Financing had reached its pinnacle ever since Cryptocurrencies appeared in 2017. The fact that thousands of holders got their percent return in the last year only undermines this statement. Successful cryptocurrency trading and experimenting with different methods for over a year gave us an insight into cryptocurrency world. This allowed us to provide you with a brief overlook of what are the best features of cryptocurrency trading.
Non-stop operating markets
One way in which Cryptocurrencies differ from the ordinary market is in their availability aspect. It’s quite known that the US stock market operates from 9:30 AM to 4:00 PM (from Monday to Friday). Even though this type of availability is pretty common for various marketplaces, it’s definitely limiting. Cryptocurrencies, on the other hand, allow you to trade non-stop. What this means is that trading is open even to daytime workers (people who have a daytime job). This gives you the ability to trade during weekends as well as during the night.
The Exclusion of Pattern Day Trading Rule
For those of you who are not well acquainted with the pattern day trader rule, it basically states that certain people can experience limitations when trading. They are limited only to three trades per week (one trade equals to either buying or selling). It applies to those people who are using U.S. brokers and do not have more than $25,000.
With cryptocurrencies, however, it’s a whole different story. Not only is this law completely eliminated but you also have a chance to open a smaller account ($200 of worth, for example) and trade as much as you like. This rapidly increases the growth of your account and gives you an opportunity to grow within the platform, provided that you use good strategy.
Increased Levels of Volatility
Nowadays, Cryptocurrencies have more volatility than most stocks on a daily basis. This is an efficient way of maintaining your trading activities if you are a short-term trader. Some cryptocurrencies (such as Ethereum) habitually go up from 5% to 10%. You can make excellent progress in the cryptocurrency market if you know what you’re looking for.
Simplified Equipment Usage
Another positive trait about cryptocurrencies is that there’s no need to use multiple devices. You don’t need to use several monitors at once to constantly keep an eye on whether the value of cryptocurrency will go up or down. Trading can be done via a mobile device by using an app which is specifically designed for it. An example of this would be Binance’s bitcoin and altcoin trading platform and their application. Everything’s at the tip of your fingers and trading is as easy as it gets. This appropriates cryptocurrency trading even to those who are just getting into it.
How to Start Your Cryptocurrency Banking
If you are thinking about learning the art of cryptocurrency thinking, there might be some beginner tutorials and courses. One of such is definitely Bitcoin Bootcamp’s Cryptocurrency Mastery course. It thoroughly covers everything that you need to know (from the sheer basics all the way to advanced points). Some of its features cover the following steps:
- How to set up your wallet, account and prepare them for trading
- Which strategies are the best to use in order to increase your chances of making a profit from your trades
- Which are the best exchanges as well as brokers to do trading with
- How to trade Altcoins, Bitcoins, etc.
- How to deal with and/or avoid the risk
- What trading psychology to include
These are just some important points, there’s so much more to learn which simply can’t be listed here.