If you are looking to try your luck in the cryptocurrency Philippines sphere, one of the important things you need to consider is whether you will purchase digital assets or speculate on their prices. When you trade cryptocurrencies, you are speculating on whether your selected market will fall or rise in its value, without taking ownership of the digital asset. The following are some of the important benefits of cryptocurrency trading.
The first benefit is volatility. Even though the cryptocurrency market is relatively new, it has experienced significant volatility because of the huge amounts of short term speculative interest. For instance, between October 2017 and October 2018, the bitcoin price rose as high as $19,378 and fell as low as $5,851. Even though other cryptocurrencies have been comparatively more stable, advancements in technologies are often likely to attract more speculatively interest.
The cryptocurrency Philippines volatility is one of the things that make this market exciting. Rapid intraday movements provide a range of opportunities for traders to go short and long, but they also come with a huge risk. So, if you decide to try your luck in the cryptocurrency market, you need to take your time to do your research and develop a high risk management strategy.
Another benefit of cryptocurrency trading is that the market is usually available to trade 24/7 because there is no centralized governance of the market. The cryptocurrency transactions usually take place directly between individuals, on cryptocurrency exchanges all around the world. But, there could be periods of downtime when the market is adjusting to infrastructural updates.
Cryptocurrency Philippines also has improved liquidity that brings about better pricing, faster transaction times as well as increased accuracy for technical analysis.
For more information on the benefits of cryptocurrency trading in the Philippines, visit our website at https://info.coexph.com/en/