Truth about cryptocurrency trading
By now, you have probably heard about cryptocurrency trading from both sides. On the one hand, it seems to be a winning lottery when you invest in new coins and see them growing day by day, as well as your profit. On the other, the news about coins that have disappeared or drastically dropped down leave a room for doubt.
The market of digital coins grows exponentially and, as of today, the size of capitalization has reached $216 billion. According to CB Insights report, over the past year blockchain projects raised more than $18 billion through ICOs (initial coin offerings) only, not to mention venture fundings.
Let’s clear up all the pros and cons of trading digital currency and explain why you would want to keep reading about altcoins and consider diving deep into the world of trading.
Benefits of cryptocurrency trading
With the right tools and skills, it is possible to make a fortune. You can find and learn from tones of insights about tech analysis, margin trading, charts, and market behavior.
Even being far from the finance and the Wall Street, anyone from anywhere can use the unlimited power of Google and learn from numerous courses and blogs about trading, digital currencies, market trends, and news. Moreover, non-techies can reap a benefit from user-friendly trading platforms that offer an easy flow of buying and exchanging bitcoins.
If compared to traditional bank accounts, bitcoin wallets are highly secured and protected. If you follow all recommendations to keep your passwords and wallets safe, there is literally no room for fraud.
Digital currency can be exchanged, converted, transferred or stored. Every operation is processed times faster than regular bank transfers. Also, you can trade any amount of money, though we do not recommend to bet all of your savings.
Risks of crypto trading
- Volatile and unpredictable market
Cryptocurrency market is relatively new and developing. Aside from technical background, there is much more to learn if one wants to make money on buying and selling digital currency. For the vast majority of newcomers, the future of coins is blurred and unpredictable. However, we know that lots of enthusiasts raise their investments and know when to buy and sell. And to top it all, banks and financial institutions of different countries proceed the legalization of digital assets, which means that the market capitalization will grow.
- Technically challenging industry
Following the previous point, it is reasonable to mention that cryptocurrency trading requires deep knowledge in technical aspects of the market. Nontechnical investors will face lots of complicated obstacles and, consequently, risks, if they don’t do their homework. It is critically important to keep up with the market news and changes, as well as understand the reasons of prices swings and hard forks.
- Numerous coins
Now, you can find 1818 coins enlisted on CoinMarketCap. Which of them could be a profit and which will disappear, how to identify the most valuable assets — if you answer those question right, you can make a fortune. If not, you risk losing your money fast.
Not all financial regulators and governmental institutions have embraced the idea of cryptocurrency becoming a fully legal asset, and regulations towards blockchain projects are in its infancy. Nevertheless, many investment leaders and central banks approve bitcoin, which makes cryptocurrency a secure alternative for trading. For wise investors, there are plenty of options to make money while the new trading market is growing. When you know when and what to trade, you reduce the risk to the lowest notch.
Albeit trading consists of ups and downs, Cryptagio strives to provide the best crypto trading experience accelerating and simplifying the exchange process. We perform a solid and complete analysis of existing coins to give our traders an opportunity to work only with valid assets. Cryptagio has an intuitive interface and offers a simple and secure way to buy and sell Bitcoin and other cryptocurrencies so that it is easy to use for both newbies and professional traders. To help you even more, our support team is ready to assist you 24/7. And the cherry on top — at Cryptagio, you trade with a near-zero fee.
Visit our official website for more information — Cryptagio.
This article does not contain any investment recommendations or advice and serves solely an informative purpose.