{"id":5503,"date":"2017-12-18T11:16:48","date_gmt":"2017-12-18T16:16:48","guid":{"rendered":"https:\/\/acro.net\/blog\/?p=5503"},"modified":"2017-12-18T11:23:03","modified_gmt":"2017-12-18T16:23:03","slug":"cryptocurrency-trading-not-for-those-with-a-weak-stomach","status":"publish","type":"post","link":"https:\/\/acro.net\/blog\/cryptocurrency-trading-not-for-those-with-a-weak-stomach\/","title":{"rendered":"Cryptocurrency trading : Not for those with a weak stomach"},"content":{"rendered":"

Trading cryptocurrency<\/strong>, or “crypto” as the term has been reduced to, can be an exciting experience.<\/p>\n

The proliferation of Bitcoin<\/strong> as a vessel of wealth might have surprised many, as it was designed to facilitate transactions. Its worldwide adoption as “coinage” is still very much lacking, all while its value skyrocketed in 2017.<\/p>\n

Due to its volatility and mixed adoption status by financial institutions and governments, trading BTC or any cryptocurrency is not for those with a weak stomach.<\/p>\n

Cryptos are unregulated, and one can watch their investment diminish in value overnight, or even in the course of a few hours, depending on a large number of clear and not so clear factors. Financial news, industry improvements and general statements about the market’s future can affect the value of cryptocurrencies and sway it along.<\/p>\n

The recent introduction of futures trading<\/strong> for Bitcoin has attracted a different kind of investors as well, who can bid for or against<\/strong> the Bitcoin’s value.<\/p>\n

Many domain investors that have been passionate about Bitcoin are caching in their chips this year; newcomers still have room to grow, despite the astronomical value of BTC.<\/p>\n

As a precaution to anyone eager to jump into the cryptocurrency market, I will say that one should never ever invest money they need<\/strong> to perform day to day functions. The Bitcoin craze has led many to potential disaster, and as with every financial transaction, one needs to be responsible with their money.<\/p>\n

So far, I’ve traded all three major cryptocurrencies – Bitcoin, Ethereum<\/strong> and Litecoin\u00a0<\/strong> – with varying levels of success.<\/p>\n

Most reputable exchanges, such as Coinbase<\/strong><\/a> and its affiliate platform, GDAX<\/strong><\/a>, require extensive verification in order to trade. Once there, funding one’s account can be a quick or a slow process, depending on their locale and method of funding. While credit card funding is instant, its limits are low and fees are higher than providing a bank wire deposit; the latter, however, can take up to 10 days to clear at the exchange.<\/p>\n

After you fund your account, make sure you secure it by enabling two factor authentication. When trading on GDAX, the use of limit buys and sells<\/strong> is a must, if you want to generate profit from the market’s fluctuation, or you won’t easily hit those peaks and valleys in pricing. As always, your mileage will vary and past performance cannot guarantee future results – that’s a lesson Forex traders already know.<\/p>\n

Long hold investors argue that BTC can reach six figures in the coming years, for a variety of reasons. Overall, the underlying technology of blockchain is expected to provide immeasurable benefits to how we conduct transactions that need to be tracked and recorded.<\/p>\n

All these notes are not investment advice<\/strong>, and I do not endorse the exchanges I mentioned, other than to describe my personal experience so far. As a final note, keep in mind that gain (or loss<\/em>) from trading in cryptocurrency is an activity that needs to be reported to the IRS in the US.<\/strong><\/a><\/p>\n

Good luck in all that you do, and have a great 2018 ahead.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Trading cryptocurrency, or “crypto” as the term has been reduced to, can be an exciting experience. The proliferation of Bitcoin as a vessel of wealth might have surprised many, as it was designed to facilitate transactions. Its worldwide adoption as “coinage” is still very much lacking, all while its value skyrocketed in 2017. Due to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1367,269,1189,1376],"class_list":["post-5503","post","type-post","status-publish","format-standard","hentry","category-domains","tag-crypto","tag-domainers","tag-domains","tag-trade-crypto","entry"],"yoast_head":"\nCryptocurrency trading : Not for those with a weak stomach<\/title>\n<meta name=\"description\" content=\"Cryptocurrency trading : Not for those with a weak stomach\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/acro.net\/blog\/cryptocurrency-trading-not-for-those-with-a-weak-stomach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptocurrency trading : Not for those with a weak stomach\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency trading : Not for those with a weak stomach\" \/>\n<meta property=\"og:url\" content=\"https:\/\/acro.net\/blog\/cryptocurrency-trading-not-for-those-with-a-weak-stomach\/\" \/>\n<meta property=\"og:site_name\" content=\"Acro.net - 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