Cryptocurrency trading has become a very popular way to make money. This is a way to maneuver between the ups and downs of cryptocurrency prices and make a profit. Crypto rates are volatile, and they change daily. They are not controlled by central banks or the government. So cryptocurrency price today is always different from what it was yesterday. Using those fluctuations smartly allows for generating income in Cryptocurrency trading.
The cryptocurrency market offers a number of trading instruments, including.:
- Futures trading: speculating on the future price of an asset.
- Margin – trading with borrowed funds (leverage).
- P2P exchange
- Spot market trading
- And others.
Some cryptocurrency trading strategies involve buying and selling cryptocurrencies on a daily basis, while others involve buying and holding coins for a few weeks. Depending on the trader’s objectives, one chooses:
- Day trading
- Swing strategy
- Buy and hold
What Affects Cryptocurrency Exchange Rate?
The factors that affect cryptocurrency market prices are:
- General market conditions.
- Investor sentiment.
- The global economy.
- Hype, news.
- Supply and demand.
What is the Best Place to Buy Cryptocurrency?
The WhiteBIT cryptocurrency trading platform is a young but popular service for trading and investing. It offers up-to-date market rates and low transaction fees.
You can buy cryptocurrency with fiat money by linking a debit card to your account. WhiteBIT is an exchange and a community of people dedicated to spreading the use of cryptocurrencies worldwide. It works with many promising projects, issues native WBT tokens and offers an introduction program for community members.
WhiteBIT also has a separate resource, the WhiteBIT Blog, which contains useful overviews on various cryptocurrencies, project descriptions and detailed instructions on cryptocurrency trading. The exchange offers a passive income opportunity called Smart Staking for those not yet ready to start trading. Staking means storing coins in the exchange’s wallet and receiving income in the form of additional coins as interest. Learn more about staking on the WhiteBIT Blog.
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