🌟 Cryptocurrency trading simply means trading on the markets with an electronic currency; such as Bitcoin. This is becoming a more popular option as Bitcoin has established itself as a reliable and relatively stable currency.
Of course, not every broker offers cryptocurrency trading at this stage but there are plenty of reputable ones which do. However, it is worth noting that there are some differences when trading with standard currency and digital cryptocurrencies.
🌟 Cryptocurrency Trading Hours
When you trade in binary options, Forex trading or even on the general stock market you will find that the trading hours are Monday to Friday, matching the standard business hours. This is because the firms which trade operate on these hours. However, cryptocurrecy trading is possible at anytime of the week; it is always running as it uses a separate exchange.
So whether you work full time in an office and would like to do some trading at the weekend, or if you are a stock trader during the week, cryptocurrency trading can provide you with some additional options at the weekend!
Bitcoin is not the only electronic currency; there are others such as Litecoin and Dash; although none of these are as popular yet.
🌟 Cryptocurrency Trading And The Governments
Trading with traditional currencies means that you need to be aware of how the government can affect your trades. Interest rate rises generally strengthen a currency and, if these are expected, can affect the direction in which you decide to trade.
In contrast, the government has little effect on cryptocurrency trading. Instead, the influence comes from the economy. Any sudden movements can affect the level of trust which is placed in these digital currencies and drastically alter the value. This will not just affect the value of funds you have available; it can also significantly affect the trade direction you should be using.
🌟 The Latest Trends
The most obvious example is when a large business restricts the use of digital currency trading; this will frighten traders who will sell their currency and downgrade the value of it! This is also reflected in the demand for cryptocurrecy trading; it is extremely difficult to manually manipulate the demand for these currencies which makes it more stable than many other options!
Perhaps the biggest factor which shows that cryptocurrency trading is becoming both popular and viable is the rise of a variety of currencies. Bitcoin is no longer the only one which is viable to use; even businesses such as Microsoft are starting to recognize these currencies; increasing their popularity and your ability to use them to complete binary trades.