Cryptocurrency trading could be the best choice no matter what kind of trader you are. Why so? Digital currencies take place right in between stock trading and traditional currency trading.
From one side, most virtual coins represent advanced high-tech and Blockchain firms. On another side, the crypto market is opened 24/7 and is pretty much similar to fiat currency trading (Euro or Dollar).
The major digital asset Bitcoin is being adopted by every industry which makes BTC trading significantly rewarding.
So how did it all start?
Back in 2009 when Bitcoin was launched trading less than $1 no one really believed or understood the concept. With time the idea behind Bitcoin became the world-changing technology just like smart computing at its time. A virtual currency that is completely anonymous, not served by third centralized parties, and can be transferred to any place of the world just in minutes.
But only 8 years later Bitcoin really has been globally recognized when in 2017 there was a massive launch of different altcoins and ICO boom.
We all remember 2017 as a Blockchain bubble year. Same as the internet bubble 2000s called the "Dotcom bubble". 2017 set off intensive crypto trading that doesn't stop, but only gaining momentum. High-tech firms easily raised capital just by launching their own virtual coins and sold them over the counter to investors. Successful companies listed their coins on cryptocurrency exchanges.
Ethereum is the second-largest cryptocurrency in the world and an open-source network for dAAPs (decentralized applications). Any programmer can write code based on Ethereum.
Actually, almost every digital coin launched after Ethereum is based on this code.
Digital assets day trading has boomed in 2020. Day traders find high volatility and trading volume of virtual currencies just a perfect combo. Cryptocurrency trading is considered to be rather a speculation than owning coins, thus forex and CFDs brokers are usually more convenient than purchasing currency in the crypto exchange.
How to accept Bitcoin in your business
If you always thought that Bitcoin trading is too complicated and requires a lot of time and money, this message will change your perception. The real value of BTC is purely dependent on its integration into markets, public interest, performance compared to other digital assets, and...traders.
Besides, transaction fees are much lower than credit cards.
Day traders have to keep in mind that BTC price reacts to the news events just in seconds, which has a huge impact on traders' profits and losses. News such as government regulations or the hacking of a crypto exchange comes through, price is crashing.
How to get an advantage over the market changes
In case well-known enterprises announce the adoption of Bitcoin or other cryptocurrencies into their business, prices can surge in a matter of minutes. If you keep yourself updated on the latest news and can react to them immediately, you have all the advantages over the market.