Cryptocurrency trading is relatively new but the potential that it showcases is great. Platforms like www.cryptolico.com provide some of the best cryptocurrency tradingexperience due to the ease of usage, fast and large returns they offer. People are generally reluctant on investing in crypto currencies but with the right platform like these, you can earn an awful lot of money in a short period of time. The following are some benefits that trading Cryptocurrencies give to you-
- It’s volatility
Despite being a new comer, cryptocurrency has seen volatility due to extravagant amount of short-term interest by traders. Cryptocurrency is very volatile as it has seen more than $10,000 drops and jumps in its rates. Seasoned traders tend to take advantage of this and many have made millions out of it.
- Better liquidity
Liquidity is the measurement of how quickly an investment can be turned into cash that too without impacting its market price. On papers Cryptocurrencies are illiquid as they are scattered around different places, but with the use of proper platforms the liquidation process gets faster and almost instant.
- Tax efficiency at it best
Trading cryptocurrency is probably the most efficient when it comes to tax saving as spread betting is completely free of taxes as you will not have to pay capital gain tax as you won’t be owning any assets. Although CFDs aren’t exempt from CGT as you will own the cryptocurrency, but one can offset their losses against the profits for their liability, this makes them useful while hedging.
- Convenient trade hours
Cryptocurrency trade is generally available 24×7 which makes it easy for everyone. You can trade Cryptocurrencies anytime and from anywhere you want with convenience. This trade is done between 2 individuals. This makes it even more reliable and fast. The only downtime comes when there are technological advancements being adapted by the platforms.