Cryptocurrencies are digital market products and just like the other digital platforms, it runs 24/7. You can go for cryptocurrency trading at any point of the day, during any time in the week.
Unlike stocks and commodities, it doesn’t have a market with a regulated exchange, rather it can be traded during all hours of the day on different platforms such as Binance, Coinbase, etc.
Though cryptocurrency trading can be done round the clock, there are times when the market appears to be busier, but it is a loose thumb rule and doesn’t always remain active.
The three major crypto traders are the USA, UK, and Russia and hence, the market hours of these places are the busy trading hours for cryptocurrency.
The Asian market can be volatile at times for cryptocurrency, majorly on weekends.
The strange thing about cryptocurrency platforms is the range to which the price difference can go between different exchanges.
For example, there have been times when Bitcoin has shown a price difference of $500 between two exchanges.
The simple reason behind it is the difference in liquidity between the exchanges and their geographical location.
The price difference gets more noticeable after the big movement in the cryptocurrencies.
How to trade cryptocurrencies?
There are two ways to commence crypto trading at XTRgate. The first one is to purchase crypto coins on exchange platforms and own it and then wait for it to rise significantly so that you can sell it at a profit.
The second method is to trade a contract for differences on a specific coin.
CFD is when a broker agrees to pay a trader the difference in the value of the security between two times i.e. the opening and closing time. You can go for a long position or a short position.
There are some differences between buying crypto coins and trading CFDs on crypto.
When you buy coins, you store it in your wallet, but with CFD, the position is kept in your trading account under the observation of a fiscal authority.
With CFD, you can experience higher flexibility as you don’t need to stick to the asset.