Cryptocurrency trading volumes have risen over the past decade. They have evolved from time to time to close any gaps that were present in the infant stages and keep evolving with the advancement of technology. The main
1. Market access
Cryptocurrency trading allows you access to a bigger market with small capital investment. You can trade with people in markets that are inaccessible in the conventional trading market.
2. Faster settlement
Trades can be settled within a few seconds and converted to liquid cash if needed.
3. Decentralized trading
There is no central authority that regulates cryptocurrency trading. Every transaction is validated by multiple computers on the network called nodes. Thus, your trade data can’t be altered.
4. Full-time trading
You get access to the cryptocurrency trading network twenty-four hours a day and seven days a week, unlike the conventional stock market which has fixed trading hours and holidays.
5. Leverage facility
You can always leverage money from the cryptocurrency exchange along with your
investment to increase your profits or make up for a shortage of capital amount. The amount of leverage offered would depend from exchange to exchange.
Being digital in nature, cryptocurrencies can be traded across your borders without worries about currency restrictions as in the case of fiat currencies like USD, EUR, etc.
7. Trade Security
The cryptography security deployed in the trading of cryptocurrencies ensures that your personal information is not seen by anyone.
8. Cryptocurrency Choices
You can choose from any of the many cryptocurrencies available to trade such as Bitcoin, Ether, Ripple, Litecoin, etc.
Bob is a software professional. He has been looking to make extra money to enhance his savings. His colleague Amanda happened to tell him about cryptocurrency trading during their lunch break. This made Bob curious and so he researched more about it on the weekend following which he decided to start trading after opening an account. Likewise, he chose to trade in Litecoin, a well-known cryptocurrency. Bob bought 10 LTC for $400 i.e. $40 per bitcoin. After a few hours, the bitcoin value had gone up to $44 per LTC. He decided to sell all his bitcoin holdings for $440 i.e. $44 per LTC, thus earning a profit of $40.
That was a simple, yet good beginning for Bob.