Where to Trade Cryptocurrencies

You cannot buy cryptocurrencies through the usual markets. Instead, you will have to use particular cryptocurrency markets like www.Bittrex.com, GDAX, www.Kraken.com, or Poloniex. The problem is that some cryptocurrency markets have already been hacked, resulting in heavy losses in their currencies. The best-known case is probably the bankruptcy of the world’s largest bitcoin market, Mt.Gox. 

There are still cryptocurrencies like www.Anycoindirect.eu or even eBay-based trading platforms like www.bitcoin.de. However, suppose you want to trade fast. In that case, you can’t do it without a crypto market unless it depends on the derivatives.

The cryptocurrency is not bought directly in derivatives, but bet on the movement of the price of the product used. You can do this, for example, with different CFD providers. There are also certificates for the two largest cryptos, Bitcoin and Ethereum.

Finally, there is also an exchange-traded note (ETN) on the Bitcoin. For other cryptocurrencies like Litecoin, DASH, NEO, or Monero, derivatives still require further development. Earnings after 12 months are tax-free, regardless of whether they have been very high. You will have to indicate this on the tax return, but you will not have any tax.

However, it only applies to direct currency investments, not derivatives. These offer the advantage that there are no risks other than the issuer’s risk; therefore, you won’t have to worry about choosing a cryptocurrency market, a wallet, and, most of all, your security.

Cryptocurrency Strategies

In recent years, buy and hold was, without a doubt, the best strategy. You could buy almost any pullback in the major cryptocurrencies, especially Bitcoin, and then keep them for a long time. Given the strong upward trend, short positions were a good idea, although they seldom worked. You had to react quickly, which private investors usually cannot do. This is even more true of cryptocurrencies as they are traded around the clock throughout the week.

However, cryptos can undergo perfect trades according to the technical considerations on the chart. This is especially true for Bitcoin, but also other cryptos. The reason for this may be that the market is still relatively free, so it’s still only affected by supply and demand. Therefore, if you want to trade cryptocurrencies on short notice, you must urgently and technically analyze the chart.