The pinnacle of cryptocurrency bitcoin became the foremost reason Wall Street started a wild ride in the cryptocurrency market. Platforms like Bitindex Prime are easy to use and cost no money to start bitcoin trading, and it uses advanced AI technology to make your cryptocurrency trading better. However, with people getting more knowledge about other existing competition of bitcoin, they started to explore more and more about other digital currencies.
Stock investors and traders have deep into cryptocurrencies as they only want to make money in this wild wave of digital currencies. Most traders and investors had never witnessed anything like a cryptocurrency, and they didn’t know how big it could get, but when they saw the growth of these currencies in terms of market value, they jumped straight in.
Wall Street Getting Crazy About Crypto
Wall Street has a peculiar history with cryptocurrency. In the last year, the belief in cryptocurrency increased so much that two of the biggest stock exchanges in the world have started their crypto trading platform.
Though all the stock investors cannot invest directly in cryptocurrencies, they are using the services of a Bitcoin Trading Platform to earn money from cryptocurrencies. These platforms allow you to use your fiat currency or any digital currency to buy and sell digital coins at a bit higher price than their actual value.
Why are traders and investors getting more interested in cryptocurrency than the stock market?
The cryptocurrency market is offering exciting returns. Whether you are earning small or massive, it gives you quick money. The most important reason why people are getting crazy about digital currencies is that there is no expensive and time-consuming infrastructure associated with this, like in the stock market.
If you want to trade in the stock market, you initially need to open a trading account with an online broker, as they will take a commission on every trade you make. The second step that needs to be taken before trading on the stock exchange is a fund transfer from your bank account to your brokerage account.
Difference between stock and cryptocurrency market
While in the stock market, you need to go through many steps before you do any actual trading or investing in stocks. You need to know the market and then only invest in it. If you are a new trader, you will have little knowledge about the market, and thus there is a possibility that you might lose all your money.
If you want to invest or trade in the cryptocurrency market, then all you need is a couple of minutes and an Internet connection. Anyone can trade in cryptocurrency, but prior digital currency knowledge is recommended.
Why cryptocurrency over the stock market?
The cryptocurrency market is the most popular trading category in terms of the percentage of total value invested in financial services and investment. In the last year, it has developed very fast, and now it is the hottest market for everyone.
Though many people keep an eye on the stock market, those who have more interest in the cryptocurrency industry than the stock market. The primary thing you need to know about stocks is their price movement, history, and trends. With that knowledge, you can make a call on whether to invest or not in a specific sector or company.
In the cryptocurrency market
Trading in stocks is also a problem when you have a limited amount of money and can only trade in a few shares. However, with cryptocurrencies, trading has become more manageable and profitable compared to stock market trading
- Fees & Transaction charges: The stock market investors are charged fees on every transaction they make. The investors trade in stocks and commodities worth a few thousand to several tens of thousands of dollars per coin. The transaction charges for cryptocurrencies have a minimum of 1 percent or 2 percent, which is less than the amount charged by banks for a bank transfer from your bank account to your brokerage account.
- Transaction time: In the stock market, it takes only a day or two to complete a transaction from one exchange platform to another. But in the case of cryptocurrency, there is no such kind of time limitation as you can do trading within hours, sometimes minutes even.
