On Feb 28, Bitcoin was up as much as 15% in just 24 hours. Sanctions against Russia for its invasion of Ukraine are likely driving Russian citizens to buy crypto as a means to survive the current conflict, which has already caused the Russian ruble to crash over 30%.
Bans have been enacted from global payments providers Mastercard, Visa, PayPal, and international payments network SWIFT, all of which have suspended services in Russia in a bid to quell its participation in the global economy and show their solidarity and support with the people of Ukraine.
The inherently decentralized and secure nature of bitcoin and other cryptocurrencies has been an obvious alternative for those living under the recently restrictive banking conditions. And while some of the largest cryptocurrency companies and exchanges in the world have been urged to cease operation in Russia, Binance and Coinbase have so far resisted the offers.
Cryptocurrency is praised for providing a lifeline for countries in crisis and its ability to stay stable during times when the stock market may plunge, yet even Bitcoin has been impacted by the crisis in Ukraine.
As the volatile market continues to spark fear amidst risk-heavy portfolios, investors have been searching for ways to hedge against inflation and pivot to low-risk investments. The current investment environment requires skills and confidence to generate decent returns which will remain stable over the long term.
This is especially true if investment strategies are solely based on traditional portfolios that have performed well in the past but are now facing an uncertain economic climate. It’s not only the current political situation in Ukraine that will impact markets, though. External factors will always continue to impact the stock market. For newcomers to the investing world, this can be a deterrent to start dipping their toes into the world of trading. Combined with the volatile territory, not having much experience or education about the market can set new traders up for failure and place them at high risk for loss.
This is why CoinFantasy created the world’s first “fantasy gaming platform for crypto markets”, a platform that allows people to build a crypto portfolio with low financial risk. Whether a bull or bear market, the platform allows seasoned traders and newcomers alike to build a crypto portfolio within CoinFantasy with a zero loss gameplay whereby players experience zero loss-no matter if they win or lose.
So how does it work? Once users have signed up to play, they join tournaments where they pick a portfolio of tokens based on performance. Due to its zero-risk safety net, the environment is the perfect introduction to the crypto market for newcomers trading crypto.
“In the conditions we're facing like now, when the market moves sideways, games like this can help new entrants in the space explore charts and learn how to create a robust portfolio without actually losing funds,” a spokesperson for CoinFantasy explained to Luna PR.
By gamifying the crypto experience, CoinFantasy has removed barriers for those wanting to get started in the crypto game, while also providing an engaging and entertaining experience and allowing new traders & investors to navigate a volatile market at zero loss. The company is dedicated to helping as many people as possible become educated about cryptocurrency and becoming proficient about building a portfolio and trading, and has a goal to bring the “next billion people to crypto”.
