Did you know that until 2022, around 83% of cryptocurrency investors had only been investing over the past couple of years? A survey from GOBankingRates revealed this stat. The point to note here is how cryptocurrency has seen massive popularity over the recent years. There are a number of reasons why crypto trading has suddenly become popular. In the present day, even the most conservative investment firms have set up exchanges for crypto trading.
- The fact that cryptocurrency is decentralised and has performed steadily despite several lags attracts people further.
- Crypto coins have a long way to go before becoming legal tender across economies. However, governments have gradually toyed with the idea of digital currency recently.
- Crypto wallets, brokerages that offer crypto trading platforms, and the availability of app games that help you understand crypto trading are gradually coming up. These only signify the popularity that cryptocurrency has been gaining gradually.
While these factors have boosted the popularity levels of crypto trading, crypto trading is not just some sudden trend. It is here to stay, and that too, because of its many advantages, as listed below.
Once you understand it, crypto trading is easy. You do not have to spend time setting up the account on an exchange to begin crypto trading. A stable internet connection and a mobile device are all you need to trade in crypto. Of course, you need to have an account with a crypto exchange or brokerage. This process is simple. Even if there is a minimum balance requirement, the figure is low.
2. The Bull and Bear
When you engage in spot trading with crypto, you take advantage of the high price of coins. Once you purchase any crypto asset, and the price for the same increases, the investment will also increase.
Of course, the fact is that your asset will lose value when the price of the crypto falls. However, this can be seen as an advantage too. As a trader, you know that a dip in price will bring in value loss. As a result, you will not make long-term investments that could see a price crash soon. Instead, you can make an asset short (up to a limit) to make a profit despite a fall in the market.
3. Volatility
While the cryptocurrency market is new, it has seen significant volatility. This is a result of the huge amount of short-term and speculative interest. The volatility attached to cryptocurrency makes the market attractive to even long term investors.
4. Transparency and security
Cryptocurrency operates on the latest blockchain technology. The technology is such that data here is unchangeable and un-manipulated. Each transaction is easy to track while being completely secure.
5. Ability to go long or short
Since the price of crypto varies heavily during intraday trading, it provides several opportunities for traders who want to go long or even short. Brush up your trading skills with Bitcoin coins and win a prize pool. Practise virtual intraday trading with the crypto coins on apps to know how the market works!
6. Decentralisation
The crypto market is decentralised since no central authority or bank has an authority on such currency. This ensures independent control in making decisions around such currency-based trading. Moreover, there is better data reliability involved in such transactions.
7. Low transaction fees
Crypto transactions involve lower fees and quicker transfer times compared to traditional banking transactions. For instance, transactions in crypto do not potentially come with very high fees. The global wire system has high fees attached. Time for credit is also very fast in contrast with banking wires, which take a day to 48 hours.
8. High potential returns
Crypto assets and coins are best suited for the buy-and-hold strategy. While these are extremely volatile over the short term, they come with huge growth potential over the long term. The strategy for trading or investing in these must involve identifying stable assets anticipated to work over a long time.
Playing games related to crypto-trading can give you a better idea of predicting market movement. Play crypto leagues on TradingLeagues to understand how coins compare head-to-head.
For instance, polish your skills by building a virtual crypto portfolio on Selection League to pick the best coin. See how it holds up and gives you profits. With such games, you polish your trading skills and learn to mitigate the risks.
9. 24/7 market: Flexible trading hours
Crypto traders have the liberty to purchase or sell coins and crypto assets at any hour. However, most prefer trading when there is activity at the highest level. While there is no “perfect” time to trade, the hours of lesser activity can be tough for opening or closing a trade.
Just like you can trade with crypto at any hour, you can play various games on the TradingLeagues app at any hour. Practice without distraction and become an expert crypto trader.
Conclusion
Due to immense pricing volatility, the crypto market can be compared to a roller coaster over the last few years. Then again, the industry has grown tremendously, too. The trend for growth and popularity is set to continue further. For beginners as well as seasoned crypto enthusiasts, crypto trading is here to stay!
Polish your day trading skills, understand the market better and indulge in creating portfolios that help you compare various coins’ performances.
For all this, you simply need to download The Fantasy Crypto & Stock Market Game App TradingLeagues. A reliable app that lets you practise all that you need to grasp how crypto trading actually works. Available for both iOS and Android users, the app is one of the best you could have. Go ahead and download it now.
