The roller-coaster ride associated with cryptocurrency price charts continues to attract rather than deter investors. Make no mistake, the market is one for those who are prepared to run high risk-return strategies and the consensus view is that traders should only use an amount of funds they can afford to lose completely. That being said, reports of eye-watering profits being made continue to keep cryptos in the headlines and there is little sign of the market dynamics changing. The new and sometimes unique features of cryptocurrencies, such as blockchain protocols, are part of the reason prices fluctuate so much. When opinions on the effectiveness or long-term viability of cryptos clash, the price whipsaws. These quirky features of the crypto world have also resulted in specialist crypto exchanges being set up. Designed to cater to the unique nature of crypto markets, these are for some, though not all, the first choice when it comes to trading Bitcoin, Ether, Dogecoin and their peers.
There is a need for specialist wallets and to consider such aspects as whether you want to hold your coins in a ‘hot’ or ‘cold’ wallet. It can be daunting at first and some instead opt for the simplicity of using CFD brokers to trade crypto in Singapore. If using an exchange is for you, then given all the new information that needs to be considered, it is worthwhile keeping the selection as simple as possible. If you’re looking for the best crypto exchange in Singapore, then this list will point you in the right direction and free up time for research into other areas of the ever-changing crypto markets.