all about cryptocurrency trading
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All about cryptocurrency trading
Cryptocurrencies have the power to change our lives forever. They can help you take back control of your money and your information. Some people will ignore them and hope they go away energy casino. Others will join the party. Which will you be?
While fundamental analysis evaluates long-term potential, technical analysis helps you time your trades in the short term. Crypto markets are highly volatile, and understanding price movements can make a significant difference.
All about cryptocurrency trading
It entirely depends on the trader profile. Do you want to be the kind of trader that prefers to get in and out of trading positions multiple times a day (i.e., day trader)? Then crypto technical analysis will be your best friend. Instead, do you prefer to research and make informed bets every time (i.e., swing trader)? Then—a mix of both is the way to go.
Some whales operate as “market makers” by placing buy and sell orders to keep the market active and make money. Traders often try to follow these experts by guessing what they’ll do next. Whales are much more common in cryptocurrency trading compared to stocks, as these markets are much smaller and easier to make an impact on with significant funds.
Crypto CFD trading involves speculating on the price movements of cryptocurrencies without actually owning the underlying asset. In this case, traders enter a contract with a broker to exchange the difference in price of the cryptocurrency between the time they open and close the trade. This means you can profit solely from the price movements of cryptocurrencies, without having to worry about other issues associated with ownership of an asset, such as security, storage, and access.
All you need to know about cryptocurrency
The newness of cryptocurrencies makes their risks not easily understood, which translates into a poor understanding of how cryptocurrency values correlate with the values of other assets. Not enough historical data exists to confidently predict how the prices of cryptocurrencies fluctuate when the prices of other assets change.
By design, the blockchain becomes increasingly tamper-proof; a hacker today would need computing power equivalent to the majority of the computing power on the cryptocurrency network to successfully alter transactions.
First, you need a cryptocurrency wallet, which is a digital wallet similar to a digital bank account, allowing you to receive, send and store cryptocurrencies. There are various wallets to choose from: