Where better to trade cryptocurrency?Useful tips for customers
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Exchanges for trading cryptocurrency have appeared for a long time and in considerable quantity. Their significant feature is that they trade without brokers, unlike all the familiar platforms where they trade in stocks, futures, currencies, options and other instruments. It seems that this happened for the reason that this market appeared relatively unexpectedly and being an unregulated market, there was simply no need for brokers and no one obligated them to mediate.
However, forex brokers and DCs also began to offer cryptocurrency trading on the principles of CFD, where in fact no one real Bitcoins and other coins are bought and sold. But there is an opportunity to earn on changing their value.
And now we can choose where to trade cryptocurrency, on one of the cryptocurrency exchanges or, at some forex broker.
Each option has its advantages and disadvantages
For speculators, trading on the exchange is good primarily because the spreads there are much lower than in some, or rather, in almost all forex companies. For investors on the exchange, there is the opportunity to buy cryptocurrency at the best price, transfer it to a cold wallet and wait for the predicted growth of coins.
In addition, traders there see a glass and a tape of transactions. But it is difficult to say how objective this information is and is not embellished. After all, these are still not truly regulated exchanges, these are “exchange sites”. After all, at the moment they are quite capable of exaggerating trading volumes and engage in various, long-known tricks for market manipulation.
There is still an important point of trust in crypto exchanges. Well-known forex brokers have been trading people for more than a year and withdraw their earnings without any problems. At the same time, cryptocurrency exchanges often complain that they are pulling with the withdrawal of fiat money or cryptocurrencies, and the latter often disappears somewhere.
One day we can try to go to the site of some exchange and see that the site does not work either. That's all. I think that many sites in the end will end their activity.
At forex brokers, the list of cryptocurrencies is very scarce compared to even very unpopular cryptocurrency exchanges.
Forex companies also have such a drawback for actively trading as an increased spread. But who trades in the medium term, then, in principle, this is not so important.
It is clear that trading crypto with a forex broker implies only speculation, we will not buy cryptocurrency in fact here.
Well, I’d call it an advantage here: if we trade in DCs for 10 years and withdraw money without problems, then there should be more confidence.
In addition, in DCs, the minimum volumes of lots for cryptocurrencies. And the ability to open accounts with the most minimal amounts.
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