UK based money app Ziglu is advising cryptocurrency investors to plan for the long-term as valuations recover across the market following the recent sell-off.
Bitcoin prices have climbed more than 40% in the past month with other cryptocurrencies including Ether, Litecoin and Dogecoin also recording strong gains, while remaining on the whole well below previous record highs.
Ziglu, which offers current account services and also enables customers to buy and sell a range of cryptocurrencies, believes the recovery is a good time for investors to reassess their holdings and plan for the long-term by focusing on regular monthly investment in the market.
During the recent crypto price slump around two-thirds (65%) of Ziglu customers were buying cryptocurrency taking advantage of the price fall while 35% were selling. Earlier research from Ziglu shows around two-fifths (39%) of crypto investors took profits on their holdings in the run-up to the sell-off which started in April this year.
Mark Hipperson, Founder and CEO of Ziglu said: “We believe that cryptocurrencies should be a long-term investment and encourage our customers to invest little and often, as that is a proven method for smoothing out volatility in the market and to maximise returns.
“The recent recovery following the drop in prices earlier in the year highlights how there is always going to be volatility in the crypto market, with some peaks and troughs. Regular investing will enable investors to average out the impact over time.”
Analysis shows that someone investing £50 a month into Bitcoin over the past year would have seen the growth of 127.58% on their original investment of £600 which would now be worth £1,365.
Ziglu offers clients access to Bitcoin, Bitcoin Cash, Cardano, Chainlink, Dogecoin, Ether, Litecoin, Polkadot, Solano and Tezos. With one flat fee of 1.25% and no hidden charges, Ziglu is regulated by the Financial Conduct Authority and fully authorised as an Electronic Money Institution. It is also one of the world’s first cryptocurrency platforms to comply with the Anti Money Laundering and Counter-Terrorist Financing standards set by the Financial Action Task Force (FATF), implemented in over 200 jurisdictions. As with any investment, capital is at risk.
