This is another reason for volatility when you invest in cryptos. You need to trade within an exchange that you can “cash out†from or withhold your money and protect them from fluctuations of the market.
Outside of these specific exchanges, what does everyone else do to maintain their trading value in this volatile market? The answer is stable coins- these are coins within the market that often hold their value over long periods. The most widely-known stable coin is Tether.
Crypto investing is based on the high-risk high-return principle
So, is cryptocurrency a solid investment? Yes, cryptocurrency today is a good investment with various stable coin options available. Without stable coins, cryptocurrency could still be a viable investment option. With stable coins, trading between more volatile coins and stable coins gives investors the most security for holding their gains.
There are many exchanges all over the world, all with their pros and cons. The issue with many Canadian exchanges is the limit of what kind of coins you can trade within the exchange itself. Suppose an investor wants to trade among all the altcoins available.
In that case, they will need to transfer their coins to a different exchange that allows for a different selection of altcoins website available for trading. The issues here are the exchange fees and lack of security, therefore depending on where you are transferring your coins to, it is essential to know which exchange is best for you and your investment needs.
Coinsmart is a leading crypto exchange in Canada
Not all exchanges offer options for stable coins and only CoinSmart crypto exchange a few exchanges within Canada provide top-of-the-line security, customer support, and a wide variety of coins. CoinSmart delivers the perfect combination of coins, all within the same exchange. They offer coins with the website possibility of large gains and losses to one of the most valued stable coins, Tether.
With these combinations available all within one exchange, an investor can trade directly from, for example, Litecoin to Tether with only one round of trading fees to move your investment from a volatile coin here to a relatively stable one. Doing so avoids the fees of pulling your investment from the market, allowing you to get the most worth from every trade and investment.
So take a hold of your investment today and start trading with CoinSmart.
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