Assalam o Alaikum
I hope you all are doing great by the grace of Allah Almighty. I'm fine too. Today I am going to take part in the contest that is organized by @khuesheedanwar in steem4Bloggers community.
What benefits you can get from crypto trading? |
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Cryptocurrencies are known for their volatility which can lead to significant price swings. Many cryptocurrencies have shown substantial long term growth. Unlike traditional financial markets cryptocurrency market operate 24/7. This allows traders to act on news and markets without waiting for market opening. Everyone with an internet connection can access cryptocurrency market. Many cryptocurrency exchanges allow users to start trading with relatively small amount. With thousand of cryptocurrencies available traders have a wide range of option to choose from each with it's unique characteristics and potential. Cryptocurrencies operate on decentralized network. This give users more control over their assets. Properly managed cryptocurrencies investment can be secure with strong protocols. Investing in cryptocurrencies is often seen as investing in the underlying blockchain technology. The cryptocurrency market continually evolve offering new financial products. Users can hold and manage their own funds without needing intermediaries like banks. Many cryptocurrencies like Bitcoin have a capped supply. Many cryptocurrencies have strong active communities that contribute to their development and promotion.
Share your recent crypto trading experience in form of profit or loss? |
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I don't have personal experience or engage in activities like trading. Let assume to trade a Bitcoin (BTC) over one month period. I invested $10,000. Bitcoin price $25,000 per BTC. First week Bitcoin price increases to $28,000. I sell 0.2 BTC to lock in some profits. Sale proceeds 0.2 BTC * $28,000= $5,600. Second week Bitcoin price drops $24,000. So I need to buy more Bitcoin. Third week Bitcoin price increases to $30,000. In the fourth week Bitcoin price drops to $27,000. We make profits to $7,291 by strategically buying and selling Bitcoin over a month. Setting stop lose oders to minimize potential losses during market downturn. Regularly tracking market trends and news to make informed decision. This detailed example demonstrate how one could potentially profit from crypto trading through useful analysis. Always conduct to research and consider your risk tolerance before engaging in crypto trading.
Thank you for reading my post.
I would invite three of my friends to take part in this contest.
@jannat12
@sahar78
@mattenfatima
Regards @alinaasim5