Since the start of the year 2017, we have an enormous rise in the cryptocurrency exchange. Cryptocurrencies have been here for quite a long time and sudden rise has been due to the high exposure.
But, how can you choose the right platform or trading broker to start your cryptocurrency? Is there something that you should know before you start the currency trading? Yes!!! Very much, there are quite many things that you must know about cryptocurrency before you start into trading. This has been taken straight from the source and will give you complete detail about getting into the trading and investing of cryptocurrency.
Cryptocurrencies never fall in the bracket of regular stock exchange:
Cryptocurrency is never traded on the same market as stocks. They are never available here. There are only a few exchanges that deal with these, apart from that there are multiple trading platforms that help and assist you in trading using these currencies. The most used and on the market is the bitcoin and Ethereum currency. The rules and policies and methods would be entirely different, and hence you must read about them before you head start.
The only stock exchange available to buy or invest stocks through the stock exchange and has the cryptocurrency as its primary asset is the GBTC. It’s like investing in bitcoin indirectly, without actually holding or buying it.
The market is highly volatile
Yes!! This market is highly volatile than the regular stock market. This is due to a lot of factors, like the huge demand and high exposure. The currencies were only revealed several years back and with increased media exposure in people and the knowledge of digital technology, the bitcoin, and other digital currencies have taken prominence. With increasing number of people participating and want to have a hand on the digital currency, its easier to access and the procedure to participate is no rocket science!
It’s a 24-hour market:
Unlike the regular market, this one is open 24 hours a day. Due to the participation in many countries across the globe and varied time difference, this market is open all round the clock. It gives the investor or the trader an opportunity to gain profits beyond the cyclical moves of the market. It’s like you can make money, while the other part of the globe is sleeping, as the number of participants would be relatively low. So the opportunities are equal and depend on your aggression to make more money.