Cryptocurrency is digital money that has no paper form but is used with the same purpose as fiat currencies. However, settlements in digital assets are not as widely adopted as traditional money settlements; many online and offline shops gradually integrate this option into their business. Besides, many financial companies worldwide have started incorporating blockchain technologies into their processes to facilitate settlements and transfers.
Crypto prices depend on the following factors:
- Demand and supply in the market
- Trend (bear or bull market)
- The overall situation in the global economy and the level of inflation
- The complexity of mining and coin emission.
Crypto rates are highly volatile, which has become a good reason for crypto trading popularity. Trading implies opening and closing positions in the market with the purpose of generating income from crypto rates difference. Crypto rates are highly volatile, which has become a good reason for crypto trading popularity. Trading implies opening and closing positions in the market with the purpose of generating income from crypto rate differences. Traders must also be prepared to make timely decisions to buy or sell crypto to capitalize on these price fluctuations.
To check out crypto rates, traders use a crypto price calculator. Every large crypto exchange offers this tool for the convenience of trading. The calculator displays the current assets’ price and calculates how much it will cost to buy this or that crypto asset.
What Cryptocurrency Exchange Service to Use?
Here are some factors to evaluate when picking an exchange for trading:
- Trade volume
- The list of crypto assets supported
- Availability to deposit and withdraw fiat
- The level of safety and mechanisms for protecting funds from hacker attacks
- Official registration
- Customer support.
We would like to take the WhiteBIT exchange as an example. It offers over 400 pairs for crypto trading and all possible financial instruments such as futures derivatives, margin, leverage, etc.
The exchange is officially registered in Europe and adheres to all the requirements in this field. WhiteBIT holds users’ investments on its servers; 96% of them are stored on cold wallets. The exchange users set up two-factor authentication on accounts and implement several layers of mechanisms to secure clients’ funds. The customer support operates 24/7.
For more information about the WhiteBIT platform, visit its official website.
By Amey MyersAmey, an intrepid traveler and avid blogger, roams the world, absorbing diverse cultures, flavors, and experiences. Her writing captures the essence of her adventures, inspiring others to explore. Amey's infectious passion for travel and storytelling epitomizes a life filled with exploration and adventure.
