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Three Types of Traders: Hodlers, Hodlers, and Traders

Bitcoin

The three primary types of cryptocurrency investors are hodlers and traders. Hodlers are motivated by the inherent advantages of Bitcoins over regular currencies and its superior monetary utility. They base their decisions on the economic potential of the cryptocurrency and are not sensitive to daily price fluctuations. However, if a price reaches an unsustainable high, hodlers may take profits. Otherwise, they are more likely to engage in buying and selling. This article provides you with an overview of the three most common types of cryptocurrency traders and their motivations.

iFOREX

If you are interested in investing in Bitcoin, you may have already heard of iFOREX, a trading platform that lets you buy and sell Bitcoin. This platform is also active in other markets, such as gold and indices. It is one-stop-shop for traders of any type. Moreover, it offers you a great opportunity to hedge your Bitcoin against other investments, using precious metals as a safe haven.

Bitfinex

The Bitfinex website has many advantages over other platforms, including high liquidity for digital currencies. It also offers many advanced features, including margin funding, leverage, and multiple order types. Security is also a high priority for Bitfinex, as the company has undergone multiple hacks in the past. However, the platform is not suitable for beginners or newcomers to the cryptocurrency market, as it is complex and requires a lot of time to master. Beginners are best served by sticking with a simpler platform that has more familiar payment methods.

Binance

If you are looking for a Bitcoin trading platform, look no further than Binance. This peer-to-peer exchange has achieved astronomical success since its launch. In fact, it is now the number one website for 24-hour trading volume, with 5 times as much volume as Coinbase. Besides Bitcoin trading, Binance also facilitates fiat payments and offers a variety of payment options. This means that Binance is a great choice for both novice and experienced investors.

Kraken

Before you can trade Bitcoins, you need to be aware of the different currencies that you can exchange. First, choose your currency pairs. This will be reflected on the top left corner of the Trade tab. In each pair, the first currency is known as the base currency and the second is called the quote currency. When you place a Buy or Sell order, you will receive the quote currency. Similarly, you should not send money to a cryptocurrency exchange that does not allow you to place a buy or sell order.

Polonies

If you’ve been thinking about using a bitcoin trading platform, then you may want to check out Polonies. The website is operated by the parent company of the cryptocurrency exchange, Polo Digital Assets Limited. It was one of the first exchanges to list Ethereum, another popular cryptocurrency. In the first quarter of 2018, the site was acquired by Circle, a payments company. As the name suggests, the company is based in the United States.

BTCC

BTCC is one of the oldest and most popular cryptocurrency exchanges in the world, but its operation in China has been suspended since the Chinese government forced the “Big Three” exchanges to take action. Despite this, BTCC remains the best place to buy and sell popular digital currencies. The exchange supports numerous payment methods, including credit cards and wire transfers. Moreover, it accepts deposits only in US dollars, and supports a growing list of cryptocurrencies.

CME Group

One of the largest regulated global exchanges for cryptocurrency is pushing to add Bitcoin futures to its trading platform. This news comes at a time when the bitcoin spot market is trading at $6,400, double the price of last summer. Alphabet, the company that owns Google, has invested $1 billion in the Chicago Mercantile Exchange, so the announcement of futures contracts for the digital currency has been welcomed islamicallrounder.

ICE

If you want to trade Bitcoins, then ICE may be the right place to start. The exchange offers futures contracts that are physically deliverable and pay out in bitcoins at the time of settlement. The exchange also offers an institutional custody service for investors. Bakkt Warehouse uses the same operational controls, security, and institutional standards as ICE. It also allows physical delivery of Bitcoins, which significantly reduces the security risks inherent in Bitcoin.

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