will “lock in” the money for a period of time that the user chooses. The user also chooses from one of many stocks, bonds, Forex, markets, etc. that the brokerage firm makes available. The user tries to decide if the price is likely to be higher or lower than its current price, after the time runs out.

If all works out, and the price has changed according to prediction, the user will get his money back, plus extra money based on how much the price changed in the predicted direction. When the user gets to know specific financial entities, and about the many factors which cause them to gain and lose value, the user will start to be able to make these value predictions fairly consistently.

With experience and consistency comes returns that are fairly predictable. In this way, the user can start to save up money that can be used as income, savings, or fuel for further investments. The user also gets the benefit of learning skills that will translate to any other form of investment – specifically the ability to be able to understand why stocks and other equities change in value, and to be able to predict these value fluctuations ahead of time with some accuracy.

Spread betting users can begin with a demo account that lets them try their knowledge and intuition without risking money. Try it out yourself and you may decide it’s the perfect investment tool for you.

5 benefits of pay as you go car insurance

If you own a car but drive it infrequently, it can be frustrating if you still pay through the nose for car insurance as though you use your vehicle on a daily basis. Going without car insurance is not an option, as it is illegal to drive on UK roads without car insurance of at least third party level.

There remain ways of taking out insurance for short-term use; however, arranging this can be tricky if you are time-strapped. Fortunately, just the solution could be presented by pay as you go car insurance, where you would be charged per mile driven. Here are several benefits of this insurance.

There are potentially huge savings to be made

In setting up pay as you go car insurance, you would still need to agree to a flat monthly charge – roughly £10 to £30, reports The Guardian – to cover fire and theft risks. This fee is necessary because there remains a chance of your car catching fire or being stolen even if it is stationary.

Still, how much money you pay to actually drive the vehicle could be much reduced over time – as you would be paying strictly per journey. A rolling monthly contract would still be there; however, if you often commute to work by public transport and reserve the car for infrequent weekend and evening travel, your yearly savings on car insurance could reach £500.

Young and inexperienced drivers can especially save money

Young drivers with little driving experience can seriously struggle to find cheap car insurance. Insurers tend to deem them “high-risk” and so offer them relatively pricy premiums. This can seem unfair to young people who know that they don’t even drive very often anyway.

It’s too easily possible for these people to be quoted for a mileage beyond what they would actually clock up. If they spend much of their time at university, where they might live in a major city with abundant public transport routes enabling them to quickly reach their lectures with little fuss, their car might often be unused for several weeks or months at a time.

Nonetheless, they should watch out for minimum age requirements. These could be something like 21 – for many people, at the upper end of the university age range – in the case of some insurers.

Telematics technology can be surprisingly inexpensive

Pay as you go insurance isn’t something that has only recently come into being. In fact, a scheme like this was launched by Norwich Union – now called Aviva – as long ago as 2005. However, while premiums declined by roughly a third and the insurance was popular, the insurer had to pull the plug on it due to the prohibitively high cost of the black box technology that came with the service.

“I think we thought that more cars would start to feature built-in telematics, which didn’t really happen. Ultimately, we were just a bit ahead of our time,” an Aviva spokesman recently recalled. However, the same technology is much cheaper now – and this has helped to make pay as you go car insurance more financially palatable for insurers to offer.

The telematics kit can have an array of other benefits, too

If your car doesn’t currently include a telematics system, getting pay as you go car insurance is a great opportunity to receive one. The telematics kit – otherwise called a “black box” – would be installed in your car, where it would take only as much room as a smartphone.

The system can record how many miles you drive and, thus, enable your insurer to calculate how much to charge you for insurance. However, the technology can also monitor your vehicle’s health and locate the car should it be stolen, The Sun notes.

You can pay for your insurance conveniently quickly

The last decade has seen another major development in consumer technology that has driven an increase in the convenience of pay as you go insurance: the rising ubiquity of the smartphone.

Imagine wanting to borrow a car belonging to a friend or family member, but first needing to get your own car insurance to meet that particular legal requirement. With pay as you go car insurance, it would be possible for you to, before getting into the car, log into the insurer’s app on your smartphone and, through this app, buy the insurance you need just for the short-term journey you seek to make.

Being able to do all of this after simply fishing your trusty smartphone out of your pocket is amazingly convenient – and undoubtedly helps bring car insurance into the twenty-first century. You can further boost the cost-effectiveness by taking out payasyougo car insurance through a broker like Call Wiser, which can offer you a quote by phone or online.

The 2017 budget and its effect on the UK property industry

It would be fair to say that the biannual budget announcements can have a monumental effect on the UK property industry. Granted, there are occasions where the impact is more than others, but overall everyone from landlords, homeowners and prospective home buyers tend to be affected in one way or another.

The recent budget announcement focussed mainly on one issue when it came to property; stamp duty. In short, it’s being completely eradicated for some buyers, although whether or not it will impact house sales and cause a surge of sellers turning to a national home buyer is a matter still for debate.

Bearing this in mind, let’s take a look at the topic of stamp duty and just who the changes are going to affect.

What is changing about stamp duty?

Prior to the new budget, stamp duty had to be paid on all properties used for residential purposes that cost more than £125,000. The rate started at 2% of the price of the property, but gradually rose along with the value.

Now, first-time buyers are going to benefit enormously from the change. Any first-time buyer purchasing a home with a value of up to £300,000 will not have to pay any stamp duty. Government figures show that 80% of first-time buyers will no longer pay any stamp duty.

What is the knock-on effect of the change?

While first-time buyers seem to be the group who are mainly benefiting through this change – that’s not the only group.

