Currencies / Bitcoin
Jul 07, 2021 – 03:37 PM GMT
Investors are concerned about Bitcoin’s impact on the environment and are looking to invest in assets with low or negative carbon footprints, in short: ESG (Environmental, Social, Governance ) sustainable investments.
Just recently, Elon Musk’s tweets about Bitcoin’s mining technology needing to reduce the carbon footprint caused a huge uproar and sharp decline in the price of Bitcoin.
It seems the cryptocurrency industry is forced to explore alternative methods to reduce its carbon footprint drastically.
How does ESG affect crypto traders?
The good news is that Bitcoin is not the only coin available for trading. There are a plethora of other coins that consume considerably less energy than Bitcoin.
Take Cardano, for example; it is a digital currency that is far more sustainable than Bitcoin. According to its developers, Cardano only consumes 6GWh of energy. In addition, 1000 Cardano transactions can be achieved in 1 second, compared to Bitcoin’s seven transactions.
Cryptocurrency brokers like MrGuru offer many cryptocurrencies to trade, among which is the Cardano coin. In addition, Mr Guru offers crypto trading on a WebTrader platform with quick order execution functionality. You do not have to download the software; it’s accessible through your browser from any mobile device.
MrGuru’s other benefits include a dedicated support team to assist customer’s queries and guide them through their online trading. They also accept multiple forms of payment such as wire transfers, credit/debit cards, and e-wallets, thereby providing fast deposit and withdrawal methods. Another stand out feature is monitoring trade activities for any suspicious behaviour ensuring your account remains secure.
The crypto industry is actively implementing methods to reduce its carbon footprint by developing greener coins. However, it still does not replace Bitcoin’s energy load and finding ways to minimize this is more important than ever. MrGuru’s broad offering of more environmentally friendly crypto is a move in the right direction. It is our responsibility to join brokers like these who promote sustainable investments.
By S N Chatterjee
Copyright 2021 © S N Chatterjee – All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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