Introduction to cryptocurrency trading : Homework
Assalamu Alaikum
Today is Monday.
February 15, 2021
@art-bangladesh 🔷Form Bangladesh🇧🇩
Hi friends, how are you all? I hope you are well
Hope you all are well. This is my first homework. Thanks to @steemitblog for this great initiative. Hope you like it.
✔Why you should consider trading cryptocurrency:
- Trading cryptocurrencies can be a highly profitable experience. Due to the speculative nature of the asset class, the price of digital assets can be extremely volatile over time and fluctuate widely. It is not uncommon for cryptocurrencies to rise and fall by more than 20% in a single day or week.
✔High profit potential
- Traders choose cryptocurrencies because of the higher volatility and the increased potential for successful trading.
✔The most popular digital asset
- PrimeXBT offers Bitcoin, Ethereum, Ripple, EOS and Litcoin - the most popular and liquid cryptocurrencies on the market.
✔Secure trading
- By using protection orders traders can protect their position against extreme market volatility and gain peace of mind while trading on a safe platform.
✔Competitive fee schedule
- Enjoy some of the best trading conditions on the market with tight spreads and low fees on all cryptocurrency trades.
✔Intuitive, user-friendly trading
- Customize your trading interface with features like multi-monitor functionality, a variety of professional business tools and 24/7 customer service.
✔Advanced charting tools
- Experience trading skills from a variety of chart tips, over 50+ trading indicators and live charts.
✔How does cryptocurrency margin trading work?
- When traders decide to use margin trading for cryptocurrency they will basically take funds from the platform to increase the buying or selling power of their business. Margin trading means that traders only have to deposit a small percentage of the total value of the position.
Traders will be able to trade in locations larger than their accumulated capital, to maximize profits. Note, this margin trading can increase your potential profits - but also your potential losses.
🔵Advantages of cryptocurrency trading with leverage
✔Profitable profit
- Leveraged margin trading allows you to earn higher profits if the position goes in the right direction. The risk, however, is that if the trade fails, the amount of loss can be further increased.
✔To make a profit from market collapse.
- Leverage traders can profit from a declining market by opening a short position, which means they are willing to sell higher and buy at a lower cost.
If margin trading also takes a position against the business, it brings inherent risk. You should never use 100% leverage and never invest more than you can lose.I have collected some information from here:Source
In creating this post, I have also gained a lot of new information and knowledge. A really nice initiative.