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Trusty Crypto-currency Trading Website?
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T rusty Crypto-currency Trading Website? The best and most trustworthy cryptocurrency trading websites typically offer a combination of security, ease of use, liquidity, and regulatory compliance. Here are some of the top platforms that are widely recognized for their reliability: 1. Coinbase Pros: User-friendly interface, great for beginners. Wide variety of supported cryptocurrencies. Strong security features (2FA, insurance for USD balances). Regulation-compliant, especially in the U.S. Cons: Higher fees compared to some other platforms. Limited advanced trading features. 2. Binance Pros: Large selection of cryptocurrencies and trading pairs. Advanced trading tools for experienced users. Low fees, with options to lower them by using Binance Coin (BNB). Supports spot trading, futures, staking, and more. Cons: Has faced regulatory issues in some countries (e.g., U.S., UK). Can be complex for beginners. 3. Kraken Pros: High-security standards (2FA, cold storage). Wide range of cr...
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STOPS IN CRYPTOCURRENCY TRADING
STOPS IN CRYPTOCURRENCY TRADING What is a Stop? A stop (or stop-loss order) is a type of order you place with your exchange that automatically sells (or buys, in case of shorting) your cryptocurrency when it reaches a certain price. It acts as a safety net to prevent large losses. ✅ Types of Stop Orders Stop-Loss Order Triggers a market order when the asset hits a specified price. Example: You buy Bitcoin at $30,000 and set a stop-loss at $28,000. If the price drops to $28,000, your Bitcoin is automatically sold to limit further loss. Stop-Limit Order More precise: it sets both a stop price and a limit price. Example: Stop at $28,000, limit at $27,900. When BTC hits $28,000, a limit order is placed to sell at $27,900 or better. Trailing Stop A dynamic stop that moves with the market price. Example: You set a trailing stop 5% below the highest price. If BTC rises to $35,000, the stop adjusts to $33,250. If the price then drops by 5%, the order is triggered. š§ Why Use Stops?...