IX.2. Features of cryptocurrencies as a trading tool.

Who said that only America can print dollars?

We can do this too, smart people said and came up with cryptocurrencies that can be sold or bought for USD.

It was impossible to believe that such a thing was possible 20 years ago, but today the cryptocurrency market has become an established fact with a huge audience of customers around the world and huge daily incomes of exchanges.

The main features characteristic of cryptocurrencies:

– these are not stocks, although every cryptocurrency has a company developing it;

– cryptocurrencies have no dividends;

– in some countries, cryptocurrencies are prohibited for use as a means of payment, for example, in Russia.

– cryptocurrencies have made possible the idea of a bank deposit on a single flash drive. You can record an electronic image of your savings on any medium, and then use it anywhere, anywhere in the world where there is Internet.

– the price of cryptocurrencies depends very much on the parent structure – Bitcoin, this should be taken into account when trading.

– no one is responsible for the scamming of individual coins, i.e. for their zeroing. You are not immune from the instant loss of all your money in such cases.

– the reaction of altcoins to the BITCOIN movement is expressed in significantly large price amplitudes. So BITCOIN can grow by 4%, and individual altcoins by 40% or even 90% at once. This makes trading BITCOIN is not always advisable. However, trading BITCOIN is less risky.

– due to the low interest rates on the commission, it is more expedient to trade futures on cryptocurrencies than coins on the spot.

– cryptocurrencies are easy to transfer without commission to any other crypto exchange.

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