Hey everyone. I am quite new to the crypto market and I was wondering if I could get some guidelines about trading. I have been trading for quite a long time on the stock market and had moderate success. What are the main differences between trading crypocurrencies and stocks. From what I understand there is no downtaime in which the market is operating and also there is no supervising entity, that could interfere in the process of trading. Are there any other factors to be taken into consideration? Also, could anyone recommend a trading service with low transaction fees?
Correct, there is not a market opening or closing, you're just placing orders any time of the day. Another big difference is these cryptocurrencies are extremely volatile because it's a new technology. They are also not the same as companies or businesses. They are more like a fiat currency exchange.
Also the exchanges are more risky that the stock market because they can close or go out of business at any time and can be hacked, so we are taking risks.