(as of Sep 28,2021 04:44:48 UTC – Details)
Since its electronic inception in 2009, cryptocurrency – whether its Bitcoin, Ethereum, Litecoin, and others – has grown from a largely-unnoticed blip on a computer screen to a worldwide phenomenon, making and breaking fortunes through its often-volatile trading patterns and soaring growth trends. In many ways, cryptocurrency trading can be compared to forex trading; the markets in various fiat currencies from all over the world are traded against each other. In Forex trading, U.S. dollars can be used to purchase a position or option in euros, Swiss francs, or any other currency, and then sold again at the time of the investor’s choosing, booking either a profit or a loss on the trade. Cryptocurrency trading is very similar to forex, allowing traders to purchase cryptocurrency with U.S. dollars. As with forex, cryptocurrency traders can trade with a buy-and-hold strategy or trade the daily or weekly up-and-down volatility. There are even several strategies available by which you can potentially profit from a cryptocurrency going down in value, including futures contracts and binary options.