The Office for Budget Responsibility has stated that current homeowners will be the group who benefits the most. This is because house prices are likely to increase as a result of the change. Figures suggest that prices could rise as much as 0.3% in the first year.

In terms of whether or not the change will be sufficient to persuade more people to buy their first home, the evidence so far suggests it might not be as clear-cut as that. It’s thought that the change will prompt around 3,500 more first-time buyers to make their purchase. This needs to be put in perspective when the total change is costing the Treasury over £3bn over the next five years.

How is it going to affect each area of the country?

Unsurprisingly, different areas of the country are going to be affected in different ways. It’s common knowledge that prices differ between regions, and this affects stamp duty enormously. For example, if we were to hone in the North of the country, it has been revealed that the average amount of Stamp Duty paid is less than £12 – simply because so many properties fall under the £125,000 mark. For this reason, this area of the country isn’t going to benefit by huge amounts.

Instead, it’s the South which is mainly affected. It’s here in which the higher property values are based, meaning that some first-time buyers could benefit to the tune of thousands of pounds.

99% of Scotland’s October Electricity Demand Met By Wind

Almost all of Scotland’s domestic electricity requirements could have potentially been supplied by wind turbines, according to data from Weather Energy.

Scotland experienced strong winds last month, with Hurricane Ophelia producing more than a week of heavy wind activity over the United Kingdom. The storm was enough to produce more than 1.7 million megawatt hours of electricity.

This amount almost completely meets the average home, industrial and business electricity requirements of Scotland, which consumed approximately 1.75 million megawatt hours of electricity throughout the month of October.

Proponents of wind turbines say the incredible performance of Scotland’s wind electricity tech proves that wind turbines could be the key to making Scotland a green energy powerhouse in the future.

Acting head of policy for WWF Scotland Gina Hanrahan stated that October was a “spectacular month for wind energy” in Scotland, noting that the country’s infrastructure had “coped well with the windy weather, which provided enough to power nearly twice the number of households in Scotland.”

However, one difficulty faced by Scotland is the unpredictability of weather patterns, as well as the need to store the electricity produced by wind turbines to prevent of it from being wasted due to inefficiencies.

Renewable energy experts have proposed battery storage, which would let the Scottish power grid store some of the electricity produced during periods of heavy winds. The government has already introduced limited battery storage at its new Hywind Scotland floating wind farm.

As discussed in a Huffington Post article, the current storage project is relatively small in size — it has a total capacity equivalent to approximately two million iPhones — but marks some of the first steps towards a large-scale energy storage solution in Scotland.

Until then, the country’s extensive network of wind turbines will likely have other opportunities to show off its electricity generating potential.

Central Banks And Cryptocurrencies: A Proper Analysis

Cryptocurrencies are the new hot topic, many persons talk about them and more than one pull a nice profit from trading them.

It all started with Bitcoin, and now there are tons of new cryptocurrencies like Ethereum, NEO, Waves, ARK, Bitcoin Cash (a bifurcation of the original BTC), etc.

However, why do they have to do anything with central banks and our current monetary system? Cryptocurrencies have appeared for a reason: they want to disrupt the current system and decentralize economy.

This article will offer you a brief yet concise analysis of cryptocurrencies and central banks, so you can see why they represent a problem for the other, and how they may take advantage of them as well.

How Does Banking Work?

Before we move any further, it is useful for the purpose of this article to check how banking works in case you do not know it already.

Essentially banks are responsible for creating money, but most of the time they do it by lending money and charging an interest on it. That is how new money is born, and in reality, it is created out of nothing.

What they bring their customers are liabilities that they can spend, and that is how they have managed to create money. Those numbers you see in your savings or checking account are liabilities, and strictly speaking, is not real money.

Therefore, banks are interested in the dematerialization of money because it benefits them. Although, what does not benefit them is decentralization, because it would take the power away from them and put it on the hands of people.

If you wish to understand more about how banks work, in a more exquisite detail, then you should visit MarketReview. They have a complete section dedicated to this topic.

Dematerializing Money: A Dream Come True

What central banks want are cryptocurrencies they can control, and therefore, are not decentralized. However, why? Because it allows them to solve the following problems:

  1. Easy and fast distribution of money
  2. Reducing costs of printing money
  3. Keeping theft at a minimum

By fully digitalizing money, and therefore dematerializing it, banks can solve all of these problems. Creating digital money has a cost that is practically zero. Moreover, it is very easy to distribute and much cheaper, and finally, it will keep theft at a minimum by using private keys and other security measures.

Therefore, as you can see, central banks are not against cryptocurrencies, what they stand against is decentralization, because it is not beneficial for them.

Furthermore, by centralizing cryptocurrencies they take the anonymous factor away, which is one of their most interesting features.

More Problems Than Benefits:

That is why we need to keep central banks away from taking power on cryptocurrencies and installing centralization, because if it ever happens, then it will bring more problems than benefits.

First off, by taking away anonymity, people will be instantly subjected to taxation. That is, for starters, one of the major disadvantages people will face if this ever happens.

Furthermore, it is more than likely that will keep doing the same they do as of now: keep printing money and keep the supply increasing. We all know why it is bad, because it raises inflation and therefore our money is worth less.

Overall, it is easy to see why central banks are enemies to cryptocurrencies, because they represent everything they stand against. Therefore, it is mandatory to keep them away, because if they force us all to their cryptocurrencies, then the problems will largely surpass the possible benefits.

Final Words:

We have arrived to the end of this article. As you can see central banks are very interested in the technology behind cryptocurrencies, but of course, for their own purposes. We need to keep pushing for decentralization, because it is the unique way to take down this monopoly and finally bring power back to the people.