What is cryptocurrency trading? Beállítások

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Unlike the forex market, the crypto market is still young—it’s only a little over 11 years old. Cryptocurrencies, by definition, are digital assets, so the market deals exclusively with digital assets.The crypto market quickly blossomed in the recent decade due to the rise of various altcoins and the establishment of many prominent exchanges and marketplaces.Compared to forex’s $5.3 trillion daily average, the crypto market has a daily volume of around $100 billion—it’s puny compared to forex, but $100 billion is still a lot of money. Most of this money is traded through exchanges. Although OTC trading for crypto exists, the use of exchanges is still the most prominent way to trade bitcoin and other cryptos.Crypto exchanges are always open—24/7/365. However, the trading regulations for these exchanges vary depending on the ways in which different countries perceive and understand cryptocurrencies.

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As mentioned above, SpookySwap is an AMM decentralized exchange hosted on the Fantom blockchain. To execute orders, an AMM protocol relies on smart contracts, self-executing programs in which the buyer-seller agreement is encoded directly into the blockchain.

Trading on SpookySwap DEX implies exchanging tokens through limit orders or at market price. To be able to trade on SwookySwap, users just need to connect a wallet to the Fantom Opera network. The platform charges a 0.2% and 0.22% trading fee on market and limit orders respectively, and uses these fees to buy back BOO tokens. During the tokens swapping process, the ratio of the tokens in a liquidity pool unbalances, and the price automatically adjusts to the new token ratio. Apart from that, SpookySwap’s users can earn rewards by providing liquidity to the pools. These rewards are granted with spLP (Spooky Liquidity Provider) tokens which can be staked on SpookySwap and other platforms.