Cryptocurrencies
More than 15 cryptocurrency pairs are available for trading
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What are cryptocurrencies?
Cryptocurrency is a digital payment system that does not involve banks in verifying transactions. It is a peer-to-peer system that allows any user anywhere to send and receive payments.
Cryptocurrency payments exist solely in digital form in an online database describing specific transactions. When funds are transferred in cryptocurrency, the transactions are recorded in a public registry. Cryptocurrency is stored in digital wallets.
How the cryptocurrency market works
The cryptocurrency market where traders buy and sell various cryptocurrency assets is decentralized. Here are some basic aspects of how the cryptocurrency market works:
Trading with a broker
Online brokers offer buying and selling of cryptocurrency as well as other financial assets: stocks, bonds, ETFs. These platforms usually offer lower trading commissions than on a cryptocurrency exchange.
Open an accountExchange trading
Most cryptocurrency trading is done on specialized exchanges, including: Binance, Coinbase, Kraken and others. The exchanges provide a platform for traders to place orders to buy or sell cryptocurrencies.
Open an accountLiquidity
The cryptocurrency market has varying degrees of liquidity, which reflects the ability of assets to be bought or sold quickly at the current market price without significantly affecting their value. In more liquid markets, traders can easily enter and exit positions, have tighter spreads and less influence on the price.
Open an accountPrice and demand
Cryptocurrency quotes are determined by the interaction of supply and demand in the market. If the demand for a particular cryptocurrency exceeds the supply, the price may rise, and vice versa. Factors affecting supply and demand: news, various events, market situation, regulation and other factors.
Open an accountOrders
Traders place orders to buy or sell cryptocurrency assets. They can be market (buy or sell at the current market price) or limit (the desired buy or sell price is specified). When an order matches another of the opposite type, a trade is made.
Open an accountVolatility
The cryptocurrency market is known for its high volatility, which means frequent and significant price changes. This can provide opportunities for traders to profit from short-term price movements.
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