Why trade cryptocurrencies?

sha67 (30)in #cryptocurrency • 2 years ago

Why would you want to trade cryptocurrencies when they appear to have more drawbacks than advantages compared to the stock market?

Here are a few advantages, though.

Continuous trading. The cryptocurrency market never shuts down, unlike the stock market, which opens and closes at set hours. You can trade cryptocurrencies around-the-clock, 365 days a year, or even use trading bots to let your trades run continuously.
Market turbulence This can be viewed as both a drawback and a strength. Let's talk about the positive now. Investors do not profit from market volatility; traders do. As a trader, you will have better trading opportunities on the cryptocurrency market as opposed to the stock market because it has this in spades.
Discretion and anonymity. Trading cryptocurrencies is great if you value your right to privacy. You can use decentralised cryptocurrency exchanges if you engage in cryptocurrency trading. These let you trade digital assets held in self-custody (when you are the only one with access to them) without having to provide your identity online. There are centralised trading platforms available, of course, if you don't mind disclosing personal information and having a third party store your digital assets.
The abundance of resources. Even though it is still relatively new, the cryptocurrency market has developed so quickly that traders now have access to stock market products like futures, options, leveraged tokens, swaps, and CFDs (contracts for difference). Look no further if you want to go long or short, "call" it or "put" it. Every derivative type that is currently offered on the stock market has already been transferred. If not, it will happen soon.
Simple account creation There is a low entry barrier to cryptocurrency. An exchange account can be easily opened, and you can begin trading right away. That is how quickly you can board.