A few years ago, everyone started talking about cryptocurrencies. Many did not quite imagine what it was – the mechanism of their functioning remained unclear. In fact, this is a complex mechanism in which the creation of a digital asset occurs during mining – the solution of certain tasks (hashes) by the program. A certain amount is charged in bitcoins or similar coins for each hash.
But you can earn these non-standard currencies not only with the help of mining. They are also available for trading – on crypto exchanges and with ordinary brokers. Why are they worth trading and the relevance of crypto coins is not lost over time? Find out by yourself with biticodes
Why the crypto market is promising for trading
These currencies have several advantages over the standard foreign exchange market. Firstly, they are new assets, so technical analysis works very accurately on them. On ordinary fiat pairs, the influence of news and other distortions is already noticeable – crypto assets are the most “understandable” in this regard.
Secondly, the popularity of digital assets is growing. They are allowed as a means of payment in many countries, and now they can be used to purchase various goods. But this is not possible – the crypto coin market is very volatile. And for those who keep them in their wallets, this can be a big disadvantage. But for a trader, this is a plus: you can make good money on volatility.
Here’s why it’s worth trading cryptocurrencies:
their popularity will only grow in the future;
there are great prospects for long-term transactions;
they can not only be traded but also earned on various services and only then sold on exchanges;
they are also available on regular forex projects.
There are also many ways to trade cryptocurrencies without resorting to direct purchase, as on the corresponding exchanges: for example, you can find out if a given cryptocurrency has an ETF (a special tool for trading without buying the asset itself) and use it already.
Where to work with crypto assets
This can be done on various platforms: from professional crypto exchanges known all over the world to ordinary forex companies. The main part of the activity of such brokers (who work with Forex) is currency trading, and their functionality is mainly designed for this. These companies do not take deals directly to the market – but DEX.AG can.
It is also more convenient to trade cryptocurrencies with forex brokers because the platforms of these companies are usually easier to operate and install. For example, it can be the popular MetaTrader 4, which, with relative ease of use, has all the necessary functions for trading in any financial market, including this one.
Do not forget that the broker must be reliable and provide users with up-to-date quotes taken from an official source. Always check company reviews from real users. It is advisable to use the services of brokers who have been working for more than one year. Always pay attention to trading conditions.