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?
I had been trading stocks for the last decade and then decided to go full time in bitcoins. In the country where I am currently at, I had noticed that stock market crashes whenever the elections are coming (2007 and 2016), especially when the newly elected leader is making some goofy decisions (such as switching allies from America to China, vice versa). I want to give you an example where the government directly affects the price of a stock; in 2014 I have bought a few thousand shares of a nickel-mining company but unfortunately the government declares a nationwide ban for mining, therefore, that stock went down 50% and I have no choice but to cut-loss and move on. I also have a few shares of Casino stocks but 2 years ago, the government went rocky with the Chinese so that particular stock did not perform very well. I am still holding that stock though.
Now, with bitcoins and cryptocurrencies, the government doesn't have direct influence to it's price. You may also say that the community decides about the fate of it. Another great thing about cryptocurrency is it is not regulated by SEC. it is tax-free in my country too.