Are you planning to start crypto trading in Hong Kong? You must be thinking, you will require millions to get in the race of Cryptocurrency. However, we have some effective suggestions to save your millions in the very beginning. With right exchanges and tools, you can get ahead in the Hong Kong cryptocurrency market. Keep reading to learn more about one of the fastest-growing and user-friendly Hong Kong cryptocurrency exchanges.

For the people taking the first step into the Hong Kong cryptocurrency market, this blog will help you know the lucrative returns and risks of Hong Kong crypto world.

Some background about Hong Kong Cryptocurrency Trading:
The first step to step in Hong Kong Crypto world is to learn about the fundamentals of cryptocurrency trading.

The very first cryptocurrency and also today’s most famous cryptocurrency, Bitcoin came into existence in the year 2009. However, the concept of trading came in when other coins were added to the market. The idea of cryptocurrency trading follows the same concept of the real-world stock exchange.

In cryptocurrency trading, you buy one coin and exchange it with another with the expectation of seeing an increase in the value of the new coin. An important point to remember here is that you need an exchange as a middle man to align you to the buyers or sellers. For instance, if you wish to buy bitcoin in Hong Kong but you are holding Ethereum, an exchange will help you trade you Ethereum for a bitcoin.

Every Hong Kong crypto exchange will charge you a fee for doing this which is normally 0.1%. However, the exchange given below charges half of this fee, that means only 0.05%.

Now, let us move on to exploring trading options:

Short- term Trading:
A short term Trading is when you buy a coin or cryptocurrency and only wish to hold it for a short period of time. This time period depends on you. You can keep your coin for hours, days or even months.

Here are some advantages of Short-Term Cryptocurrency trading in Hong Kong:

Keeping in mind that prices of cryptocurrency can double overnight, short-term cryptocurrency trading is an amazing opportunity to earn huge profits. The growing number of cryptocurrencies in the market means more chances for high profits and returns.

Long-term Trading:
Long-term trading can be described by one acronym, ‘HODL’. Although it actually means ‘Hold On for Dear Life’ but, in the crypto dictionary it means holding on to a coin.

Usually, long term trading means holding on to a coin for a year or more and selling it or exchanging it at a much higher rate.

One major advantage of long term trading is that you can skip analyzing the complicated charts and graphs and simply hold on to the coin. Rather than actively looking at the market, you can take care of the coin in your free time. Moreover, with long-term trading, you can simply buy more coins when you have spare money.

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