Can you trade cryptocurrencies in the day?

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Cryptocurrencies can differ from traditional finance in many ways, but when it comes to trading, the two are remarkably similar. For example, it is not only possible to carry out daily cryptocurrency transactions, but in some cases it is also a good strategy. Although intraday traders are more active in markets such as stocks, currencies, and commodities, the inherent volatility of the cryptocurrency market is particularly attractive for those looking to profit relatively quickly. In this article we tell you everything you need to know about how to do it.

How to trade daily

Intraday trading is extremely simple. By definition, it is a type of trading where you enter and exit a position on the same day. In other words, day traders will buy and sell any number of financial instruments over a period of several hours or less, and will benefit from speculation on short-term price movements. As we have already said, cryptocurrencies are suitable for this due to their rapid price movements, which means that you can sometimes make a bigger profit than with other financial instruments.

On the other hand, an important aspect of day trading success is finding a reliable platform that can handle trading in such rapid succession. Since you need to be aware of what moves the markets in the short term, you could even place hundreds of orders in a single day for long-term profit. This means that it cannot handle a slow engine, full of errors or a confusing interface, or even too many non-intuitive options.

PrimeXBT is a platform that eliminates all these problems and offers an excellent home for everyday traders and those who want to try their hand at strategy. Also, do you know how we mention the other asset classes that are popular for intraday trading? You can trade stock indices, commodities, and currency markets alongside cryptocurrencies using a single account on this trading platform.

Can you meet my needs?

But how do you know if PrimeXBT can handle the number of orders executed during the trading day? landing site itself claims it: it claims to have over 12,000 orders executed per second, where the average order execution speed is around 7.12ms (yes, that’s milliseconds). In addition to its powerful built-in engine, this is also aided by the fact that PrimeXBT has access to 12 built-in liquidity providers, which means that your order will be fulfilled extremely quickly.

Perhaps best of all, the platform understands that day traders have no time to waste. In other words, if you are a newcomer to PrimeXBT, opening an account takes an average of 40 seconds, perfect to set up in record time. Also, if you are unsure of your trading skills, want to learn from the best, or just want to create some kind of passive income, you can give Coovesting a try. You can learn more about Cowesting here.

PrimeXBT has prepared a special offer for its new clients: they will get 50% of their first deposit credited to their account as a bonus that can be used as an additional guarantee to open positions!

Don’t forget to join the PrimeXBT Cowesting Community / to learn more about the trading terminal, the trade copy form, and how to save up to 25% of your commission with COV tokens and other token utilities.

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