Cryptocurrency is a popular option for trading and investment. Since crypto rates are volatile and changeable, it became possible to profit from this phenomenon – buying crypto at lower prices and then selling them when the price grows. It is called “trading”. However, trading is a much broader concept. It implies not only making money on the growing market but also the opportunities to make a profit when the market drops. For example, futures trading involves buying derivative contracts for purchasing or selling an asset in the future. It implies two scenarios: the rate drops or increases. And depending on it, a trader picks whether to go “short” or “long”.
Cryptocurrency investment and trading vary depending on the period an investor holds crypto assets. Some trading strategies (day trading, scalping) are implemented in the short term, and trade may last even a couple of munites. The “Buy and hold” strategy means holding assets for a few weeks to a few years. It l depends on how you see the future market movements based on technical analysis and crypto charts.
Popular Assets and Exchanges
The crypto market totals over 12 000 crypto assets. The most popular digital assets in summer 2022:
- Bitcoin
- Solana
- Cardano
- Ripple
- Ethereum
- Polkadot
- and many others.
All of them are traded on the largest crypto exchanges, such as Binance, WhiteBIT, Coinbase, etc. The ETH BTC pair is one of the most often traded. To know its current price, you can enter any of the listed exchanges and pick Bitcoin and Ethereum in a crypto calculator, which is meant to help traders understand how much it will cost to exchange one asset for another.
WhiteBIT is the largest crypto exchange legally operating in Europe. The platform offers a convenient interface and easy-to-handle tools for trading, passive income options, demo trading, high transaction speed, and low fees (0,10%).
WhiteBIT focuses on clients’ security and has a good reputation and reviews on the Internet.
